Ch3BriefExercises solutions

Ch3BriefExercises solutions - SOLUTIONS TO BRIEF EXERCISES...

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Unformatted text preview: SOLUTIONS TO BRIEF EXERCISES BRIEF EXERCISE 3-1 May 1 Cash................................................................... 4,000 Common Stock.......................................... 4,000 3 Equipment......................................................... 1,100 Accounts Payable..................................... 1,100 13 Rent Expense.................................................... 400 Cash............................................................ 400 21 Accounts Receivable....................................... 500 Service Revenue....................................... 500 BRIEF EXERCISE 3-2 Aug. 2 Cash.................................................................... 12,000 Equipment.......................................................... 2,500 Agazzi, Capital............................................ 14,500 7 Supplies.............................................................. 500 Accounts Payable...................................... 500 12 Cash.................................................................... 1,300 Accounts Receivable......................................... 670 Service Revenue......................................... 1,970 BRIEF EXERCISE 3-2 (Continued) 15 Rent Expense..................................................... 600 Cash............................................................. 600 19 Supplies Expense.............................................. 230 Supplies ($500 $270)............................... 230 BRIEF EXERCISE 3-3 July 1 Prepaid Insurance..............................................Prepaid Insurance....
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This note was uploaded on 02/14/2011 for the course ACCT 251 taught by Professor Bouker during the Spring '11 term at Bergen Community College.

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Ch3BriefExercises solutions - SOLUTIONS TO BRIEF EXERCISES...

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