Tutorial Question 4 - Accounting 2301 Group: Luu Quoc Tuan...

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Unformatted text preview: Accounting 2301 Group: Luu Quoc Tuan Instructor: Dr. Nguyen The Loc Tran Ngoc Luan T.A: MBA Hoang Duc Minh Le Nguyen Thanh Thanh Le Ho Cam Tu TUTUORIAL QUESTIONS Chapter 4 Completing accounting cycle E 4-29 : 1) August 1, 2009 : Cash ..4,800 Unearned rent ..........................................................................................4,800 Dec 31, 2009: Unearned rent .......................................................................2,000 Revenue ...........................................................................................................2,000 2) March1, 2009: Prepaid insurance expense ............................................................3,000 Cash ..3,000 Dec 31,2009 Insurance expense ........................................................................1,250 Prepaid insurance expense ......................................................................1,250 3) Dec 31, Salaries expense .........................................................................11,000 Account Payable ...................................................................................11,000 4) Jun 1,2009: Note receivable .............................................................................1,000 Revenue ................................................................................................1,000 Dec 31, 2009: Interest Receivable ............................................................................35 Interest Revenue ...................................................................................................35 5) Dec20,2009 : Cash ...................................................................................................2,500 Unearned revenue ...................................................................................2,500 Dec 31,2009: Unearned revenue ..............................................................................1,875 Revenue ..................................................................................................1,875 6) Sep 1 : Cash .........................................................................................................500 Prepaid supplies ....................................................................................500 Dec 31: Supplies expense ...................................................................................375 Prepaid supplies.......................................................................................375 1 Accounting 2301 Group: Luu Quoc Tuan Instructor: Dr. Nguyen The Loc Tran Ngoc Luan T.A: MBA Hoang Duc Minh Le Nguyen Thanh Thanh Le Ho Cam Tu E 4-38 : Real and Nominal Accounts 1) Cash Real account 2) Sales revenue Nominal account 3) Account receivable Real account 4) Cost of goods sold Nominal account 5) Prepaid insurance Real account 6) Capital stock Real account 7) Retained earnings Real account 8) Insurance expense Nominal account 9) Salaries payable Real account...
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This note was uploaded on 06/20/2011 for the course ECON 123 taught by Professor Mrews during the Spring '11 term at Korea Advanced Institute of Science and Technology.

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Tutorial Question 4 - Accounting 2301 Group: Luu Quoc Tuan...

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