Chapter 4 -hw 4 - 86200 $1,069,560 $1,069,560 PE4-17)...

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PE16 (1) a) Debit interest receivable by 7560, credit revenue by 7560 b) Debit unearned revenue by 75000, credit revenue by 75000 c) Debit utilities expense by 7200, credit prepaid rent by 7200 d) Debit accrual expense by 22000 Credit wages payable by 22000 (2) Debit Credit cash $68,000 notes payable 126000 prepaid rent 208800 building 290000 accounts payable $172,000 unearned fee revenue 195000 interest receivable 7560 capital stock 150000 retained earnings 100000 dividends 17000 fee revenue 452560 wages expense 266000 utilities expense
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Unformatted text preview: 86200 $1,069,560 $1,069,560 PE4-17) Income Statement Revenue 452560 Expenses Wages expense 266000 Utilities expense 86200 Dividends 17000 Net Income 83360 PE4-18) Balance sheet Assets Liabilities and Owners' Equity Cash 68000 Liabilites prepaid rent 208800 notes payable 126000 building 290000 accounts payable 172000 Interest receivable 7560 Unearned revenue 195000 Equity Net Income 83360 capital stock 150000 retained earnings 100000 574360 574360...
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This note was uploaded on 10/13/2011 for the course ACC 230 taught by Professor Staff during the Summer '10 term at Chandler-Gilbert Community College.

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