ACT_3391_Chp_3_Homework_Solutions

ACT_3391_Chp_3_Homework_Solutions - Intermediate Accounting...

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Intermediate Accounting I Amanda N. Paul, CPA, MBA Troy University
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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
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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
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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
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This note was uploaded on 03/30/2011 for the course ACT 4495 taught by Professor Burks during the Fall '10 term at Troy.

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ACT_3391_Chp_3_Homework_Solutions - Intermediate Accounting...

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