project1 - No. 1. 2.a b c 3.a b 4.a b 5.a b 6.a b 7.a b c...

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Prepared by cjan 11/29/2009 Page 1 No. Cash Accounts Payable Common Stock 1. Cash 10,000 10,000 1,250 130,000 10,000 Common stock 10,000 25,000 13,000 125,000 285,800 196,000 2.a Cash 25,000 250,000 16,800 290,800 206,000 Notes payable 25,000 6,000 2,500 b Interest expense 1,250 100,000 125,000 Notes Payable Retained Earnings Cash 1,250 1,200 25,000 5,000 312,000 c Interest expense 1,250 13,200 191,400 117,000 Interest payable 1,250 10,000 Interest Payable 232,600 3.a Equipment-computer 13,000 5,000 1,250 Cash 13,000 203,050 b Depreciation expense 4,000 Salaries Payable Accumulated depreciation 4,000 Accounts Receivable 1,200 1,200 4.a Prepaid rent 16,800 310,000 250,000 1,200 Cash 16,800 340,000 1,200 b Rent expense 4,200 400,000 Prepaid rent 4,200 Unearned Rent Revenue 5.a Supplies expense 2,500 Allowance for Uncollectible Accounts 2,000 6,000 Cash 2,500 4,000 4,000 b Supplies inventory 200 9,000 Supplies expense 200 13,000 Sales Revenue Rent Revenue 6.a Inventory 130,000 310,000 310,000 2,000 2,000 Accounts payable 130,000 Inventory 0 0 b Accounts payable 125,000 130,000 150,000 Cash 125,000 59,000 Cost of Goods Sold
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project1 - No. 1. 2.a b c 3.a b 4.a b 5.a b 6.a b 7.a b c...

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