Ejercicios Resueltos De Contabilidad _best_ Site

The loan of $20,000 was not in the asset side? Cash includes it. The real issue: The trial balance above was inconsistent. Let’s rebuild correctly in a real exercise. 6. Exercise 5: Closing Entries Using the corrected Income Statement (Net Income = $10,100), close the temporary accounts.

– Still not matching assets? Mistake: The capital should not be $50,000 if net income increased equity. Wait – in a sole proprietorship, net income closes to owner’s capital. So:

| Date | Transaction | |------|-------------| | Feb 1 | Paid rent $1,500 cash. | | Feb 5 | Performed services for $4,000 cash. | | Feb 10 | Purchased equipment $6,000, paying $2,000 cash, rest on credit. | | Feb 18 | Billed a client for services $3,000 (to be paid later). | | Feb 25 | Collected $1,000 from that client. | | Feb 28 | Paid $500 of the accounts payable from Feb 10. | ejercicios resueltos de contabilidad

Initial cash was 50,000 (Jan 1). After Feb transactions, cash is 1,000? That’s impossible because we had 55,000 after Jan. We must include beginning balances.

Statement of Retained Earnings Beginning Retained Earnings (assumed 0) Add: Net Income = $10,100 Less: Dividends (none) Ending Retained Earnings = $10,100 Balance Sheet (March 31, 2024) Assets Cash = $12,000 A/R = $5,000 Supplies = $200 Prepaid Insurance = $1,800 Equipment = $21,000 Less: Accum. Deprec. = ($1,000) → Net Equipment = $20,000 Total Assets = $39,000 The loan of $20,000 was not in the asset side

A/P = $3,500 Salaries Payable = $900 Loan Payable = $20,000 Total Liabilities = $24,400

Credit: 4,000 + 3,000 = 7,000

Capital = $50,000 Retained Earnings = $10,100 Total Equity = $60,100