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    Problem 2-14-Accounting

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    Sofia Gwen Ventura
    This document appears to be a balance sheet for a sports franchise. It lists assets such as cash, accounts receivable, uniforms, prepaid insurance, and land. It also lists liabilities like notes payable, accounts payable, mortgage payable, and capital. Additionally, it shows revenues from game attendance and expenses such as salaries, advertising, travel, laundry, medical, utilities, and miscellaneous. The totals at the bottom indicate the accounting equation is balanced with total assets equal to total liabilities plus equity.

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    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd

    Problem 2-14-Accounting

    Uploaded by

    Sofia Gwen Ventura
    113 views3 pages
    This document appears to be a balance sheet for a sports franchise. It lists assets such as cash, accounts receivable, uniforms, prepaid insurance, and land. It also lists liabilities like notes payable, accounts payable, mortgage payable, and capital. Additionally, it shows revenues from game attendance and expenses such as salaries, advertising, travel, laundry, medical, utilities, and miscellaneous. The totals at the bottom indicate the accounting equation is balanced with total assets equal to total liabilities plus equity.

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    problem 2-14-Accounting

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    This document appears to be a balance sheet for a sports franchise. It lists assets such as cash, accounts receivable, uniforms, prepaid insurance, and land. It also lists liabilities like notes payable, accounts payable, mortgage payable, and capital. Additionally, it shows revenues from game attendance and expenses such as salaries, advertising, travel, laundry, medical, utilities, and miscellaneous. The totals at the bottom indicate the accounting equation is balanced with total assets equal to total liabilities plus equity.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    113 views3 pages

    Problem 2-14-Accounting

    Uploaded by

    Sofia Gwen Ventura
    This document appears to be a balance sheet for a sports franchise. It lists assets such as cash, accounts receivable, uniforms, prepaid insurance, and land. It also lists liabilities like notes payable, accounts payable, mortgage payable, and capital. Additionally, it shows revenues from game attendance and expenses such as salaries, advertising, travel, laundry, medical, utilities, and miscellaneous. The totals at the bottom indicate the accounting equation is balanced with total assets equal to total liabilities plus equity.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    of 3

    cash Accounts Receivable Notes Payable Game Attendance Revenues

    225,000 2,809,500 1,650,000


    2,809,500 320,250 600,000
    1,657,500 2,489,250 1,050,000
    78,600
    600,000 Uniform Supplies Accounts Payable Salaries Expense
    215,250 30,750 1,657,500 1,136,250
    1,136,250 30,750 1,240,650
    3,316,050 Prepaid Insurance 319,500 2,376,900
    558,000 215,250 941,850
    12,600 2,599,350 350,250 Advertising Expense
    941,850 Land 2,249,100 78,600
    26,850
    18,900 Training Facilities Mortgage Payable Travel Expense
    210,450 558,000
    1,240,650 Training Equipment Reyes, Capital
    250,000 319,500 Laundry Expense
    6,125,550 7,171,900 Reyes, Withdrawals 12,600
    Player Contracts 250,000
    1,046,350 1,875,000
    Game Attendance Revenues Medical Expense
    320,250 18,900
    3,316,050
    3,636,300 Utilities Expense
    210,450
    Salaries Expense
    Miscellaneous Expense
    26,850

    Advertising Expense

    Travel Expense

    Laundry Expense
    cash 83,450
    Accounts Receivable 1,223,250
    Uniform Supplies 61,800
    Prepaid Insurance 215,250
    Land 2,025,000
    Training Facilities 12,750,000
    Training Equipment 2,944,500
    Player Contracts 13,125,000
    Notes Payable 2,850,000
    Accounts Payable 2,475,900
    Mortgage Payable 10,500,000
    Reyes, Capital 17,643,750
    Reyes, Withdrawals 2,125,000
    G.A revenues 13,761,300
    Salaries Expense 7,251,900
    Advertising Expense 479,550
    Travel Expense 2,090,400
    Laundry Expense 540,600
    Medical Expense 213,450
    Utilities Expense 1,944,450
    Miscellaneous Expense 157,350
    47,230,950 47,230,950

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