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
Fees earned………………………………..….……… 19,050
Wages expense……………………….….…………. 3,600
Computer rental expense…………………….…. 580
Advertising expense………………………………. 750
Repairs expense…………….………….………….. 608
Totals……………………………………………………. $141,080 $141 ,080
Problem 2-3B (90 minutes)
Part 1
Nov. 1 Cash………….………..………......…....…....…....101 30,000
Office Equipment………....…....…....…....…..163 15,000
M. Zucker, Capital……..………......….....301 45,000
Owner invested cash and equipment.
2 Prepaid Rent…………………………….………….131 4,500
Cash..…..….…..………………………………101 4,500
Prepaid six months’ rent.
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.
29 Office Supplies……..………………..…....….....124 249
Accounts Payable..…....…....…...........201 249
Purchased supplies on account.
30 Utilities Expense………....…....…....…....…...690 831
Cash..…..….…..………………………………101 831
Paid monthly utility bill.
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
28 G1 5,300 23,900
30 G1 831 23,069
Accounts Receivable Acct. No. 106
Date Explanation PR Debit Credit Balance
Nov. 12 G1 10,200 10,200
22 G1 5,200 5,000
24 G1 1,750 6,750
Office Supplies Acct. No. 124
Date Explanation PR Debit Credit Balance
Nov. 4 G1 600 600
29 G1 249 849
Prepaid Insurance Acct. No. 128
Date Explanation PR Debit Credit Balance
4 G1 2,500 17,500
Accounts Payable Acct. No. 201
Date Explanation PR Debit Credit Balance
Nov. 4 G1 3,100 3,100
13 G1 3,100 0
29 G1 249 249
Problem 2-3B (Continued)
M. Zucker, Capital Acct. No. 301
12 G1 10,200 13,600
24 G1 1,750 15,350
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
Totals……………………………………….……………... $60 ,599 $60 ,599
Problem 2-4B (90 minutes)
Part 1
a. Cash………………………………….……………...101 35,000
Cash……………………………………………101 15,000
Notes Payable……………………..……...250 32,500
Purchased land and building with cash and
note payable.
c. Office Supplies…………………………….….…108 500
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.
Paid cash for utilities.
Problem 2-4B (Part 1 Continued)
i. Accounts Payable………………………………201 500
Cash……………………………………………101 500
Fees Earned………………………………..402 4,200
Provided services on account.
l. Salaries Expense……………….……………...601 1,000
Cash……………………………………………101 1,000
Paid assistant’s salary.
Owner withdrew cash for personal use.
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
(g) 3,200 22,200 Date PR Debit Credit Balance
(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
(k) 4,200 4,200 A. Nuncio, Capital No. 301
(m) 2,200 2,000 Date PR Debit Credit Balance
Date PR Debit Credit Balance
(c) 500 500
A. Nuncio, Withdrawals No. 302
Office Equipment No. 163 Date PR Debit Credit Balance
(k) 4,200 7,400
Automobiles No. 164 Salaries Expense No. 601
Date PR Debit Credit Balance Date PR Debit Credit Balance
(d) 8,000 8,000 (f) 1,000 1,000
(l) 1,000 2,000
Problem 2-4B (Concluded)
Part 3
NUNCIO CONSULTING
Trial Balance
June 30
Debit Credit
Building……………………………….….………….. 40,000
Land………………………………………….….…….. 7,500
Accounts payable………………………………... $ 1,200
Notes payable……………………….……….……. 32,500
A. Nuncio, Capital………………………………… 54,000
Total…………………………………..…………….…. $95 ,100 $95 ,100
Problem 2-5B (60 minutes)
Part 1
TAMA CO.
Balance Sheet
December 31, 2014
Assets Liabilities
Cash……..……….……………..$ 20,000 Accounts payable…………………………………………….………….............$ 4,000
Accounts receivable......... 35,000
TAMA CO.
Balance Sheet
December 31, 2015
Assets Liabilities
Office equipment………..…. 40,000
Machinery…………………….. 28,500
Building………………………... 250,000 Equity
Land……………………………… 50,000 Total equity…………………………………………………………………............. 150,000
Total assets…………………… $412,000 Total liabilities & equity…………………………………….……………..........$412,000
Part 2
Calculation of 2015 net income:
Equity, December 31, 2014……………………………..…….…………….. $127,500
2015 Net income…………………………………………………..….…………. ?
Owner withdrawals during 2015 ($250 x 12)…………………………. (3 ,000)
Part 3