Chap 2 homework - E2-4 1 Cash Common Stock(100000 shares 2...

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E2-4 1 Cash $500,000 Common Stock(100000 shares) $500,000 Furniture and Fixtures $100,000 2 Cash $40,000 Note Payable $60,000 3 Purchases $200,000 Account Payable $200,000 4 Accounts Receivable $280,000 Sales Revenue $280,000 Cost Of Goods Sold $140,000 Inventory $140,000 5 Rent Expense $6,000 Cash $6,000 6 Prepaid Insurance Expense $3,000 Cash $3,000 7 Account Payable $120,000 Cash $120,000 8 Cash $55,000 Accounts Receivable $55,000 9 Dividends $5,000 Cash $5,000 10 Furniture and fixtures-deprec. $2,000 Accumulated dep $2,000 11 Insurance expense $250 Prepaid Insurance $250
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E2-8 1 Insurance Expense $2,000 Prepaid Insurance $2,000 2 Depreciation Expense $15,000 Accumulated Depr. $15,000 3 Salaries Expense $18,000 Cash $18,000 4 Interest Expense $4,000 Interest Payable $4,000 5 Unearned Rent Revenue $1,500 Rent Revenue $1,500 E2-9 1 Interest Expense $1,800 Interest Payable $1,800 2 Rent Expense $4,000 Prepaid Rent Expense $4,000 3 Unearned rent revenue $2,400 Rent Revenue $2,400 4 Depreciation $4,500 Accumulated Deprec. $4,500 5 Compensation Expense $8,000 Cash $8,000 6 Supplies Expense $5,250 Supplies $5,250
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E2-15 Adjusting entries @ Dec 31 2013 1-Feb Cash $12,000 Interest Expense $1,000 Note Payable $12,000 Interest Payable $1,000 1-Apr Prepaid Insurance Expense $3,600
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