ACCT Sept 25

ACCT Sept 25 - ACCT 203 Professor Williams Page 83 Exercise...

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ACCT 203 Professor Williams Page 83 Exercise PB2-2 1. Total Debits = Total Credits Accounts Debit Credit (b) Issued stock shares (A) 5,300 Contributed capital (SE) 5,300 (d) Sold Long term Assets 3,000 (c) Purchased property, plant, and equipment (A) 11,800 Long-term assets (A) 11,800 (a) Cash (A) 10,400 Long-term Assets (A) 10,400 Cash Debit(+) Credit(-) Beginning Balance 174,500 5,300 10,400 3,000 11,800 Ending Balance 157,900 Accounts receivable Debit(+) Credit(-) 97,500 Inventories Debit(+) Credit(-) 263,200
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Other current assets Debit(+) Credit(-) 312,100 Property, plant, and equipment Debit(+) Credit(-) Beginning Balance 1,265,800 11,800 Ending Balance 1,277,600 Other long-term assets Debit(+) Credit(-) Beginning Balance 179,500 10,400 3,000 Ending Balance 186,900 Accounts payable Debit(-) Credit(+) 462,600 Short-term bank loans Debit(-) Credit(+) 74,900 Long-term debt Debit(-) Credit(+) 5,100 Other long-term liabilities Debit(-) Credit(+) 23,500 Contributed capital Debit(-) Credit(+) 930,300 Retained earnings Debit(-) Credit(+) 796,200
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4. E is not included in any of the Journal entries, nor is it included in the balance sheet
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This note was uploaded on 04/07/2008 for the course ACCT 200 taught by Professor Williams during the Fall '07 term at Marist.

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ACCT Sept 25 - ACCT 203 Professor Williams Page 83 Exercise...

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