Chapter 3 Homework Real

Chapter 3 Homework Real - Name Section Date Michael Samuels...

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Name Michael Samuels Problem 3-1A Section 051-17 Date 9/17/2007 Far and Wide Travel Agency Inc. (a) FAR AND WIDE TRAVEL AGENCY INC. Assets = Liabilities + Stockholders' Equity Trans- Accounts Office Accounts Common Retained action Cash + Receivable+ Supplies + Equipment = Payable + Stock + Earnings Explanation 1 1. $20,000 20,000 1 2 2 3 2. (900) (900) Rent Expense 3 4 19,100 (900) 4 5 3. (2,800) 2,800 5 6 16,300 2,800 6 7 4. 200 (200) Advertising Expense 7 8 200 (1,100) 8 9 5. (500) 500 9 10 15,800 10 11 6. 1,000 8,000 9,000 Service Revenue 11 12 16,800 8,000 7,900 12 13 7. (400) (400) Dividends 13 14 16,400 7,500 14 15 8. (200) (200) 15 16 16,200 0 16 17 9. (1,200) (1,200) Salary Expense 17 18 15,000 6,300 18 19 10. 8,000 (8,000) 19 20 23,000 0 20 21 21 22 23,000 0 500 2,800 0 20,000 6,300 22
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Name Michael Samuels Problem 3-1A Concluded Section 051-17 Date Far and Wide Travel Agency Inc. (b) Far and Wide Travel Agency Inc Income Statement For the Month Ended April 30th 1 Revenue 1 2 Service Revenue 9,000 2 3 3 4 Expenses 4 5 Rent Expense (900) 5 6 Advertising Expense
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Chapter 3 Homework Real - Name Section Date Michael Samuels...

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