Problem 2-2B (Concluded)
Part 3
SOFTWORKS
Trial Balance
April 30
Debit Credit
Cash …………..……………………………..….….….. $ 17,262
Accounts receivable……………….…….….….... 9,350
Prepaid insurance…………………..……………... 5,000
Office equipment…………….……………….…….. 6,700
Computer equipment……………………………… 34,500
Building…………….…………………..………….…… 34,500
Land……………….…………….….….…..….….….… 22,000
Accounts payable……………….….….….…….... $ 580
Notes payable………………..………………………. 20,700
Problem 2-3B (90 minutes)
Part 1
Nov. 1 Cash………………….…………....……...………....101 30,000
Office Equipment……….………..………..…....163 15,000
Common Stock…………….………..……..307 45,000
Owner invested cash and equipment for stock.
8 Cash………………….…………....………………....101 3,400
Services Revenue…………………….……403 3,400
Received cash for services.
12 Accounts Receivable………………..………….106 10,200
Services Revenue…………………….……403 10,200
Billed client for completed work.
13 Accounts Payable…………..……..…………….201 3,100
Cash…..…..…..……………………………….101 3,100
Paid balance due on account.
19 Prepaid Insurance……………….….……..…....128 1,800
Cash…..…..…..……………………………….101 1,800
Paid premium for 24 months of insurance.
22 Cash………………..……………………………..…..101 5,200
Accounts Receivable………..……........106 5,200
Collected part of amount owed by client.
Financial and Managerial Accounting, 6th Edition
110
Problem 2-3B (Continued)
Part 2
Cash Acct. No. 101
Date Explanation PR Debit Credit Balance
Nov. 1 G1 30,000 30,000
2 G1 4,500 25,500
8 G1 3,400 28,900
13 G1 3,100 25,800
Accounts Receivable Acct. No. 106
Date Explanation PR Debit Credit Balance
Nov. 12 G1 10,200 10,200
Office Supplies Acct. No. 124
Date Explanation PR Debit Credit Balance
Prepaid Insurance Acct. No. 128
Date Explanation PR Debit Credit Balance
Nov. 19 G1 1,800 1,800
Prepaid Rent Acct. No. 131
Date Explanation PR Debit Credit Balance
Nov. 2 G1 4,500 4,500
Office Equipment Acct. No. 163
Date Explanation PR Debit Credit Balance
Nov. 1 G1 15,000 15,000
4 G1 2,500 17,500
Accounts Payable Acct. No. 201
Problem 2-3B (Continued)
Common Stock Acct. No. 307
Date Explanation PR Debit Credit Balance
Nov. 1 G1 45,000 45,000
Dividends Acct. No. 319
Date Explanation PR Debit Credit Balance
Nov. 28 G1 5,300 5,300
Services Revenue Acct. No. 403
Date Explanation PR Debit Credit Balance
Utilities Expense Acct. No. 690
Date Explanation PR Debit Credit Balance
Nov. 30 G1 831 831
Part 3
ZUCKER MANAGEMENT SERVICES
Trial Balance
November 30
Debit Credit
Cash……………………………………………..……….… $23,069
Accounts receivable………..….….….….……..…. 6,750
Office supplies…………………………………………. 849
Prepaid insurance…………………..….….…..….… 1,800
Prepaid rent…………………….….….……..….….…. 4,500
Problem 2-4B (90 minutes)
Part 1
a. Cash…………………………..…..….…..….….….101 35,000
Office Equipment………….…..….….….…….163 11,000
Common Stock…………………………....307 46,000
Owner invested cash and equipment for stock.
e. Office Equipment………….…..….….….….…163 1,200
Accounts Payable…..….…….….….....201 1,200
Purchased office equipment on account.
f. Salaries Expense………….….….….….…..…601 1,000
Cash…………………………………………...101 1,000
Paid assistant’s salary.
Problem 2-4B (Part 1 Continued)
i. Accounts Payable…………….………….…....201 500
Cash…………………………………………...101 500
Paid cash on account.
j. Office Equipment………….…..….….….….…163 3,400
Cash…………………………………………...101 3,400
Purchased equipment for cash.
n. Dividends………………………………….….…...319 1,100
Cash…………………………………………...101 1,100
Paid cash for dividends.
Problem 2-4B (Continued) Part 2
Cash No. 101 Land No. 172
Date PR Debit Credit Balance Date PR Debit Credit Balance
(a) 35,000 35,000 (b) 7,500 7,500
(b) 15,000 20,000
(f) 1,000 19,000 Accounts Payable No. 201
(l) 1,000 16,760
(m) 2,200 18,960 Notes Payable No. 250
(n) 1,100 17,860 Date PR Debit Credit Balance
(b) 32,500 32,500
Accounts Receivable No. 106
(c) 500 500
Dividends No. 319
Office Equipment No. 163 Date PR Debit Credit Balance
Date PR Debit Credit Balance (n) 1,100 1,100
(a) 11,000 11,000
(e) 1,200 12,200 Fees Earned No. 402
(j) 3,400 15,600 Date PR Debit Credit Balance
(g) 3,200 3,200
(k) 4,200 7,400
(l) 1,000 2,000
Building No. 170
Date PR Debit Credit Balance Utilities Expense No. 602
Problem 2-4B (Concluded)
Part 3
NUNCIO CONSULTING
Trial Balance
June 30
Debit Credit
Cash …………..………………………………..…..… $17,860
Accounts receivable……………………………. 2,000
Office supplies…………………………………….. 500
Office equipment…………….……..….….…..… 15,600
Automobiles………………………………….…….. 8,000
Building…………….………………………..….…... 40,000
Land……………….…………………..……….……... 7,500
Accounts payable……………….…………….…. $ 1,200
Notes payable………………..………….….…..… 32,500
Problem 2-5B (60 minutes)
Part 1
TAMA CO.
Balance Sheet
December 31, 2014
Assets Liabilities
Cash………….….….….….…...$ 20,000 Accounts payable………….…………………..……………..............$ 4,000
Accounts receivable......... 35,000
Office supplies…..….......... 8,000
TAMA CO.
Balance Sheet
December 31, 2015
Assets Liabilities
Cash………….….….….….…... $ 5,000 Accounts payable………..…………………..……………................$ 12,000
Accounts receivable......... 25,000 Note payable…………………………………….………….…. 250,000
Office supplies…..….......... 13,500 Total liabilities………….…………………..…………………..........262,000
Office equipment…………... 40,000
Part 2
Calculation of 2015 net income:
Equity, December 31, 2014………….……………….…..….….….…….… $127,500
Equity, December 31, 2015………….……………….…..….….….…….… (150,000)
Increase in equity during 2015…………..……………….…………….…. $ 22,500
Owner investment during 2015……………..……………………….…... $ 15,000
Part 3