UGBA102A_HW2_VictorGiner.pdf - UGBA 102A Introduction to Financial Accounting Victor Giner Ciaurriz Homework Chapter 2 E2 – 8 A Account name Debit

UGBA102A_HW2_VictorGiner.pdf - UGBA 102A Introduction to...

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UGBA 102A: Introduction to Financial Accounting Victor Giner Ciaurriz Homework Chapter 2 E2 – 8 Account name Debit Credit A Cash Notes payable 30,000 30,000 B Cash Common Stock Additional paid – in capital 15,000 50 14,950 C Building Cash Notes payable 115,000 23,000 92,000 D Equipment Cash Accounts payable 20,000 4,000 16,000 E Notes receivable Cash 1,000 F Accounts payable Cash 2,000 2,000 G Short – term investments Cash 10,000 10,000 E2 – 10 CASH Beg. 0 a) 60,000 36,500 b) 9,000 c) 2,500 e) 12,000 NOTES RECEIVABLE Beg. 0 c) 2500
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UGBA 102A: Introduction to Financial Accounting Victor Giner Ciaurriz 2500 EQUIPMENT Beg. 0 36,000 36,000 LAND Beg. 0 a) 35,000 35,000 NOTES PAYABLE e)12,000 Beg. 0 b)27,000 15,000 COMMON STOCK Beg. 0 a) 300 300 ADDITIONAL PAID – IN CAPITAL Beg. 0 a) 94,700 Assets $110,000 = Liabilities $15,000 + Stockholders’ Equity $ 95,000
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UGBA 102A: Introduction to Financial Accounting Victor Giner Ciaurriz In d), there is no transaction that needs to be recorded, due to the fact that the truck was purchased for personal use, and not by the company. Market value per share= $95,000 (total amount received) / 3,000 (number of shares issued) = $ 31,67 per share E2 – 20 a.
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