Exercise 2 - transaction analysis template solution

Exercise 2 - transaction analysis template solution - 1,500...

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GB 112 Review Session F/S, GAAP and Transaction Analysis Exercise 2 Solution Assets Liabilities Stockholders' Equity Rev Accounts Prepaid Long-term Unearned Accounts Common Retained Exp Transaction Cash Barn Land Supplies Receivable Insurance Notes Pay Revenue Payable Stock Earnings Div a) Contributions from owners 50,000 100,000 60,000 2,000 212,000 b) Built barn -21,000 42,000 21,000 c) Provided animal care services 15,260 15,260 Rev d) Rented stables to customers 13,200 13,200 Rev e) Received cash in advance
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Unformatted text preview: 1,500 1,500 f) Purchased hay and feed 3,210 3,210 g) Paid for utilities-840-840 Exp h) Paid accounts payable-1,700-1,700 i) Received cash on account 1,000-1,000 j) Paid wages-4,000-4,000 exp k) Purchased insurance policy-3,600 3,600 l) Received electric bill 1,200-1,200 Exp m) Paid cash dividend-500-500 Div Totals 34,060 142,000 60,000 5,210 14,260 3,600 21,000 1,500 2,710 212,000 21,920...
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This note was uploaded on 02/24/2010 for the course GB 112 taught by Professor Osterheld during the Spring '10 term at Bentley.

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