03-02Ex_5e_s

Survey of Accounting (Available Titles Cengagenow)

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Exercise 3-2 Name: Section: Score: 40% *Since some answer boxes are correct when left blank, the beginning score is greater than 0%. Answers are entered in the cells with gray backgrounds. Cells with non-gray backgrounds are protected and cannot be edited. A red asterisk (*) will appear in the column to the right of an incorrect answer. Assets = Liabilities + Stockholders' Equity Prepaid Accounts Capital Retained Cash + Supplies + Insurance = Payable + Stock + Earnings a. b. Bal. c. Bal. d. Bal. e. Bal. f. Bal. a1. Bal. a2. Bal. Instructions Note: The entries from exercise 2-1 must be entered in rows 18 through 27 in order to determine the ending account balances (row 28). The exercise 2-2 entries will be made in rows 29-32.
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Exercise 3-2 Name: SOLUTION Section: Score: See student sheet for student's score Scoring: ON Answers are entered in the cells with gray backgrounds. Cells with non-gray backgrounds are protected and cannot be edited. A red asterisk (*) will appear in the column to the right of an incorrect answer.
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Unformatted text preview: Assets = Liabilities + Stockholders' Equity Prepaid Accounts Capital Retained Cash + Supplies + Insurance = Payable + Stock + Earnings a. $20,000 $20,000 b. (7,200) $7,200 Bal. 12,800 7,200 20,000 c. $1,200 $1,200 Bal. 12,800 1,200 7,200 1,200 20,000 d. 32,500 $32,500 Bal. 45,300 1,200 7,200 1,200 20,000 32,500 e. (12,350) (12,350) Bal. 32,950 1,200 7,200 1,200 20,000 20,150 f. (3,000) (3,000) Bal. 29,950 1,200 7,200 1,200 20,000 17,150 a1. (600) (600) Bal. 29,950 1,200 6,600 1,200 20,000 16,550 a2. (550) (550) Bal. $29,950 $650 $6,600 $1,200 $20,000 $16,000 Instructions Note: The entries from exercise 2-1 must be entered in rows 18 through 27 in order to determine the ending account balances (row 28). The exercise 2-2 entries will be made in rows 29-32....
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This note was uploaded on 11/04/2011 for the course ACC 121 taught by Professor Thomas during the Winter '08 term at Baker MI.

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03-02Ex_5e_s - Assets = Liabilities + Stockholders' Equity...

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