Name:
Class:
Problem Student 03.02A
Cash
60,000
(16,000)
10,000
(16,000)
Correct!
Office Furniture
16,000
3,000
Correct!
Office Equipment
950
Correct!
Automobile
16,000
Greta Davis, Capital
(4,000)
60,000
10,000
Correct!
Cash
(950)
(4,000)
Try again!
Accounts Payable
(950)
950
3,000
Correct!
Cash
Correct!
Cash
Greta Davis, Capital
Office Equipment
Accounts Payable
Accounts Payable
Cash
Greta Davis, Drawing
Cash
Given Data P03.02A:
PROFESSIONAL COUNSELING SERVICES
Selected Transactions
1.
2.
3.
4.
5.
6.
7.
8.
Greta Davis invested cash in the business.
Purchased office furniture for cash.
Bought a fax machine; payment is due in 30 days.
Purchased a used car for cash.
Davis invested additional cash.
Bought a new computer; payment is due in 60 days.
Paid cash to settle the amount owed on the fax machine.
Davis withdrew cash for personal expenses.
$60,000
$16,000
$950
$16,000
$10,000
$3,000
$950
$4,000
Student Name:
Class:
Problem 03.04A
Cash
+
150,000
7,200
6,500
13,500
7,000
111,810
5,000
15,720
1,150
12,000
3,000
15,000
8,400
2,400
600
1,120
8,000
72,390
Correct!
Office Furniture
+
15,720
4,800
Accounts Receivable
+
13,000
6,500
15,000
7,000
66,000
Correct!
14,500
Accounts Payable
+
2,400
24,000
4,800
15,000
20,520
2,400
1,120
Office Cleaning Expense
+
3,000
3,000
Correct!
41,400
Fees Income
-
+
7,200
13,500
15,000
13,000
48,700
8,000
Correct!
John Wilson, Capital
+
150,000
150,000
Correct!
Correct!
Utilities Expense
+
1,120
13,500
Correct!
Correct!
John Wilson, Drawing
+
8,000
Office Equipment
+
36,000
30,000
Correct!
Salaries Expense
+
8,400
8,400
Correct!
Correct!
Rent Expense
+
5,000
5,000
Correct!
Telephone Expense
+
1,150
1,150
Correct!
Copy Expense
+
600
600
Correct!
How much does the company owe in Accounts Payable?
41,400
Correct!
Given Data P03.04A:
JOHN WILSON, LANDSCAPE CONSULTANT
Transactions
a.
b.
c.
d.
e.
f.
g.
h.
i.
j.
k.
l.
m.
n.
o.
p.
q.
r.
s.
Wilson invested cash to start the business.
Paid for the current month's rent
Bought office furniture for cash.
Performed services for cash.
Paid for the monthly telephone bill.
Performed services on credit.
Purchased computer and copier:
Paid cash down
Balance due in 30 days
Received cash from credit clients.
Paid cash for office cleaning services for month.
Purchased additional office chairs, balance due in 30 days.
Purchased office equipment and paid half in cash immediately;
the balance is due in 30 days.
Issued a check to pay salaries.
Performed services for cash.
Performed services on credit.
Collected accounts on receivable from charge customers.
Issued a check as partial payment on office chairs.
Paid duplicating company for photocopy work for month.
Paid for the monthly electric bill.
Wilson withdrew cash for personal expenses.
$150,000
$5,000
$15,720
$7,200
$1,150
$13,000
$36,000
$12,000
$6,500
$3,000
$4,800
$30,000
$8,400
$13,500
$15,000
$7,000
$2,400
$600
$1,120
$8,000
Student Name:
Class:
Problem 03.05A
John Wilson, Landscape Consultant
Trial Balance
June 30, 2013
Account Name
Cash
Accounts Receivable
Office Equipment
Office Furniture
Accounts Payable
John Wilson, Capital
John Wilson, Drawing
Fees Income
Copy Expense
Office Cleaning Expense
Rent Expense
Salaries Expense
Telephone Expense
Utilities Expense
TOTALS
Debits
Credits
John Wilson, Landscape Consultant
Income Statement
Month Ended June 30, 2013
Revenue
Fees Income
Expenses
Copy Expense
Office Cleaning Expense
Rent Expense
Salaries Expense
Telephone Expense
Utilities Expense
Net Income
John Wilson, Landscape Consultant
Statement of Owner's Equity
Month Ended June 30, 2013
John Wilson, Cap., June 1, 2013
Net Income for June
Less Withdrawals for June
Increase in Capital
John Wilson, Capital, June 30, 2013
John Wilson, Landscape Consultant
Balance Sheet
June 30, 2013
ASSETS
Cash
Accounts Receivable
Office Equipment
Office Furniture
Total Assets
LIABILITIES
Accounts Payable
OWNER'S EQUITY
John Wilson, Capital
Total Liabilities and
Owner's Equity
Given Data P03.05A:
JOHN WILSON, LANDSCAPE CONSULTANT
Transactions
a.
b.
c.
d.
e.
f.
g.
h.
i.
j.
k.
l.
m.
n.
o.
p.
q.
r.
s.
Wilson invested cash to start the business.
Paid for the current month's rent
Bought office furniture for cash.
Performed services for cash.
Paid for the monthly telephone bill.
Performed services on credit.
Purchased computer and copier:
Paid cash down
Balance due in 30 days
Received cash from credit clients.
Paid cash for office cleaning services for month.
Purchased additional office chairs, balance due in 30 days.
Purchased office equipment and paid half in cash immediately;
the balance is due in 30 days.
Issued a check to pay salaries.
Performed services for cash.
Performed services on credit.
Collected on accounts receivable from charge customers.
Issued a check as partial payment on office chairs.
Paid duplicating company for photocopy work for month.
Paid for the monthly electric bill.
Wilson withdrew cash for personal expenses.
$150,000
$5,000
$15,720
$7,200
$1,150
$13,000
$36,000
$12,000
$6,500
$3,000
$4,800
$30,000
$8,400
$13,500
$15,000
$7,000
$2,400
$600
$1,120
$8,000