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Title: Problem 3-3B
Parts 1 and 2
QA_Ori:
Cash Accounts Payable
Accounts Receivable Salaries Payable
Unadj.
Bal.
0 Unadj.
Bal.
0
Teaching Supplies Unearned Training Fees
Prepaid Insurance C. Augustus, Capital
C. Augustus, Withdrawals
Prepaid Rent Bal. 20,000
Professional Library
Bal. 12,000
Accumulated Depreciation—
Professional Library
Equipment
Accumulated Depreciation—
Equipment
Bal.
Title: Problem 3-3B
Parts 1 and 2
QA_Ori:
Tuition Fees Earned Advertising Expense
Unadj.
129,20
Bal. 19,000
Training Fees Earned Utilities Expense
Bal.
Depreciation Expense—
Professional Library
Depreciation Expense—
Equipment
Unadj.
Bal.
0
Salaries Expense
Insurance Expense
Rent Expense
Teaching Supplies Expense
Unadj.
Bal.
0
(b) 50,000
Adj. Bal. 50,000
Adjustment (a)
31-Dec Insurance Expense 9,500
Adjustment (b)
31-Dec Teaching Supplies Expense
50,00
0
50,00
Adjustment (c)
31-Dec Depreciation Expense—Equipment 5,000
Adjustment (d)
31-Dec
Depreciation Expense—Professional
Library 2,400
Adjustment (e)
31-Dec Unearned Training Fees
28,60
0
28,60
Adjustment (f)
31-Dec Accounts Receivable 5,750
Adjustment (g)
31-Dec Salaries Expense 450
Adjustment (h)
Part 3
AUGUSTUS INSTITUTE
Adjusted Trial Balance
December 31, 2013
Debit Credit
Cash............................................................................... $ 60,000
Accounts receivable......................................................... 5,750
Teaching supplies............................................................. 20,000
Part 4
AUGUSTUS INSTITUTE
Income Statement
For Year Ended December 31, 2013
Revenues
Tuition fees earned
$134,95
0
Training fees earned 96,600
Total revenues
$231,55
0
AUGUSTUS INSTITUTE
Statement of Owner’s Equity
For Year Ended December 31, 2013
C. Augustus, Capital, December
31, 2012 $71,500
aUGUSTUS INSTITUTE
Balance Sheet
31-Dec-13
Assets
Cash $60,000
Accounts receivable 5,750
Teaching supplies 20,000
Prepaid insurance 9,500
$12,00
Title: Problem 3-4B
Part 1
QA_Ori:
Account
Unadjusted
Trial Balance Adjustments
Adjusted
Trial Balance
Cash................................$ 45,000 $ 45,000
Accounts receivable............60,000 (a) 6,660 66,660
Office supplies....................40,000 (b) 23,000 17,000
Z. Yan, Capital.................... 80,200 80,200
Z. Yan, Withdrawals............ 20,000 20,000
Consulting fees earned....... 234,600
(a)
(h)
6,660
12,200 253,460
Adjustment Descriptions
(a) Earned but uncollected revenues.
(b) Cost of office supplies used.
Part 2
yAN CONSULTING CoMPANY
Income Statement
For Year Ended December 31, 2013
Revenues
Consulting fees earned
$253,46
0
yan CONSULTING CoMPANY
Statement of Owner’s Equity
For Year Ended December 31, 2013
Z. Yan, Capital, December 31,
2012
$80,20
0
Part 2
YAN CONSULTING COMPANY
Balance Sheet
December 31, 2013
Assets
Cash................................................................................ $ 45,000
Accounts receivable........................................................ 66,660
Liabilities
Accounts payable............................................................ $ 32,000
Interest payable............................................................... 2,150
Equity
Title: Problem 3-5B
Part 1
QA_Ori:
SPEEDY COURIER
Income Statement
For Year Ended December 31, 2013
Revenues
Delivery fees earned
$611,80
0
Interest earned 34,000
Total revenues
$645,80
0
SPEEDY COURIER
Statement of Owner's Equity
For Year Ended December 31, 2013
L. Horace, Capital, December
31, 2012
$125,00
0
Plus : Net income 86,000
211,00
0
Assets
Cash $ 58,000
Accounts receivable 120,000
Interest receivable 7,000
Liabilities
Accounts payable $134,000
Interest payable 20,000
Equity
