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Title: Exercise 2-22
QA_Ori:
a.
Co. Liabilities / Assets =
Debt
Ratio
Net
Income /
Average
Assets = ROA
1 $11,765 $ 90,500 0.13 $20,000 $100,000 0.200
2 46,720 64,000 0.73 3,800 40,000 0.095
Title: Exercise 2-23
QA_Ori:
BMW
Balance Sheet (in Euro millions)
31-Dec-11
Assets Equity and liabilities
Noncurrent assets € 9,826 Total equity 8222
Title: Problem 2-1A
QA_Ori:
Part 1
a. Cash 101
100,00
0
Land 172 49,000
c. Building 170 55,000
d. Prepaid Insurance 108 3,000
e. Cash 101 6,200
f. Drafting Equipment 164 20,000
g. Accounts Receivable 106 14,000
h. Office Equipment 163 1,150
i. Accounts Receivable 106 22,000
Incurred equipment rental
expense.
k. Cash 101 7,000
Accounts Receivable 106 7,000
Collected cash on account.
Paid for advertising expense.
Part 2
Cash No. 101 Accounts Payable No. 201
Date PR Debit Credit Balance Date PR Debit Credit Balance
(a) 100,000 100,000 (h) 1,150 1,150
(b) 6,300 93,700 (j) 1,333 2,483
(c) 55,000 38,700 (m) 1,150 1,333
Accounts Receivable No. 106 J. Aracel, Withdrawals No. 302
Date PR Debit Credit Balance Date PR Debit Credit Balance
(g) 14,000 14,000 (o) 9,480 9,480
Date PR Debit Credit Balance
Prepaid Insurance No. 108 (e) 6,200 6,200
Date PR Debit Credit Balance (g) 14,000 20,200
(d) 3,000 3,000 (i) 22,000 42,200
Office Equipment No. 163 Wages Expense No. 601
Date PR Debit Credit Balance Date PR Debit Credit Balance
Drafting Equipment No. 164 Equipment Rental Expense No. 602
Date PR Debit Credit Balance Date PR Debit Credit Balance
Building No. 170 Advertising Expense No. 603
Date PR Debit Credit Balance Date PR Debit Credit Balance
(c) 55,000 55,000 (q) 2,500 2,500
Land No. 172 Repairs Expense No. 604
Date PR Debit Credit Balance Date PR Debit Credit Balance
Part 3
Aracel Engineering
Trial Balance
30-Jun
Debit Credit
Cash $22,945
Accounts receivable 29,000
Accounts payable $1,333
Notes payable 53,200
J. Aracel, Capital 165,000
Title: Problem 2-2A
QA_Ori:
Part 1
1-Mar Cash 101
150,00
0
2-Mar Prepaid Rent 131 6,000
3-Mar Office Equipment 163 3,000
6-Mar Cash 101 4,000
9-Mar Accounts Receivable 106 7,500
12-Ma
r Accounts Payable 201 4,200
19-Ma
r Prepaid Insurance 128 5,000
22-Ma
r Cash 101 3,500
25-Ma
29-Ma
r D. Brooks, Withdrawals 302 5,100
30-Ma
r Office Supplies 124 600
31-Ma
Part 2
Cash Acct. No. 101
Date Explanation PR Debit Credit Balance
Mar. 1 G1 150,000 150,000
2 G1 6,000 144,000
Accounts Receivable Acct. No. 106
Date Explanation PR Debit Credit Balance
Mar. 9 G1 7,500 7,500
Office Supplies Acct. No. 124
Date Explanation PR Debit Credit Balance
Prepaid Insurance Acct. No. 128
Date Explanation PR Debit Credit Balance
Prepaid Rent Acct. No. 131
Date Explanation PR Debit Credit Balance
Office Equipment Acct. No. 163
Date Explanation PR Debit Credit Balance
Accounts Payable Acct. No. 201
Date Explanation PR Debit Credit Balance
Mar. 3 G1 4,200 4,200
D. Brooks, Capital Acct. No. 301
Date Explanation PR Debit Credit Balance
D. Brooks, Withdrawals Acct. No. 302
Date Explanation PR Debit Credit Balance
Services Revenue Acct. No. 403
Date Explanation PR Debit Credit Balance
Utilities Expense Acct. No. 690
Date Explanation PR Debit Credit Balance
Part 3
Venture Consultants
Trial Balance
31-Mar
Debit Credit
Cash $136,700
Accounts receivable 7,820
Office supplies 1,800
