Accounting 1-29 - Student Name: Ty Warren Class: Accounting...

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Student Name: Ty Warren Class: Accounting 2010 Problem 01-29A Requirement a. : JOHNSON CONSULTING Accounting Equation for 2008 Assets = Liabilities + Stockholders' Equity Notes Common Retained Acct. Event Cash Land = Payable + Stock Earnings Title/RE 1. Issued Stock 20,000 20,000 NA 2. Revenue 35,000 35,000 Svc. Rev. 3. Loan 25,000 25,000 NA 4. Paid Expenses (22,000) (22,000) Expense 5. Purchased Land (30,000) 30,000 NA Totals 28,000 30,000 25,000 20,000 13,000 Correct! Correct! Correct! Correct! Correct! JOHNSON CONSULTING Accounting Equation for 2009 Assets = Liabilities + Stockholders' Equity Notes Common Retained Acct. Event Cash Land = Payable + Stock Earnings Title/RE Beginning Balance 28,000 30,000 25,000 20,000 13,000 1. Issued Stock 24,000 24,000 NA 2. Revenue 95,000 95,000 Svc. Rev. 3. Paid Loan (15,000) (15,000) NA 4. Paid Expenses (71,500) (71,500) Expense 5. Paid Dividends (3,000) (3,000) Dividends 6. Land Value NA Totals 57,500 30,000 10,000 44,000 33,500 Correct! Correct! Correct!
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This note was uploaded on 07/22/2010 for the course ACCOUNTING 2010 taught by Professor Sign during the Spring '10 term at S. Alabama.

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Accounting 1-29 - Student Name: Ty Warren Class: Accounting...

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