SUPER CLEANING COMPANY | ||||||||||||||||||||
Effect of events on the Financial Statement | ||||||||||||||||||||
Event No |
Balance Sheet | Income Statement | ||||||||||||||||||
Assets | Liabilities | + | Stockholders' Equity | Revenue | - | Expenses | = | Net income | ||||||||||||
Cash | + |
Accounts Receivable |
+ |
Prepaid Rent |
= |
Accounts Payable |
+ |
Unearned Revenue |
+ |
Common Stock |
+ |
Retained Earnings |
Statement fo Cash Flows |
|||||||
1 | $16,100 | + | + | = | + | + | $16,100 | + | - | = | $16,100 | FA | ||||||||
2 | + | $14,100 | + | = | + | + | + | $14,100 | $14,100 | - | = | $14,100 | ||||||||
3 | $5,100 | + | + | = | + | + | + | $5,100 | $5,100 | - | = | $5,100 | OA | |||||||
4 | $3,500 | + | + | = | + | $3,500 | + | + | - | = | $3,500 | OA | ||||||||
5 | $10,100 | + | ($10,100) | + | = | + | + | + | - | = | $10,100 | OA | ||||||||
6 | ($6,100) | + | + | = | + | + | + | ($6,100) | - | $6,100 | = | ($6,100) | ($6,100) | OA | ||||||
7 | + | + | = | + | ($1,750) | + | + | $1,750 | $1,750 | - | = | $1,750 | ||||||||
8 | + | + | = | $2,600 | + | + | + | ($2,600) | - | $2,600 | = | ($2,600) | ($1,650) | OA | ||||||
9 | ($1,650) | + | + | $1,650 | = | + | + | + | - | = | ($2,250) | OA | ||||||||
10 | ($2,250) | + | + | = | ($2,250) | + | + | + | - | = | ($2,600) | FA | ||||||||
11 | ($2,600) | + | + | = | + | + | + | ($2,600) | - | = | ||||||||||
12 | + | + | ($1,237.50) | = | + | + | + | ($1,237.50) | - | $1,237.50 | = | |||||||||
Bal. | $22,200 | + | $4,000 | + | $413 | = | $350 | + | $1,750 | + | $16,100 | + | $8,413 | $20,950 | - | $9,938 | = | $7,150 |
For Event 12,
Rent expense = 1,650 x (9/12 ) = $1,237.50
The following events pertain to Super Cleaning Company 1. Acquired $16.100 cash from the issue of...
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