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    Assessment 1

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    Joana Trinidad
    The document contains financial information for 27 different companies, including accounts receivable, accounts payable, revenues, expenses, purchases and sales figures. It appears to show income statement and balance sheet accounts for various periods to calculate profits, losses, and financial position of each company.

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    © All Rights Reserved
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    Assessment 1

    Uploaded by

    Joana Trinidad
    40 views11 pages
    The document contains financial information for 27 different companies, including accounts receivable, accounts payable, revenues, expenses, purchases and sales figures. It appears to show income statement and balance sheet accounts for various periods to calculate profits, losses, and financial position of each company.

    Copyright

    © © All Rights Reserved

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    XLSX, PDF, TXT or read online from Scribd

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    The document contains financial information for 27 different companies, including accounts receivable, accounts payable, revenues, expenses, purchases and sales figures. It appears to show income statement and balance sheet accounts for various periods to calculate profits, losses, and financial position of each company.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    40 views11 pages

    Assessment 1

    Uploaded by

    Joana Trinidad
    The document contains financial information for 27 different companies, including accounts receivable, accounts payable, revenues, expenses, purchases and sales figures. It appears to show income statement and balance sheet accounts for various periods to calculate profits, losses, and financial position of each company.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    of 11

    1 Infantry 32,400 32,400

    2 world 31,000 31,000


    3 hardy 350,000 350,000
    4 Dave 215,000 215,000
    5 Windburn 640,009 640,000
    6 lauren 5,100,000 5,100,000
    7 wander 6,125,000 6,125,000
    8 liquid 1,845,000 1,845,000 1,885,000 2,115,000
    9 tanker 60,000 60,000
    10 paulo 5,289,000 5,117,000 5,117,000 5,100,000
    11 premium S 2,119,000 2,105,000 2,105,000 2,055,000
    12 portugal 450,000 450,000
    13 Tarzana 2,850,000 2,850,000 4,100,000 4,450,000
    14 premium P 1,307,500 1,300,000 1,207,500 1,200,000
    15 Power 300,000 300,000
    16 groom 190,000 190,000
    17 starlight 140,000 140,000
    18 palace 38,400;20,400 38;400;20;400
    19 holiness 908,000 908,000
    20 percy P 1,585,000 1,335,000 1,365,000 1,335,000
    21 graphic 468,250 468,250 none 1,000,000
    22 diesel 615,000 615,000
    23 thomas 28,000 28,000 34,000 38,000
    24 kerosene 2,700,000 2,700,000 3,900,000 2,300,000
    25 Gasoline 2,700,000 2,700,000 2,000,000 2,400,000
    26 passion 950,000 950,000 650,000 250,000
    27 percy S 2,080,000 1,780,000 1,780,000 2,130,000
    2,062,000.00
    1 Hardy Boys Corporation 11 World Gallery Company

    Prepaid royalties, 2014 50,000.00


    Prepaid royalties, 2013 60,000.00
    - 10,000.00

    Royalties payable,2014 90,000.00


    Royalties payable,2013 75,000.00
    15,000.00

    Royalties Expense, Dec 31,2014 375,000.00 12 Premium (Gross Purchases)


    - 10,000.00
    - 15,000.00 Accounts payable
    Adjusted Royalties Expense 350,000.00 Cash paid to creditors
    Purchase discounts
    2 Diesel Company Purchase returns

    Unearned rental income , Jan 1, 2014 75,000.00


    Unearned rental income , Dec 31, 2014 50,000.00
    25,000.00
    13 Groom Company
    Accrued rental income, Jan 1, 2014 40,000.00
    Accrued rental income, Dec 31, 2014 30,000.00
    10,000.00

    Rental Income, Dec 31, 2014 600,000.00


    25,000.00
    - 10,000.00 14 Tarzana Company
    Adjusted Rental Income 615,000.00
    Accounts payable, Dec 31, 2014
    3 Portugal Corporation Accounts payable, Dec 31, 2013

    Monthly advances 15,000.00


    Net sales, Mar 31, 2014 15,000,000.00 Purchases, Dec 31,2104
    3% of net sales
    Commissions expense, Mar 31, 2014 400,000.00 Adjusted

    Commission expense (3% of net sales) 450,000.00 15 Tanker

    4 Thomas Company

    Receivables, Jun 30,2014 55,000.00


    Collections 673,000.00
    writeoff 4,000.00
    28,000.00 16 Power Designs Corporation
    760,000.00
    - 80,000.00
    Credit sales 680,000.00
    5 Dave

    Accounts receivable, Dec 31, 2014 60,000.00


    Accounts receivable, Dec 31, 2013 40,000.00
    20,000.00 17 Liquid Company
    Liquid Company
    Collected fees, 2014 200,000.00
    Unearned fees - 5,000.00 Accounts Receivable, Dec 31,2014
    20,000.00 Accounts Receivable, Dec 31,2013
    Service Revenue, 2014 215,000.00

    6 Passion Corporation Allowance for Bad Debts, Dec 31, 20


    Allowance for Bad Debts, Dec 31, 20
    Accounts Receivable, Dec 31,2014 400,000.00
    Accounts Receivable, Dec 31,2013 200,000.00
    200,000.00 Revenue, Dec 31, 2014

    Accounts payable, Dec 31, 2014 150,000.00


    Accounts payable, Dec 31, 2013 300,000.00
    - 150,000.00
    18 Palace
    Revenue, Dec 31, 2014 600,000.00
    200,000.00
    150,000.00
    Adjusted 950,000.00

    7 Lauren Company

    Equipment 6,800,000.00
    Sale of plant 490,000.00
    19 Percy Company (Gross Purchases)

