AutoSave Off H2 Accounting Worksheet for Homework-1 (1) - Compatibility Mode - Excel Megan Gregory MG X File Home Insert Page Layout Formulas Data Review View Developer Help Search Share Comments Calibri AutoSum v 11 A A === ab Wrap Text General . AT TIX MIT A AY o X Cut LECopy Format Painter Fill Paste BIU Ideas CA Insert Delete Format $ % 5 3 Merge & Center Conditional Format as Cell Formatting Table Styles Clear Sort & Find & Filter Select Clipboard Font Alignment Number Styles Cells Editing Ideas A2 X F G H 1 K L L M N 0 P R S T V w X Y Z AB AC ALA E 1 B & B GOLF SCENARIO WORKSHEET 2 BALANCE SHEET INCOME STATEMENT OWNER'S EQUITY (CAPITAL) 3 ASSETS ACCOUNT RECEIVABLE SUPPLIES EQUIPMENT BUILDINGS = LIABILITIES + ACCOUNTS PAYABLE 4 CASH BB CAPITAL REVENUE EXPENSE = PROFIT/LOSS 5 6 1 7 8 2 9 10 3 11 12 4 13 14 5 15 16 6 17 18 7 19 20 8 21 22 23 24 Sheet1 Sheet2 Sheet3 + EO B + 85% H Type here to search > 6:39 PM 10/26/2020 Ch 12 Updated Accounting Homework BB Golf-2 - Saved to this PC Megan Gregory MG File Home Insert Design Layout References Mailings Review View Help O Search Share Comments X Cut E AL Times New Rom - 12 ~ A Aa po BI U ab X, X? ADA [Copy Format Painter AaBbccdc Aabbccdc AaBbc Aabbcc AaB Aabbccc AaBbCCD AaBbccdi AaBCCDI 1 Normal 1 No Spac... Heading 1 Heading 2 Subtle Em... Emphasis Find Sc Replace Select Paste E 1 Title Subtitle Intense E.. Dictate Clipboard Font Paragraph Styles Editing Voice AutoSave Off H A iii........1......2...1...3.....4......5....6...TA7.... ACCOUNTING EXERCISE B & B Driving Range Betsy and Bill, local golf stars, opened the B & B Driving Range on March 1. 1. "..!!!!!!!!!!!!!!!!!!!!!!!...birilsin.l.11g 1 They invested $10,000 of their cash savings in the business. 2. A caddy shack was constructed for cash at a cost for $4,000. 3. An additional $800 was spent on golf balls and golf clubs. 4. Bill and Betsy leased five acres of land at a cost of $1,000 per month and paid the first month's rent. 5. During the first month advertising costs totaled $750 of which $150 was unpaid on March 31. 6. The members of the golf team were paid $400 for retrieving golf balls. 7. On March 15, Betsy and Bill withdrew a total of $800 in cash for personal living expenses. 8. A $100 utility bill was received on March 31 but it was not paid before the end of the month. Instructions: (Use the worksheet supplied for this exercise.) Hint: there are a total of 8 transactions required. (17 points total) NOTE: You are only required to post the 8 transactions BUT for an added challenge, answer the following: All fees from customers were deposited in the company's bank account. On March 31, the balance in the company's bank account was $8.550. Betsy and Bill thought they had a pretty good first month of operations. However, their estimates of profit for March ranged from a loss of $1.450 to a net profit of $3,900. a. Compute the balance sheet and income statement totals. (5 points extra) b. What were sales for the month of March? (1 point extra) c. Compute the actual net profit or loss for March. (1 point extra) Page 1 of 1 281 words C Focus 100% IH Type here to search W 6:39 PM 10/26/2020