Bài 2.

11

ASSETS =
TRANSACTION
Cash at bank Supplies Equipment =
1 35000
2 -14000 24000
21000 24000
3 5000
26000 24000
4 -1500
24500 24000
5 2100
24500 2100 24000
6 -1200
-250
23050 2100 24000
7 -2100
20950 2100 24000
8 -750
20950 1350 24000

JONE'S MOWER REPAIRS

Income Statement
for the moth ended 31 August 2016

Income
Repair service 5000

Expenses
Shop rent 1500
Supplies ued 750
Wages 1200
Electricity 250

Profit 1300
 LIABILITES + EQUITY
Account payable + Loan payable + Capital
35000
10000
10000 35000
5000
10000 40000
-1500
10000 38500
2100
2100 10000 38500
-1200
-250
2100 10000 37050
-2100
0 10000 37050
-750
0 10000 36300

JONE'S MOWER REPAIRS JONE'S M

Changes in equity Bala
for the moth ended 31 August 2016 as at 31

Beginning equity 35000 Assets

Profit/loss 1300
Capital contribution 0
Drawing 0 Total assets
Liabilities
Endding equity 36300

Total liabilities
Net Assets
Equity
 35000 35000
10000 10000
45000 45000
5000 5000
50000 50000
-1500 -1500
48500 48500
2100 2100
50600 50600
-1200 -1200
-250 -250
49150 49150
-2100 -2100
47050 47050
-750 -750
46300 46300

JONE'S MOWER REPAIRS

Balance sheet
as at 31 August 2016

Cash at bank 20950

Equipment 24000
Supplies 1350
46300

Account payable 0
Loan payable 10000
10000
36300

Capital 36300
 BÀI 2.14 https://ebookon.com/product/solution-manual-for-accounting-10th-edition-by-john-hoggett-j

No. Transactions
Income Statement Balance Shee
increase an asset: eq
1 Purchase equipment for cash decrease an asset:
Provide services to a client, increase an asset: a
with payment to be received receivable
2 within 40 days increase income increase equity
decrease an asset:
3 Pay a liability decrease a liabi

Invest additional cash into increase an asset:

4 the business by the owner increase equity

increase an asset:
Collect an account receivable decrease an asset: a
5 in cash receivable

decrease an asset
6 Pay wages to employees increase expenses. decrease equit

Receive the electricity bill decrease equi

in the mail, to be paid within 30 increase a liability: a
7 days increase expenses. increasepayable.
an asset:
decrease an asset: eq
Sell a piece of equipment increase income increase equity (if a p
8 for cash (if a profit was made on the sale). made on the sa

Withdraw cash by the owner decrease equi

9 for private usage. decrease an asset:

increase an asset
Borrow money on a long-term increase a liability:
10 basis from a bank payable.
Lấy tiền mình rót vốn vào cty
bằng cách đặt cọc tại ngân cash: In
trans 1 hàng equity-capital:

cash: De
trans 2 dùng tiền mặt mua equip (A) equip: In

Lia: acc payable

trans 3 mua supplies bằng credit increase expenses.? A- sup: In

A L E
1 purchase by credit I I
buy on cash D
2 nhận đc khoản receivable I
 owner with draw cash
trar 1 khoản tri phí D
3 loss D supplies D Supp used $20
4 Đầu tư I I
c5ó tiền trả khoản nợ trong tương lai
D D
6 rút tiền mặt

đầu tư
có revenue I I

The owner invested $20000 in

1 to the business
buy Eqip on cash at the amount
2 of $7000

Invested
3 gain revenue
perform business to customers
4 and they promised to pay

5 purchase Supp on credit

6 customers pay debt

Loss
pay expense on cash
7 owner withdraw

8 Supp used $2000

9 pay debt
dition-by-john-hoggett-john-medlin-keryn-chalmers-claire-beattie-andreas/

