Chaper 2

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Unformatted text preview: 4f8bce4974f9d9bb7330af9241e588cfc45d2cdb.xlsx Page 1 of 3 2.5A A. HERE COMES THE CLOWNS! Balance Sheet June 30, 2009 ASSETS: LIABILITIES: Cash $89,220.00 Salaries Payable $9,750.00 Notes Receivable $9,500.00 Accounts Payable $26,100.00 Accounts Receivable $7,450.00 Notes Payable $180,000.00 Animals $189,060.00 Total $215,850.00 Cages $24,630.00 Costumes $31,500.00 Props and Equiment $89,580.00 EQUITY: Tents $6,300.00 Captial Stock $310,000.00 Trucks and Wagons $105,840.00 Retained Earnings $27,230.00 Total $553,080.00 Total $337,230.00 B. Dr. Cr. Tents Date Amount Date Amount 06/30/10 14,300.00 Balance (14,300.00) Dr. Cr. Retained Earnings Date Amount Date Amount 6/30/2010 14,300.00 Balance (14,300.00) 2.8A The Sweet Soda Shop A. Balance Sheet September 30, 2009 ASSETS: LIABILITIES: Cash $7,400.00 Accounts Payable $8,500.00 Accounts Receivable $1,250.00 Notes Payable $70,000.00 Land $55,000.00 Total $78,500.00 Building $45,500.00 Furniture and Fixtures $20,000.00 EQUITY: Supplies $3,440.00 Captial Stock $50,000.00 Total $132,590.00 Retained Earnings $4,090.00 Total $54,090.00 Credit the asset account Tents (to decrease it) and debit the Equity account Retained ...
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