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  • Financial Statement

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    nm836219
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    1) The document shows accounting transactions for an entity with assets including cash, accounts receivable, supplies, and land. Liabilities include accounts payable. 2) Transaction details are provided including debits and credits affecting asset, liability, revenue, and expense accounts. 3) The accounting equation remains balanced with total assets equal to total liabilities and stockholders' equity after each transaction.

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    1) The document shows accounting transactions for an entity with assets including cash, accounts receivable, supplies, and land. Liabilities include accounts payable. 2) Transaction details are provided including debits and credits affecting asset, liability, revenue, and expense accounts. 3) The accounting equation remains balanced with total assets equal to total liabilities and stockholders' equity after each transaction.

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    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
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    4 views7 pages

    Financial Statement

    Uploaded by

    nm836219
    1) The document shows accounting transactions for an entity with assets including cash, accounts receivable, supplies, and land. Liabilities include accounts payable. 2) Transaction details are provided including debits and credits affecting asset, liability, revenue, and expense accounts. 3) The accounting equation remains balanced with total assets equal to total liabilities and stockholders' equity after each transaction.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 7

    accounting equation

    ASSET LIABILITY ST
    cash account recievable supply land account payable

    transaction 1 50000
    transaction 2 -40000 40000
    transaction 3 3700 3700
    transaction 4 7000
    transaction 5 3000
    transaction 6 -2700
    transaction 7 -1900 -1900
    transaction 8 no entry no entry no entry no entry no entry
    transaction 9 1000 -1000
    transaction 10 22000 -22000
    transaction 11 -2100
    sub-total 33300 2000 3700 18000 1800

    Asset Total Liability & Stock


    TOTAL: 57000 TOTAL:
    equation
    STOCK HOLDER`S EQUITY
    common stock retained earings retained earings retained earings
    revenue expense divident
    50000

    7000
    3000
    -2700

    no entry no entry no entry no entry

    -2100
    50000 10000 -2700 -2100

    Liability & Stock holder`s equity Total


    57000
    journal
    date describtion describtion debit credit
    transaction 1 cash 5000
    transaction 1 common stock 5000
    transaction 2 cash 40000
    transaction 2 land 40000
    transaction 3 supply 3700
    transaction 3 account payable 3700
    transaction 4 cash 7000
    transaction 4 revenue 7000
    transaction 5 account recievable 3000
    transaction 5 revenue 3000
    transaction 6 cash 2700
    transaction 6 expense 2700
    transaction 7 cash 1900
    transaction 7 account payable 1900
    transaction 8 no entry no entry no entry no entry
    transaction 8 no entry no entry no entry no entry
    transaction 9 cash 1000
    transaction 9 account recievable 1000
    transaction 10 cash 22000
    transaction 10 land 22000
    transaction 11 cash 2100
    transaction 11 divident 2100

    TOTAL 83400 83400


    ASSET
    CASH A/R SUPPLY LAND

    debit credit debit credit debit credit debit


    transaction 1 50000
    transaction 2 40000 40000
    transaction 3 3700
    transaction 4 7000
    transaction 5 3000
    transaction 6 2700
    transaction 7 1900
    transaction 8 no entry no entry no entry no entry no entry no entry no entry
    transaction 9 1000 1000
    transaction 10 22000
    transaction 11 2100

    sub-TOTAL: 80000 46700 3000 1000 3700 0 40000

    Total Of Debit

    TOTAL:
    posting to leadger
    LIABILITY
    LAND ACCOUNT PAYABLE

    credit debit credit

    3700

    1900
    no entry no entry no entry

    22000

    22000 1900 3700

    ebit Total Of credit

    133400 TOTAL: 133400


    STOCK HOLDER`S EQUITY
    COMMON STOCK REVENUE EXPENSE DIVIDENT

    debit credit debit credit debit credit debit credit


    50000

    7000
    3000
    2700

    no entry no entry no entry no entry no entry no entry no entry no entry

    2100

    0 50000 0 10000 2700 0 2100 0


    DENT

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