Question

Use Excel to prepare a transaction analysis of the nine transactions. Use the blue shaded areas for inputs.Use Excel to prepare a transaction analysis of the nine transactions. Use the blue shaded areas for inputs.

А D E F H I J K L M N O P Q Contributed Capital Common Stock Accounts Receivable Office Supplies Accounts Payable Retained Earnings Service Rent Salaries Dividends Revenue Expense Expense Total Assets Total Liabilities Total Equity A = L + SE Cash Land 1 +50,000 50,000 -23,000 27,000 이 이 +50,000 50,000 이 이 이 이 50,000 0C 50,000 TRUE 2 이 이 +23,000 023,0000 0 50,000 0 0 00 50,0000 50,000 TRUE 3 T 27,0000 +300 300 23,000 +300 30050,0000 0 00 50,300 300 50,000|TRUE 4 +7.500 34,500 +7,500 7,500 0 300 23,000 300 50,000 o 0 0 57,800 300 57,500 TRUE Received $50,000 cash from Luigi Stefanni and issued stock. Balance Purchased land for $23,000 cash. Balance Purchased $300 of office supplies on account. Balance Received $7,500 cash for services performed. Balance Performed services on account, $2,000. Balance Paid in cash: $1,500 for rent & $1,100 for employees' salaries Balance Paid $250 to creditor on account. Balance Collected $1,600 from customers on account. Balance Paid $4,000 cash dividend. Balance 5 +2,000 2,000 34,500 300 23,000 300 50,000 +2,000 9,500 0 0 0 59,800 300 59,500 TRUE 6 -1,500 -1,500 -1,100 -1,100 2,000 300 23,000 50,000 0 9,500 57,200 300 56,900 TRUE -2,600 31,900 -2501 31,650 7 300 -250 50 2,000 300 23,000 50,000 0 9,500 -1,500 -1,100 56,950 50 56,900 TRUE 8 -1,600 4001 300 23,000 50 50,000 9,500 -1,500 -1,100 56,950 50 56,900 TRUE +1,600 33,250 -4,000 29,250 9 0 -4,000 -4,000 400 300 23,000 50 50,000 9,500 -1,500 -1,100 52,950 52,900 TRUE

Answer 1

Please find answers attached and the formulae to use in each "blue"cell:

Answers to questions Formulae to used in the cells Income Statement Revenues: Service Revenue $ 9,500 =ENTERANSWERS1!J20 Expenses Salaries Expense Rent Expense Total Expenses Net Income $ $ 1,100 1,500 =ENTERANSWERS1!L20 =ENTERANSWERS1!K20 $ $ 2,600 6,900 Statement of Retained Earnings Retained Earnings Nov 1, 2018 Net Income for the month =ENTERANSWERS2!E15 $ $ $ $ $ - 6,900 6,900 4,000 2,900 =ENTERANSWERS1!120 Dividends Retained Earnings Nov 30, 2018 Balance Sheet Assets Cash Accounts Receivable Land Office Supplies Total Assets $ 29,250 $ 400 $ 23,000 $ 300 $ 52,950 =ENTERANSWERS1!C20 =ENTERANSWERS1!D20 =ENTERANSWERS1!F20 =ENTERANSWERS1!E20 Liabilities Accounts Payable =ENTERANSWERS1!G20 $ $ 50 50 Stockholder's Equity Common Stock Retained Earnings Total Stockholder's Equity Total liabilities and stockholder's Equity $ 50,000 $ 2,900 =ENTERANSWERS1!H20 =ENTERANSWERS3!E13 $ 52,900 $ 52,950

Answers to questions Formulae to used in the cells Statement of Cash Flows $ 9,100 =ENTERANSWERS1!C9+ENTERANSWERS1!C17 Cash flows from operating activities Receipts: Collections from customers Payments: To Employees To Suppliers Total Payments Net Cash provided by operating activities $ -1,100 $ -1,750 =ENTERANSWERS1!L13 =ENTERANSWERS1!K13+ENTERANSWERS1!C15 $ -2,850 $ 6,250 Cash flows from investing activities Acquisition of land Net cash used by investing activities $ -23,000 =ENTERANSWERS1!C5 $ -23,000 Cash flows from financing activities Issued Common stock Payment of cash dividends Net Cash provided by financing activities $ 50,000 $ -4,000 =ENTERANSWERS1!C3 =ENTERANSWERS1!C19 $ 46,000 $ 29,250 Net increase in cash Cash balance, Nov 1 2018 Cash balance, Nov 30 2018 $ 29,250