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Tugas Nata

The document summarizes the transactions of two companies, Park Flying School and Stiner Deliveries Ltd., for the months of May and June 2017 respectively. It provides income statements, statements of retained earnings, and statements of financial position for each company at the end of the month. Key details include Park Flying School starting with £45,000 cash and earning a net profit of £2,000 in May. Stiner Deliveries Ltd was started on June 1 with £10,000 investment, earned revenue of £6,300 and a net profit of £4,450 in June.

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38 views5 pages

Tugas Nata

The document summarizes the transactions of two companies, Park Flying School and Stiner Deliveries Ltd., for the months of May and June 2017 respectively. It provides income statements, statements of retained earnings, and statements of financial position for each company at the end of the month. Key details include Park Flying School starting with £45,000 cash and earning a net profit of £2,000 in May. Stiner Deliveries Ltd was started on June 1 with £10,000 investment, earned revenue of £6,300 and a net profit of £4,450 in June.

Uploaded by

natasya gsl
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd
You are on page 1/ 5

2.

P1-3A
1 May 2017, Park Flying School Ltd., h company providing flying lessons, started with a cash
Investment of W45,000 in business revenue and expenses for May
Cash W45,000 Notes Payable W28,000
Accounts Receivable 7,420 Rent Expense 1,000
Equipment 64,000 Maintenance and Service Revenue 6,800
Repair Expense 400 Advertising Expense 500
Gasoline Expense 2,500 Accounts Payable 1,400
Utility Expense 400 dividends of W 480,000 for a month.
Instructions
a) Prepare a statement of income and retained earnings and finansial position as of May 31.

PARK FLYING SCHOOL


INCOME STATEMENT
30-May-17
APPROACHES 6800
LOAD REPAIR 400
GASOLINE LOAD 2500
UTILITY EXPENSES 400
RENTAL EXPENSES 1000
ADVERTISING EXPENSES 500
TOTAL LOAD 4800
NET PROFIT 2000
PARK FLYING SCHOOL
STATEMENT OF INCOME HOLD
30-May-17
PROFIT HELPED DAY MAY 1
NET PROFIT 2000

DIVIDEND 480
PROFIT HELPED M,AY 30 1520

PARK FLYING SCHOOL


BALANCE
30-May-17
ASSETS PASIVA
CURRENT ASET ACCOUNT PAYABLE 1400
CASH 4500 DEBT NOTES 28000
RECEIVABLES 7420 TOTAL AMOUN OF DEBT 29400
EQIPMENT 64000 CAPITAL 45000
FIXED ASSETS PROFIT HANDLESD 1520
EQUIPMENT 0 TOTAL CAPITAL 46520
TOTAL ASSETS 75920 TOTAL DEBT & CAPITAL 75920

b) Prepare a statement of income and retained earnings for the month of May with assumptions
the following data is not included in the above: (1) W services worth 900,000 have been
perfomed and were invoiced but not collected on May 31, and (2) W1,500,000 petrol costs
happens but is not paid for.
PARK FLYING SCHOOL
INCOME STATEMENT
30-May-17
REVENUE (6800 + 900) 7700
LOAD REPAIR 400
GASOLINE LOAD (2500 + 1500) 4000
UTILITY EXPENSES 400
RENTAL EXPENSES 1000
ADVERTISING EXPENSES 500
TOTAL LOAD 6300
NET PROFIT 1400

PARK FLYING SCHOOL


STATEMENT OF INCOME HOLD
30-May-17
PROFIT HELPED MAY 1
NET PROFIT 1400

DIVIDEND 480
PROFIT HELPED MAY 30 920

3. P1-41
Matt Stiner began delivery service, Stiner Deliveries Ltd., on june 1, 2017. The following transactions
occurred during the month of june.

June 1 Shareholders invest £ 10,000 cash in the business in exchange for common stock.

2 Purchased a used van delivery for £ 14,000. Matt paid £ 2,000 cash and signed a note payable
For the remaining balanced.

3 Paid £ 500 for office rent that month.

5 Performerd £ 4,800 worth of services on account.

9 Declare and pay £ 300 as cash dividend.

12 Purchased equipment for £ 150 on account.

15 Received cash payment of £ 1,250 for services on 5 June.


17 Purchased petrol for £ 100 on account.

20 Received cash payment of £ 1,500 for services performed.

23 Made cash payment of £ 500 on note payable.

26 Paid £ 250 for utilities.

29 Paid gasoline purchased on account on Juni 17.

30 Paid £ 1,000 in employee salaries.

Instructions

a) Show the effect of previous transactions on the accounting using equation

the following format

KAS Piutan Perlengkapan Peralatan Utang Utang Modal Pendapata Beba Deviden
g Dagan Wesel Awal n n
Dagang g
10000 10000
-2000 14000 12000
8000 14000 12000 10000
-500 -500
7500 14000 12000 10000 -500
4800 4800
7500 4800 14000 12000 10000 4800 -500
-300 -300
7200 4800 14000 12000 10000 4800 -500 -300
150 150
7200 4800 150 14000 150 12000 10000 4800 -500 -300
1250 -1250
8450 3550 150 14000 150 12000 10000 4800 -500 -300
100 -100
8450 3550 150 14000 250 12000 10000 4800 -600 -300
1500 1500
9950 3550 150 14000 250 12000 10000 6300 -600 -300
-500 -500
9450 3550 150 14000 250 11500 10000 6300 -600 -300
-250 -250
9200 3550 150 14000 250 11500 10000 6300 -850 -300
-100 -100
9100 3550 150 14000 150 11500 10000 6300 -850 -300
-1000 -1000
8100 3550 150 14000 150 11500 10000 6300 -1850 -300

Include a margin description for any changes in the Withheld Income account your analysis
b) Prepare an income statement for the month of June.
STINER DELIVERIES LTD
INCOME STATEMENT
JUNI 2017
APPROACHES 6300
GASOLINE LOAD 100
UTILITY EXPENSES 250
RENTAL EXPENSES 500
SALARY EXPENSES 1000
TOTAL LOAD 1850
NET PROFIT 4450
DIVIDEND 300
RETAINED EARNING 4150

c) Prepare a statement of finansial position as of June 30, 17

STINER DELIVERIES LTD


BALANCE
JUNI 2017
ASSETS PASIVA
CURRENT ASSET ACCOUNT PAYABLE 150
CASH 8100 DEBT NOTES 11500
RECEIVABLES 3550 TOTAL AMOUNT OF DEBT 11650
EQUIPMENT 14000 CAPITAL 10000
FIXED ASSETS PROFIT HANDLED 14150
TOTAL ASSETS 25 800 TOTAL DEBT & CAPITAL 25 800

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