Practice Work 1 (USING EXCEL INDIVIDUALLY SUBMIT THE FOLLOWING QUESTIONS) You have to present the steps. A. With the following transactions post in the respective Asset, Liability, Capital, Expense and Income accounts (USING T-ACCOUNTS)

1. You receive the earnings of the shares of $ 1000.

2. Request a loan of $ 2000 from the bank and place it in the box

3. An invoice for direct materials of $ 600 is received.

4. The salary for the direct work week is paid for $ 250.

5. The electricity bill is received for $ 120.

6. You pay $ 240 of the bill of materials.

7. The electricity is paid.

8. A sale of $ 1500 is made and the customer is billed.

9. The client pays us $ 800 of the invoice.

10. You receive a bill for $ 100 from legal services.

B. Prepare the Balance sheet based on these transactions.

C. Prepare the Income Statement based on these transactions.

EXAMPLE OF WHAT TO DO

CAPITAL Debito Balance IE 2110: FINANCE AND COST ACCOUNTING - MODULE 1 BALANCE SHEET ACTIVOS PASIVOS Cuenta Debito Credito Cuenta Debito Credito Cuenta Ahorros (T1) $2,000.00 Prestamos (T4) $3,000.00 Acciones (T3) Balance $2,000.00 Balance $3,000.00 Efectivo Cuentas a Pagar Retencion de Ganancias Transferencia de Efectivo (T1) $2,000.00 Cobro de Materiales (T5) $ 400.00 Pago de labor directa (T2) $ 130.00 Pago de cuenta parcial (T6)| $ 200.00 Ganacias de acciones (T3) $ 500.00 Balance $ 200.00 Prestamos (T4) $3,000.00 Pago parcial de materiales (T6) $ 200.00 Balance $5,170.00 Cuentas a Cobrar Ventas (17) $1,200.00 Balance $1,200.00 Credito $ 500.00 $ 500.00 $ 670.00 $ 670.00 Balance Balance Activos $4,370.00 Balance Pasivos $3,200.00 Balance Capital $1,170.00 INCOME STATEMENT INGRESOS Credito Debito Cuenta Labor Directa (T2) GASTOS Debito $ 130.00 Balance $ 130.00 $ 400.00 Balance $ 400.00 Cuenta Ventas (17) Credito $ 1,200.00 $ 1,200.00 Balance GANANCIAS RETENIDAS = INGRESOS - COTOS = $1,200 - $530 Materiales (T5) = $670 CUADRE DE CUENTAS Activos Pasivos + Capital Balance Gastos $ 530.00 Balance Ingresos $1,200.00