Homework Session 3 Spring 2010 - Session 3 Homework Spring...

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Session 3 Homework Spring 2010 AP2–3. General Journal Ref Account description Debit Credit a. Cash $ 1,020 Contributed Capital $ 1,020 b. Intangible Assets $ 3,400 Cash $ 3,400 c. Cash $ 4.020 Equipment $ 4,020 d. No entry: No transaction, no exchange e. Property, Plant and Equipment $ 11,230 Cash $ 1,830 Note Payable-Long Term 9,400 f. Cash $ 310 Other Assets $ 310 g. Short Term Investments $ 2,980 Cash $ 2,980 h. Retained Earnings $ 300 Cash $ 300
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Req. 1 and 2 Cash and Cash Equivalents Short-Term Investments Accounts Receivable Beg. 147,879 Beg. 0 Beg. 14,602 (a) 1,020 3,400 (b) (g) 2,980 (c) 4,020 1,830 (e) 2,980 14,602 (f) 310 2,980 (g) 300 (h) Inventories Beg. 181,884 144,719 181,884 Prepaid Expenses and Other Current Assets Property, Plant and Equipment Intangible s Beg. 38,064 Beg. 322,185 Beg. 92,500 (e) 11,230 4,020 (c) (b) 3,400 38,064 329,395 95,900 Other Assets Accounts Payable Accrued Expenses Payable Beg. 5,484 78,722 Beg. 68,677 Beg. 310 (f) 5,174 78,722 68,677 Long-Term Debt* Other Long-Term Liabilities Contributed Capital 202,908 Beg. 42,649 Beg. 79,374 Beg. 9,400 (e) 1,020 (a) 212,308 42,649 80,394 * Current portion is $40. Retained Earnings 330,268 Beg. (h) 300 329,968 Req. 3 No effect was recorded for (d) . Ordering goods involves no exchange or receipt of cash, goods, or services and thus is not a transaction.
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AP2–3. (continued) Req. 4 Ethan Allen Interiors, Inc. Balance Sheet At September 30, 2007 (in thousands of dollars) Assets Current assets Cash and cash equivalents $ 144,719 Short-term investments 2,980 Accounts receivable 14,602 Inventories 181,884 Prepaid expenses and other current assets 38,064 Total current assets
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This note was uploaded on 04/25/2010 for the course HADM 1121 taught by Professor Dittman during the Spring '07 term at Cornell University (Engineering School).

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Homework Session 3 Spring 2010 - Session 3 Homework Spring...

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