Scribd
Upload
30 views1 page

Analisis Biaya Semester Gasal 2016 - 2017 Tugas Individual I

1. TIM, Inc. was started on July 1, 2003 with an initial investment of $50,000 in cash by stockholders. 2. Various business transactions occurred through December 31, 2003, including purchasing computer equipment for $6,000, paying rent of $8,000, paying dividends of $500, paying employees $10,000 and utilities of $2,000, providing $30,000 of design services, and collecting $2,000 in cash for services. 3. The document requires preparing a balance sheet as of December 31, 2003, an income statement for the period ended December 31, 2003, and an analysis of cash flows and how they compare to profits for the

Uploaded by

Maulana Hasan
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
30 views1 page

Analisis Biaya Semester Gasal 2016 - 2017 Tugas Individual I

1. TIM, Inc. was started on July 1, 2003 with an initial investment of $50,000 in cash by stockholders. 2. Various business transactions occurred through December 31, 2003, including purchasing computer equipment for $6,000, paying rent of $8,000, paying dividends of $500, paying employees $10,000 and utilities of $2,000, providing $30,000 of design services, and collecting $2,000 in cash for services. 3. The document requires preparing a balance sheet as of December 31, 2003, an income statement for the period ended December 31, 2003, and an analysis of cash flows and how they compare to profits for the

Uploaded by

Maulana Hasan
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
You are on page 1/ 1

Analisis Biaya Semester Gasal 2016 2017

Tugas Individual I
Use of the Balance Sheet Equation (or Accounting Equation) to record transactions,
and preparation of financial statements
On July 1, 2003, TIM, Inc. started as a business entity. A summary of transactions
through Dec. 31, 2003 is presented below.
1. Stockholders invested $50,000 in cash in the business.
2. New computer equipment is purchased for $6,000 in cash. Equipment will be
used for 3 years.
3. Office rent for half a year is paid in advance, $8,000.
4. Dividends of $500 paid to existing shareholders.
5. Paid $10,000 to employees for services provided.
6. Paid utility bills, $2000.
7. Provided (and completed) design services on account to customers, $30,000.
8. Collected cash of $2,000 for services billed in 7).
Required:
a) Prepare a tabular analysis of the transactions by using the Balance Sheet
Equation (BSE) through December 31, 2003. Be sure to label your transactions.
b) Prepare the balance sheet as of December 31, 2003. From what part of the BSE
table did you get the information to prepare the balance sheet?
c) Prepare the income statement for the period from July 1, 2003 through
December 31, 2003. From what part of the BSE table did you get the information
to prepare the income statement?
d) How much cash flowed in and out of TIM, Inc. in the period from July 1, 2003
through December 31, 2003? How much of this cash inflow or outflow do you
consider relevant to TIM. Incs operations?
e) Compare the net cash flow that is considered relevant to operations (from d)
above) and TIM, Incs profits in the same period. What transactions and events
account for the difference?.

You might also like