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07 - AP2 3 1 2 ASSETS Cash Beginning Balance = $81,856 4020...

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8/30/07 AP2 – 3 1. 2. 9/30/03 ASSETS Cash Beginning Balance = $81,856 + - 4020 3400 2980 1020 1830 310 300 End Balance = $78,696 Plant, Property & Equipment Beginning Balance = 289423 + - 4020 11230 End Balance = $296,633 Short Term Investments Beginning Balance = $0 + - 2980 End Balance = $2980 Intangibles Beginning Balance = $78939 + - 3400 End Balance = $82339 Other Assets
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Beginning Balance = $2944 + - 310 End Balance = $2639 LIABILITIES Long-Term Debt Beginning Balance = $10218 - + 9400 End Balance = $19618 Contributed Capital Beginning Balance = $76663 - + 1020 End Balance = $77683 Retained Earnings Beginning Balance = $461036 - + 300 End Balance = $460736 JOURNAL ENTRIES a. 9/30/03 Intangibles (+a) 3400 Cash (-a) 3400 b. 9/30/03 Cash (+a) 4020 Equipment (-a) 4020 c. 9/30/03 Short-Term Investments (+a) 2980 Cash (-a) 2980 d. 9/30/03 Cash (+a) 1020 Contributed Capital (-se) 1020 e. Not Applicable, no transaction took place f. 9/30/03 Equipment (+a) 11230 Cash (-a) 1830 Long Term Notes (+L) 9400 g. 9/30/03
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Cash (+a) 310 Other Assets (-a) 310 h. 9/30/03 Retained Earnings (+se) 300 Cash (-a) 300 3. By ordering $43,500 in wood and other raw materials for the manufacturing plants no transaction has taken place. The transaction will only take place once the company has accepted the offer and has shipped the wood and other raw materials.
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