I would like to compare my answer to your answer. This is just a review for our mid-term exam.
Changes in the Elements of Financial Statements The Ed Yost Bar & Grill You do accounting for the Ed Yost Bar & Grill current lololita Assets Cash Flow OPERATING Lovesek Put "T"' for increase, "D" for decrease, and "NE" for No Effect Long-term halilit ter Cash Flow INVESTING t Acc. bep & important of all TOTAL LIABILITIES TOTAL ASSETS Cash Flow FINANCING OWNERS EQUITY 10,000 38.000 Aset coon TOTAL TOTAL Revenue Expenses Net & Gains & Losses Income NE NE NE Decreased NE NE NB NE NE Increasel Decret Docrenale NE D D NE VE NE Land COD 10:00 A Abdulding torn down for $10,000 It had a book value of zero as it was fully depreciated. Cost was $38,000 cash. membership Expense LOD cash 100 A health club membership was purchased for the Chief Accountant - $100 cash for the rest of the year Cash 20,000 20.000 The Leadership of the Radical Party has paid $20,000 cash to the Ed Yost Bar & Grill for catering a political dinner Vegethu Spoles 400 400 Four hundred dollars of vegetables has spoiled due to an oversight Revonue WE NE 1 NE NE 1 I I no 50 NE NE I D NE D NE V NE M st A waitress accidently caused a fire. A table was destroyed it cost $200 and had been depreciated down to a $40 book value. The waitress paid the Bar & Grill $50 because the market value of the table was $70 N5 I NE T I NE I I NE Accu. Depreciation 160 Table 50 asset selling Prico so Gain Table lo 200 Book value - 40 Arsed Changes in the Elements of Financial Statements The Ed Yost Bar & Grill You do accounting for the Ed Yost Bar & Grill current lololita Assets Cash Flow OPERATING Lovesek Put "T"' for increase, "D" for decrease, and "NE" for No Effect Long-term halilit ter Cash Flow INVESTING t Acc. bep & important of all TOTAL LIABILITIES TOTAL ASSETS Cash Flow FINANCING OWNERS EQUITY 10,000 38.000 Aset coon TOTAL TOTAL Revenue Expenses Net & Gains & Losses Income NE NE NE Decreased NE NE NB NE NE Increasel Decret Docrenale NE D D NE VE NE Land COD 10:00 A Abdulding torn down for $10,000 It had a book value of zero as it was fully depreciated. Cost was $38,000 cash. membership Expense LOD cash 100 A health club membership was purchased for the Chief Accountant - $100 cash for the rest of the year Cash 20,000 20.000 The Leadership of the Radical Party has paid $20,000 cash to the Ed Yost Bar & Grill for catering a political dinner Vegethu Spoles 400 400 Four hundred dollars of vegetables has spoiled due to an oversight Revonue WE NE 1 NE NE 1 I I no 50 NE NE I D NE D NE V NE M st A waitress accidently caused a fire. A table was destroyed it cost $200 and had been depreciated down to a $40 book value. The waitress paid the Bar & Grill $50 because the market value of the table was $70 N5 I NE T I NE I I NE Accu. Depreciation 160 Table 50 asset selling Prico so Gain Table lo 200 Book value - 40 Arsed
