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Tommy TUMler's bike business
Tommy TUMler is about to start a bike business. You are hired as his accountant. For the following case study, you will be asked to prepare the balance sheet for Tommy TUMler's bike business. Each part has a different set of transactions. Match the transactions to the place in the balance sheet.
Starting
After Tommy TUMler's grandmother heard about his entrepreneurial activities, she was thrilled and tr read more
Capital Investment Tommy TUMler
9000
Capital Investment Tommy TUMler (Gift Grandma)
1000
Debt Capital
10000
Commercial Account
20000
Adding Machinery and Tools
Assuming the machines have a time value of 3,000 CU and the tools a time value of 1,000 CU. Amy Ange read more
In-kind investments
4000
Machinery
3000
Tools
1000
Buying more equipment
Tommy TUMler bought more equipment for his bike business. These transactions have different effects. read more
Computer (via Bank Transfer)
1500
Computer (via Bank Transfer)
1500
Tools (on Credit)
2000
Tools (on Credit)
2000
Tools (via Cash)
2500
Tools (via Cash)
2500
Special Machinery (via Credit)
5000
Special Machinery (via Credit)
5000
Financing the business
Furthermore, he was able to convince his bank manager Bruno Banco of his business model during a tal read more
Loan
30000
Loan
30000
Capital Investment Amy Angel
12000
Capital Investment Amy Angel
12000
Personal Car Repair
3500
Personal Car Repair
3500
In this case study, you can learn how to record transactions on a balance sheet.
Drag the provided transaction into the correct sections of the balance sheet and accounts. (Desktop Only)