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  • Key Eq 117 Fall 2012

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    Jamie Woods
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    Write the number of each item in the appropriate section(s) of the appropriate financial statements below and indicate whether it is an increase or decrease. A new pizzeria takes out a loan (zero interest) to have extra cash on hand. Hire two employees to make dough and sauce in the mornings. Hire two dozen chair and table sets on the company credit card.

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    Write the number of each item in the appropriate section(s) of the appropriate financial statements below and indicate whether it is an increase or decrease. A new pizzeria takes out a loan (zero interest) to have extra cash on hand. Hire two employees to make dough and sauce in the mornings. Hire two dozen chair and table sets on the company credit card.

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    Download as PDF, TXT or read online from Scribd
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    61 views1 page

    Key Eq 117 Fall 2012

    Uploaded by

    Jamie Woods
    Write the number of each item in the appropriate section(s) of the appropriate financial statements below and indicate whether it is an increase or decrease. A new pizzeria takes out a loan (zero interest) to have extra cash on hand. Hire two employees to make dough and sauce in the mornings. Hire two dozen chair and table sets on the company credit card.

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    Attribution Non-Commercial (BY-NC)
    Download as PDF, TXT or read online from Scribd
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    of 1

    Pass No Pass Name: 5

    1 6

    2 7

    3 8

    Quiz 1 - Accounting
    Instructions: Write the number of each item in the appropriate section(s) of the appropriate financial statements below and indicate whether it is an increase or decrease. Income Statement Balance Sheet Cash Flow Operating Revenue: Assets: Operations: 4 up 1 up, 3 up, 5 down, 6 2 down, 4 up down, 7 up and down, 8 up and down Investment: 3 down, 7 down Operating Expenses: 2 up Liabilities: 1 up, 3 up, 5 down Finance: 1 up, 3 up, 5 down, 6 down, 8 up and down Taxable Income:

    Owner Equity: 6 down, 8 up and down Net Income:

    Net Cash Flow:

    You and two friends open a new pizzeria. 1. You take out a loan (zero interest) to have extra cash on hand. 2. You hire two employees to make dough and sauce in the mornings. 3. You purchase two dozen chair and table sets on the company credit card. 4. Willamette Week gives your shop a glowing review, and the customers start pouring in. 5. You make a large payment on your loan. 6. You take $5000 from the business for personal use. 7. You purchase a new wood fired pizza oven with cash. 8. One of your friends wants out of the business, so the other friend buys his share. (Complex could be one and and one out. Lots of different interpretations.)

    New Revenue Asset Definitions

    Balance Sheet MUST balance!

    Sign Conventions

    Cash Flow Echo

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