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Editin ill Drawing Paragraph Specific Instruction - 2 Two layers of actions involved in this: Layer one: you need to record information and transaction in a timely manner as it happens (sort of like keeping a diary of things that you did): How is this done in accounting? 1 Create a ledger book using Excel recording each transaction under appropriate accounting line item as Figure out what category each item falls into (asset? liability? or equity? as items in balance sheet VS. revenue? or expense as items in income statement? Is it a cash transaction?) Layer two you need to compile information into different statements to generate report: Beginning balance sheet (as of Jan 14, 201x)? 2 Figure out what has changed for each category of asset, liability and equity (each recorded transaction has impact on a company's asset, liability and equity position) Analyze business operations conducted during the period and assess their impact on the organization (income generated/expenses incurred) and compile the information into an Income Statement Figure out what has changed for cash accounts, cash flow from operation activities, cash flow from investment activities, and cash flow from financing activities). Compile the information into a cash flow Ending balance sheet (as of the end of June, 201x), what are the assets, liabilities and equity? - 1 3 statement 5 Notes Do e Search Accounting Exercise (1) Review View Slide Show Help 11 - SINI Shape Fill Shape Outline Shape Effects Find Replace Select Dic A A A E E a 2-A- Shapes Arrange Quick Styles Va Editing Drawing Paragraph Diary of activities Jan. 1", 2018 We collected $100,000 in total from the whole class (some rich dents!) We borrowed $200,000 from a local bank (the term is 30 years). We bought an office space for $150,000 Jan. 15 201X Feb. 1. 2018 We bought office equipment for $10,000 We bought supplies for $6,000 but only paid half of them ($3,000) in cash the other half is on credit. We have hired a staff at an annual wage of $30,000 a manager is paid at an annual wage of $50,000 We've had 150 patient visits so far and each patient brings in $50 revenue per visit (no cash received yet) We paid on call nurses at a rate of $20 per patient visit (paid cash) Each patient visit consumes $10 worth of supply By the end of June of 2018 > Notes 00 BE 5 3 General Forr 3 Wrap Text $ - % 48-28 Conditional Format as Cell Formatting Table Styles Styles Cell Merge a Center Number Alignment G B 300000 D Balance Sheet Beginning Assets cash building and equipment accounts receivables Inventory Total Assets 199333 16000 4500 300000 Liability current liability long term loans Total Liability 200000 Equity Paid in capital Total Equity 100000 100000 Change of aseets during June Change in Assets Change in Liability Change in Equity -34833 3000 0 June 30th, 2011 Assets Liability Equity 265167 203000 100000 Sheet1 Sheet2 Sheets + O

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