SCh03

Fundamentals of Financial Accounting with Annual Report

Info iconThis preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
Student Name: Instructor Class: McGraw-Hill/Irwin Demonstration Case 3B Requirements 1 and 2 - Transaction Analysis and Journal Entries (a) dr Fuel Expense 90 Stockholders' cr Cash 90 Assets = Liabilities + Equity Cash - 90 Fuel Expense - 90 (b) dr Cash 1,600 Stockholders' cr Unearned Revenue 1,600 Assets = Liabilities + Equity Cash + 1,600 Unearned Revenue + 1,600 (c) dr Prepaid Insurance 300 Stockholders' cr Cash 300 Assets = Liabilities + Equity Prepaid Insurance + 300 Cash - 300 (d) dr Accounts Receivable 5,200 Stockholders' cr Mowing Revenue 5,200 Assets = Liabilities + Equity Accounts Receivable + 5,200 Mowing Revenue + 5,200 (e) dr Cash 3,500 Stockholders' cr Accounts Receivable 3,500 Assets = Liabilities + Equity Cash + 3,500 Accounts Receivable - 3,500 (f) dr Wages Expense 3,900 Stockholders' cr Cash 3,900 Assets = Liabilities + Equity Cash - 3,900 Wages Expense - 3,900 (g) dr Fuel Expense 320 Stockholders' cr Accounts Payable 320 Assets = Liabilities + Equity Accounts Payable + 320 Fuel Expense - 320 (h) dr Accounts Payable 100 Stockholders' cr Cash 100 Assets = Liabilities + Equity Cash - 100 Accounts Payable - 100
Background image of page 1

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

View Full DocumentRight Arrow Icon
Student Name: Instructor Class: McGraw-Hill/Irwin Demonstration Case 3B Requirement 3 - T-Accounts Assets = Liabilities + Stockholders' Equity Cash (A) Accounts Payable (L) Contributed Capital (SE) + - - + - + 3,800 Beg. bal. Beg. bal. 400 Beg. bal. 9,000 b) 1,600 90 a) h) 100 320 g) e) 3,500 300 c) 3,900 f) 100 h) 4,510 620 9,000 Correct! Correct! Correct! Accounts Receivable (A) Unearned Revenue (L) Retained Earnings (SE) + - - + - + 0 Beg. bal. Beg. bal. 0 Beg. bal. 0 d) 5,200 3,500 e) 1,600 b) 1,700 1,600 0 Correct! Correct! Correct! Note Receivable (A) Notes Payable (L) Mowing Revenue (R) + - - + - + 1,250 Beg. bal. Beg. bal. 4,000 Beg. bal. 0 5,200 d) 1,250 4,000 5,200 Correct! Correct! Correct! Prepaid Insurance (A)
Background image of page 2
Image of page 3
This is the end of the preview. Sign up to access the rest of the document.

This document was uploaded on 07/08/2011.

Page1 / 10

SCh03 - Student Name: Instructor Class: McGraw-Hill/Irwin...

This preview shows document pages 1 - 3. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online