Page 73 Homework - Bobcat Inc Cash Accounts Payable Common...

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Unformatted text preview: Bobcat Inc Cash Accounts Payable Common Stock 42500 BB bb 36000 bb 75000 13750(1) 36000 3 11 20000 64800 2 1 41250 3 36000 Note Payable - Mike 35200 4 bb 10000 5 10000 10000 10 Sales 6 14000 2 108000 8 11000 9 1000 Note Payable - Truck 10 10000 5 20000 20000 11 12 7605 13 8000 Accounts Receivable Taxes Payable 35200 bb bb 7605 4 35200 7605 12 Interest Expense 43200 2 17 5730 1000 9 Inventory Rent Expense 24000 bb 12000 8 55000 1 2a 54000 Salary Expense Salary Payable 12000 6 bb 2000 Cost of Goods Sold 3000 7 7 3000 54000 2a 2000 6 Insurance Expense idend - Retained Earni 2500 15 bb 19445 8000 13 Land 40000 bb Tax Expense Prepaid Insurance Security Deposit 5730 17 3750 bb 2000 bb 15 2500 Furniture and Fixtures 2000 bb Depreciation Expense 4000 14 Prepaid Rent 400 16 1000 bb 8 1000 Accum Depreciation bb 400 14 4000 16 400 Truck 30000 5 Bobcat Inc 1Inventory 55,000 Cash 13,750 Accounts Payable 41,250 To record purchase of inventory 2Cash 64,800 Accounts Receivable 43,200 Sales 108,000 To record sales of product 2a Cost of Goods Sold 54,000 Inventory 54,000 To record cost of goods of sold product in #2 3Accounts Payable 36,000 Cash 36,000 To record payment of previous years Accounts Payable balance 4Accounts Receivable 35,200 Cash 35,200 To record receipt of payment of previous year's Accounts Receivable balance 5Truck 30,000 Cash 10,000 Note Payable - Truck 20,000 To record purchase of truck and its corresponding note 6Salary Expense 12,000 Salary Payable 2,000 Cash 14,000 To record payment of salary to worker 7Salary Expense 3,000 Salary Payable 3,000 To record wages owed to worker 8Rent Expense 12,000 Prepaid Rent 1,000 Cash 11,000 To record payment of rent 9Interest Expense 1,000 Cash 1,000 To record interest paid to Uncle Mike 10Cash 10,000 Note Payable - Uncle Mike 10,000 To record payment of note to Uncle Mike 11Common Stock 20,000 Cash 20,000 To record issuance of common stock 12Taxes Payable 7605 Cash 7605 To record payment of last year's taxes 13Cash 8,000 Retained Earnings 8,000 To record dividend paid to shareholders 14Depreciation Expense 4,000 Accumulated Depreciation 4,000 To record depreciation for the truck for the year....
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This note was uploaded on 09/12/2010 for the course ACCT 101 taught by Professor Drkirch during the Spring '10 term at Ohio University- Athens.

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Page 73 Homework - Bobcat Inc Cash Accounts Payable Common...

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