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lina-review assignment1 - ACCT3212(Spring 2007 No 1 2.a b c...

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ACCT3212 (Spring 2007) No. 1. cash 10,000 common stock 10,000 2.a cash 30,000 note payable 30,000 b interest expense 1,500 cash 1,500 c interest expense 1,500 interest payable 1,500 3.a equipment 16,000 cash 16,000 b depreciation expense 5,000 accumulated depreciation expense 5,000 4.a prepaid rent 25,200 cash 25,200 b rent expense 6,300 prepaid rent 6,300 5.a supplies expense 1,500 cash 1,500 b supplies inventory 400 office expense 400 6.a inventory 170,000 accounts payable 170,000 b accounts payable 125,000 cash 125,000 7.a accounts receiable 310,000 sales revenue 310,000 cost of goods sold 180,000 inventory 180,000 b cash 230,000 accounts receiable 230,000 c bad debt expense allowance for uncollected account 8.a cash 6,000 unearned rent revenue 6,000
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ACCT3212 (Spring 2007) b unearned rent revenue 2,000 rent revenue 2,000 9.a salary payable 1,200 cash 1,200 b salary expense 13,200 cash 13,200 c salary expense 1,200 salary payable 1,200 10.a retained earning 7,000 cash 7,000 11. income tax expense cash 12.a rent revenue 2,000 sales revenue 310,000 retained earning 312,000 b Retained earnings 254,280 Cost of goods sold 180,000 Bad debt expense 6,000 Depreciation expense 5,000 Interest expense 3,000 Rent expense 6,300 Supplies expense 1,100 Salaries expense 14,400 Income tax expense 38,480
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