Changes in the Elements of Financial Statements Tom Terrific You do accounting for the Tom Terrific Bar and Grill Put "I" for Increase, D for decrease, and "NE" for No Effect TOTAL ASSETS TOTAL LIABILITIES OWNERS EQUITY Cash Flow OPERATING Cash Flow INVESTING Cash Flow FINANCING +6,000 TOTAL TOTAL Revenue Expenses Net & Gains & Losses Income The EWU MBA program holds a graduation party for the class of 2021. +10,060 +61000 Dr Cash 10,000 4.000 Cr Sales Revenue 10,000 Cr Cost of Goods Sold 6,000 Cr Party Beverages Inventory 6,000 NE +400 f101860 VUE pug -1000 +4.000 + 1000000 +100,00 NE -900.000 WE WE - 111000 1100000 -400,000 10.00 The Tom Terrific Bar & Grill opens a new bar/ restaurant in Olympia. Dr Building 1,000,000 Cr Cash 900,000 Cr Interest Expense 100,000 Jim Tessla, a shareholder of the Tom Terrific Bar & Grill, loans $10,000 to the company Dr Cash 10.000 Cr Loans Payable +10.000 PUB WE +10.000 WB NE + 10,000 WE 5 10.000 -450 +45 - 900 -450 4450 uso +40 The Chief Accountant gets drunk and makes a silly journal entry. He laughs. Revenue from Product Sales 450 Accounts Payable 900 Cost of Goods Sold 450 Loss on Retirement of Debt 450 Common Stock 450 Dr Dr Cr Cr Cr BED Inu. it net income Dividends Decrage HY Changes in the Elements of Financial Statements Tom Terrific You do accounting for the Tom Terrific Bar and Grill Put "I" for Increase, D for decrease, and "NE" for No Effect TOTAL ASSETS TOTAL LIABILITIES OWNERS EQUITY Cash Flow OPERATING Cash Flow INVESTING Cash Flow FINANCING +6,000 TOTAL TOTAL Revenue Expenses Net & Gains & Losses Income The EWU MBA program holds a graduation party for the class of 2021. +10,060 +61000 Dr Cash 10,000 4.000 Cr Sales Revenue 10,000 Cr Cost of Goods Sold 6,000 Cr Party Beverages Inventory 6,000 NE +400 f101860 VUE pug -1000 +4.000 + 1000000 +100,00 NE -900.000 WE WE - 111000 1100000 -400,000 10.00 The Tom Terrific Bar & Grill opens a new bar/ restaurant in Olympia. Dr Building 1,000,000 Cr Cash 900,000 Cr Interest Expense 100,000 Jim Tessla, a shareholder of the Tom Terrific Bar & Grill, loans $10,000 to the company Dr Cash 10.000 Cr Loans Payable +10.000 PUB WE +10.000 WB NE + 10,000 WE 5 10.000 -450 +45 - 900 -450 4450 uso +40 The Chief Accountant gets drunk and makes a silly journal entry. He laughs. Revenue from Product Sales 450 Accounts Payable 900 Cost of Goods Sold 450 Loss on Retirement of Debt 450 Common Stock 450 Dr Dr Cr Cr Cr BED Inu. it net income Dividends Decrage HY