Accounting Exercises: Balance Sheet and Profit

What is the total asset value in the initial balance sheet prepared for Exercise 1?

Which transaction in Exercise 2 will decrease the bank balance the most?

In Exercise 1, what is the total profit or loss calculated using the management accounting formula?

When recording the sale of merchandise in cash in Exercise 2, which balance sheet item is directly increased?

What effect does the loss of a 50 Franc bill have on the final balance sheet in Exercise 2?

In Exercise 3, which initial balance sheet item has the highest value?

What is the total liabilities amount in the initial balance sheet of Exercise 1?

After all the transactions in Exercise 2, how does the equipment account change?

Balance Sheet Formula

Profit & Loss Statement Formula

Transaction Recording

Initial Balance Sheet

Exercise 1

Initial Balance Sheet Data:
- Furniture: 20,000
- Merchandise: 300,000
- Customers' Credit: 80,000
- Bank Balance: 60,000
- Cash: 15,000
- Suppliers' Debt: 95,000
Transactions:
- Furniture Purchase (credit): 5,000
- Merchandise Sales (credit): 170,000 (120,000 via check)
- Merchandise Purchase (cash): 4,000
- Supplier Payment (bank): 10,000
- Merchandise Sales (cash): 65,000 (50,000 via check)
- Salary Payment: 20,000
- Electricity Payment: 1,000
- Customer Payment (cash): 30,000
Final Balance Sheet and Profit Calculation:
- Calculate the final balance sheet
- Determine the profit using the balance sheet formula.

Exercise 2

Initial Balance Sheet Data:
- Building: 70,000
- Equipment: 20,000
- Merchandise: 25,000
- Customers' Credit: 15,000
- Bank Balance: 45,000
- Cash: 18,000
- Suppliers' Debt: 23,000
Transactions
- Equipment Purchase (cash): 4,000
- Merchandise Sales (credit; 18,000 via check): 26,000
- Supplier Payment (bank): 13,000
- REGIDESO Payment: 600
- Personnel Payment: 21,200
- Merchandise Sales (cash): 9,200 (6,000 via check)
- Lost Bill: 50
Final Balance Sheet and Profit Calculation:
- Calculate the final balance sheet
- Determine the profit using the balance sheet formula.

Exercise 3

Initial Balance Sheet Data:
- Building: 50,000
- Equipment: 30,000
- Cash: 42,000
- Merchandise: 65,000
- Customers' Credit: 25,000
- Bank Balance: 45,000
- Suppliers' Debt: 37,000
Calculate the final balance sheet and profit using the balance sheet formula

This quiz focuses on calculating balance sheets and determining profits based on financial transactions. You'll analyze initial balance sheets, perform a series of transactions, and derive final balances and profits. Perfect for accounting students looking to practice their financial analysis skills.