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Key Eq 114 Fall 2012

Key Eq 114 Fall 2012

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Published by Jamie Woods

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Published by: Jamie Woods on Nov 14, 2012
Copyright:Attribution Non-commercial

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03/11/2014

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Pass1 234 No Pass 5678Name:
Quiz 1 - Accounting
Instructions:
Write the number of each item in the appropriate section(s) of the appropriatefinancial statements below and indicate whether it is an increase or decrease.Income Statement Balance Sheet Cash FlowOperating Revenue:1 up, 8 up Operating Expenses:2 up, 5 down, 8 up Taxable Income: Net Income:  Assets:3 up and down, 4 down,6 up, 7 up Liabilities:4 down, 6 up Owner Equity:7 upOperations:1 up, 2 down, 5 up, 8 up Investment:3 down, 6 down Finance:4 down, 6 up, 7 up Net Cash Flow:You offer City Tours on a large purple bus.1.A quirky new web series features your series and you are now able to fill each tour.2.Gas prices rise.3.You purchase a boombox to play tunes while you drive from place to place.4.You make a large payment to cover the remaining balance on the loan you had taken out topurchase your bus.5.One of your regular drivers quits to go to graduate school. You decide to cover her routesyourself.6.A box of replacement seat cushions arrives with an invoice, payable in 30 days.7.Your old driver hates graduate school and offers you the $75,000 she would have spent intuition to buy into the business.8.Since you have been turning people away due to full buses, you decide to increase thenumber of trips you make each day
(Tricky)
 
New Revenue AssetBalance Sheet MUST balance! Sign ConventionsCash Flow Echo Definitions
 

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