Accounting_Homework_4_Ans-2

Accounting_Homework_4_Ans-2 - ACC 310F: Foundations of...

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ACC 310F: Foundations of Accounting Homework #4 The answer sheet is due by 8am on Monday, October 20, 2008. Answers highlighted in blue color For the company you selected, prepare a journal entry for each transaction using the following accounts as needed: Cash Rental Revenue Buildings Misc. Revenue Property Rent Expense Note Payable Misc. Expense Capital Withdrawals Prepare and post your journal entries to ledger accounts for each year. Prepare an income statement, statement of owners’ equity and balance sheet for each year. Question 3 1 points Save What were your total revenues (i.e. rental revenue plus miscellaneous revenue) for year 1? Input your answer below using numeric characters without a dollar sign, comma or decimal point. 25 Question 4 1 points Save What were your total expenses (i.e. rental expense plus miscellaneous expense) for year 1? Input your answer below using numeric characters without a dollar sign, comma or decimal point. 60
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This note was uploaded on 08/31/2009 for the course ACC 310F taught by Professor Verduzco during the Fall '07 term at University of Texas at Austin.

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Accounting_Homework_4_Ans-2 - ACC 310F: Foundations of...

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