Assignment exercise unit 1 and 2

 Unit 1. Complete exercise on the Excel spread sheet provided. Exercise 10 Balance sheet items From the following list of selected items taken from the records of Wright Appliance Service as of a specific date, identify those that would appear on the balance sheet.    Costco Target Wal-MartAssets $23,815 $44,533 $  (c)  Liabilities  12,986 (b) 97,777Stockholders’ equity (a) 15,347 72,929             Exercise -12 Financial statement items Obj|4 Identify each of the following items as (a) an asset, (b) a liability, (c) revenue, (d) an expense, or (e) a dividend: 1.Amounts due from customers2.Amounts owed suppliers3.Cash on hand4.Cash paid to stockholders5.Cash sales6.Equipment7.Note payable owed to the bank8.Rent paid for the month9.Sales commissions paid to salespersons10.Wages paid to employees  Exercise-18Statement of cash flowsObj|4Indicate whether each of the following cash activities would be reported on the statement of cash flows as (a) an operating activity, (b) an investing activity, or (c) a financing activity. 1. Issued capital stock2. Paid rent3. Paid for office equipment4. Sold services5. Issued a note payable6. Sold excess office equipment7. Paid officers’ salaries8. Paid for advertising9. Paid insurance10. Paid dividends   Unit 2: Use Excel Spread Sheet to complete this assignment. E2-17Income statementObj|3, 5 ✓ Net income, $45,000After its first month of operation, the following amounts were taken from the accounting records of Benjamin Realty Inc. as of April 30, 2013. Capital stock $25,000 Notes payable $ 35,000Cash 53,000 Rent expense 5,000Dividends 10,000 Retained earnings 0Interest expense 2,000 Salaries expense 75,000Land 42,000 Sales commissions 145,000Miscellaneous expense 3,000 Utilities expense 15,000 Prepare an income statement for the month ending April 30, 2013.   E2-18 Retained earnings statement Obj|3, 5 ✓ Retained earnings, April 30, 2013, $35,000 Using the financial data shown in Exercise 2-17 for Benjamin Realty Inc., prepare a retained earnings statement for the month ending April 30, 2013. E2-19 Balance sheet Obj|3, 5 ✓ Total assets, $95,000 Using the financial data shown in Exercise 2-17 for Benjamin Realty Inc., prepare a balance sheet as of April 30, 2013.       

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