{[ promptMessage ]}

Bookmark it

{[ promptMessage ]}

ACT_3391_Chp_3_Homework_Solutions

ACT_3391_Chp_3_Homework_Solutions - Intermediate Accounting...

Info iconThis preview shows pages 1–6. Sign up to view the full content.

View Full Document Right Arrow Icon
Intermediate Accounting I Amanda N. Paul, CPA, MBA Troy University
Background image of page 1

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

View Full Document Right Arrow Icon
Chapter 3 EXERCISE 3-1 Apr. 2 Cash 32,000 Equipment 14,000 Beverly Crusher, Capital 46,000 2 No entry—not a transaction 3 Supplies 700 Accounts Payable 700 7 Rent Expense 600 Cash 600 11 Accounts Receivable 1,100 Service Revenue 1,100
Background image of page 2
EXERCISE 3-1 (Continued) 12 Cash 3,200 Unearned Service Revenue 3,200 17 Cash 2,300 Service Revenue 2,300 21 Insurance Expense 110 Cash 110 30 Salaries Expense 1,160 Cash 1,160 30 Supplies Expense 120 Supplies 120 30 Equipment 6,100 Beverly Crusher, Capital 6,100
Background image of page 3

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

View Full Document Right Arrow Icon
EXERCISE 3-2 Wanda Landowska Company Trial Balance April 30, 2007 Debit Credit Cash $ 4,800 Accounts Receivable 2,750 Prepaid Insurance ($700 + $100) 800 Equipment 8,000 Accounts Payable ($4,500 – $100) $ 4,400 Property Tax Payable 560 Wanda Landowska, Capital ($11,200 + $1,500) 12,700 Wanda Landowska, Drawing 1,500 Service Revenue 6,690 Salaries Expense 4,200 Advertising Expense ($1,100 + $300) 1,400 Property Tax Expense ($800 + $100) 900 $24,350 $24,350
Background image of page 4
EXERCISE 3-7 (a) Ending balance of supplies $700 Add: Adjusting entry 950 Deduct: Purchases 850 Beginning balance of supplies 800 (b) Total prepaid insurance $4,800 ($400 X 12) Amount used (6 X $400) 2,400
Background image of page 5

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

View Full Document Right Arrow Icon
Image of page 6
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}