Ch+2+Pr+6 - Problem 2-6 Requirement 2 a.

Info iconThis preview shows pages 1–5. Sign up to view the full content.

View Full Document Right Arrow Icon

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: Problem 2-6 Requirement 2 a. Cash........................................................................... 70,000 Accounts receivable .................................................. 30,000 Service revenue...................................................... 100,000 b. Cash........................................................................... 27,300 Accounts receivable............................................... 27,300 c. Cash........................................................................... 10,000 Common stock....................................................... 10,000 d. Salaries expense ........................................................ 41,000 Salaries payable ........................................................ 9,000 Cash....................................................................... 50,000 e. Miscellaneous expenses............................................. 24,000 Cash....................................................................... 24,000 f. Equipment.................................................................. 15,000 Cash....................................................................... 15,000 g. Retained earnings ..................................................... 2,500 Cash....................................................................... 2,500 Problem 2-6 (continued) Requirements 1 and 3 BALANCE SHEET ACCOUNTS Cash Accounts receivable _____________________________ _________________________ 1/1 Bal. 30,000 1/1 Bal. 15,000 a. 70,000 50,000 d. a. 30,000 27,300 b. b. 27,300 24,000 e. c. 10,000 15,000 f. 2,500 g. ________________ ________________ 12/31 Bal. 45,800 12/31 Bal. 17,700 Equipment Allow. for uncollectible accounts _____________________________ _________________________ 1/1 Bal. 20,000 500 1/1 Bal. f. 15,000 ________________ ________________ 12/31 Bal. 35,000 500 12/31 Bal. Accumulated depreciation Salaries payable _____________________________ _________________________ 6,000 1/1 Bal. 9,000 1/1 Bal. d. 9,000 ________________ ________________ 6,000 12/31 Bal. 12/31 Bal. Common stock Retained earnings _____________________________ _________________________ 40,000 1/1 Bal. 9,500 1/1 Bal. 10,000 c. g. 2,500 ________________ ________________ 50,000 12/31 Bal. 7,000 12/31 Bal. Problem 2-6 (continued) INCOME STATEMENT ACCOUNTS Service revenue Miscellaneous expenses _____________________________ _________________________ 1/1 Bal. 1/1 Bal....
View Full Document

This note was uploaded on 11/16/2009 for the course ACCOUNTING 3351 taught by Professor Malkie during the Spring '09 term at ITT Tech Flint.

Page1 / 15

Ch+2+Pr+6 - Problem 2-6 Requirement 2 a.

This preview shows document pages 1 - 5. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online