Debit Credit Balance
PROBLEM 3.4B
Date
TONE DELIVERIES (continued)
Dividend Payable
Explanation
Debit Credit Balance
PROBLEM 3.4B
Date
TONE DELIVERIES (continued)
Fuel Expense
Explanation
d.
50,800$
21,900
PROBLEM 3.4B
TONE DELIVERIES
March 31, 2015
Cash
TONE DELIVERIES (continued)
Trial Balance
Accounts receivable
e.
Total Assets: 50,800$
The above figures are most likely not the amounts to be
PROBLEM 3.4B
TONE DELIVERIES (concluded)
Cash
Revenue Expenses = Assets Liabilities =
NE NE NE I NE I
NE NE NE I I NE
PROBLEM 3.5B
60 Minutes, Strong
DR. CRAVATI, DMD
Balance SheetIncome Statement
a.
Owners’
Equity
Transaction Net
Income
Aug. 1
Aug. 4
b.
Au
g
. 1 280,000
Ca
p
ital Stock 280,000
21 4,200
Cash 4,200
Cash
PROBLEM 3.5B
DR. CRAVATI, DMD (continued
)
2015
General Journal
Office Supplies
Purchased fixtures and equipment.
Purchased land and building.
Purchased office supplies.
c.
Aug. 1 280,000 Aug. 4 80,000 Aug. 4 320,000
PROBLEM 3.5B
DR. CRAVATI, DMD (continued)
Notes Payable
Cash
d.
110,100$
11,500
Accounts receivable
Cash
Trial Balance
PROBLEM 3.5B
DR. CRAVATI, DMD (continued)
DR. CRAVATI, DMD
August 31, 2015
e.
Total Assets: 110,100$
11,500
PROBLEM 3.5B
DR. CRAVATI, DMD (concluded
)
Cash
Accounts receivable
a.
Feb. 2 750
Cash 750
General Journal
PROBLEM 3.6B50 Minutes, Strong
CLOWN AROUND, INC.
2015 Accounts Payable
Paid $750 in partial settlement of outstanding
accounts payable.
Billed and collected cash for performing at
Collected $900 in full settlement of outstanding
accounts receivable.
several birthday parties.
Declared and distributed dividend to Ralph
February.
Paid clown salaries for work performed in
Jaschob.