balance sheet n.
Download
Skip this Video
Loading SlideShow in 5 Seconds..
Balance Sheet PowerPoint Presentation
Download Presentation
Balance Sheet

Loading in 2 Seconds...

play fullscreen
1 / 4

Balance Sheet - PowerPoint PPT Presentation


  • 175 Views
  • Uploaded on

Balance Sheet. Mr. Hill started a new business. Prepare balance sheet entries for the following transactions . Driving instructor James Hill established a private driving school. On June 1, he invested 50 000 of his personal funds in the school.

loader
I am the owner, or an agent authorized to act on behalf of the owner, of the copyrighted work described.
capcha
Download Presentation

PowerPoint Slideshow about 'Balance Sheet' - idola


An Image/Link below is provided (as is) to download presentation

Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author.While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server.


- - - - - - - - - - - - - - - - - - - - - - - - - - E N D - - - - - - - - - - - - - - - - - - - - - - - - - -
Presentation Transcript
balance sheet

Balance Sheet

Mr. Hillstarted a new business.

Prepare balance sheetentriesforthefollowingtransactions.

slide2

Driving instructor James Hill established a private driving school.

On June 1, he invested 50 000 of his personal funds in the school.

On June 2, he paid 18 000 cash for a lot to be used for storing vehicles and for some driving instruction.

On June 3, Hill paid 600 to rent a furnished office for June and 4 000 to lease training vehicles. Both transactions were paid in cash.

slide3

On June 4, he paid cash for vehicle insurance premiums of 3 600 for three years.

On June 5, Hill purchased fuel and other supplies for 2 200. He didn‘t pay for it, the supplier gave him an invoice due in 25 days.

On June 26, students were billed 18 500 for June instruction fees. The fees were to be transferred to school‘s bank account.

On June 30, Hill paid instructors‘ salaries of 8 000 for June.

On June 30, the chool collected 14 000 on account from students billed in transaction 6).

slide4

On June 30, the school paid 1 200 on account for the fuel and supplies purchased in transaction 5).

On June 30, Hill paid 150 for office utilities (electricity and telephone).

On June 30, Hill withdrew 1 000 from the firm for personal use.

On June 30, 1/36 of the prepaid insurance has expired.

On June 30, supplies were counted, and only 550 worth of supplies remainded on hand.