    Cash payment to trade creditors


    net of increase

    on account
    Cash purchases

    9 Premium (Gross Sales) write off


    Notes receivable
    Cash received from customers 2,100,000.00 Accounts receivable
    Cash received from customers
    10 Gasoline Company Sales discounts
    Sales returns
    Gasoline Company

    Accounts Receivable, Dec 31,2014 1,100,000.00


    Accounts Receivable, Dec 31,2013 700,000.00
    400,000.00

    Revenue, Dec 31, 2014 3,100,000.00


    400,000.00
    Adjusted 3,500,000.00

    2,700,000.00
    lery Company 21 Percy Company (Gross Sales)

    Cash Sales
    Cash received rom account customers
    Sales discount

    22 Kerosene Company

    Accounts payable, Dec 31, 2014


    Gross Purchases) 1,200,000.00 Accounts payable, Jan 1, 2013

    100,000.00
    to creditors 1,400,000.00 Purchases, Dec 31,2104
    2,500.00
    5,000.00 Adjusted
    1,507,500.00
    - 200,000.00 23 Graphic Publishers
    1,307,500.00
    None

    payable, Dec 31, 2014 1,250,000.00 24 Paulo


    payable, Dec 31, 2013 900,000.00
    350,000.00 Cash Sales
    Cash received from credit customer
    , Dec 31,2104 3,200,000.00 Accounts receivable
    - 350,000.00 Adj accounts receivable
    2,850,000.00 Write off
    Refunds
    Discounts
    Expenses paid in cash

    25 Starlight Company

    signs Corporation

    4,981,000.00
    - 94,000.00
    4,887,000.00

    26 Holiness Company

    Receivable, Dec 31,2014 415,000.00


    Receivable, Dec 31,2013 550,000.00
    - 135,000.00

    for Bad Debts, Dec 31, 2014 25,000.00


    for Bad Debts, Dec 31, 2013 40,000.00
    - 15,000.00

    Dec 31, 2014 1,980,000.00


    - 135,000.00
    15,000.00 27 Windburn
    1,860,000.00

    mpany (Gross Purchases)

    ment to trade creditors 1,200,000.00 Cash received 1,500,000.00


    350,000.00 writeoff 60,000.00
    1,550,000.00 AR 370,000.00
    50,000.00 NR - 200,000.00
    35,000.00 50,000.00
    1,635,000.00 1,780,000.00
    250,000.00 300,000.00
    1,885,000.00 2,080,000.00
    - 50,000.00
    - 35,000.00 cash pay 1,200,000.00
    1,800,000.00 ap - 150,000.00
    np 200,000.00
    np 300,000.00
    paulo
    5,000.00 72,000.00 1,550,000.00
    100,000.00 250,000.00
    100,000.00 386,000.00 1,800,000.00
    ved from customers 2,100,000.00 3,929,000.00
    4,000.00 94,000.00 discounts
    10,000.00 21,000.00
    2,319,000.00 4,502,000.00
    - 150,000.00 - 291,000.00
    - 50,000.00 4,211,000.00
    2,119,000.00 1,120,000.00
    5,331,000.00
    300,000.00
    1,500,000.00
    - 20,000.00

    1,780,000.00

    800,000.00
    600,000.00
    200,000.00

    2,500,000.00
    200,000.00
    2,700,000.00

    5,100,000.00

    1,120,000.00
    3,793,000.00
    386,000.00 5,299,000.00

    - 72,000.00 5,227,000.00
    - 21,000.00 5,206,000.00
    - 94,000.00 5,112,000.00
    - 68,000.00
    5,044,000.00
    Cash A/R PD PR
    1,400,000.00 100,000.00 - 2,500.00 5,000.00
    - 200,000.00 - 5,000.00
    - 5,000.00
    2,500.00
    5,000.00
    1,202,500.00
    5,000.00
    1,207,500.00
    - 100,000.00

    200,000.00

    Premium Sales
    NR Dec 100,000.00
    AR Dec 100,000.00
    Writeoff 5,000.00
    SR 10,000.00
    Cash received customer 2,100,000.00
    SD 4,000.00
    2,319,000.00 2,119,000.00
    AR jan - 150,000.00 - 10,000.00
    NR jan - 50,000.00 - 4,000.00
    2,119,000.00 2,105,000.00

    Premium purchases
    AP Dec 100,000.00
    PD 2,500.00
    PR 5,000.00
    Cash paid 1,400,000.00 1,307,500.00
    1,507,500.00 - 2,500.00
    AP jna - 200,000.00 - 5,000.00
    1,307,500.00 1,300,000.00

    Percy S AR 370,000.00
    NR - 200,000.00
    writeoff 42,000.00
    Cash received 1,385,000.00
    SD 20,000.00 1,947,000.00
    SR 30,000.00 - 80,000.00
    1,647,000.00 - 20,000.00
    300,000.00 1,847,000.00
    1,947,000.00

    Percy P AP 150,000.00
    NP t 200,000.00
    NP B - 300,000.00
    writeoff
    Cash payment 1,200,000.00 1,585,000.00
    PR 50,000.00 - 80,000.00
    PD 35,000.00 - 35,000.00
    1,335,000.00 1,470,000.00
    250,000.00
    1,585,000.00

    CS 1,120,000.00 1,120,000.00
    CR 3,861,000.00 94,000.00
    Beg 386,000.00 386,000.00
    72,000.00 3,772,000.00
    94,000.00 72,000.00
    - 291,000.00 - 291,000.00
    5,242,000.00 5,153,000.00

    1,800,000.00 1,450,000.00
    - 80,000.00 - 80,000.00
    - 20,000.00 - 35,000.00
    1,700,000.00 1,335,000.00

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