2%2F7%2F17 ch 2 hw.xlsx - CH 2 P2-69 70 CH 3 M3-21 23 24...

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P2-69 A&B Balance Sheet Cash Asset + = Liabilities Transaction beginning bal $6,700 $14,800 $3,100 -950 cash 8800 cash -8800 accts rec -500 cash -500 accts payb 1600 cash 5000 cash 8100 accts rec -6000 cash -9800 cash 9800 vehicles -50 cash TOTALS $800 $23,900 $8,010 Common Stock $6,000 $12,400 $18,400 Stock issuance Dividends -6,000 -6,000 Net income _____ 4,290 4,290 $6,000 $10,690 $16,690 CH. 2: P2-69, 70 CH. 3: M3 -21, 23, 24 Noncash Asset 1. paid $950 cash for rent Received $8,800 cash on account. 3.$500 paid on accts. payable. $1,600 cash for services. $5,000 signed note. 5000 notes payable 6. Billed $8,100 for services. 7. Paid $4,000 for cash salary. invoice for utilities: $410. 9. Paid $6,000 dividend. 10. Paid $9,800 cash for vehicle. interest on note. For Month Ended January 31, 2015 Total expenses 5,410 Net income $4,290 For Month Ended January 31, 2015 Retained Earnings Stockholders’ Equity" Balance at January 1, 2015 Balance at January 31,
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Cash $800 $510 Accounts receivable 14,100 Notes payable 7,500 Equipment 9,800 Total liabilities 8,010 Total assets $24,700 Common stock 6,000 Retained earnings 10,690 Total liabilities and equity $24,700 P2-70 1 Rent expense ( 950 Cash (-A) 950 2 Cash (+A) 8,800 Accounts receivable (-A) 8,800 3 Accounts payab 500 Cash (-A) 500 4 Cash (+A) 1,600
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