Financial & Managerial Accounting 3rd Edition by Charles Horngren,Harrison, Walter,Suzanne Oliver

تمرين 57

Analyzing transactions and preparing financial statements
Draper Consulting, Inc., began operations and completed the following transactions during the first half of December:

Requirements
1. Analyze the effects of Draper Consulting's transactions on the accounting eqution. Use the format of Exhibit 1-6, and include these headings: Cash, Accounts receivable, Supplies, Equipment, Furniture, Accounts payable, Common stock and Retained earnings.
2. Prepare the income statement of Draper Consulting for the month ended December 31, 2012.
3. Prepare the statement of retained earnings for the month ended December 31, 2012.
4. Prepare the balance sheet at December 31, 2012.
In Chapter 2, we will account for these same transactions a different way-as the accounting actually performed in practice