Homework Answers
A.
| Junker's Stash | Asset | Shareholder's Equity | Income Statement | ||||||||||||||
| Cash | + | Accounts Receivable | + | Inventory | + | Land | = | Common Shares | + | Retained Earnings | Revenue | - | Expense | = | Income | Statement of Cash Flow | |
| Opening Bal. | $ 85,000.00 | + | + | $ 15,500.00 | + | $12,000.00 | = | $75,000.00 | + | $ 37,500.00 | - | = | NA | ||||
| 1 | $ -75,000.00 | + | + | $ 75,000.00 | + | = | + | - | - | = | - | OA | |||||
| 2 | + | + | + | = | + | - | - | = | - | NA | |||||||
| 3a | + | $ 79,500.00 | + | + | = | + | $ 79,500.00 | $ 79,500.00 | - | = | $ 79,500.00 | NA | |||||
| 3b | + | + | $ -44,400.00 | + | = | + | $ -44,400.00 | - | $ 44,400.00 | = | $ -44,400.00 | NA | |||||
| 4a | + | $ -2,200.00 | + | + | = | + | $ -2,200.00 | $ -2,200.00 | - | = | $ -2,200.00 | NA | |||||
| 4b | + | + | $ 1,300.00 | + | = | + | $ 1,300.00 | - | $ -1,300.00 | = | $ 1,300.00 | NA | |||||
| 5 | $ -1,700.00 | + | + | + | = | + | $ -1,700.00 | - | $ 1,700.00 | = | $ -1,700.00 | OA | |||||
| 6a | + | $ -773.00 | + | + | = | + | $ -773.00 | $ -773.00 | - | = | $ -773.00 | NA | |||||
| 6b | $ 76,527.00 | + | $ -76,527.00 | + | + | = | + | $ - | - | = | $ - | OA | |||||
| 7 | $ -6,975.00 | + | + | + | = | + | $ -6,975.00 | - | $ 6,975.00 | = | $ -6,975.00 | OA | |||||
| 8 | $ 9,350.00 | + | + | + | $ -9,350.00 | = | + | $ - | - | = | $ - | IA | |||||
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