CIS Financial Accounting class exam solution

Sheet3 Sheet2 Sheet1 Solution Class Exam 6 Oct 2009 Q1 Tabular Analysis Assets = Liabilities + Equity Cash Capital Equipment Revenue Expenses Accounts Receivable Payable Notes Payable utilities salaries Withdrawals Supplies telephone Total Asets Total Liabilities and Equity Income statement Best Training Less Expenses Salaries Telephone Utilities Total Expenses Net Income Statement of Owners Equity 30/9/2009 Opening Balance Capital Invested Closing Balance Balance Sheet Assets A.Receivable Total Liabilities and Equity A. Payable N. Payable Liabilities Equity: Total Liabilities and Equity Q 2 See notes/book d) a)-c) 1) 2) 3) 4) 5) cash, asset, increase. Revenue, equity, increase cash asset increase. Capital equity increase cash asset increase, note payable liability increase equipment asset increase, accounts payable liability increase cash asset decrease, withdrawals equity decrease. 0.00 00000.00 00000.00 0.00 0000.00 0000.00 0.00 -0000.00 00000.00 0000.00 0.00 0000.00 0000.00 0.00 -000.00 -000.00 0.00 0000.00 0000.00 0.00 -0000.00 -0000.00 0.00 0000.00 -0000.00 0.00 0000.00 0000.00 00.00 -0000.00 -0000.00 00.00 -0000.00 -0000.00 00.00 0000.00 0000.00 00.00 0000.00 0000.00 00.00 0000.00 0000.00 00.00 -0000.00 -0000.00 00.00 000.00 -000.00 00.00 -000.00 0000.00 000.00 00.00 -0000.00 -0000.00 00.00 -0000.00 -0000.00 00.00 -000.00 -000.00 00.00 -0000.00 -0000.00 00000.00 00000.00 0000.00 0000.00 00000.00 0000.00 -0000.00 00000.00 00000.00 -0000.00 00000.00 00000.00 9/1/2009 9/30/2009 00000.00 0.00 00000.00 00000.00 00000.00 00000.00 0000.00 0000.00 00000.00 0000.00 000.00 00000.00 0000.00 00000.00 000.00 0000.00 00000.00 0000.00 00000.00 00000.00 00000.00 00000.00