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Page 1 of 2 Chapter 1 Additional Problem Problem 1-3 The Cash Bucket Accounting System This problem repeats the Cash Bucket transactions from Chapter 1. Print the forms on the next page and use them complete this problem. Requirement 1 A. You will utilize the following four accounts: My Equity, Note Payable, Sister's Equity. and Cash. Label the four "T" accounts using these account names. B. Put Dr and Cr Labels at the top of each "T" account. Also put "+" and "-" signs above the Dr and Cr Labels. C. Because you are just starting your Cash Bucket system, put a beginning balance of zero in each account. Label these amounts as "Beg. Bal." Requirement 2 For each of the following transactions make the required entries in the "T" accounts: (The description of the transaction that you write in the Taccount should be very brief. For example the description for transaction A. could be "I put in cash." There are no right or wrong descriptions for the transactions.) A. You put $200 into the Cash Bucket. B. Your sister puts $150 into the Cash Bucket. C. Your sister takes $20 out of the Cash Bucket. D. You take $15 out of the Cash Bucket. E. Your Dad loans $100 to the Cash Bucket and you sign a Note for the loan. F. You take $25 out of the Cash Bucket, to pay off a portion of Dad's loan. Requirement 3 Compute an ending balance for each account. Be sure to place a Total Line in each account and the label "End. Bal." Requirement 4 Prepare a Trial Balance. Prepare a Balance Sheet. Requirement 6 Compare your solutions for Requirements 1 through 5 to the Debits and Credits tab in the 1-Stuff & Claims-to-Stuff workbook. Requirement 5 Problem 1-3 Forms Assets Account Name Page 2 of 2 Liabilities Trial Balance Total Assets: Liabilities: Owners' Equity: Chapter 1 Additional Problem -- SOLID FOOTING Owners' Equity Balance Sheet S $ $ AutoSave OFF A B 2 Home Insert Draw Page Layout Formulas Data Review - Arial 10 A A [B B I U V A == Y + X fx A B C D F Problem 1-3-The Cash Bucket Accounting System = + Cash Dr. Beg. Belance 0 L P21 4 5 8 7 L S 10 11 12 13 14 15 16 17 18 19 20 21 Poste 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 Ready H General Ledger - Trial Bal. Cr.i Trial Balance Total Balance Sheet Account Name Assets: Liabilities: + is G Problem 1-3 Forms The Cash Bucket.xls- Compatibility Mode View Tell me Wrap Text v General v Merge & Center v $ J == H + I + K % 9 L to m M N ... Cell Conditional Format Formatting as Table Styles 0 P Q R Insert v Delete Format v 8 *47* 27. MY Sort & Find & Filter Select V T u 3 Share Analyze Data O Comments Sensitivity + 100% Y AutoSave OFF A B 2 C 6 - Home Insert Draw Page Layout Formulas Data Review - Arial 10 A A [A BIU Av == v + x fx B C LO Poste P21 37 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 80 61 62 63 64 65 GE 67 88 69 70 71 72 73 74 75 76 77 78 79 80 81 82 A Ready General Ledger - Trial Bal. Assets: Liabilities: Equity: + Balance Sheet S $ S G Problem 1-3 Forms The Cash Bucket.xls- Compatibility Mode View Tell me Wrap Text v General v Merge & Center v Y J == K 5 M N ... Cell Conditional Format Formatting as Table Styles D P Q R Insert v Delete Format v 8 . 47 27. Y Sort & Filter V T U Find & Select V O Comments Sensitivity X Cat 100 7: Share Analyze Data TE T Y