Efects on

Balance Sheet Statement of changes in Equity Cash flow statement

increase an asset: equipment Decrese cash flow
decrease an asset: cash. (from investing activities)
increase an asset: account
receivable
increase equity. increase equity.
decrease an asset: cash Decrese cash flow
decrease a liability. ( from operating activities).

increase an asset: cash cash in flow

increase equity. equity is increased. (from financing activities).

increase an asset: cash

decrease an asset: accounts cash in flow
receivable (from operating activities).

decrease an asset: cash cash out flow

decrease equity. (from operating activities)

decrease equity
increase a liability: accounts
increasepayable.
an asset: cash decrease equity.
decrease an asset: equipment
increase equity (if a profit was increase equity cash in flow
made on the sale). (if a profit was made on the sale). (from investing activities).

decrease equity cash out flow

decrease an asset: cash. decrease equity. (from financing activities).

increase an asset : cash

increase a liability: loan cash in flow
payable. (from financing activities
cash: In
equity-capital: In

cash: De
(A) equip: In

Lia: acc payable: In

A- sup: In
Supp used $2000
Bài 2.9 E1 +Profit -Drawing = E2
Income - Expense = Profit
Assets = Liabilites
Cash A/r Prp Insurance Equip Proverty A/p
Oct 9100 16100 700 29800 226000 10100
Nov 3900 15000 1800 29700 224000 3100
Dec 3000 8050 1600 39300 222000 3000

Adam Booth, Lawyer

Balance Sheet
as at the end of December 2016

Assets
Cash at bank 3000
Accounts receivable 8050
Prepaid insurance 1600
Equipment 39300
Proverty 222000
Total assets 273950
Liabilities
Acountd payabble 3000
Wages 4800
Mortgage payable 133900
Total liabilities 141700
Net assets 132250
Equity Capital 132250
Total equity 132250
Liabilites + Equity
Wages Mortgage Cap PROFIT/LOSS
5100 134700 131800
4100 134300 132900 1100
4800 133900 132250 -650
BÀI 2.13

a. Effect of each business transaction on balance sheet:

Sept 1: Eliza deposited $40000 cash into the business bank account.
ELIZA’S WEBDESIGN SERVICE
Balance Sheet
as at 1 September 2019

ASSETS
Cash on hand 40000
TOTAL ASSETS 40000

EQUITY
Eliza's capital 40000
TOTAL EQUITY 40000

Sept 2: A computer, telephone system and printer were purchased at a cost of $10 000 cash.
ELIZA’S WEBDESIGN SERVICE
Balance Sheet
as at 2 September 2019

ASSETS
Cash on hand 30000
Equipment 10000
TOTAL ASSETS 40000

EQUITY
Eliza's capital 40000
TOTAL EQUITY 40000

Sept 4: A part-time receptionist was hired to commence in October 2019.

ELIZA’S WEBDESIGN SERVICE
Balance Sheet
as at 4 September 2019

ASSETS
Cash on hand 30000
Equipment 10000
TOTAL ASSETS 40000

EQUITY
Eliza's capital 40000
TOTAL EQUITY 40000

Sept 6: Web design services were provided to clients for $12 000. The clients were invoiced but have not as yet
ELIZA’S WEBDESIGN SERVICE
Balance Sheet
as at 6 September 2019

ASSETS
Cash on hand 30000
Equipment 10000
Account receivable 12000
TOTAL ASSETS 52000

EQUITY
Eliza's capital 52000
TOTAL EQUITY 52000

Sept 7: Advertising for the week amounts to $1000 cash.

ELIZA’S WEBDESIGN SERVICE
Balance Sheet
as at 7 September 2019

ASSETS
Cash on hand 29000
Equipment 10000
Account receivable 12000
TOTAL ASSETS 51000

EQUITY
Eliza's capital 51000
TOTAL EQUITY 51000

Sept 8: A customer paid $3000 in advance for web design services scheduled for October.
ELIZA’S WEBDESIGN SERVICE
Balance Sheet
as at 8 September 2019

ASSETS
Cash on hand 32000
Equipment 10000
Account receivable 12000
TOTAL ASSETS 54000

LIABILITIES
Unearned revenue 3000
TOTAL LIABILITIES 3000

EQUITY
Eliza's capital 51000
TOTAL EQUITY 51000

b. The expected tasks of Eliza as the manager of Eliza’s Webdesign Service.

