X Cut- 11A A= = =Wrap TextArialED CopyPasteConditional Format as4.BIU-田,.A-川A.三三言園Merge & Center▼$ - % ,60 .00.00 .0Format PainterFormatting TableNumberStylesClipboardFontAlignmentC2fxName:Section:#:Problem 1-1 -- The Coffee Can Accounting System%3D++CashDr.Cr.Beg. BalanceEnding BalanceEnding BalanceEnding BalanceEnding BalanceTrial BalanceAccount NameTotalRIKINGeneral Ledger. Trial Rl Screen 1 D$0$0Start OverAssetsLlabilitiesOwners' EquityI Put$200 Cashinto theOrganizationNoteMyDrBeginning BalanceCashCrDrPayableCrDrEquityCrBeginning BalanceBeginning BalanceCurrent BalanceSister Puts$150 Cashinto theOrganizationCurrent BalanceCurrent BalanceSister'sSister Takes$20 Cash outof theDrEquityCrBeginning BalanceOrganizationCurrent BalanceI Take$15 Cash out.of theOrganizationBalance SheetTrial BalanceDad Loans$100 Cash toOrganizationon a NoteAssets:CashAccount NameCashDebitCreditTotal AssetsNote PayableMy EquitySister's Equity$25 Paymentmade to Dadon the NotePayableLiabilities:Note PayableTotalTotal LiabilitiesOwners' Equity:My EquitySister's EquityTotal Owners' EquityPrepare theTrial BalancePrepare theBalance SheetTotal Liabilities & EquityStuff&claimsStuffaciaimsDad s InAccounting TermsDebits & Credits

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Description: X Cut- 11A A= = =Wrap TextArialED CopyPasteConditional Format as4.BIU-田,.A-川A.三三言 園Merge & Center▼$ - % ,60 .00.00 .0Format PainterFormatting TableNumberStylesClipboardFontAlignmentC2fxName:Section:#:Problem 1-1 -- The Coffee Can Accounting System%3

The balance sheet is statement of financial position of the business.

Business

Accounting

Screen 1D $0 Assets $0 Start Over %3D Llabilities Owners' Equity I Put $200 Cash into the Note My Equity Dr Cash Cr Dr Payable Cr Beginning Balance Dr Cr Beginning Balance Beginning Balance Organization Current Balance Sister Puts $150 Cash into the Organization Curent Balance Current Balançe Sister's Equity Sister Takes $20 Cash out of the Organization Dr Beginning Balance Cr Current Balance ITake $15 Cash out of the Organization Balance Sheet Trial Balance Dad Loans $100 Cash to Organization on a Note Assets: Cash Account Name Cash Debit Credit Total Assets Note Payable My Equity Sister's Equity $25 Payment made to Dad on the Note Payable Liabilities: Note Payable Total Total Liabilities Owners' Equity: My Equity Sister's Equity Total Owners' Equity Total Liabilities & Equity Prepare the Trial Balance Prepare the Balance Sheet

Screen 1D $0 Assets $0 Start Over %3D Llabilities Owners' Equity I Put $200 Cash into the Note My Equity Dr Cash Cr Dr Payable Cr Beginning Balance Dr Cr Beginning Balance Beginning Balance Organization Current Balance Sister Puts $150 Cash into the Organization Curent Balance Current Balançe Sister's Equity Sister Takes $20 Cash out of the Organization Dr Beginning Balance Cr Current Balance ITake $15 Cash out of the Organization Balance Sheet Trial Balance Dad Loans $100 Cash to Organization on a Note Assets: Cash Account Name Cash Debit Credit Total Assets Note Payable My Equity Sister's Equity $25 Payment made to Dad on the Note Payable Liabilities: Note Payable Total Total Liabilities Owners' Equity: My Equity Sister's Equity Total Owners' Equity Total Liabilities & Equity Prepare the Trial Balance Prepare the Balance Sheet

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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