ch1_5_1_sol_5e

ch1_5_1_sol_5e - Practice Exam Chapters 1-5 (1) Solutions...

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Practice Exam Chapters 1-5 (1) Solutions Problem I a. Supplies expense ($3,700 - 1,800). .......................... 1,900 Supplies. ............................................................... 1,900 b. Unearned rent revenue ($7,200 x 1 / 2 )..................... 3,600 Rent revenue. ....................................................... 3,600 c. Interest expense ($40,000 x 12% x 8 / 12 )................. 3,200 Interest payable. ................................................... 3,200 d . Insurance expense ($4,800 x 3 /1 2 ).......................... 1,200 Prepaid insurance. ................................................ 1,200 e . Depreciation expense. .............................................. 13,000 Accumulated depreciation. .................................. 13,000
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Problem II December 31, 2009 Sales revenue. .................................................. 800,000 Income summary. ........................................ 800,000
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This note was uploaded on 10/28/2008 for the course ACCT 304 taught by Professor Ed during the Spring '08 term at Brookdale.

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ch1_5_1_sol_5e - Practice Exam Chapters 1-5 (1) Solutions...

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