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Answers are entered in the cells with gray backgrounds.
Cells with non-gray backgrounds are protected and cannot be edited.
Enter the appropriate amounts/formulas in the answer cells, or select from the drop-down list. In part 2, place
a plus sign or minus sign in the small box beside the amount. Row (a) has been completed as an example.
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1.

+ Supplies

Land

= Liabilities +
Accounts
= Payable +

50,000

18,000

Owner's
Equity
Anny Brum,
Capital
Anny Brum,
Capital

18,000

Anny Brum,
Capital

Assets
Cash
25,000

Accounts
Receivable

+
+

30,000

5,000
110,000
92,000

2.

= Anny Brum, Capital

Assets

Cash
Bal.
a.
Bal.
b.
Bal.
c.
Bal.
d.
Bal.
e.
Bal.
f.
Bal.
g.
Bal.
h.
Bal.
i.
Bal.
j.
Bal.
k.
Bal.
l.

+
-

+
+

Accounts
+ Receivable +

=
=
Supplies

Land

25,000
15,000
40,000
20,000
20,000
3,000
17,000
-

30,000
30,000
30,000
30,000
22,000

5,000
5,000
5,000
5,000
-

17,000
13,000
4,000
-

52,000
52,000
-

5,000
5,000
1,000

70,000
70,000
-

4,000
28,000
32,000
27,000
59,000
59,000
19,200
39,800
39,800
1,000

52,000
52,000
27,000
25,000
25,000
25,000
25,000
-

6,000
6,000
6,000
6,000
6,000
2,600
3,400
-

70,000
70,000
70,000
70,000
70,000
70,000
-

50,000
50,000
20,000
70,000
70,000
-

Liabilities

Accounts
Payable

Anny Brum,
Anny Brum,
Capital
Drawing
+

18,000
18,000
18,000
18,000
-

92,000
+ 15,000
107,000
107,000
107,000
-

18,000
13,000
5,000
1,000

107,000
107,000
-

6,000
6,000
6,000
21,500
27,500
27,500
27,500
-

107,000
107,000
107,000
107,000
107,000
107,000
-

1,000

Bal.

38,800

25,000

3,400

70,000

27,500

107,000

(1,000)

Owner's Equity
Dry
Cleaning
Revenue

Dry
Cleaning
Expense

Wages
Expense

22,000

22,000
22,000
-

22,000
28,000
50,000
50,000
50,000
50,000
50,000
-

21,500
(21,500)
(21,500)
(21,500)
-

14,000
(14,000)
(14,000)
-

Rent
Expense

Supplies
Expense

Truck
Expense

Utilities
Expense

Misc.
Expense

3,000
(3,000)
-

(3,000)
(3,000)
-

(3,000)
(3,000)
(3,000)
(3,000)
(3,000)
(3,000)
-

2,600
(2,600)
-

2,100
(2,100)
(2,100)
-

1,800
(1,800)
(1,800)
-

1,300
(1,300)
(1,300)
-

50,000

(21,500)

(14,000)

(3,000)

(2,600)

(2,100)

(1,800)

(1,300)

Income Statement

Statement of Owner's Equity

Balance Sheet

Statement of Cash Flows

3. a.

ANNY'S DRY CLEANERS

Income Statement

Dry cleaning revenue

Expenses:
Dry Cleaning Expense
Wages Expense
Rent Expense
Supplies Expense
Truck Expense
Utilities Expense
Misc. Expense
Total expenses
Net income

b.

50,000

46,300
3,700

$ 21,500
14,000
3,000
2,600
2,100
1,800
1,300

ANNY'S DRY CLEANERS

Statement of Owner's Equity

Anny Brum, capital, June 1, 2012

Investments
Net Income for June
Less withdrawals
Increse owner's equity
Anny Brum, capital, June 30, 2012

92,000

17,700
109,700

15,000
3,700

18,700
1,000

c.

ANNY'S DRY CLEANERS

Balance Sheet

Assets
Cash
Accounts Recievable
Supplies
Land
Total assets

$ 38,800
25,000
3,400
70,000
$ 137,200

Liabilities
Accounts payable
Owner's Equity
Amy Brum, capital
Total liabilities and
owner's equity

4.

ANNY'S DRY CLEANERS

Statement of Cash Flows

Cash flows from operating activities:

Cash received from customers
Deduct cash payments for expenses
Net cash flow from operating activities
Cash flows from investing activities:
Cash payments for purchase of land
Cash flows from financing activities:
Cash received as owner investment
Deduct cash withdrawals by owner

$ 55,000
35,200
$
*
*
*

19,800
(20,000)

$ 15,000
1,000