E2-4, E2-6, E2-7

E2-4, E2-6, E2-7 - Accounting 340 Homework Solutions –...

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Unformatted text preview: Accounting 340 Homework Solutions – Spiceland 6 th Edition Exercises 2-4, 2-6 & 2-7 Exercise 2-4 1. Cash................................................................................... 500,000 Common stock................................................................ 500,000 2. Furniture and fixtures........................................................ 100,000 Cash................................................................................ 40,000 Note payable .................................................................. 60,000 3. Inventory........................................................................... 200,000 Accounts payable........................................................... 200,000 4. Accounts receivable.......................................................... 280,000 Sales revenue.................................................................. 280,000 Cost of goods sold............................................................. 140,000 Inventory........................................................................Inventory....
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This note was uploaded on 02/16/2012 for the course ACC 15324 taught by Professor Forsyth during the Spring '10 term at ASU.

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E2-4, E2-6, E2-7 - Accounting 340 Homework Solutions –...

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