how would the table of analysis be set up with these transactions:
started business with $25,000
paid rent $2,000
purchased equipment $6,000 only paid 40% owes difference
purchased food and beverage $4,000 paid 75% in cash owes difference
cash sales $4,000
utility bill was received but not paid $200
sales of $1,000 did not receive any money
phone bill $300 received and paid same day
paid employees $500
sales of $1,000 only paid half owes difference
collected $25,000 that was owed on first sale
received gas bill of $400
sales of $2,000 only paid 75% owes difference
To set up the table of analysis for these transactions, you can use the following columns:
1. Date: The date when each transaction occurred.
2. Description: A brief description of each transaction.
3. Cash Inflows: The amount of cash received in each transaction.
4. Accounts Receivable: The amount owed to the business from each transaction.
5. Cash Outflows: The amount of cash paid out in each transaction.
6. Accounts Payable: The amount owed by the business for each transaction.
7. Net Cash Flow: The difference between cash inflows and cash outflows.
8. Net Accounts Receivable: The total amount of accounts receivable after each transaction.
9. Net Accounts Payable: The total amount of accounts payable after each transaction.
Using this format, the table of analysis would look like this:
| Date | Description | Cash Inflows | Accounts Receivable | Cash Outflows | Accounts Payable | Net Cash Flow | Net Accounts Receivable | Net Accounts Payable |
|----------|---------------------------|--------------|---------------------|---------------|------------------|---------------|------------------------|----------------------|
| 01/01/20 | Started business | $25,000 | $0 | $0 | $0 | $25,000 | $0 | $0 |
| 01/05/20 | Paid rent | $0 | $0 | ($2,000) | $0 | ($2,000) | $0 | ($2,000) |
| 01/10/20 | Purchased equipment | $0 | $0 | ($2,400) | ($3,600) | ($5,600) | $0 | ($5,600) |
| 01/15/20 | Purchased food and beverage| $0 | ($3,000) | ($1,000) | ($2,100) | ($3,100) | ($3,000) | ($7,700) |
| 01/20/20 | Cash sales | $4,000 | ($3,000) | $0 | ($2,100) | $4,000 | ($6,000) | ($9,800) |
| 01/25/20 | Utility bill | $0 | $0 | ($200) | ($2,300) | ($200) | ($6,000) | ($10,000) |
| 01/28/20 | Sales | $0 | ($4,000) | $0 | ($2,300) | $0 | ($10,000) | ($12,300) |
| 01/30/20 | Phone bill | ($300) | ($4,000) | ($300) | ($2,300) | ($600) | ($10,000) | ($14,600) |
| 02/01/20 | Paid employees | ($500) | ($4,000) | ($800) | ($2,300) | ($1,300) | ($10,000) | ($16,900) |
| 02/05/20 | Sales | $0 | ($4,000) | ($500) | ($2,300) | ($500) | ($10,000) | ($19,200) |
| 02/10/20 | Collected accounts receivable | $25,000 | ($10,000) | ($500) | ($2,300) | $24,500 | ($20,000) | ($21,900) |
| 02/15/20 | Received gas bill | $0 | ($10,000) | ($400) | ($2,700) | ($400) | ($20,000) | ($24,600) |
| 02/18/20 | Sales | $0 | ($12,000) | ($600) | ($2,700) | ($600) | ($22,000) | ($27,300) |
Note: This is a simplified analysis table that focuses on the cash flow, accounts receivable, and accounts payable. It does not include other financial statement items.
To set up the table of analysis for these transactions, you can use the following columns:
1. Transaction Date: Record the date on which each transaction occurred.
2. Transaction Description: Provide a brief description of each transaction.
3. Cash Inflows: Record any cash coming into the business.
4. Cash Outflows: Record any cash leaving the business.
5. Accounts Payable: Keep track of outstanding payments.
6. Accounts Receivable: Track any outstanding amounts owed to the business.
7. Net Cash Flow: Calculate the difference between cash inflows and outflows.
Here's how you can fill in the table for the given transactions:
| Transaction Date | Transaction Description | Cash Inflows | Cash Outflows | Accounts Payable | Accounts Receivable | Net Cash Flow |
|------------------|-------------------------------------------------|--------------|---------------|------------------|---------------------|---------------|
| | Started business with $25,000 | $25,000 | | | | $25,000 |
| | Paid rent $2,000 | | $2,000 | | | -$2,000 |
| | Purchased equipment $6,000 (40% paid) | | $2,400 | $3,600 | | -$2,400 |
| | Purchased food and beverage $4,000 (75% paid) | | $1,000 | $3,000 | | -$1,000 |
| | Cash sales $4,000 | $4,000 | | | | $4,000 |
| | Utility bill received but not paid $200 | | | $200 | | |
| | Sales of $1,000, no cash received | | | $1,000 | | |
| | Phone bill $300 received and paid same day | | $300 | | | -$300 |
| | Paid employees $500 | | $500 | | | -$500 |
| | Sales of $1,000, only half paid | | | $500 | | |
| | Collected $25,000 owed on the first sale | $25,000 | | | | $25,000 |
| | Received gas bill of $400 | | | $400 | | |
| | Sales of $2,000, only 75% paid | | | $500 | | |
| Totals | | $54,000 | $6,200 | $9,200 | | $47,800 |
In this table, the accounts payable column is used to track outstanding amounts the business owes, such as the remaining balance on equipment and food and beverage purchases. The accounts receivable column is used to track amounts owed to the business, such as sales for which cash has not been received. The net cash flow column is calculated by subtracting the cash outflows from the cash inflows.