Judith Rivera

Tarea 2.2 Acco 1050 11 septiembre 2016

a. PR 6-5A (pg.311) Preparacin de estados financieros: Estado de Situacin, Estado

de Resultados y Estado de Capital. (36 puntos)

Clairemont Co.
Income Statement
May 31, 2016
Sales
Cost of Merchandise Sold
Gross Profit
Operating expenses:
Selling expense:
Sales salaries expense
Advertising expense
Depreciation expense-store equipment
Miscellaneous selling expense
Total selling expense
Administrative expenses:
Office salarie expense
Rent expense
Depreciation expense-office equipment
Insurance expense
Office supplies expense
Mescellaneous administrative expense
Total administrative expense
Total operating expenses
Income from operations
Other income and expense
Interest expense
Net income

$11,343,000
7,850,000
3,493,000

$916,000
550,000
140,000
38,000
$1,644,000
650,000
94,000
50,000
48,000
28,100
14,500
884,600
2,528,600
$964,400
21,000
$943,400

Clairemont Co.
Statement of Owners Equity
May 31, 2016
Kristina Marble, Capital
Net income
Less withdrawals
Increase in owners equity
Kristina Marble, Capital, May 31, 2016

$3,449,100
$943,400
100,000
843,400
$4,292,500

Clairemont Co.
Balance Sheet
May 31, 2016
Assets
Current assets:
Cash
Accounts receivable
Merchandise inventory
Office supplies
Prepaid insurance
Total current assets
Property, plant, and equipment:
Store equipment
Less accumulated depreciation
Office equipment
Less accumulated depreciation
Total property, plant, and equipment
Total assets
Liabilities
Current liabilities:
Accounts payable
Note payable (current portion)
Salaries payable
Total current liabilities
Long-term liabilities:
Note payable (final payment due 2022)
Total liabilities
Owners Equity
Kristina Marble, Capital
Total liabilities and owners equity

$240,000
966,000
1,712,500
13,500
8,000
$2,940,000
$3,600,000
1,820,000
830,000
550,000

1780,000
280,000
2,060,000
$5,000,000

$366,000
50,000
41,500
$457,500
250,000
$707,500
4,292,500
$5,000,000

La diferencia entre ambas hojas de balance (blance sheet) es su formato. El blance

sheet se prepara hacia abajo y el balance sheet se prepara hacia al lado.
La diferencia entre el income statement de multiples entradas y el income
statement single-step es que en el primero proporciona una informacin ms
detallada, mientras que el single-step provee informacin ms generalizada.

b. PR 6-6A (pg.311) Preparacin de estados financieros y de asientos de cierre (36

puntos)

Clairemont Co.
Income Statement
May 31, 2016
Revenues:
Sales
Total revenues
Expenses:
Cost of merchandise sold
Selling expenses
Administrative expense
Interest expense
Total expenses
Net income

$11,343,000
$11,343,000
$7,850,000
1,644,000
884,600
21,000
10,399,600
$934,400

Clairemont Co.
Statement of Owners Equity
May 31, 2016
Kristina Marble, Capital
Net income
Less withdrawals
Increase in owners equity
Kristina Marble, Capital, May 31, 2016

$3,449,100
$943,400
100,000
843,400
$4,292,500

Clairemont Co.
Balance Sheet
May 31, 2016
Assets
Current Assets:
Cash
Accounts receivable
Merchandise inventory
Office supplies
Prepaid insurance
Property, plant, and equipment:
Store equipment
Less accumulated depreciation
Office equipment
Less accumulated depreciation

Liabilities

Current liabilities
Accounts payable
Note payable (current portion)
Salaries payable
Long-term liabilities
Note payable (final payment due 2022)
Total liabilities

$240,000
966,000
1,712,500
13,500
8,000
3,600,000
$1,820,000
830,000
550,000

Ownerss Equity
Kristina Marble, Capital

Total assets

$5,000,000

Total liabilities and owners equity

Closing Entries
May

31
31

31
31

Sales
Income Summary
Income Summary
Cost of merchandise sold
Sales salaries expense
Advertising expense
Depreciation expense-store equipment
Miscellaneous selling expense
Office salaries expense
Rent expense
Depreciation expense-office equipment
Insurance expense
Office supplies expense
Miscellaneous administrative expense
Interest expense
Income summary
Kristina Marble, Capital
Kristina Marble, Capital
Kristina Marble, Drawing

$11,343,000
10,399,600

943,400
100,000