CHAPTER 2 - COMPREHENSIVE PROBLEM TEMPLATE

P
Acct. Pp.
Event Cash + + Supp. + +
Rec. Rent
B. Bal. $ 8,500.00
1 $ 2,000.00
2 $ (3,000.00)
3 $ 6,000.00 $ 15,000.00
4 $ (2,400.00) $ 2,400.00
5 $ 650.00
6 $ (8,000.00)
7
8 $ 600.00
9 $ 13,500.00 $ (13,500.00)
10 $ (5,800.00)
11 $ (1,500.00)
12 $ (1,000.00)
13.*
14 $ (585.00)
15.1 $ (1,600.00)
16.2
17

Bal. $ 8,900.00 + $ 1,500.00 + $ 65.00 + $ 800.00 +

Beginning supplies balance + Supplies purchased = supplies available - supplies ending balance = supplies used
 Pacilio Security Services, Inc.
Accts. Sal. Unear. Notes
Land = + + + +
Pay Pay. Rev. Pay.
$ 4,000.00 $ 5,000.00

$ (3,000.00)

$ 650.00

$ 6,200.00
$ 600.00

$ (5,800.00)

$ (400.00)
$ 1,200.00

$ 4,000.00 $ 1,050.00 + $ 1,200.00 + $ 200.00 + $ 2,000.00 +

=

$ 15,265.00 $ 15,265.00

ending balance = supplies used

 Acct.
Com. Stock + Ret. Earn.
Titles
$ 6,000.00 $ 1,500.00
$ 2,000.00 comm. Stock.
paid loan
$ 21,000.00 revenue
operating exp
operating exp
$ (8,000.00) salaries exp
$ (6,200.00) operating exp
unearned. Rev
account receivable
accounts payable
$ (1,500.00) Advertising exp
$ (1,000.00) dividends

$ (585.00) Supplies Expense

$ (1,600.00) Rent expense
$ 400.00 Revenue
$ (1,200.00) salaries exp

$ 8,000.00 + $ 2,815.00
 Pacilio Security Services, Inc.
Income Statement
For the Year Ended December 31, 2012

Service Revenue($21,0000+ $400) $ 21,400.00

Expenses

Salaries Expense($8,000+$1,200) $ 9,200.00

Other Operating Expenses $ 6,200.00

Advertising Expense $ 1,500.00
Supplies Expense $ 585.00
Rent Expense $ 1,600.00
Total Expenses $ 19,085.00

Net Income $ 2,315.00

 Pacilio Security Services, Inc.
Statement of Changes in Stockholders’ Equity

For the Year Ended December 31, 2012

Beginning Common
$ 6,000.00
Stock
Plus: Common
$ 2,000.00
Stock Issued
Ending Common
$ 8,000.00
Stock

Beginning Retained
$ 1,500.00
Earnings

Plus: Net Income $ 2,315.00

Less: Dividends $ (1,000.00)
Ending Retained
$ 2,815.00
Earnings

Total Stockholders’
$ 10,815.00
Equity
 Pacilio Security Services, Inc.
Balance Sheet
As of December 31, 2012

Assets
Cash $ 8,900.00
Accounts Receivable $ 1,500.00
Supplies $ 65.00
Prepaid Rent $ 800.00
Land $ 4,000.00
Total Assets $ 15,265.00

Liabilities
Accounts Payable $ 1,050.00
Unearned Revenue $ 200.00
Salaries Payable $ 1,200.00
Notes Payable $ 2,000.00
Total Liabilities $ 4,450.00

Stockholders’ Equity
Common Stock $ 8,000.00
Retained Earnings $ 2,815.00
Total Stockholders’ Equity $ 10,815.00

Total Liabilities and Stockholders’

$ 15,265.00
Equity
 Statement of Cash Flows

Cash Flows From Operating

Activities:

Cash Receipts from Customers1 $ 20,100.00

Cash Payment for Expenses2 $ (17,700.00)

Net Cash Flow from Operating

Activities

Cash Flows From Investing

Activities:

Cash Flows From Financing

Activities:

Cash Receipts from Stock Issue $ 2,000.00

Cash Payments on Loan $ 3,000.00
Cash Payments for Dividends $ 1,000.00

Net Cash Flow from Financing

Activities

Net Increase in Cash

Plus: Beginning Cash Balance

Ending Cash Balance

1
Cash Receipts from Customers:
Cash Sales $6,000.00
Cash received from
$600.00
unearned income
Collection of Accounts
###
Receivable
 Total Cash from Customers

Cash Payment for Expenses

2

Payment of Prepaid Rent $2,400

Payment of Salaries 8,000
Payment of Accounts Paya 5,800
Payment of Advertising 1,500
Total Cash Payment for
Expenses
ows

$ 2,400.00

$ 6,000.00

$ 8,400.00
$ 8,500.00

$ 8,900.00
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