Mgmt 200 Fall 2009 Homework 2

Mgmt 200 Fall 2009 Homework 2 - LAST NAME FIRST NAME_PUID...

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Please write your name in BLOCK letters and in the format: Last name, First name. Management 200 – Introductory Financial Accounting– Fall 2009 Krannert School of Management - Purdue University Homework 2 – due Friday, September 25, 2009 IMPORTANT: This homework must be turned in on this sheet of pages (please staple). It is preferred that you print it out two-sided if at all possible. Assignments not completed on this form will not be graded. The grade for this assignment will be based on the correctness of a partial portion of the assignment – the full assignment will not be graded. Please print your name and PUID clearly and legibly in the spaces above. Bibliomaniac Corporation, a bookstore, provides the following post-closing trial balance as at December 31, 2007. A trial balance is a list of accounts, typically in financial statement order, with their ending debit or credit balances in the next two columns to provide a check on the equality of debits and credits. Bibliomaniac Corporation Post-closing trial balance, December 31, 2007 Dr $ Cr $ Cash 8,250 Accounts receivable 32,870 Supplies inventory 3,820 Merchandise inventory 142,260 Prepaid insurance 6,600 Land 178,000 Plant and equipment, at cost 510,000 Accumulated depreciation 204,000 Accounts payable 15,400 Wages payable 8,200 Interest payable 9,000 Accrued expenses 0 Income tax payable 4,200 Subscriptions received in advance 43,200 Note payable 400,000 Capital stock (32,000 shares outstanding) 80,000 Retained earnings 117,800 Sales revenue 0 Subscription revenue 0 Cost of goods sold 0 Wage expense 0 Selling, general, and administrative expense 0 Supplies expense 0 Insurance expense 0 Depreciation expense
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Mgmt 200 Fall 2009 Homework 2 - LAST NAME FIRST NAME_PUID...

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