Ch_3_Problems

Ch_3_Problems - SOLUTIONS TO PROBLEMS PROBLEM 3-1 (a)...

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Unformatted text preview: SOLUTIONS TO PROBLEMS PROBLEM 3-1 (a) (Explanations are omitted.) and (d) Cash Furniture and Equipment Sept. 1 20,000Sept. 4 680 Sept. 2 17,280 8 1,690 5 942 20 980 10 430 18 3,600 Shigeki Muruyama, Capital 19 3,000 Sept. 19 3,000Sept. 1 20,000 30 1,400 30 5,707 30 85 Bal. 30 22,707 30Bal 12,533 Accounts Receivable Sept. 14 5,120Sept. 20 980 25 2,110 Accounts Payable Bal. 30 6,250 Sept. 18 3,600Sept. 2 17,280 Bal. 30 13,680 Rent Expense Sept. 4 680 Sept. 30 680 Supplies on Hand Service Revenue Sept. 5 942Sept. 30 330 Sept. 30 8,920Sept. 8 1,690 Bal. 30 612 14 5,120 25 2,110 8,920 8,920 Miscellaneous Office Expense Accumulated Depreciation Sept. 10 430Sept. 30 515 Sept. 30 288 30 85 515 515 Office Salaries Expense Sept. 30 1,400 Sept. 30 1,400 Supplies Expense Sept. 30 330 Sept. 30 330 PROBLEM 3-1 (Continued) Depreciation Expense Income Summary Sept. 30 288 Sept. 30 288 Sept. 30 680 Sept. 30 8,920 30 515 30 1,400 30 330 30 288 30 Inc. 5,707 8,920 8,920 (b) Shigeki Muruyama, D.D.S. Trial Balance September 30 Debit Credit Cash..................................................................................... .............................................................................................. 12,533 Accounts Receivable.......................................................... 6,250 Supplies on Hand............................................................... 612 Furniture and Equipment................................................... 17,280 Accumulated Depreciation................................................ 288 Accounts Payable............................................................... 13,680 Shigeki Muruyama, Capital................................................ 17,000 Service Revenue................................................................. 8,920 Rent Expense...................................................................... 680 Miscellaneous Office Expense.......................................... 515 Office Salaries Expense..................................................... 1,400 Supplies Expense............................................................... 330 Depreciation Expense........................................................ 288 Totals........................................................................ 39,888 39,888 PROBLEM 3-1 (Continued) (c) Shigeki Muruyama, D.D.S. Income Statement For the Month of September Service revenue............................................................... $8,920 Expenses: Office salaries expense.......................................... $1,400 Rent expense.......................................................... 680 Supplies expense................................................... 330 Depreciation expense............................................ 288 Miscellaneous office expense............................... 515 Total expenses............................................... 3,213 Net income........................................................................Net income....
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Ch_3_Problems - SOLUTIONS TO PROBLEMS PROBLEM 3-1 (a)...

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