Week 8 Accounting

"Use this page to type out problems that do not require the use of the other worksheets "The other worksheets contained in the workbook include useful templates for each week 's assignment "21-1CHART OF INDIRECT METHOD "ADD TO NET INCOME "SUBTRACT "Receivables "Decrease "Increase "inventories "decrease "Increase "Accounts payable "increase "Decrease "accrued liabilities "increase "decrease "interest payable "increase "decrease "21-2 net cash flow using indirect method "net income "17000 "add : Depreciation "4000 "21000 "increase in accounts receivable (7900-5900 "2000 "decrease in prepaid insurance (850-900 "50 "increase in accounts payable (4600-4000 "-600 "increase salaries payable "-1000 "450 "cash flow from operations

"21450 "21-3 net cash flw using direct method "sales "9000 "increase in accounts receivable "-600 "8400 "cost of goods solds "-4400 "increase in accounts payable "100 "increase in inventory "-500 "-4800 "salary expense "-1600 "salary payable decrease "-200 "insurance expense "-800 "decrease in prepaid insurance "150 "other expenses "-1000 "-3450 "cash flow from operations "150 "22-1 Comparative income statement "20x9 "20x8 "increase (decrease "change "net sales "70000 "40000 "30000 "0 .75 "cost of sales "30000 "20000 "10000 "0 .5 "gross profit "40000 "20000 "20000 "1 "operating expenses "-17000 "-12000 "5000 "0 .5781 "interest expense "-5000 "-4000 "1000 "0 .25 "net profit "18000 "4000 "14000 "3 .5 "22-2 common size income statement "20x9 "20x8 "20x9 "20x8 "Net sales "500000 "400000 "1 "1 "cost of sales "400000 "355000 "0 .1563 "88 .5 "gross profit "100000 "45000 "0 .7891 "0 .111 "operating expenses "60000 "30000 "0 .3945 "0 .39453 "net income "40000 "15000 "0 .39453 "0 .026 "22-3- commonsize balance sheet "20x9 "20x8 "20x9 "20x8 "current assets "90000 "50000 "0 .167 "0 .161 "Plant and equipment "450000 "310000 "0 .833 "0 .839 "Total assets "540000 "360000 "1 "1 "Current liabilities "10000 "30000 "0 .0185 "0 .0833 "long term liabilities "30000 "100000 "0 .0555 "0 .2777 "common stock "300000 "200000 "0 .5555 "0 .5555 "retained earnings "200000 "30000 "0 .3703 "0 .0833 "total "540000 "360000 "0 .9998 "0 .9998 "Name "General Journal "GENERAL JOURNAL " Date " Account Titles and Explanation "P . R "Debit "Credit "Name "Part 1 "Name "General Ledger "GENERAL LEDGER " Accounts Receivable "Cash "ACCOUNT NO . ____ " Date " Explanation "P .R "DEBIT "CREDIT "BALANCE " Office Supplies "Accounts Receivable "ACCOUNT NO . ____ " Date " Explanation "P .R "DEBIT "CREDIT "BALANCE " Prepaid Insurance "Inventory "ACCOUNT NO . ____ " Date " Explanation "P .R "DEBIT "CREDIT "BALANCE "Computer Equipment "Long-Term Notes Payable "ACCOUNT NO . ____ " Date " Explanation "P .R "DEBIT "CREDIT "BALANCE "Sales "ACCOUNT NO . ____ " Date " Explanation "P .R "DEBIT "CREDIT "BALANCE " Buildings "Sales Discounts "ACCOUNT NO . ____ " Date " Explanation "P .R "DEBIT "CREDIT "BALANCE "XX Services "Trial Balance "January 31 , 200x "Cash "Accounts Receivable "Prepaid Rent "Accounts Payable "Unearned Service Revenue "Ann Duncan , Capital "Ann Duncan , Withdrawals "Service Revenue "Wages Expense "Fuel Expense "0 "0 "Name ______________________________________ "Depreciation "Beginning-Year "Depreciation "Annual "Year-End "Period "Book Value "Rate per Period "Depreciation "Book Value "XX Company "Worksheet "6 /30 /200x "Account Name "Trial Balance "Adjustments "Adjusted Trial Balance "Cash "0 "0 "Accounts Receivable "0 "0 "Supplies "0 "0 "0 "Prepaid Insurance...