Ch3 Hw - + OE 6/1 NE NE NE I NE I 6/2 I I 6/4 NE I D D NE D...

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Matthew Wong MGMT 161 Section 1 Ch 3 Hw Professor Mastrolia Problem 3.4A a. b. 6/1 Cash 60,000 Capital Stock 60,000 To record issuance of stock 6/2 Plane 220,000 Note Payable 180,000 Cash 40,000 To record purchase of plane 6/4 Operating Expense 2,500 Cash 2,500 To record rent office and hangar space 6/15 AR 8,320 Revenue 8,320 To record sales revenue 6/15 Salary Expense 5,880 Cash 5,880 To record paying employees 6/18 Operating Expense 1,890 Cash 1,890 To record paying for maintenance and repair services 6/25 Cash 4,910 AR 4,910 To record collection of AR 6/30 AR 16,450 Revenue 16,450 To record sales revenue 6/30 Salaries Expense 6,000 Cash 6,000 To record paying employees 6/30 Operating Expense 2,510 AP 2,510 To record buying fuel 6/30 dividend expense 2,000 Dividend payable 2,000 Transaction Revenue - Expenses = NI Asset s = Liabilities
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Unformatted text preview: + OE 6/1 NE NE NE I NE I 6/2 I I 6/4 NE I D D NE D 6/15 I I I I 6/15 I D D D 6/18 I D D D 6/25 NE NE NE NE NE NE 6/30 I I I I 6/30 I D D D 6/30 I D I D 6/30 D D c. d. Aerial Views Unadjusted Trial Balance June 30, 2009 Cash $8,640 AR 19,860 Plane 220,000 AP $2,510 Note Payable 180,000 Dividend Payable 2,000 Capital Stock 60,000 Sales Revenue 24,770 Operating Expense 6,900 Salary Expense 11,880 Dividend Expense 2,000 269,280 269,280 e. total assets: 248,500 total liabilities: 184,510 total stock holders equity: 63,990 no, this is an UNADJUSTED trial balance. The company must make accounting adjustments before it makes its balance sheet. Internet Case 3.5 25% increased...
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Ch3 Hw - + OE 6/1 NE NE NE I NE I 6/2 I I 6/4 NE I D D NE D...

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