Student Name:
Class:
60,000 60,000
Correct! Correct!
16,000 16,000
Correct! Correct!
950 950
Correct! Correct!
16,000 16,000
Correct! Correct!
10,000 10,000
Correct! Correct!
Cash
Cash
Office Equipment
Accounts Payable
Accounts Payable
Problem 03.02A
McGraw-Hill/Irwin
Instructor
Cash
Greta Davis, Capital
Office Equipment
Accounts Payable
Automobile
Cash
Office Furniture
Cash
Cash
Greta Davis, Capital
60,000$
16,000$
950$
16,000$
10,000$
3,000$
950$
4,000$
2. Purchased office furniture for cash.
1. Greta Davis invested cash in the business.
PROFESSIONAL COUNSELING SERVICES
Selected Transactions
Given Data P03.02A:
8. Davis withdrew cash for personal expenses.
7. Paid cash to settle the amount owed on the fax machine.
6. Bought a new computer; payment is due in 60 days.
5. Davis invested additional cash.
4. Purchased a used car for cash.
3. Bought a fax machine; payment is due in 30 days.
Student Name:
Class:
+ – + – + –
a 150,000 5,000 b f 13,000 6,500 h g 36,000
d 7,200 15,720 c n 15,000 7,000 o k 30,000
h 6,500 1,150 e
m
13,500 12,000 g
o 7,000 3,000 i 66,000
15,000 k Correct!
8,400 l
2,400 p
600 q
1,120 r
8,000 s
111,810 14,500
8,000 48,700 5,000
+ – + – + –
Salaries Expense
1,120 8,400 1,150
Correct! Correct! Correct!
+ – + –
3,000 600
Correct! Correct!
Instructor
Office Equipment
Cash
Accounts Receivable
Problem 03.04A
McGraw-Hill/Irwin
How much does the company owe in Accounts Payable? 41,400
Correct!
a. 150,000$
b. 5,000$
c. 15,720$
d. 7,200$
e. 1,150$
f. 13,000$
g. 36,000$
12,000$
h. 6,500$
i. 3,000$
j. 4,800$
k. 30,000$
l. 8,400$
m. 13,500$
n. 15,000$
o. 7,000$
p. 2,400$
q. 600$
r. 1,120$
s. 8,000$
Transactions
JOHN WILSON, LANDSCAPE CONSULTANT
Given Data P03.04A:
Wilson withdrew cash for personal expenses.
Paid for the monthly electric bill.
Paid duplicating company for photocopy work for month.
Issued a check as partial payment on office chairs.
Collected on accounts receivable from charge customers.
Performed services on credit.
Performed services for cash.
Paid cash for office cleaning services for month.
Received cash from credit clients.
Balance due in 30 days
Paid cash down
Issued a check to pay salaries.
the balance is due in 30 days.
Purchased office equipment and paid half in cash immediately;
Purchased additional office chairs, balance due in 30 days.
Bought office furniture for cash.
Paid for the current month’s rent
Wilson invested cash to start the business.
Purchased computer and copier:
Performed services on credit.
Paid for the monthly telephone bill.
Performed services for cash.
Student Name:
Class:
Debits Credits
111,810$
14,500
66,000
20,520
41,400$
150,000
8,000
48,700
600
3,000
5,000
8,400
1,150
1,120
240,100$ 240,100$
Correct! Correct!
48,700$
600$
3,000
5,000
8,400
1,150
1,120
19,270
Net Income 29,430$
Correct!
150,000$
29,430$
8,000
21,430
171,430$
Correct!
Cash 111,810$ Accounts Payable 41,400$
Accounts Receivable 14,500
Office Equipment 66,000 John Wilson, Capital 171,430
Office Furniture 20,520 Total Liabilities and
Total Assets 212,830$
Owner’s Equity
212,830$
Correct! Correct!
+ – + – + –
Utilities Expense
Cash
Problem 03.05A
McGraw-Hill/Irwin
Instructor
ASSETS
LIABILITIES
John Wilson, Landscape Consultant
Accounts Receivable
TOTALS
Balance Sheet
June 30, 2013
Office Equipment
John Wilson, Landscape Consultant
Trial Balance
June 30, 2013
Account Name
John Wilson, Landscape Consultant
Statement of Owner’s Equity
Month Ended June 30, 2013
John Wilson, Landscape Consultant
OWNER’S EQUITY
Telephone Expense
Salaries Expense
Rent Expense
Office Cleaning Expense
Income Statement
Month Ended June 30, 2013
Accounts Payable
Office Furniture
Office Equipment
Accounts Receivable
Copy Expense
Fees Income
John Wilson, Drawing
John Wilson, Capital
Cash
Utilities Expense
Telephone Expense
Salaries Expense
Rent Expense
Office Cleaning Expense
Copy Expense
Expenses
Fees Income
Revenue
John Wilson, Capital, June 30, 2013
Increase in Capital
Less Withdrawals for June
Net Income for June
John Wilson, Cap., June 1, 2013
a 150,000 5,000 b f 13,000 6,500 h g 36,000
d 7,200 15,720 c n 15,000 7,000 o k 30,000
h 6,500 1,150 e
m
13,500 12,000 g
o 7,000 3,000 i 66,000
15,000 k
8,400 l
2,400 p
600 q
1,120 r
8,000 s
111,810 14,500
+ – – + – +
c 15,720 p 2,400 24,000 g 150,000 a
j 4,800 4,800 j
15,000 k
20,520 41,400 150,000
+ – – + + –
s 8,000 7,200 d b 5,000
13,000 f
13,500 m
15,000 n
8,000 48,700 5,000
+ – + – + –
r 1,120 l 8,400 e 1,150
1,120 8,400 1,150
+ – + –
i 3,000 q 600
3,000 600
Office Furniture
John Wilson, Capital
Rent Expense
Utilities Expense
Salaries Expense
Telephone Expense
Accounts Payable
Office Cleaning Expense
Copy Expense
John Wilson, Drawing
Fees Income
a. 150,000$
b. 5,000$
c. 15,720$
d. 7,200$
e. 1,150$
f. 13,000$
g. 36,000$
12,000$
h. 6,500$
i. 3,000$
j. 4,800$
k. 30,000$
l. 8,400$
m. 13,500$
n. 15,000$
o. 7,000$
p. 2,400$
q. 600$
r. 1,120$
s. 8,000$
Given Data P03.05A:
Wilson invested cash to start the business.
Paid for the current month’s rent
Bought office furniture for cash.
Performed services for cash.
Paid for the monthly telephone bill.
Transactions
JOHN WILSON, LANDSCAPE CONSULTANT
Received cash from credit clients.
Paid cash for office cleaning services for month.
Purchased additional office chairs, balance due in 30 days.
Purchased office equipment and paid half in cash immediately;
Performed services on credit.
Purchased computer and copier:
Paid cash down
Balance due in 30 days
Wilson withdrew cash for personal expenses.
Collected on accounts receivable from charge customers.
Issued a check as partial payment on office chairs.
Paid duplicating company for photocopy work for month.
Paid for the monthly electric bill.
the balance is due in 30 days.
Issued a check to pay salaries.
Performed services for cash.
Performed services on credit.