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Examples of Accounting Transactions and Financial Statements

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Added on  2019-09-18

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This article provides examples of accounting transactions and financial statements, including balance sheets, income statements, and cash flow statements. It also explains how to analyze financial data and calculate important metrics such as net income and total revenue.
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Assignment 8(Part A)DATEPARTICULARSDEBITAMOUNT($)CREDIT AMOUNT($)October 2Cash - Capital 50005000October 8Supplies - Accounts Payable100100October 10Salaries- Cash 700700October15Accounts Payable- Cash100100October 21Telephone Expenses-Outstanding Telephone Expenses 3030TOTAL59305930(Part B)DATEPARTICULARSP.RDEBITCREDIT
Examples of Accounting Transactions and Financial Statements_1
AMOUNT($)AMOUNT($)(a)Accounts Receivable-Sales (Being fees earned but not yet received)70007000(b)Equipment -Cash-Creditor for Equipment(Being equipment purchased partially incash and credit)450002000025000(c)Rent expense-Cash(Being rent paid for the month of January) 30003000(d)Supplies-Accounts Payable(Being supplies purchased on account)25002500(e)Cash -A. Allen’s Capital(Being investment made in the company)10001000(f)Cash-Accounts Receivable(Being cash received for fees earned previously)70007000(g)Accounts Payable-Cash12001200
Examples of Accounting Transactions and Financial Statements_2

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