Chapter 03 Homework 1 - Professor Gordon ACCT151 9...

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Professor Gordon ACCT151 9 September 2008 Chapter 3 Homework 1 E3, E6, E8, P9, P10 Assets Liabilitie s Stockholder’ s Equity 1 NE NE NE 2 I NE I 3 I NE I 4 D D NE 5 NE NE NE 6 I I NE 7 D D NE 8 D NE D 9 I NE I E3) E6) 1. Debit 2. Debit 3. Credit 4. Credit 5. Debit 6. Credit 7. Credit 8. Debit 9. Credit 10. Debit 11. Debit
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E8) Spencer Corporation Trial Balance December 31, 2008 Account Titles Debits Credits Accounts Receivable $ 5,325 Automobiles 9,200 Buildings 150,000 Cash 10,500 Equipment 85,000 Land 50,000 Office Supplies 500 Accounts Payable $ 7,650 Income Taxes Payable 2,500 Notes Payable 90,000 Capital Stock 100,000 Retained Earnings 110,025 Commissions Revenue 12,750 Interest Revenue 1,300 Commissions Expense 2,600 Heat, Light, and Water Expense 1,400 Income Tax Expense 1,700 Office Salaries Expenses 6,000 Dividends 2,000 $324,225 $324,225
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P9) Atkins Advertising Agency General Journal Page No. 1 Date Account Titles and Explanation Debit Credit Jan08 Cash 200,000 Capital Stock 200,000 Issued 100,000 shares of capital stock for cash. Jan08 Buildings 110,000 Land 40,000 Cash 150,000 Purchased office building.
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