CH3 - 7 and 8 ignore these two we will cover this in the...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
Class Demonstration Problems – Chapter 3 – Answers 1. A. I B. D C. I D. I E. I F. D G. D H. I I. I K. I L. D M. D N. D O. D P. I Q. I R. I S. I T. I U. I 2. A. I B. D C. D D. I E. I F. I G. I H. I I. I J. D K. D L. I M. I N. D O. D 3. 1. accounts receivable 16,000 Sales 16,000 2. sales returns and allowances 2,000 Accounts receivable 2,000
Background image of page 1

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

View Full DocumentRight Arrow Icon
3. cash 14,000 Accounts receivable 14,000 4. supplies 3500 Accounts payable 3500 5. accounts payable 3500 Cash 3440 Purchase discounts 600 6. equipment 50000 Cash 10000 Notes payable 40000
Background image of page 2
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: 7 and 8 ignore these two we will cover this in the notes payable chapter 9. inventory 120000 Accounts payable 120000 10. cash 8000 Unearned revenue 8000 11. pp rent 14400 Cash 14400 12. supplies 150 Cash 150 13. dividends 20000 Cash 20000 4. There will be varied answers for these. Please let me know if you question any of your answers. Just think through a journal entry. 5. A. T B. T C. F D. F...
View Full Document

Page1 / 2

CH3 - 7 and 8 ignore these two we will cover this in the...

This preview shows document pages 1 - 2. Sign up to view the full document.

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