Financial events series: Table of contents

To demonstrate how various business transactions and other economic events impact the financial statements, this series tracks the accounts of the first fiscal year of a fictional start-up company called TechnolOntario, Inc. Common financial events are introduced and recorded one by one, and they accumulate on the financial statements as the start-up’s fiscal year progresses.

Introduction, Part 1 of 29
Incorporation costs, Part 2 of 29
Sale of common shares, Part 3 of 29
Receive a loan, Part 4 of 29
Lease office space, Part 5 of 29
Rent payment, Part 6 of 29
Purchase of fixed assets—Partially on credit, Part 7 of 29
Purchase of goods for resale, Part 8 of 29
Purchase fixed assets on credit, Part 9 of 29
Hire employee, Part 10 of 29
Owner decides to defer salary, Part 11 of 29
Pay salaries, Part 12 of 29
Purchase a (used) company car, Part 13 of 29
Earning of services revenue, Part 14 of 29
Earning of product sales revenue, Part 15 of 29
Deferred sale, Part 16 of 29
Purchase current assets on credit, Part 17 of 29
Pay accounts payable, Part 18 of 29
Record a bad debt, Part 19 of 29
Record earning of services with prepaid contract, Part 20 of 29
Record aggregate product sales, Part 21 of 29
Full payment of salaries, Part 22 of 29
Aggregate purchases of goods for resale, Part 23 of 29
Record cost of goods sold, Part 24 of 29
Pay utilities, Part 25 of 29
Prepaid contract and the fiscal year-end, Part 26 of 29
Record depreciation, Part 27 of 29
Accrue interest, Part 28 of 29
Record rent expense, Part 29 of 29

Tags: accounting, financial-statements