chapter3 - BRIEF EXERCISE 3-3 Dec. 31 Advertising Supplies

Info iconThis preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: BRIEF EXERCISE 3-3 Dec. 31 Advertising Supplies Expense.............................................................. 7,000 Advertising Supplies.................................................................. 7,000 Advertising Supplies Advertising Supplies Expense 8,700 12/31 7,000 12/31 7,000 12/31 Bal. 1,700 BRIEF EXERCISE 3-4 Dec. 31 Depreciation ExpenseEquipment..................................................... 5,000 Accumulated Depreciation Equipment............................................................................... 5,000 Depr. ExpenseEquipment Accum. DepreciationEquipment 12/31 5,000 12/31 5,000 Balance Sheet: Equipment............................................................................................ $25,000 Less: Accumulated Depreciation....................................................... 5,000 $20,000 BRIEF EXERCISE 3-5 July 1 Prepaid Insurance.......................................................................... 15,000 Cash...................................................................................... 15,000 Dec. 31 Insurance Expense.......................................................................... 2,500 Prepaid Insurance................................................................ 2,500 Prepaid Insurance Insurance Expense 7/1 15,000 12/31 2,500 12/31 2,500 12/31 Bal. 12,500 BRIEF EXERCISE 3-6 July 1 Cash ....................................................................................15,000 Unearned Insurance Revenue............................................. 15,000 Dec. 31 Unearned Insurance Revenue........................................................ 2,500 Insurance Revenue............................................................... 2,500 Unearned Insurance Revenue Insurance Revenue 12/31 2,500 7/1 15,000 12/31 2,500 12/31 Bal. 12,500 BRIEF EXERCISE 3-7 1. Dec. 31Interest Expense...................................................................................... 300 Interest Payable............................................................... 300 2. 31 Accounts Receivable................................................................... 1,250 Service Revenue............................................................... 1,250 3. 31 Salaries Expense......................................................................... 900 Salaries Payable............................................................... 900 BRIEF EXERCISE 3-9 LUMAS COMPANY Income Statement For the Year Ended December 31, 2002 Revenues Service revenue....................................................................................... $38,400 Expenses Salaries expense...................................................................................... $13,000 Rent expense........................................................................................... 4,000 Insurance expense.................................................................................. 2,000 Supplies expense.....................................................................................Supplies expense....
View Full Document

This note was uploaded on 01/25/2011 for the course AC 215 taught by Professor Don during the Winter '10 term at City University of Seattle.

Page1 / 30

chapter3 - BRIEF EXERCISE 3-3 Dec. 31 Advertising Supplies

This preview shows document pages 1 - 3. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online