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Title: Problem 2-4B
QA_Ori:
Part 1
TAMA CO.
Balance Sheet
December 31, 2012
Assets Liabilities
Cash....................................$ 20,000 Accounts payable...............................................................................$ 4,000
Accounts receivable............ 35,000
TAMA CO.
Balance Sheet
December 31, 2013
Assets Liabilities
Cash.................................... $ 5,000 Accounts payable...............................................................................$ 12,000
Accounts receivable............ 25,000 Note payable...................................................................................... 250,000
Part 2
Calculation of 2013 net income:
Equity, December 31, 2012 127,500
Part 3
Debt ratio = $262,000 / $412,000 = 63.6%
Title: Problem 2-5B
QA_Ori:
Part 1
GOULD SOLUTIONS
Trial Balance
30-Apr
Debit Credit
Cash $19,982
Office supplies 760
Prepaid rent 1,800
Part 2: Likely transactions (following order of trial balance).
1. Purchased $760 of office supplies for cash.
2. Paid $1,800 cash for prepaid rent.
Part 3
Report of Cash Received and Paid
Cash received
Title: Problem 2-6B
QA_Ori:
Part 1
a. Cash 101
35,0
00
11,00
b. Land 172
7,50
0
40,0
c. Office Supplies 108 500
d. Automobiles 164
8,00
0
e. Office Equipment 163
1,20
0
f. Salaries Expense 601 1,00
g. Cash 101
3,20
0
.
h. Utilities Expense 602 540
i. Accounts Payable 201 500
j. Office Equipment 163
3,40
0
Cash 101 3,400
Purchased equipment for cash.
4,20
l. Salaries Expense 601
1,00
0
Cash 101 1,000
Paid assistant’s salary.
2,20
Cash No. 101 Land No. 172
Date PR Debit Credit Balance Date PR Debit Credit Balan
ce
(a) 35,000 35,000 (b) 7,500 7,500
ce
(h) 540 21,660 (c) 500 500
ce
(b) 32,500 32,50
0
Accounts Receivable No. 106
Date PR Debit Credit Balance
ce
(a) 46,000 46,00
0
Office Supplies No. 108 (d) 8,000 54,00
0
Date PR Debit Credit Balance
(c) 500 500
A. Nuncio, Withdrawals No. 302
Office Equipment No. 163 Date PR Debit Credit Balan
ce
Date PR Debit Credit Balance (n) 1,100 1,100
ce
(g) 3,200 3,200
(k) 4,200 7,400
Automobiles No. 164 Salaries Expense No. 601
Date PR Debit Credit Balance Date PR Debit Credit Balan
ce
(d) 8,000 8,000 (f) 1,000 1,000
(l) 1,000 2,000
Building No. 170
Date PR Debit Credit Balance Utilities Expense No. 602
(b) 40,000 40,000 Date PR Debit Credit Balan
ce
(h) 540 540
Part 3
NUNCIO CONSULTING
Trial Balance
30-Jun
Debit Credit
Cash $17,860
Accounts receivable 2,000
Office supplies 500
Office equipment 15,600
Title: Serial Problem
QA_Ori:
Part 1
2013
1-Oct Cash 101
55,00
0
Office Equipment 163 8,000
20,00
Accounts Payable 201 1,420
Purchased supplies on credit.
5-Oct Prepaid Insurance 128 2,220
Cash 101 2,220
Paid 12 months’ premium in
advance.
Owner withdrew cash.
1-Oct Mileage Expense 676 320
Cash 101 320
Reimbursed Lopez for mileage.
24-Oct Accounts Receivable 106 3,950
Computer Services Revenue 403 3,950
Billed customer for services.
25-Oct No entry necessary.
28-Oct Mileage Expense 676 384
Cash 101 384
Reimbursed Lopez for mileage.
Part 2
