Acc102 hw 3 - 2007 Assets Cash Land COD Int Rec 1 Issued CS...

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Unformatted text preview: 2007 Assets Cash Land COD Int. Rec 1. Issued CS F 2,000 2. Invested I (1,000) 1,000 3. Recognized $ O 4. Collected A/R O 1,200 5. Salary Expense O 6. Salary Payable O (700) 7. Dividens F (100) 8. Interest I 20 1,400 - 1,000 20 2008 1. Issued CS F 3,000 2. Recognized $ 3. Collected A/R O 2,800 4. Salary Expense 5. Salary Payable O (1,350) 6. Dividens F (300) 7. Borrowed $ F 2,000 8. Interest Collected I 1,060 (1,000) (20) 9. Land I (6,000) 6,000 10. Note Payable 2,610 6,000 - - Income Statement for the year ended 12/31/07 12/31/2008 REV: Service Revenue 1,520 3,100 EXP: Expenses (1,000) (1,800) NET INCOME 520 1,300 Statemnet of changes for SE for the year ended 12/31/07 Beginning Common Stock - 2,000 Plus: Common Stock Issued 2,000 3,000 Ending Common Stock 2,000 5,000 Beginning Retained Earning - 520 Plus: Net Income 520...
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Acc102 hw 3 - 2007 Assets Cash Land COD Int Rec 1 Issued CS...

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