Accounting 115 Chapter 2

Accounting 115 Chapter 2 - Accounting 4/2 Homework P 2.1 A...

Info iconThis preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: Accounting 4/2 Homework P 2.1 A Smokey Mountain Lodge Balance Sheet December 31, 2007 Assets Liabilities & Owners' Equity Cash $31,400 Liabilities: Accounts Receivable 10,600 Notes Payable $620,000 Land 425,000 Accounts Payable 54,800 Buildings 450,000 Salaries Payable 33,500 Interests Payable 12,000 Equipment 39,200 Owners' Equity Furnishings 58,700 Capital Stock 135,000 Snowmobiles 15,400 Retained Earnings 175,000 Total 1,030,300 Total 1,030,300 E 2.2 Dixie Transportation Service Balance Sheet February 28, 2007 Assets Liabilities & Owners' Equity Cash $69,000 Liabilities: Accounts Receivable 70,000 Notes Payable $288,000 Land 70,000 Accounts Payable 26,000 Buildings 80,000 Owners' Equity Automobiles 165,000 Retained Earnings 62,000 Supplies 14,000 Capital Stock 92,000 Total 468,000 Total 468,000 E 2.6 Transaction Assets = Liabilities + Owners' Equity (a) i i ne (b) NE* NE NE (c) D d NE (d) D d ne (e) I NE i (f) I I NE (g) i NE i (h) NE* NE NE (i) NE* NE NE E 2.13 Yarnell Company...
View Full Document

Page1 / 3

Accounting 115 Chapter 2 - Accounting 4/2 Homework P 2.1 A...

This preview shows document pages 1 - 3. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online