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  • TEMPLATE W2 EXERCISE NO.2 ANSWER A.Bonito

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    Hanabusa Kawaii Idou
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    This document tracks assets, liabilities, and capital for a business over 12 transactions from April (a) to July (l). It starts with $300,000 in cash and $300,000 in capital. Throughout the periods, cash increases and decreases from expenses and revenue, assets like equipment and supplies are purchased and sold, and capital increases or decreases when the owner contributes or withdraws money from the business. By the final period (l), total assets equal total liabilities and capital at $376,800.

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    TEMPLATE-W2-EXERCISE-NO.2-ANSWER-A.Bonito

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    This document tracks assets, liabilities, and capital for a business over 12 transactions from April (a) to July (l). It starts with $300,000 in cash and $300,000 in capital. Throughout the periods, cash increases and decreases from expenses and revenue, assets like equipment and supplies are purchased and sold, and capital increases or decreases when the owner contributes or withdraws money from the business. By the final period (l), total assets equal total liabilities and capital at $376,800.

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    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
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    22 views2 pages

    TEMPLATE W2 EXERCISE NO.2 ANSWER A.Bonito

    Uploaded by

    Hanabusa Kawaii Idou
    This document tracks assets, liabilities, and capital for a business over 12 transactions from April (a) to July (l). It starts with $300,000 in cash and $300,000 in capital. Throughout the periods, cash increases and decreases from expenses and revenue, assets like equipment and supplies are purchased and sold, and capital increases or decreases when the owner contributes or withdraws money from the business. By the final period (l), total assets equal total liabilities and capital at $376,800.

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    © All Rights Reserved
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    of 2

    ASSETS

    CASH ACCOUNTS PHOTO EQUIPMENT =


    RECEIVABLE SUPPLIES
    a. 300,000 0 0 0 =
    Bal. 300,000 0 0 0 =
    b. 1,200 0 0 0 =
    Bal. 298,800 0 0 0 =
    c. 220,000 0 0 220,000 =
    Bal. 78,800 0 0 220,000 =
    d. 0 0 18,000 0 =
    Bal. 78,800 0 18,000 220,000 =
    e. 0 0 0 45,000 =
    Bal. 78,800 0 18,000 265,000 =
    f. 25,000 0 0 0 =
    Bal. 103,800 0 18,000 265,000 =
    g. 0 0 0 30,000 =
    Bal. 103,800 0 18,000 295,000 =
    h. 12,000 0 0 0 =
    Bal. 91,800 0 18,000 295,000 =
    i. 30,000 0 0 0 =
    Bal. 61,800 0 18,000 295,000 =
    j. 0 12,000 0 0 =
    Bal. 61,800 12,000 18,000 295,000 =
    k. 6,000 0 0 0 =
    Bal. 55,800 12,000 18,000 295,000 =
    l. 0 0 4,000 0 =
    Bal. 55,800 12,000 14,000 295,000 =

    Total Assets 376,800.00


    LIABILITIES & CAPITAL
    ACCOUNTS A.BONITO, REVENUE (EXPENSES)
    PAYABLE CAPITAL
    0 300,000 0 0
    0 300,000 0 0
    0 0 0 1,200 rent expense
    0 300,000 0 1,200 298,800.00 298,800.00
    0 0 0 0 -
    0 300,000 0 1,200 298,800.00 298,800.00
    18,000 0 0 0
    18,000 300,000 0 1,200 316,800.00 316,800.00
    45,000 0 0 0
    63,000 300,000 0 1,200 361,800.00 361,800.00
    0 0 25,000 0
    63,000 300,000 25,000 1,200 386,800.00 386,800.00
    0 30,000 0 0
    63,000 330,000 25,000 1,200 416,800.00 416,800.00
    0 12,000 0 0
    63,000 318,000 25,000 1,200 404,800.00 404,800.00
    30,000 0 0 0
    33,000 318,000 25,000 1,200 374,800.00 374,800.00
    0 0 12,000 0
    33,000 318,000 37,000 1,200 386,800.00 386,800.00
    0 0 0 6,000 salary expense
    33,000 318,000 37,000 7,200 380,800.00 380,800.00
    0 0 0 4,000 supplies expense
    33,000 318,000 37,000 11,200 376,800.00 376,800.00

    Total Liab. & Capital 376,800.00

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