05-2B_9e - Problem 5-2B Enter the appropriate amount or...

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Unformatted text preview: Problem 5-2B Enter the appropriate amount or item in the shaded cells. An asterisk (*) will appear next to an incorrect amount in the outlined cells. 1. HOBBS' CO. Income Statement Name: Section: Revenues: Expenses: Total expenses Net income 2. HOBBS' CO. Statement of Retained Earnings Retained earnings, July 1, 2007 Retained earnings, June 30, 2008 3. HOBBS' CO. Balance Sheet Assets Current assets: Current liabilities: Liabilities Total current liabilities Long-term liabilities: Total current assets Property, plant, and equipment Total liabilities Stockholders' Equity Total property, plant, and equipment Total assets Total stockholders' equity Total liabilities and stockholders' equity 4. 2008 June 30 30 30 30 5 Cash ### * Sales Sales Tax Payable 5 Cost of Merchandise *Sold ### Merchandise Inventory ### * ### * ### * 12 Cash ### * Sales Discounts ### * Accounts Receivable - Runyan Co.### * * 14 Accounts Receivable*- American Express ### Sales ### * 14 Cost of Merchandise *Sold ### Merchandise Inventory ### * 16 Accounts Receivable*- Westpark Co. * ### Sales ### * 16 Cost of Merchandise *Sold ### Merchandise Inventory ### * 18 Sales Returns and Allowances ### * Accounts Receivable - Westpark Co. * * ### 18 Merchandise Inventory ### * Cost of Merchandise Sold ### * 19 Accounts Receivable*- DeGroot Co. * ### Sales ### * 19 Accounts Receivable*- DeGroot Co. * ### Cash ### * 18 Cost of Merchandise *Sold ### Merchandise Inventory ### * 26 Cash ### * Sales Discounts ### * Accounts Receivable - Westpark Co. * * ### 27 Cash ### Credit Card Expense ### Accounts Receivable - American Express ### 28 Cash ### * Sales Discounts ### * Accounts Receivable - DeGroot Co. * * ### 31 Cash * ### * Accounts Receivable - McNutt Co. ### * * 31 Transportation Out * * ### Cash * Sept. 3 Credit Card Expense* ### Cash 15 Sales Tax Payable * ### Cash ### * ### * ### * ...
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This note was uploaded on 10/22/2010 for the course BUSINESS BAIU09 taught by Professor Mr.ken during the Spring '10 term at American InterContinental University Dunwoody.

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