Exercise 01 Use of Formatting:
# Date Transaction Type Category Amount
1 30-Nov-22 Paycheck Salary $ 5,500.00
2 30-Nov-22 Profit from Food Business Profit/Loss $ 1,600.00
3 01-Dec-22 Health Insurance Insurances $ (250.00)
4 02-Dec-22 Fed Tax Taxes $ (450.00)
5 03-Dec-22 State Tax Taxes $ (300.00)
6 03-Dec-22 Car Insurance Insurances $ (200.00)
7 04-Dec-22 Rent Rent $ (1,700.00)
8 04-Dec-22 Loss from Travel Business Profit/Loss $ (240.00)
9 05-Dec-22 Student Loan Loans $ (200.00)
10 06-Dec-22 Car Loan Loans $ (350.00)
11 06-Dec-22 Groceries Food $ (700.00)
12 07-Dec-22 Games Entertainment $ (320.00)
13 08-Dec-22 Phone Bill Utilities $ (200.00)
14 09-Dec-22 Current Bill Utilities $ (300.00)
15 10-Dec-22 Gym Memberships $ (150.00)
16 10-Dec-22 Spa Personal $ (340.00)
17 10-Dec-22 Netflix Memberships $ (50.00)
18 11-Dec-22 Movies Entertainment $ (300.00)
19 12-Dec-22 Restaurants Dining Out $ (600.00)
20 12-Dec-22 Profit from Tool Business Profit/Loss $ 1,200.00
21 13-Dec-22 Spotify Entertainment $ (25.00)
Balance $ 2,100.00
Exercise 02 Transaction Analysis:
# Assets Account Liabilities Account Owner's Equity Account
1 $ 13,000 Equity $ 13,000 Cash
$ 5,000 $ 1,000 Cash
2
$ 1,400 supplies $ 1,400 cash $ 200 cash
3 $ 1,000 expenses.. $ 200 equity $ 1,200 cash
4 Purchases $ 1,800 expenses $ 1,400 Cash
5 $ 1,200 equity $ 1,400 expenses $ 400 cash
$ 200 payment $ 200 cash $ 1,100 cash
6
$ 400 Equity
7$ 1,100 drawing
8
9
10
Total $ 23,300 $ 5,000 $ 18,300
A= L+O
$ 23,300 5000+18300
Balanced $ 23,300
Exercise 03 Complete Financial Statements:
Income Statement
Revenues
Service Revenues $ 4,700.00
Expenses
Salaries and Wages Expense $ 900.00
Rent Expense $ 600.00
Advertisement Expense $ 250.00
Utilities Expense $ 200.00
Total Expense $ 1,950.00
Net Income $ 2,750.00
Owner's Equity Statement
Beginning Owner's Capital $ -
Add: Investments $ 13,000.00
Net Income $ 2,750.00
Less: Drawings $ 1,100.00
Ending Owner's Equity Capital $ 14,650.00
Balance Sheet
Assets
Cash $ 6,250.00
Accounts Receivables $ 1,400.00
Supplies $ 1,600.00
Equipment $ 7,000.00
Total Assets $ 16,250.00
Liabilities and Owner's Equity
Liabilities
Accounts Payable $ 1,600.00
Owner's Equity $ 14,650.00
Owner's Capital $ -
Total Liabilities and Owner's Equity $ 16,250.00
Exercise 04 Examine the Impact of the Transactions:
# Statement Increase Decrease
1 Cash investment to start a business. Assets, Owner's Equity
2 Bought equipment on credit. Assets, Liabilities
3 Paid salaries and wages. Assets / O-Equity
4 Billed customers for provided services. Assets / Owner;s Equity
5 Received cash from customers for transaction #4. Assets / Owner;s Equity
6 Withdrawal of cash for owner's personal use. Assets / Owner;s Equity
7 Advertising expense on credit. Assets, Liabilities
8 Bought additional equipment on cash. Assets / Owner;s Equity
9 Received cash from customers for service. Assets / Owner;s Equity
10 Purchased laptop on account. Assets / Owner;s Equity
11 Paid cash for rent expense. Liabilities Asset
12 Received cash for service, billed last month. Assets / Owner;s Equity
13 Performed payroll services for cash. Assets, Liabilities
14 Paid cash a company for their services. Assets / Owner;s Equity
15 Additional investment on the business. Assets / Owner;s Equity
16 Payment for the laptop purchased in transaction #10. Assets / Owner;s Equity
17 Incurred advertisement expense on account. Liabilities Assets,
18 Bought Air Conditioner on credit. Assets, Liabilities
19 Payment for the air conditioner Assets / Owner;s Equity
Employee ID Name Gender Position Date Joined Email Street Address Sales
E-131 Rachel Green Female Senior Salesperson 01-Mar-22 [email protected] 9416 Lexington Avenue $25,010
E-132 Ross Geller Male Counter Salesperson 06-Mar-22 [email protected] 597 Daniel Moss Road $35,600
E-133 Joey Tribbiani Male Junior Salesperson 07-Mar-22 [email protected] 1813 Rangeway Drive $42,150
E-134 Chandler Bing Male Senior Salesperson 17-Mar-22 [email protected] 289 Creek Drive $102,000
E-135 Monica Geller Female Counter Salesperson 25-Mar-22 [email protected] 134 East North Canyon Road $28,300
E-136 Phoebe Buffay Female Junior Salesperson 26-Mar-22 [email protected] 207 North Denver Street $34,500
E-137 Ben Van Lier Male Travelling Salesperson 31-Mar-22 [email protected] 433 Nancy Circle $95,000
E-138 Adam King Male Senior Salesperson 15-Apr-22 [email protected] 7982 Crescent Oaks Park $12,500
E-139 Rowan Bettjeman Male Counter Salesperson 20-Apr-22 [email protected] 1325 Belgrove Place $35,623
E-140 Ellie Harwood Female Travelling Salesperson 25-Apr-22 [email protected] 5737 Moose Alley $66,785
E-141 Britt Scott Clark Female Senior Salesperson 07-May-22 [email protected] 812 Memorial Trail $135,430
E-142 Alan Morrison Male Junior Salesperson 11-May-22 [email protected] 6 Old Gate Hill $187,020
E-143 Hamish Parkinson Male Counter Salesperson 20-May-22 [email protected] 776 High Crossing Court $98,456
E-144 Byron Coll Male Senior Salesperson 29-May-22 [email protected] 71648 Truax Center $20,400
E-145 John Blake Male Junior Salesperson 29-May-22 [email protected] 246 Del Monte Court $35,455
E-146 Stewart Broad Male Travelling Salesperson 29-May-22 [email protected] 343 Redmond Street $72,465
E-147 Dimitry Berbatov Male Senior Salesperson 29-May-22 [email protected] 91 Pierce Street $107,956
E-148 Philip Hugo Male Assistant Sales Manager 01-Jan-22 [email protected] 43 Bishop Drive $252,200
E-149 Amanda Strong Female Junior Salesperson 25-Apr-22 [email protected] 15 Jockey Hollow Street $24,598
E-150 Leah Heather Female Senior Salesperson 25-Apr-22 [email protected] 482 East Hanford $77,804
ID Name Position Name Position
E-131 Rachel Green Senior Salesperson Rachel Green Senior Salesperson
E-135
E-147 Use VLOOKUP
E-151 Use INDEX MATCH
E-144
E-133
