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I don't have the book so you can find online via courshero or chegg...just do not copy word for word so that it's not palgiarized
Week 2 Problem Sets...USE TEMPLATE
- Exercise 2-15A on page 110
- Exercise 2-19A on page 111
- Exercise 2-27A on page 113
- Exercise 2-29A on page 114
- Exercise 2-30A on page 114
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EXERCISE 2-15A
a.
Life, Inc.
Effect of Events on the Accounting Equation
Assets
Prepaid
Cash
Rent
Event
= Stockholders’ Equity
=
Retained Earnings
1. Performed Services
2. Prepaid Rent
3. Used Rent
Totals
=
*
b.
Life, Inc.
Income Statement
For the Year Ended December 31, 2016
Revenue
Expense
Net Income
Life, Inc.
Balance Sheet
As of December 31, 2016
Assets
Cash
Prepaid Rent
Total Assets
Liabilities
Stockholders’ Equity
Retained Earnings
Total Stockholders’ Equity
Total Liab. and Stockholders’ Equity
EXERCISE 2-15A b. (cont.)
Life, Inc.
Statement of Cash Flows
For the Year Ended December 31, 2016
Cash Flows From Operating Activities:
Cash Receipt from Revenue
Cash Payment for Rent
Net Cash Flow from Operating Activities
Cash Flows From Investing Activities
Cash Flows From Financing Activities:
Net Change in Cash
Plus: Beginning Cash Balance
Ending Cash Balance
c.
EXERCISE 2-19A
Hart Attorney At Law
Effect of Transactions on the Financial Statements for 2016
No.
1.
2.
3.
4.
5.
6.
7.
8.
Totals
Balance Sheet
=
+ S. Equity
Assets
Liabilities
Accts.
Unearn.
Retained
+ Earnings
Cash + Supplies = Payable +
Rev.
51,600
+
+
+
+
+
+
+
+
+
=
=
=
=
=
=
=
=
200 =
400
+
+
+
+
+
+
+
+
+
9,000
+
+
+
+
+
+
+
+
+
42,400
Income Statement
= Net Inc.
−
Rev
Exp.
Statement of
Cash Flows
=
=
=
=
=
=
=
=
33,600 =
51,600 NC
81,000
−
−
−
−
−
−
−
−
−
47,400
EXERCISE 2-27A
Event/Adj.
a. Event
Adj.
b. Event
Adj.
b. Event
No adj.
d. Event
Adj.
e. Event
No adj.
f. Event
No adj.
f. Event
No adj.
g. Event
No adj.
h. Event
No adj.
Net Income
Direction of
Amount of
Change
Change
Cash Flow from
Operating Activities
Direction of
Amount of
Change
Change
EXERCISE 2-29A
a.
b.
c.
d.
e.
f.
g.
h.
i.
j.
EXERCISE 2-30A
a.
b.
c.
d.
e.
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