acc chapt2

# acc chapt2 - Computers Dr Cr 4,300 480 4,780 Office...

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Chapter 2 Problem 1 Assets Liabilities Common stock R/E Dividends Revenues Expenses Dr Cr Dr Cr Dr Cr Dr Cr Cash A/P 15,000 5,000 3,900 8,700 Supplies expenses Dr Cr Dr Cr Dr Cr 6,880 1,950 3,600 A/R Notes payable Utilities expenses Dr Cr Dr Cr Dr Cr 5,060 10,000 210 Supplies Wages expenses Dr Cr Dr Cr 3,250 4,400 Equipment Dr Cr 13,350 Dr: 5,060+3,250+13,350+3,900+3,600+210+4,400=\$33,770 Cr: 1,950+10,000+15,000+5,000+8,700 = \$40,650 Cash : 40,650-33,700= \$6,880

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Problem 2 Dr Cr B 2 11 C 12 1 D 3 7 E 1 11 F 5 7 G 13 7 H 7 5 I 1 11 J 7 1 K No entry No entry L 13 1 M 6 1 N 10 1
Problem 3 I. and II. Assets Liabilities Dividends Revenues Expenses Cash A/P Dr Cr Dr Cr Dr Cr Dr Cr Salaries expenses 5,700 260 330 300 13,600 Dr Cr 1,080 190 480 1,740 440 330 380 15,340 40 330 1,190 Utilities expenses 90 -330 Dr Cr 440 860 90 300 6,780 1,650 Rent expense -1,650 Dr Cr 5,130 260 A/R Repair expenses Dr Cr Dr Cr 1,740 1,080 40 -1,080 660 Advertising expenses Dr Cr Supplies 190 Dr Cr 330

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Unformatted text preview: Computers Dr Cr 4,300 480 4,780 Office equipment Dr Cr 3,600 380 3,980 III. Best Secreterial training, Inc. Trial Balance January 15, 20x8 Dr Cr Cash 5,130 A/R 660 Supplies 330 Computers 4,780 Office equipment 3,980 A/P 860 Dividend 300 Revenues 15,340 Wages expenses 440 Rent expenses 260 Advertissing expenses 190 Repair expenses 40 Utilities expenses 90 \$16,200 \$16,200 IV. The revenue were \$1,740 and \$1,080 of the revenues have been received in cash. We can see problems ab cash flow arising from this situation. Indeed, the timing of cash flows is critical to a company's ability to maintain adequate liquidity so that it can pay its bills on time. bout...
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acc chapt2 - Computers Dr Cr 4,300 480 4,780 Office...

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