Accounting question Assets Current = Long term Liabilities Current + Long term Capital Stock Retained +Revenues Stockholders Equity + Retained Earnings Expenses +Gains/ Losses Dividends Cash Inventory Building Accounts Payable Unearned Revenue Loan payable Earnings from last Cost of goods sold Utilities Wages $ 17,000 $ 2,700 $ 46,000 $ 2,000 $ 900 $ 37,000 $ 20,000 $ 5,800 Balance from last accounting period $ (5,000) $ 50,000 $ 45,000 A $ 4,200 $ 4,200 Purchased $4,200 of inventory on credit $ (950) B Paid 950 to employees for work during accounting period $ 3,200 $ (1,400) $ 3,200 $ (1,400) C D $ (260) Received bill for $260 for utilities $ (50) $ (50) E F G $ 14,200 $ 96,000 $ 6,460 $ 900 $ 20,000 $ 5,800 $ 3,200 $ (1,400) $ (260) $ (950) $ $ (50) $ 115,700 = H + $ 26,340 Liabilities $ 115,700 Revenues COGS $ 3,200 $ 1,400 (Not listed as negative since we always know expenses are subtracted) Beginning cash $ 17,000 Gross Profit I Assets Operating Utilities $ 260 Cash L Cash from sales P Other $ 950 Inventory $ 5,500 Payment to employees $ (950) Net Income $ 590 Building M $ 2,250 Total $ 115,700 Investing Statement of Equity Capital Sto Last Period $ 20,000 Retained Earnings Liabilities Cash paid for building J Accounts Payable $ 6,460 Q Sale of stock Unearned Revenue $ 900 Net Income K Loan Payable $ 82,000 Financing Dividends $ (50) Total $ 89,360 End of period $ 20,000 $ 6,340 Stockholders Equity Dividends $ (50) Capital Stock $ 20,000 $ (50) Retained Earnings N Ending Cash $ 14,200 Total Equity $ 26,340 Liabilities and Equity 0 .

1. Accounting question
Assets Current
=
Long term
Liabilities Current
+
Long term
Capital Stock
Retained
+Revenues
Stockholders Equity
+ Retained Earnings
Expenses
+Gains/
Losses Dividends
Cash Inventory Building
Accounts Payable
Unearned
Revenue Loan payable
Earnings from last
Cost of goods
sold Utilities Wages
$ 17,000

2. $
2,700
$ 46,000
$ 2,000
$ 900
$ 37,000
$ 20,000
$ 5,800
Balance from last accounting period
$ (5,000)
$ 50,000
$ 45,000
A
$
4,200
$ 4,200
Purchased $4,200 of inventory on credit
$ (950)
B
Paid 950 to employees for work during accounting period
$ 3,200
$
(1,400)

3. $ 3,200
$ (1,400)
C
D
$
(260)
Received bill for $260 for utilities
$ (50)
$ (50)
E
F
G
$ 14,200
$ 96,000
$ 6,460
$ 900
$ 20,000
$ 5,800
$ 3,200
$ (1,400) $
(260) $
(950) $
$ (50)

4. $
115,700
= H + $
26,340
Liabilities $ 115,700
Revenues COGS
$ 3,200
$ 1,400 (Not listed as negative since we always know expenses are subtracted) Beginning cash
$ 17,000
Gross Profit
I
Assets
Operating
Utilities
$ 260
Cash
L
Cash from sales
P
Other
$ 950
Inventory
$ 5,500

5. Payment to employees
$ (950)
Net Income
$ 590
Building
M
$ 2,250
Total
$ 115,700
Investing
Statement of Equity Capital Sto
Last Period $ 20,000
Retained Earnings Liabilities Cash paid for building
J Accounts Payable $ 6,460
Q
Sale of stock
Unearned Revenue
$ 900
Net Income
K
Loan Payable
$ 82,000
Financing

6. Dividends
$ (50)
Total
$ 89,360
End of period
$ 20,000 $ 6,340
Stockholders Equity
Dividends
$ (50)
Capital Stock
$ 20,000
$ (50)
Retained Earnings
N
Ending Cash
$ 14,200
Total Equity
$ 26,340
Liabilities and Equity
0
$
17,000
$ 2,700 $
46,000
$
2,000
$
900
$
37,000
$
20,000
$
5,800
Balance
from last
accounting
period
$
(5,000)
$
50,000
$
45,000
A

7. $ 4,200 $
4,200
Purchased
$4,200 of
inventory
on credit
$ (950) B Paid 950 to
employees
for work
during
accounting
period
$
3,200
$ (1,400) $
3,200
$
(1,400)
C
D $ (260) Received
bill for
$260 for
utilities
$ (50) $
(50)
E
F G
$
14,200
$
96,000
$
6,460
$
900
$
20,000
$
5,800
$
3,200
$
(1,400)
$
(260)
$
(950)
$
$
(50)