Chapter 03 Homework 2

Chapter 03 Homework 2 - Professor Gordon ACCT151 11...

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Professor Gordon ACCT151 11 September 2008 Chapter 3 Homework 2 E11,E12,P7,P8,D6 E11) Cash Investment by owners 2,000 Equipment account paid 1,350 Services provided 1,400 1,350 Accounts collected 250 3,650 Bal. 2,300 E12) $1,000 P8) Beverly Entertainment Enterprises Trial Balance October 31, 2008 Account Titles Debits Credits Cash $33,150 Accounts Receivable 750 Supplies 3,700 Buildings 90,000 Land 35,000 Equipment 5,000 Accounts Payable $ 6,200 Notes Payable 112,250 Capital Stock 40,000 Retained Earnings 8,900 $167,600 $167,600 Beverly Entertainment Enterprises Income Statement For the Month Ended October 31, 2008 Revenues: Ticket Sales $5,600 Concession Sales 7,700 Rent Revenue 1,500 Total Revenues $14,800 Expenses: Utilities $ 500 Wages and Salaries 2,400 Total Expenses 2,900 Net Income $11,900 Beverly Entertainment Enterprises Statement of Retained Earnings
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For the Month Ended October 31, 2008 Retained Earnings, beginning of month $ 0 Net Income 11,900 Dividends Paid (3,000) Retained Earnings, end of year
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Chapter 03 Homework 2 - Professor Gordon ACCT151 11...

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