Exercise 1-21

Name:

Section:

Score:

0%

Key Code:

2

Instructions

Answers are entered in the cells with gray backgrounds.

Cells with non-gray backgrounds are protected and cannot be edited.

Enter the appropriate amounts/formulas in the answer cells, or select from the drop-down list.

An asterisk (*) will appear next to or below an incorrect entry only in the outlined cells.

a.

EBONY INTERIORS

Balance Sheet

February 29, 2016

Assets

Liabilities

Owner's Equity

Total liabilities and

Total assets

owner's equity

EBONY INTERIORS

Balance Sheet

March 31, 2016

Assets

Liabilities

Owner's Equity

Total liabilities and

Total assets

owner's equity

b.

Owner's equity, March 31

Owner's equity, February 29

Net income

c.

Owner's equity, March 31

Owner's equity, February 29

Increase in owner's equity

Withdrawals

Net income

Exercise 1-21

Name:

Section:

Score:

0%

Key Code:

2

Instructions

Answers are entered in the cells with gray backgrounds.

Cells with non-gray backgrounds are protected and cannot be edited.

Enter the appropriate amounts/formulas in the answer cells, or select from the drop-down list.

An asterisk (*) will appear next to or below an incorrect entry only in the outlined cells.

a.

EBONY INTERIORS

Balance Sheet

February 29, 2016

Assets

Liabilities

Owner's Equity

Total liabilities and

Total assets

owner's equity

EBONY INTERIORS

Balance Sheet

March 31, 2016

Assets

Liabilities

Owner's Equity

Total liabilities and

Total assets

owner's equity

b.

Owner's equity, March 31

Owner's equity, February 29

Net income

c.

Owner's equity, March 31

Owner's equity, February 29

Increase in owner's equity

Withdrawals

Net income