Mgmt 200 Assignment Soln 1-24-11

Mgmt 200 Assignment Soln 1-24-11 - ) July 24, 2010...

Info iconThis preview shows pages 1–4. Sign up to view the full content.

View Full Document Right Arrow Icon
Management 200 – Introductory Financial Accounting– Spring 2011 Krannert School of Management - Purdue University Solutions to class assignment for January 24, 2011 Additional Perspectives 2-1 Requirement 1: July 1, 2012 Debit Credit Cash 10,000 Common Stock 10,000 ( Issue common stock to Suzie ) July 1, 2012 Cash 10,000 Common Stock 10,000 ( Issue common stock to Tony ) July 1, 2012 Prepaid Insurance 4,800 Cash 4,800 ( Purchase one-year insurance policy ) July 2, 2012 Legal Fees Expense 1,500 Cash 1,500 ( Pay legal fees for incorporation ) July 4, 2012 Supplies (Office) 1,800 Accounts Payable 1,800 ( Purchase office supplies on account ) July 7, 2012 Advertising Expense 300 Cash 300 ( Pay cash for advertising ) July 8, 2012 Equipment (Bikes) 12,000 Cash 12,000 ( Pay cash for mountain bikes )
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
July 15, 2012 Cash 2,000 Service Revenue 2,000 ( Receive cash for mountain bike clinic ) July 22, 2010 Cash 2,300 Service Revenue 2,300 ( Receive cash for mountain bike clinic
Background image of page 2
Background image of page 3

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Background image of page 4
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: ) July 24, 2010 Advertising Expense 700 Cash 700 ( Pay cash for advertising ) July 30, 2010 Cash 4,000 Unearned Revenue 4,000 ( Receive cash in advance for kayak clinic ) Requirement 2: Cash10,000 10,000 2,000 2,300 4,0004,800 1,500 300 12,000 7009,000 Prepaid Insurance4,8004,800 Supplies1,8001,800 Equipment12,00012,000 Accounts Payable1,8001,800 Unearned Revenue4,0004,000 Common Stock10,000 10,00020,000 Service Revenue2,000 2,3004,300 Legal Fees Expense1,5001,500 Advertising Expense300 7001,000 Requirement 3: Great Adventures, Inc. Trial Balance July 31, 2012 Account Title Debit Credit Cash $ 9,000 Prepaid insurance 4,800 Supplies 1,800 Equipment 12,000 Accounts payable $ 1,800 Unearned revenue 4,000 Common stock 20,000 Service revenue 4,300 Advertising expense 1,000 Legal Fees expense 1,500 Totals $30,100 $30,100...
View Full Document

This note was uploaded on 02/27/2012 for the course MGMT 200 taught by Professor Greigg during the Spring '08 term at Purdue University-West Lafayette.

Page1 / 4

Mgmt 200 Assignment Soln 1-24-11 - ) July 24, 2010...

This preview shows document pages 1 - 4. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online