As the owner-manager of Webdesign Service, Eliza needs to ensure to maximize the wealth of her bussiness.
In order to achieve that, Eliza need to perform some task follow:

Planning: Eliza needs to set goals to be achieved and making sure that future operations of the business are bo
effective and efficient. Eliza must decide the strategies should be implemented to achieve the business’ goals. F
example, she has to plan ahead how to get more capital (from her own finance or bank loan), how many more
employees, and whether to move to bigger premises.

Organising: Eliza needs to organize her business to make sure that it operates effectively and efficiently. She ha
organize: purchasing supplies and equipment required, paying bills, hiring and training new employees, and
negotiating with clients.
Directing: Eliza needs has to communicate the business’ goals to her employees and provide direction for them
achieve the goals, including answering questions from her employees and resolving problems/disagreements wit
them.

Controlling: Eliza need to regularly evaluate her business performance to make sure that these performances i
line with the business’ goals. If there are any variations from exepected results, she should decide to teke some
to improve her busisness.
voiced but have not as yet paid.
wealth of her bussiness.

ons of the business are both

eve the business’ goals. For
k loan), how many more

vely and efficiently. She has to

new employees, and
provide direction for them to
oblems/disagreements with

that these performances is in

ould decide to teke some action
 SKILLED SERVICES
Income statement
for the year ended 30 June 2016

Income
Service income 250000

Expenses
Wages 136000
Office 12000
Electricity 13700

Profit 88300
 GEORGE KARATSIS IT SERVICE
Balance Sheet
as at 31 May 2019
ASSETS
Assets
Account receivable 70000
Cash at bank 61000
Land 250000
Equipment 180000
Supplies 34000
Building 520000
1115000
Liabilities
Account payable 64000
Mortgage payable 710000
774000

Enquity
Capital 341000
 BALANCE SHEET
as at 31 May 2016

LIABILITIES
Cash at ba 61000 A/p 64000
A/R 70000 Mortgage p 710000
Building 520000 774000
Land 250000 EQUITY
Equipment 180000 Capital 341000
Supplies 34000
1115000 1115000
 2016 2017 2018
Assets 580000 650000 740000
Liabilities 350000 370000 420000
Equity 230000 280000 320000

Statement of changes in equity

for the year ended 30 June

2016 2017 2018

Beginning Equity 210000 230000 280000
Profit/Loss 0 20000 45000
Capital contribution 0 30000 25000
Drawing -20000 0 -30000

Ending equity 230000 280000 320000

3.1 +3.6 https://www.studocu.com/en-au/document/university-of-wollongong/accounting-fundamentals
3.4 + Prob 3.2 https://www.studocu.com/en-au/document/victoria-university/accounting-information-systems
chap 3 https://studylib.net/doc/25347026/solutions-financial-acc-chapter-3
ng/accounting-fundamentals-in-society/accy-111-tutorial-4/7803809
ounting-information-systems/tute-soln-tw3/3927438
 2016 2015 2014
Equity 27300 30000 28000

Statement of changes in equity

for the year ended 30 June

2015 2016
Beginning Equity 28000 30000
Profit/Loss 19000 22300
Capital contribution 8000
Drawing -25000 -25000

Ending equity 30000 27300

 2015 2016
A 62500 56000
L 41000 38000
E 21500 18000

SARAH HODGE
Statement of changes in equity
for the year ended 30 June
A B C
Beginning Equity 21500 21500 21500
Profit/Loss -3500 11500 -11500
Capital contribution 0 20000
Drawing 0 -15000 -12000

Ending equity 18000 18000 18000