Werner Seebacher - Management Accounting. Workbook 1

Figure 9: Profit/Loss Account, Structure for Numerical Examples

The following numerical examples are each based on an existing balance sheet and an existing profit/loss account. The profit/loss accounts which form the basis for the examples are always based on a profit/loss of 0. A possible profit or loss is only compiled when the respective economic activity is incorporated into balance sheet and profit/loss account.

After each numerical example – immediately after the assignment of tasks and the basic data – an empty answer sheet is added for entering the answers.

Please, incorporate the respective business activities (that have been described in the assignment of tasks) into the existing balance sheet and profit/loss account by supplementing their numerical effects on the respective item of balance sheet and profit/loss account, into the so far empty answer sheet.

Please, always follow the simple rule that every figure must have a ­double effect in the context of balance sheet and p/l.

In the next step, supplement the respective items of the basic balance sheet and basic p/l which have not changed through the presentation of the business activity.

Then compile the sum total of the total expenses, the sum total of the total income in the p/l, and subsequently compile the profit or loss that has arisen through the business activity by comparing expenses and income.

Please transfer the profit or loss into the balance sheet and increase the existing equity in case of a profit or reduce the existing equity in case of a loss.

After this conversion of profit or loss into the item Equity, the balance sheet must now lead to the same sum totals on the left side, the assets side, and on the right side, the capital side.

All kinds of taxes – taxes on income (income tax, corporate income tax, trade tax) as well as value added tax VAT – are not to be taken into account in the numerical examples.

On the following pages, after the empty answer sheet, the individual answer steps with exact annotations to the respective answer steps are presented. All answer steps are summarized and presented in a comprehensive (overall) answer.

The following numerical examples which represent typical business activities or business cases respectively, are presented in the “Workbook 1 – Balance Sheet | Profit/Loss Account”:

- Example 1: Foundation of an Enterprise

- Example 2: Capital Increase

- Example 3: Dividend

- Example 4: Investment

- Example 5: Financing

- Example 6: Investment and Financing

- Example 7: Purchase/Use of Goods, Turnover/Sales, Bank Account

- Example 8: Purchase/Use of Goods, Turnover/Sales, Receivables, Liabilities

- Example 9: Deferred Charges

- Example 10: Deferred Charges, Subsequent Year

- Example 11: Deferred Charges, Subsequent Year, Continuation

- Example 12: Deferred Income

- Example 13: Deferred Income, Subsequent Year

- Example 14: Deferred Income, Subsequent Year, Continuation

- Example 15: Provision, Formation

- Example 16: Provision, Reversal

- Example 17: Provision, Payment

- Example 18: Asset Disposal

- Example 19: Sale and Lease Back

- Example 20: Goods on Own Account

Assignment of tasks

An new enterprise is founded. In the framework of the foundation the shareholders generate a cash deposit of 300,000.

On the next page the completely empty balance sheet and profit/loss account (p/l) of the enterprise to be founded, are presented.

Please present the effect of the cash deposit in balance sheet and p/l of the enterprise.

Basic Data

Figure 10: Foundation of an Enterprise | Basic Data

Answer Form

Figure 11: Foundation of an Enterprise | Answer Form

Complete Answer Key Step 1/1

Figure 12: Foundation of an Enterprise | Complete Answer Key Step 1/1

The foundation of the enterprise takes place in form of a cash deposit. The shareholders invest equity of 300,000 into the enterprise by paying the amount of 300,000 into the bank account of the enterprise to be founded. (1)

Like that, the equity rises by 300,000 in the balance sheet and at the same time the bank account of the enterprise to be founded rises by 300,000.

The p/l remains completely the same.

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