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
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
100%

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

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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