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 Operating Revenue: Balance Sheet Assets: Cash Flow Operations:

Investment: Operating Expenses: Liabilities:

Finance: Taxable Income: Owner Equity: Net Cash Flow Net Income: You have a small coffee shop in Portland 1. 2. 3. 4. 5. 6. 7. 8. A delivery of coffee is made -- along with an invoice for you to pay. You give your employees a raise. You increase the price of a regular cup of coffee and there is no decrease in sales. You have a customer with a large $1,000 tab. He just paid it off in cash! Vegas Baby! Grab $20,000 cash out of your business and go. Lend $10,000 to the bakery across the street. Take out a $20,000 and buy and new espresso machine. A delivery of milk is made. You pay cash for the delivery.

New Revenue Asset Definitions

Balance Sheet MUST balance! Sign Conventions

Cash Flow Echo