Accounting Solution 1.1 (Introduction to Accounting)
The table below provides the solution:
| No |
Balance Sheet |
Income Statement |
Statement |
|||||||||||||
| Cash |
+ |
Land |
= |
L. Pay |
+ |
Cont. |
+ |
Ret. |
Rev. |
- |
Exp. |
= |
Net |
|||
| Transactions for 20X6 |
||||||||||||||||
| BB |
0 |
+ |
0 |
= |
0 |
+ |
0 |
+ |
0 |
0 |
- |
0 |
= |
0 |
|
|
| 1 |
4,000 |
+ |
n/a |
= |
n/a |
+ |
4,000 |
+ |
n/a |
n/a |
- |
n/a |
= |
n/a |
4,000 |
FA |
| 2 |
2,000 |
+ |
n/a |
= |
n/a |
+ |
n/a |
+ |
2,000 |
2,000 |
- |
n/a |
= |
2,000 |
2,000 |
OA |
| 3 |
1,000 |
+ |
n/a |
= |
1,000 |
+ |
n/a |
+ |
n/a |
n/a |
- |
n/a |
= |
n/a |
1,000 |
FA |
| 4 |
(500) |
+ |
n/a |
= |
n/a |
+ |
n/a |
+ |
(500) |
n/a |
- |
500 |
= |
(500) |
(500) |
OA |
| 5 |
(1,500) |
+ |
1,500 |
= |
n/a |
+ |
n/a |
+ |
n/a |
n/a |
- |
n/a |
= |
n/a |
(1,500) |
IA |
| EB |
5,000 |
+ |
1,500 |
= |
1,000 |
+ |
4,000 |
+ |
1,500 |
2,000 |
- |
500 |
= |
1,500 |
5,000 |
|
| Transactions for 20X7 |
||||||||||||||||
| BB |
5,000 |
+ |
1,500 |
= |
1,000 |
+ |
4,000 |
+ |
1,500 |
0 |
- |
0 |
= |
0 |
5,000 |
|
| 1 |
1,000 |
+ |
n/a |
= |
n/a |
+ |
1,000 |
+ |
n/a |
n/a |
- |
n/a |
= |
n/a |
1,000 |
FA |
| 2 |
3,000 |
+ |
n/a |
= |
n/a |
+ |
n/a |
+ |
3,000 |
3,000 |
- |
n/a |
= |
3,000 |
3,000 |
OA |
| 3 |
(500) |
+ |
n/a |
= |
(500) |
+ |
n/a |
+ |
n/a |
n/a |
- |
n/a |
= |
n/a |
(500) |
FA |
| 4 |
(600) |
+ |
n/a |
= |
n/a |
+ |
n/a |
+ |
(600) |
n/a |
- |
600 |
= |
(600) |
(600) |
OA |
| 5 |
(1,500) |
+ |
n/a |
= |
n/a |
+ |
n/a |
+ |
(1,500) |
n/a |
- |
n/a |
= |
n/a |
(1,500) |
FA |
| EB |
6,400 |
+ |
1,500 |
= |
500 |
+ |
5,000 |
+ |
2,400 |
3,000 |
- |
600 |
= |
2,400 |
6,400 |
|
Location