Common stock 101 311 10000 10000 5 equipment cash

Common Stock ..........................
101
311
10,000
10,000
5 Equipment ..........................................
Cash ............................................
Accounts Payable ......................
157
101
201
12,000
4,000
8,000
25 Accounts Payable ..............................
Cash ............................................
201
101
2,400
2,400
30 Dividends ...........................................
Cash ............................................
332
101
500
500
EXERCISE 2-12 (Continued)
(b)
Cash No. 101
Date Explanation Ref. Debit Credit Balance
Sept. 1 J1 10,000 10,000
5 J1 4,000 6,000
25 J1 2,400 3,600
30 J1 500 3,100
Equipment No. 157
Date Explanation Ref. Debit Credit Balance
Sept. 5 J1 12,000 12,000
Accounts Payable No. 201
Date Explanation Ref. Debit Credit Balance
Sept. 5 J1 8,000 8,000
25 J1 2,400 5,600
2-11

Common Stock No. 311
Date Explanation Ref. Debit Credit Balance
Sept. 1 J1 10,000 10,000
Dividends No. 332
Date Explanation Ref. Debit Credit Balance
Sept. 30 J1 500 500
EXERCISE 2-14
TEMPUS FUGIT DELIVERY SERVICE
Trial Balance
July 31, 2014
Debit Cr
edit
Cash ($90,907 – Debit total without Cash
$69,340) .................................................................... $21,567
Accounts Receivable .................................................. 10,642
Prepaid Insurance ....................................................... 1,968
Equipment .................................................................... 49,360
Notes Payable .............................................................. $26,450
Accounts Payable ....................................................... 8,396
Salaries and Wages Payable ...................................... 815
Common Stock ............................................................ 40,000
Retained Earnings ....................................................... 4,636
Dividends ..................................................................... 700
Service Revenue ......................................................... 10,610
Salaries and Wages Expense ..................................... 4,428
Maintenance and Repairs Expense ........................... 961
Gasoline Expense ....................................................... 758
2-12

Utilities Expense ......................................................... 523
$90,907 $90,907
EXERCISE 2-15
Transactions 4, 5, and 7 are operating activities
Transaction 3 is an investing activity
Transactions 1, 2 and 6 are financing  activities.
2-13

PROBLEM 2-2A
(a)
J1
Date Account Titles and Explanation Ref. Debit Credit
May 1 Cash ......................................................... 101 20,000
Common Stock ............................... 311 20,000
(Issued shares of stock
for cash)
2 No entry—not a transaction.
3 Supplies .................................................. 126 1,500
Accounts Payable .......................... 201 1,500
(Purchased supplies on
account)
7 Rent Expense .......................................... 729 900
Cash ................................................ 101 900
(Paid office rent)
11 Accounts Receivable ............................. 112 2,800
Service Revenue ............................ 400 2,800
(Billed client for services
provided)
12 Cash ......................................................... 101 3,500
Unearned Service Revenue ........... 209 3,500
(Received cash for future
services)
17 Cash ......................................................... 101 1,200
Service Revenue ............................ 400 1,200
(Received cash for services
provided)
31 Salaries and Wages Expense ................ 726 2,000