E3-2 - N am e: SOLU T ION Section: Exercise 3-2 Enter the...

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Unformatted text preview: N am e: SOLU T ION Section: Exercise 3-2 Enter the appropriate am ount or form ula in the shaded cel s. An asterisk (*) wil appear in the colum n to the right of an incor ect am ount. Enter the data from Exercise 3-1 before entering the data from Exercise 3-2. Enter deductions as negative num bers. Asset s = Lia bilit ies + St o ckho lders' Equit y P repaid Ac ounts Capital Retained Cash + S upplies + Insurance = P ayable + S tock + Earnings a. Investment 15,0 0 0 15,0 0 0 b. P aid insurance-4 ,80 0 4 ,80 0 B alances 10 ,20 0 4 ,80 0 15,0 0 0 c. P urchased supplies 750 750 B alances 10 ,20 0 750 4 ,80 0 750 15,0 0 0 d. F ees earned 21,50 0 21,50 0 B alances 31,70 0 750 4 ,80 0 750 15,0 0 0 21,50 0 e. P aid expenses-10 ,20 0-10 ,20 0 B alances 21,50 0 750 4 ,80 0 750 15,0 0 0 11,30 0 f. P aid dividends-2,0 0 0-2,0 0 0 B alances 19,50 0 750 4 ,80 0 750 15,0 0 0 9,30 0 a1.-4 0 0-4 0 0 B alances 19,50 0 750 4 ,4 0 0 750 15,0 0 0 8,90 0 a2.-350-350 B alances, M arch 31 19,50 0 4 0 0 4 ,4 0 0...
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This note was uploaded on 04/07/2012 for the course ACC 101 taught by Professor Jeff during the Spring '12 term at Lansing.

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E3-2 - N am e: SOLU T ION Section: Exercise 3-2 Enter the...

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