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Instructions: 1) Refer to the balance sheet for Metropolitan Movers Company. 2) Using the accounts given, create/make up 10 possible transactions which may happen with this company. Write these transactions on the excel spreadsheet. As you create the 10 transactions, you may create NEW accounts as required, 3) Using the 10 transactions that you created, make a transaction analysis sheet to keep track of your accounts. 4) Using the new balances from your Transaction Analysis Sheet, create a new balance sheet on the same excel spreadsheet to show the new revised balance sheet with today's date. Assets Cash Accounts Receivable B. Cava K. Lincoln Equipment Trucks Total Assets $1 1 5 $60 Metropolitan Movers Co. Balance Sheet August 31, 2021 0 2 00 1 4 0 0 13 5 7 5 42 5 0 0 00 00 00 00 00 6 2 5 00 Liabilities Accounts Payable Central Supply Loan Payable Mercury Finance Total Liabilities Owners' Equity J. Hofner, Capital Total Liabilities and Equity $1 3 25 1 7 $26 $34 $60 1 5 SE 6 5 2 0 00 | C 0 0 00 2 0 00 oo 55 00 00

Instructions: 1) Refer to the balance sheet for Metropolitan Movers Company. 2) Using the accounts given, create/make up 10 possible transactions which may happen with this company. Write these transactions on the excel spreadsheet. As you create the 10 transactions, you may create NEW accounts as required, 3) Using the 10 transactions that you created, make a transaction analysis sheet to keep track of your accounts. 4) Using the new balances from your Transaction Analysis Sheet, create a new balance sheet on the same excel spreadsheet to show the new revised balance sheet with today's date. Assets Cash Accounts Receivable B. Cava K. Lincoln Equipment Trucks Total Assets $1 1 5 $60 Metropolitan Movers Co. Balance Sheet August 31, 2021 0 2 00 1 4 0 0 13 5 7 5 42 5 0 0 00 00 00 00 00 6 2 5 00 Liabilities Accounts Payable Central Supply Loan Payable Mercury Finance Total Liabilities Owners' Equity J. Hofner, Capital Total Liabilities and Equity $1 3 25 1 7 $26 $34 $60 1 5 SE 6 5 2 0 00 | C 0 0 00 2 0 00 oo 55 00 00

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Instructions: 1) Refer to the balance sheet for Metropolitan Movers Company. 2) Using the accounts given, create/make up 10 possible transactions which may happen with this company. Write these transactions on the excel spreadsheet. As you create the 10 transactions, you may create NEW accounts as required, 3) Using the 10 transactions that you created, make a transaction analysis sheet to keep track of your accounts. 4) Using the new balances from your Transaction Analysis Sheet, create a new balance sheet on the same excel spreadsheet to show the new revised balance sheet with today's date. Assets Cash Accounts Receivable B. Cava K. Lincoln Equipment Trucks Total Assets $1 150 00 21 13 42 Metropolitan Movers Co. Balance Sheet August 31, 2021 $60 6 00000 400 5 7 5 5 0 0 2 8888 5 00 Liabilities Accounts Payable Central Supply Loan Payable Mercury Finance Total Liabilities Owners' Equity J. Hofner, Capital Total Liabilities and Equity $1 3 25 1 5 $26 $34 $60 5 7 2 1 0 6 2 oo 0 0 LOLO 5 5 00 00 00 00 00
Transcribed Image Text:Instructions: 1) Refer to the balance sheet for Metropolitan Movers Company. 2) Using the accounts given, create/make up 10 possible transactions which may happen with this company. Write these transactions on the excel spreadsheet. As you create the 10 transactions, you may create NEW accounts as required, 3) Using the 10 transactions that you created, make a transaction analysis sheet to keep track of your accounts. 4) Using the new balances from your Transaction Analysis Sheet, create a new balance sheet on the same excel spreadsheet to show the new revised balance sheet with today's date. Assets Cash Accounts Receivable B. Cava K. Lincoln Equipment Trucks Total Assets $1 150 00 21 13 42 Metropolitan Movers Co. Balance Sheet August 31, 2021 $60 6 00000 400 5 7 5 5 0 0 2 8888 5 00 Liabilities Accounts Payable Central Supply Loan Payable Mercury Finance Total Liabilities Owners' Equity J. Hofner, Capital Total Liabilities and Equity $1 3 25 1 5 $26 $34 $60 5 7 2 1 0 6 2 oo 0 0 LOLO 5 5 00 00 00 00 00
A 1 Transactions for Metropolitan Movers Company -~3456789 2 Example of Showing your Transactions on a spreadsheet 4 Date: 10 11 12 13 14 Transaction 01-Sep Purchased more equipment for $500 with cash 12-Sep Provided $1200 moving services on account to B. Cava A Example of Transaction Analysis Sheet 1 2 3 4 Date 5 6 7 8 9 10 11 12 B B с D E Transaction Analysis Sheet for Metropolitan Movers Co. Cash A/R - B. Cava F ASSETS A/R - K. Lincoln Equipment Trucks с Accounts Affected Cash Equipment Accounts Receivable Capital G D Increase $500 $1,200 $1,200 H E Decrease $500 F LIABILITIES + OWNER'S EQUITY A/P - Central Supply Loan Payable - Mercury Finance J. Hofner, Capital
Transcribed Image Text:A 1 Transactions for Metropolitan Movers Company -~3456789 2 Example of Showing your Transactions on a spreadsheet 4 Date: 10 11 12 13 14 Transaction 01-Sep Purchased more equipment for $500 with cash 12-Sep Provided $1200 moving services on account to B. Cava A Example of Transaction Analysis Sheet 1 2 3 4 Date 5 6 7 8 9 10 11 12 B B с D E Transaction Analysis Sheet for Metropolitan Movers Co. Cash A/R - B. Cava F ASSETS A/R - K. Lincoln Equipment Trucks с Accounts Affected Cash Equipment Accounts Receivable Capital G D Increase $500 $1,200 $1,200 H E Decrease $500 F LIABILITIES + OWNER'S EQUITY A/P - Central Supply Loan Payable - Mercury Finance J. Hofner, Capital
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