ORIE 3150 Homework #2 Fall 2011 - ORIE 3150 Homework #2 Due...

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Unformatted text preview: ORIE 3150 Homework #2 Due September 14, 2011 1. E3-8 from the textbook 2. E3-13 3. P3-5A (no explanations are needed) 4. E4-9 5. E4-14 6. Prepare the required end-of-period adjusting entries for each case a) The Thomas Company began the year with a $3,000 balance in the Office Supplies account. During the year, $8,500 of additional office supplies were purchased. A physical count of office supplies on hand at the end of the year revealed that $8,300 worth of office supplies had been used during the year. No adjusting entry has been made until year end, December 31 st . b) Yates Realty is in the business of renting several apartment buildings and prepares monthly financial statements. It has been determined that 2 tenants in $800 per month apartments and one tenant in the $1,000 per month apartment had not paid their December rent as of December 31 st . The end of the accounting period is December 31 st . 7. The adjusted trial balance shown below is for the end of the fiscal year: STITCH COMPANY Trial Balance December 31, 2008 ______________________________________________________________________________ Debit Credit Cash ......................................................................................................... $ 10,900 Accounts Receivable ...............................................................................Accounts Receivable ....
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ORIE 3150 Homework #2 Fall 2011 - ORIE 3150 Homework #2 Due...

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