D E A H ACCOUNTS PAYABLE M N RETAINED EARNINGS COMMON STOCK 1 2 1 FINANCING FINANCING OPERATING CASH 120 000] 40 000 16 500 12.000 OPERATING 13 000 INVESTING FINANCING 27 28 9 10 BONDS PAYABLE EXPENSES SERVICE REVENUE 151.500 2 ACCOUNTS RECEIVABLE DEPRECIATION EXPENSE EQUIPMENT ACC DEPRECIATION-EQ. 1 DEBIT CREDIT CASH COMMON STOCK CASH BONDS PAYABLE AVR SVS REVENUE EXPENSE A/P CASH AR AVD CASH EQUIP CASH DEPR EXFACC DEPR TRANSACTIONS . 1 Johnson Corporation issued 10 000 shares of no-par common stock receiving cash of $10 per share 2 Johnson Corporation issued bonds with face value of $60.000 at face value 3 Johnson Corporation eamed revenue of $75.000 on account Johnson Corporation incurred expenses in the amount of $36.000 on account. 5 Johnson Corporation received cash on account of $22.500 5 Johnson Corporation paid cash on account of $14.400 7 Johnson Corporation purchased equipment for $16,000 paying cash B. Johnson recorded depreciation on the equipment in the amount of 51.600 CLOSING SERVICE REVENUE 75.000 EPENSES 36.000 DEPRECIATION EXPENSE 1.600 RETAINED EARNINGS. 37.400. 9 Johnson Corporation paid a cash dividend of $6.000 7 8 DR CR CASH FLOW STATEMENT CASH 151.500 0 CASH FLOWS FROM OPERATIONS O ACCOUNTS RECEIVABLE O CASH FLOWS FROM INVESTMENTS 1 10 EQUIPMENT 0 CASH FLOWS FROM FINANCING 20 ACC DEPRECIATION-EQ NET CASH FLOWS 3 3 0 ACCOUNTS PAYABLE BEGINNING CASH BALANCE 40 BONDS PAYABLE ENDING CASH BALANCE 5 0 COMMON STOCK 60 RETAINED EARNINGS 7 71 SERVICE REVENUE CFQUIZ2-limited RET EART CASH 4.500 13.000 160.000 151500 0 151.500 CASH FLOW RECONCILES WITH CASH BALANCE 1 DEPRECIATION EXPENSE EQUIPMENT ACC DEPRECIATION EQ TRANSACTIONS 1 Johnson Corporation sued 10 000 shares of no-par common stock recewing tash of sio per Share 2. Johnson Corporation issued bonds with face value of 360.000 at face value 3 Johnson Corporation earned revenue of 375 000 on account 4 Wohnson Corporation incurred expenses in the amount of $35,000 on account 5 Johnson Corporation received cash on account of 522.500 8 Johnson Corporation paid cash on account of $14.400 Thon Corporation purchased equipment for $16.000 paying canh. B Johnson recorded depreciation on the equipment in the amount of $1.600 75.000 EXPENSES 36.000 DEPRECIATION EXPENSE 1.600 RETAINED EARNINGS 37.400. Johnson Corporation paid a cash dividend of $6.000 DEBIT CREDIT CASH COMMON STOCK CASH BONOS PAYABLE A/R SVS REVENUE E PENSE A/D AR AP CASH EQUIP CASH DEPREC ACC DEPR CLOSING RVICE REVENUE RET EART CASH CR DR 151 500 0 CASH O ACCOUNTS RECEIVABLE EQUIPMENT O ACC DEPRECATION-EQ O ACCOUNTS PAYABLE D BONDS PAYABLE 0 COMMON STOCK 0 RETAINED EARNINGS 1 SERVICE REVENUE EXPENSES 1 DEPRECIATION EXPENSE CASH FLOW STATEMENT 0 CASH FLOWS FROM OPERATIONS 0 CASH FLOWS FROM INVESTMENTS 0 CASH FLOWS FROM FINANCING NET CASH FLOWS BEGINNING CASH BALANCE ENDING CASH BALANCE 4500 -13.000 160.000 151 500 2 15300 CASH FLOW RECONCILES WITH CASH 151500 OUT OF BALANCE
