Answers to Practice Problems for Chapter 3 and 4

Answers to Practice Problems for Chapter 3 and 4 - 100,000...

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The University of Texas at Austin McCombs School of Business, Business Foundations Program ACC 310F: Foundations of Accounting Answers to Practice Problems for Chapter 3 and 4 1. Super Chair King 1. Cash 50,000 Paid in capital 50,000 2. Cash 189,000 Notes payable 189,000 3. Building 189,000 Cash 189,000 4. Inventory 42,000 Accounts Payable 42,000 5. Accounts Receivable 75,000 Revenue 75,000 COGS 35,000 Inventory 35,000 6. Cash 18,750 Accounts Receivable 18,750 7. Accounts Payable 27,300 Cash 27,300 8. Cash
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Unformatted text preview: 100,000 Paid in Capital 100,000 9. Advertising expense 5,000 Cash 5,000 10. Accounts Payable 14,700 Cash 14,700 Inventory 50,000 Cash 50,000 11. Cash 96,000 Revenue 96,000 Cost of Goods Sold 45,000 Inventory 45,000 Page 1 12. Dividends 5,000 Cash 5,000 13. Wage Expense 5,600 Cash 5,600 14. Interest expense 4,000 Note Payable 1,000 Cash 5,000 2. The J. Scott company had the following transactions: Page 2 Page 3...
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Answers to Practice Problems for Chapter 3 and 4 - 100,000...

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