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Please refer to the attached files.
Solve:
Exercise 2-15A Exercise 2-19A Exercise 2-27A Exercise 2-29A Exercise 2-30A
Use the MS Word template attached to annotate answers.
Problem
EXERCISE 2-15A
a.
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Life, Inc. Effect of Events on the Accounting Equation |
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Assets |
= |
Stockholders’ Equity |
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Event |
Cash |
Prepaid Rent |
= |
Retained Earnings |
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1. Performed Services |
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2. Prepaid Rent |
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3. Used Rent |
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Totals |
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*
b.
| Life, Inc. |
Income Statement |
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Rev enue |
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Expense |
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Net Income |
Balance Sheet
As of December 31, 2016
Assets
Cash
Prepaid Rent
Total Assets
Liabilities
Stockholders’ Equity
Retained Earnings
Total Stockholders’ Equity
Total Lia
b.
and Stockholders’ Equity
EXERCISE 2-15A b. (cont.)
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Life, Inc.
Statement of Cash Flows For the Year Ended December 31, 2016 |
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Cash Flows From Operating Activities : |
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Cash Receipt from Revenue |
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Cash Payment for Rent |
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Net Cash Flow from Operating Activities |
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Cash Flows From Investing Activities |
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Cash Flows From Financing Activities: |
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Net Change in Cash |
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Plus: Beginning Cash Balance |
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Ending Cash Balance |
c.
EXERCISE 2-19A
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Hart Attorney At Law Effect of Transactions on the Financial Statements for 2016 |
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| Statement of | ||||||||||||||||||||||||||||||||
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+ |
S. Equity |
Rev |
Exp. |
Net Inc. |
Cash Flows | |||||||||||||||||||||||||||
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No. |
+ |
Supplies |
Accts. Payable |
Unearn. Rev. |
Retained Earnings |
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| 1. | ||||||||||||||||||||||||||||||||
| 2. | ||||||||||||||||||||||||||||||||
| 3. | ||||||||||||||||||||||||||||||||
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4. |
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5. |
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6. |
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7. |
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8. |
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51,600 |
200 |
400 |
9,000 |
42,400 |
81,000 |
33,600 |
47,400 |
51,600 NC |
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EXERCISE 2-27A
Operating Activities
Event/Adj.
Direction of Change
Amount of Change
Direction of Change
Amount of Change
a. Event
Adj.
b. Event
Adj.
b. Event
No adj.
d.
Event
Adj.
e.
Event
No adj.
f.
Event
No adj.
f. Event
No adj.
g. Event
No adj.
h. Event
No adj.
EXERCISE 2-29A
a.
b.
c.
d.
e.
f.
g.
h.
i.
j.
EXERCISE 2-30A
a.
b.
c.
d.
e.
