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    Charles Company: Assets

    Uploaded by

    Sourav Mookerjee
    The document shows the assets, liabilities, and owner's equity for Kim Fuller. Current assets include $10,000 cash and $90,000 investment with a $50,000 down payment. Non-current assets are $65,000 in machinery/equipment and $162,000 warehouse. Liabilities include $90,000 in debt and $112,000 balance for the warehouse, with $75,000 in owner's equity.

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    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd

    Charles Company: Assets

    Uploaded by

    Sourav Mookerjee
    66 views18 pages
    The document shows the assets, liabilities, and owner's equity for Kim Fuller. Current assets include $10,000 cash and $90,000 investment with a $50,000 down payment. Non-current assets are $65,000 in machinery/equipment and $162,000 warehouse. Liabilities include $90,000 in debt and $112,000 balance for the warehouse, with $75,000 in owner's equity.

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    1.1.xlsx

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    The document shows the assets, liabilities, and owner's equity for Kim Fuller. Current assets include $10,000 cash and $90,000 investment with a $50,000 down payment. Non-current assets are $65,000 in machinery/equipment and $162,000 warehouse. Liabilities include $90,000 in debt and $112,000 balance for the warehouse, with $75,000 in owner's equity.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    66 views18 pages

    Charles Company: Assets

    Uploaded by

    Sourav Mookerjee
    The document shows the assets, liabilities, and owner's equity for Kim Fuller. Current assets include $10,000 cash and $90,000 investment with a $50,000 down payment. Non-current assets are $65,000 in machinery/equipment and $162,000 warehouse. Liabilities include $90,000 in debt and $112,000 balance for the warehouse, with $75,000 in owner's equity.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    of 18

    Charles company

    Assets

    Current Assets

    Cash- $12,000

    Total CA:- 12000

    Non Current Assets

    Inventory- $ 95,000

    Other items- $ 13,000

    Total NCA- 108000

    Total Assets :- $ 120000


    arles company
    Liability & Owner's Equity

    Current Liablity

    Long term liability

    Loan:- $ 40,000

    Owner's equity

    $12,000

    $68,000

    Total L & OE - $ 120000


    Mi

    Current Assets

    Non Current Assets

    Total Assets

    Current Liability

    Non Current Liability

    Paid in capital

    Retained earning

    Total Liability and Owner's equity

    The basic accounting equation applied h


    Microtech Company
    Year 1 Year 2

    113624 90442

    410976 198014

    524600 288456

    56142 40220

    240518 71297

    214155 173295

    13785 3644

    524600 288456

    basic accounting equation applied here is ( Total Assets = Total Liablity + Owner's Equity)
    ny
    Year 3 Year 4

    85124 69090

    162011 151021

    247135 220111

    15583 17539

    60100 30222

    170000 170000

    1452 2350

    247135 220111

    al Liablity + Owner's Equity)


    Astrotech Company
    Year 1 Year 2
    Sales 12011 11968
    cost of goods sold 3011 2992
    Gross Margin 9000 8976
    Other expense 6201 6429
    Profit before taxes 2799 2547
    Tax expense 1120 1019
    Net Income 1679 1528
    ompany
    Year 3 Year 4
    11545 10000
    2886 2500
    8659 7500
    6296 5600
    2363 1900
    945 800
    1418 1100
    Sl. No. Cash Accounts receivable

    1 20000

    2 -5000

    3 -1000
    4 -4500
    5 +5000 +5000
    6 -1500
    7 +1000 -1000
    8 -750
    9 -500
    10
    11

    Income Statement
    Revenue
    Cost of sales(salaries)
    Gross margin
    Other expense
    Profit before tax
    Tax
    Net Income
    Acme consulting
    Total
    Supplies Inventories Equipment
    Assets
    20000

    7000 2000

    +1000 -1000
    -4500
    0
    -1500
    0
    0
    -500
    0
    -200 -200

    ncome Statement
    10000
    4500
    5500
    1650
    3850
    0
    3800
    e consulting
    Total
    Account payable Owners equity
    Liablity
    20000

    +2000

    -4500
    +10000
    -1500

    -750
    -500
    +200 -200
    -200
    Description

    Investement

    Purchased equipement worth 7000. Paid


    5000 cash and 2000 on credit

    Supplied inventory worth 1000.paid cash


    Salaries
    Revenue
    Loan repaid 1500.
    Revenue received
    Rent
    Utilities
    Travel
    Bon Voyag
    Assets

    Current Assets
    Cash -14350

    Non current Assets


    equipment- 8000
    commission- 8000

    Total Assets - 30350


    Bon Voyage Travel
    Liability & Owner's Equity Cash Flow
    Cash Inflow
    Current Liability Capital- 25000
    commission -2000
    Charges on credit card - 1000
    Total Cash inflow -28000

    Long Term Liablity


    equipment- 3000 Cash Outflow
    rent paid- 5000
    office supplies- 500
    Advertising- 750
    owner's equity salary - 3000
    Credit card - 1000 equipment -5000
    Amount:- 25000 office supplies- 100
    Total Liability - 29000
    Total Cash outflow -14350
    Income statement Sl. No. Cash

    Revenue 1 25000
    Commission-10000 2 -500
    3
    4 -500
    5 -750
    6 -3000
    7 2000
    8 -5000
    Expenses 9 -100
    Rent- 500 10 1000
    Equipment- 3000 Total 18150
    Office supplies- 500
    Advertising- 750
    Salary - 3000
    Office supplies- 100
    Bon Voyage Travel
    Accounts Supplies Accounts Owner's
    Equipment Total
    receivable Inventories Payable equity
    25000
    -500
    3000 3000
    -500
    -750
    -3000
    8000 10000
    -5000
    -100
    1000
    8000 3000 29150 3000 26150
    Total Description

    Investement
    rent
    Equipment
    office supplies
    Advertising
    salary
    commission
    equipment payment
    office supplies
    on credit card
    29150
    Kim Fuller case

    Assets

    Current Assets
    Cash- 10000
    Investment - 90000
    Down Payment - (-50000)
    Total CA- 50000

    Non Current Assets


    Machinary & Equipment - 65000
    Warehouse- 162000
    Total NCA- 2270000

    Total Assets :- 277000


    er case

    Liability & Owner's Equity

    Current Liablity

    Long term liability


    Debt- 90000
    balance for warehouse- 112000
    Total LTL- 202000

    Owner's equity
    amount- 75000

    Total L & OE - 277000

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