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Student Name:
Class:
Problem 03-25
Requirement a. and b.
JEATER COMPANY
Horizontal Statements Model – 2012
Balance Sheet
Income Statement
Statement of
Event
Accounts
Merchandise
Common
Retained
Net
Cash Flows
No.
Type
Cash
+
Receivable
Inventory
=
Payable
Stock
Earnings
Revenue
–
Expenses
Income
Bal.
1a
1b
4a
4b
5a
5b
Requirement c.
Financial Statements
For the Year Ended December 31, 2012
Net Sales
Cost of Goods Sold
Gross Margin
Operating Expenses
Transportation-out
Operating Income
Statement of Changes in Stockholders’ Equity
Beginning Common Stock
Plus: Stock Issued
Ending Common Stock
Beginning Retained Earnings
Plus: Net Income
Ending Retained Earnings
Total Stockholders’ Equity
As of December 31, 2012
Assets
Cash
Merchandise Inventory
Total Assets
Liabilities
Stockholders’ Equity
Common Stock
Retained Earnings
Total Liabilities and Stockholders’ Equity
Statement of Cash Flows
Cash Flow from Operating Activities:
Inflow from Customers
Outflow for Inventory
Outflow for Expenses
Net Cash Flow from Operating Activities:
Cash Flow from Investing Activities
Cash Flow from Financing Activities
Net Change in Cash
Plus: Beginning Cash Balance
Ending Cash Balance
Problem 04-20
SUPERIOR AUTO SUPPLY, INC.
Bank Reconciliation
Unadjusted Bank Balance, May 31, 2012
Add: Deposits in transit
Bank Error
Less: Outstanding Checks:
True Cash Balance, May 31, 2012
Unadjusted Book Balance, May 31, 2012
Add: Note collected by bank
Error in recording payment for utilities
Less: Collection Fee
Bank Service Charge
NSF Checks
AS
AU
OA

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