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acc102 hw 1
Course: ACCT 201, Spring 2008School: SUNY Oswego
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29A problem p. 38-9 2008 Assets Cash Land = 28,000 30,000 20,000 35,000 25,000 (22,000) (30,000) 30,000 56,000 60,000 Liabilities 25,000 + 1. 2. 3. 4. 5. 2009 1. 2. 3. 4. 5. 6. Issued CS Services Borrowed Expenses Land 25,000 50,000 Issued CS Services Paid Li. Expenses Dividen Land 24,000 95,000 (15,000) (71,500) (3,000) 85,500 (13,000) 47,000 132,500 (15,000) 35,000 Income Statement for the year ended...
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29A problem p. 38-9 2008 Assets Cash Land = 28,000 30,000 20,000 35,000 25,000 (22,000) (30,000) 30,000 56,000 60,000 Liabilities 25,000 +
1. 2. 3. 4. 5. 2009 1. 2. 3. 4. 5. 6.
Issued CS Services Borrowed Expenses Land
25,000
50,000
Issued CS Services Paid Li. Expenses Dividen Land
24,000 95,000 (15,000) (71,500) (3,000) 85,500 (13,000) 47,000 132,500
(15,000)
35,000
Income Statement for the year ended 12/31/08 12/31/2009 REV: Service Revenue 35,000 95,000 EXP: Expenses 22,000 71,500 NET INCOME 13,000 23,500 Statemnet of changes for SE for the year ended 12/31/08 12/31/2009 Beginning Common Stock 20,000 40,000 Plus: Common Stock Issued 20,000 24,000 Ending Stock Common 40,000 64,000 Beginning Retained Earning 3,000 1 Plus: Net Income 13,000 Less: Dividens Ending Retained Earnings 26,000 D. Gained 16,500 E. 48,000 and 121,000
Balance Sheet
Assets: Total Assets Liabilities: Stockholder Equity:
Cash Land
26,000 23,500 (3,000) 46,500 --> c
Common Stock Retained Earning Total SE Total L + SE
Stockholders Equity Common Stock + 20,000 20,000
Retained Earning 13,000 35,000 (22,000)
40,000
26,000
24,000 95,000 (71,500) (3,000) (13,000) 33,500
64,000
December 31, 2008 56,000 60,000 116,000 50,000 40,000 26,000 66,000 116,000
December 31,2009 85,500 47,000 132,500 35,000 64,000 46,500 110,500 145,500
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