TUGAS PENGANTAR AKUNTANSI I

E1.18 (LO 5) The statement of cash flows classifies each transaction as an operating activity, an investing activity, or a financing activity. Operating activities are the types of activities the company performs to generate profits. Investing
activities include the purchase of long-lived assets such as equipment or the purchase of investment securities. Financing activities are borrowing money, investments by shareholders, and dividends paid. Presented below are the
following transactions.
1. Shareholders invested €20,000 cash in exchange for ordinary shares.
2. Issued note payable for €12,000 cash.
3. Purchased offi ce equipment for €11,000 cash.
4. Received €15,000 cash for services performed.
5. Paid €1,000 cash for rent.
6. Paid €600 dividend.
7. Paid €5,700 cash for salaries.

Instructions
Classify each of these transactions as operating, investing, or financing activities.

Answer Based on the descriptions provided, here's the classification of each transaction:

1. Shareholders invested €20,000 cash in exchange for ordinary shares. - Financing activity
2. Issued note payable for €12,000 cash. - Financing activity
3. Purchased office equipment for €11,000 cash. - Investing activity
4. Received €15,000 cash for services performed. - Operating activity
5. Paid €1,000 cash for rent. - Operating activity
6. Paid €600 dividend. - Financing activity
7. Paid €5,700 cash for salaries. - Operating activity

Assets = Liabilities + Equity

Transac Notes Share Retained Earnings
tion Cash + Equipment = Payable + Capital + Rev. - Exp. - Div.
1 + € 20,000 + € 20,000 Issued Shares
2 + € 12,000 + € 12,000
3 - € 11,000 + € 11,000
4 + € 15,000 + € 15,000 Service Revenue
5 - € 1,000 - € 1,000 Rent Expense
6 - € 600 - € 600 Dividends
7 - € 5,700 - € 5,700 Sal./Wages Exp.
€ 16,700 + € 23,000 = € 12,000 + € 20,000 + € 15,000 - € 6,700 - € 600

€ 39,700 € 39,700
 TUGAS PENGANTAR AKUNTANSI I

P1.1 (LO 3, 4) On April 1, Julie Chen established Miaoli’s Travel Agency. The following transactions were completed during the month.
Analyze transactions and compute net income.
1. Shareholders invested NT$15,000 cash in the business in exchange for ordinary shares.
2. Paid NT$600 cash for April office rent.
3. Purchased equipment for NT$3,000 cash.
4. Incurred NT$700 of advertising costs for Facebook ads, on account.
5. Paid NT$900 cash for offi ce supplies.
6. Performed services worth NT$10,000: NT$3,000 cash is received from customers, and the balance of NT$7,000 is billed to customers on account.
7. Declared and paid NT$600 dividend.
8. Paid Facebook NT$500 of the amount due in transaction (4).
9. Paid employees’ salaries NT$2,500.
10. Received NT$4,000 in cash from customers who have previously been billed in transaction (6).

Answer Assets = Liabilities + Equity

Transacti Account Notes Share Retained Earnings
on Cash + Receivable + Supplies + Equipment = Payable + Account Payable + Capital + Rev. - Exp. - Div.
1 + $ 15,000 + $ 15,000 Issued Shares
2 - $ 600 + $ 600 Rent Expense
3 - $ 3,000 + $ 3,000
4 + $ 700 + $ 700 Advertising Expense
5 - $ 900 + $ 900
6 + $ 3,000 + $ 7,000 + $ 10,000 Service Revenue
7 - $ 600 + $ 600 Dividends
8 - $ 500 - $ 500 Advertising Expense
9 - $ 2,500 + $ 2,500 Sal./Wages Exp.
10 + $ 4,000 - $ 4,000
$ 13,900 + $ 3,000 + $ 900 + $ 3,000 = $ - + $ 200 + $ 15,000 + $ 10,000 - $ 3,800.00 - $ 600

$20,800 $20,800

Maoli's Travel Ageny

Income Statement
For the Month Ended April 30
($ in thousands)

Revenue
Service Revenue $ 10,000.00
Expenses
Rent expense $ 600.00
Salaries and wages expense $ 2,500.00
Advertising expense $ 700.00
Total expenses $ 3,800.00
Net Income $ 6,200.00
 TUGAS PENGANTAR AKUNTANSI I

P1.2 (LO 4, 5) Ai Fang Co. opened on July 1, 2020. On July 31, the statement of fi nancial position showed Cash ¥5,000, Accounts Receivable ¥1,500, Supplies ¥500, Equipment ¥6,000, Accounts Payable ¥4,200, Share Capital—
Ordinary ¥4,000, and Retained Earning of ¥4,800 (amounts in thousands).
During August, the following transactions occurred.
1. Collected ¥1,200 of accounts receivable.
2. Paid ¥2,800 cash on accounts payable.
3. Recognized revenue of ¥7,500 of which ¥4,000 is collected in cash and the balance is due in September.
4. Purchased additional equipment for ¥2,000, paying ¥400 in cash and the balance on account.
5. Paid salaries ¥2,800, rent for August ¥900, and advertising expenses ¥400.
6. Declared and paid ¥700 dividend.
7. Received ¥2,000 from Standard Bank—money borrowed on a note payable.
8. Incurred utility expenses for month on account ¥270.

Instructions
a. Prepare a tabular analysis of the August transactions beginning with July 31 balances. The column headings should be as follows: Cash + Accounts Receivable + Supplies + Equipment = Notes Payable + Accounts
Payable + Share Capital—Ordinary + Revenues – Expenses – Dividends.
b. Prepare an income statement for August, a retained earnings statement for August, and a statement of financial position at August 31.

