Htoo_Htoo_P3-5A - 89 Name Chapter 3 Brief Exercises Section...

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Unformatted text preview: 89 Name Chapter 3 Brief Exercises Section Date Stockholders' #1 Assets Liabilities Equity 1 (a) Purchased supplies on account 1 2 (b) Received cash for providing a service 2 3 (c ) Expenses paid in cash 3 4 4 5 See next page for BE 3-2 and 3-3 5 6 6 7 7 8 8 9 9 10 10 11 #4 Debit Credit Normal 11 12 Effect Effect Balance 12 13 (a) Accounts payable 13 14 (b) Advertising expense 14 15 (c ) Service revenue 15 16 (d) Accounts receivable 16 17 (e) Retained earnings 17 18 (f) Dividends 18 19 19 20 #5 Acct. Debited Acct. Credited 20 21 June 1 Issued stock for $2,500 cash 21 22 2 Buy equipment on account for $1,100 22 23 3 Pay $500 to landlord for June rent 23 24 12 Bill Chas. Thon $700 for welding work done 24 25 25 26 26 27 #6 27 28 Date Account Titles Debit Credit 28 29 June 1 29 30 30 31 31 32 2 32 33 33 34 34 35 3 35 36 36 37 37 38 12 38 39 39 40 40 90 Name Chapter 3 Brief Exercises Continued Section Date #2 WALTERS CORP. Assets = Liabilities + Stockholders' Equity Trans- Accounts Accounts Bonds Common Retained action Cash + Receivable + Supplies = Payable + Payable + Stock + Earnings Explanation 1 1. 1 2 2 3 2. 3 4 4 5 3. 5 6 6 7 4. 7 8 8 #3 STARBUCKS Assets = Liabilities + Stockholders' Equity Property, Trans- Plant, and Accounts Common Retained action Cash + Inventory + Equipment = Payable + Stock + Earnings Explanation 1 1 2 1. 2 3 3 4 2. 4 5 5 6 3. 6 7 7 91 Name Chapter 3 Brief Exercises Continued Section Date #7 1 1. 1 2 2 3 3 4 2. 4 5 5 6 6 7 7 8 3. 8 9 9 10 10 11 #8 11 12 (a) Basic Analysis (b) Debit-Credit Analysis 12 13 Aug. 1 13 14 14 15 15 16 16 17 17 18 18 19 19 20 4 20 21 21 22 22 23 23 24 24 25 25 26 26 27 16 27 28 28 29 29 30 30 31 31 32 32 33 33 34 27 34 35 35 36 36 37 37 38 38 39 39 40 40 92 Name Chapter 3 Brief Exercises Continued Section Date #9 Date Account Titles Debit Credit 1 Aug. 1 1 2 2 3 3 4 4 5 4 5 6 6 7 7 8 8 9 16 9 10 10 11 11 12 12 13 27 13 14 14 15 15 16 16 #10 1 1 2 2 3 CASH SERVICE REVENUE 3 4 4 5 5 6 6 7 7 8 8 9 9 10 ACCOUNTS RECEIVABLE 10 11 11 12 12 13 13 14 14 15 15 16 16 17 17 93 Name Chapter 3 Brief Exercises Concluded Section Date #11 SHUMWAY COMPANY Trial Balance June 30, 2007 Debit Credit 1 1 2 2 3 3 4 4 5 5 6 6 7 7 8 8 9 9 10 10 11 11 12 12 #12 RICHARDSON COMPANY Trial Balance December 31, 2007 Debit Credit 1 1 2 2 3 3 4 4 5 5 6 6 7 7 8 8 9 9 10 10 11 11 12 12 13 13 94 Name Exercises 3-1 and 3-2 Section Date #1 1 1 1 2 2. 2 3 3. 3 4 4. 4 5 5. 5 6 6. 6 7 7. 7 8 8. 8 9 9. 9 #2 DOWNTOWN COMPANY Assets = Liabilities + Stockholders' Equity Trans- Accounts Office Accounts Common Retained action Cash + Receivable + Equipment = Payable + Stock + Earnings Explanation 1 1. 1 2 2. 2 3 3. 3 4 4. 4 5 5. 5 6 6. 6 7 7. 7 8 8. 8 9 9 95 Name Exercise 3-3 Section Date Cheng Corp....
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This document was uploaded on 11/02/2011 for the course ACCOUNTING ac 201 at Montgomery.

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Htoo_Htoo_P3-5A - 89 Name Chapter 3 Brief Exercises Section...

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