Answer Assets = Liabilities + Equity

Transacti Account Notes Share Capital- Retained Earnings
on Cash + Receivable + Supplies + Equipment = Payable + Account Payable + Ordinary + Rev. - Exp. - Div.
1 + ¥ 5,000 + ¥ 1,500 + ¥ 500 + ¥ 6,000 + ¥ 4,200 + ¥ 4,000 + ¥ 4,800 Issued Shares
2 + ¥ 1,200 - ¥ 1,200
3 - ¥ 2,800 - ¥ 2,800
4 + ¥ 4,000 + ¥ 3,500 + ¥ 7,500 Service Revenue
5 - ¥ 400 + ¥ 2,000 + ¥ 1,600
6 - ¥ 4,100 + ¥ 2,800 Sal./Wages Exp.
+ ¥ 900 Rent Expense
+ ¥ 400 Advertising Expense
7 - ¥ 700 + ¥ 700 Dividends
8 + ¥ 2,000 + ¥ 2,000
9 + ¥ 270 + ¥ 270 Utilities Expense
¥ 4,200 + ¥ 3,800 + ¥ 500 + ¥ 8,000 = ¥ 2,000 + ¥ 3,270 + ¥ 4,000 + ¥ 12,300 - ¥ 4,370 - ¥ 700

$16,500 $16,500

Ai Fang Co
Income Statement
For the Month Ended August 31, 2020
(¥ in thousands)

Revenue
Service Revenue ¥ 12,300
Expenses
Rent expense ¥ 900
Salaries and wages expense 2,800
Utilities expense 270
Advertising expense 400
Total expenses 4,370
Net Income ¥ 7,930

Ai Fang Co
Retained Earning Statement
For the Month Ended August 31, 2020
(¥ in thousands)

Retained earning, August 1 ¥ 4,800

Add : Net income 7,930
12,730
Less : Dividends 700
Retained earning, August 31 ¥ 12,030

Ai Fang Co
Statement of Financial Position
For the Month Ended August 31, 2020
(¥ in thousands)

Assets
Equipment ¥ 8,000
Supplies ¥ 500
Account receivable 3,800
Cash 4,200
Total Assets ¥ 16,500

Equity and Liabilities

Equity
Share Capital - Ordinary ¥ 4,000
Retained Earnings 7,230 ¥ 11,230
Liabilities
Notes Payable ¥ 2,000
Account Payable 3,270 5,270
Total Equity and Liabilities ¥ 16,500
 TUGAS PENGANTAR AKUNTANSI I

P1.4 (LO 4, 5) Matt Stiner started a delivery service, Stiner Deliveries Ltd., on June 1, 2020. The following transactions occurred during the month of June.
June
1 Shareholders invested £10,000 cash in the business in exchange for ordinary shares.
2 Purchased a used van for deliveries for £14,000. Matt paid £2,000 cash and signed a note payable for the remaining balance.
3 Paid £500 for office rent for the month.
5 Performed services worth £4,800 on account.
9 Declared and paid £300 in cash dividends.
12 Purchased supplies for £150 on account.
15 Received a cash payment of £1,250 for services performed on June 5.
17 Purchased gasoline for £100 on account.
20 Received a cash payment of £1,500 for services performed.
23 Made a cash payment of £500 on the note payable.
26 Paid £250 for utilities.
29 Paid for the gasoline purchased on account on June 17.
30 Paid £1,000 for employee salaries.

Answer Assets = Liabilities + Equity

Account Notes Share Retained Earnings
Dates Cash + Receivable + Supplies + Equipment = Payable + Account Payable + Capital + Rev. - Exp. - Div.
1 + £ 10,000 + £ 10,000 Issued Shared
2 - £ 2,000 + £ 14,000 + £ 12,000
3 - £ 500 - £ 500 Rent Expense
5 + £ 4,800 + £ 4,800 Service Revenue
9 - £ 300 - £ 300 Dividends
12 + £ 150 + £ 150
15 + £ 1,250 - £ 1,250 Service Revenue
17 + £ 100 - £ 100 Delivery Expense
20 + £ 1,500 + £ 1,500 Service Revenue
23 - £ 500 - £ 500
26 - £ 250 - £ 250 Utilities Expense
29 - £ 100 - £ 100
30 - £ 1,000 - £ 1,000 Sal./Wages Exp.
£ 8,100 + £ 3,550 + £ 150 + £ 14,000 = £ 11,500 + £ 150 + £ 10,000 + £ 6,300 - £ 1,850 - £ 300

$25,800 $25,800

Stiner Deliveries Ltd.

Income Statement
For the Month Ended June 30, 2020
(£ in thousands)

Revenue
Service Revenue £ 6,300
Expenses
Rent expense £ 500
Salaries and wages expense 1,000
Delivery expense 100
Utilities expense 250
Total expenses 1,850
Net Income £ 4,450

Stiner Deliveries Ltd.

Statement of Financial Position
For the Month Ended June 30, 2020
(£ in thousands)

Assets
Equipment £ 14,000
Supplies 150
Account receivable 3,550
Cash 8,100
Total Assets £ 25,800

Equity and Liabilities

Equity
Share Capital - Ordinary £ 10,000
Retained Earnings 4,150 £ 14,150
Liabilities
Notes Payable £ 11,500
Account Payable 150 11,650
Total Equity and Liabilities £ 25,800