Assets
=
Liabilities
+
Shareholder
s’
Equity
(Class.)
+600
–600
(9) The placing of an order does not give rise to a journal entry because it represents
QA_Edit:
(Winkle Grocery Store; journal entries for various transactions.) (amounts in US$)
Assets
=
Liabilities
+
Shareholder
s’
Equity
(Class.)
+30,000
+30,000
ContriCap
Assets
=
Liabilities
+
Shareholder
s’
Equity
(Class.)
+5,000
+5,000
Assets
=
Liabilities
+
Shareholder
(Class.)
+12,000
–12,000
Assets
= Liabilities +
Shareholders’
Equity (Class.)
+8,000
–8,000
Assets
= Liabilities +
Shareholders’
Equity (Class.)
+25,000
+13,000
–12,000
Assets
= Liabilities +
Shareholders’
Equity (Class.)
+4,000
+4,000
Assets
= Liabilities +
Shareholders’
Equity (Class.)
+1,200
–1,200
Assets
= Liabilities +
Shareholders’
Equity (Class.)
+600
–600
Title: 2.13
QA_Ori: (Moulton Corporation; recording transactions and preparing a balance sheet.)
(amounts in US$)
a. T-accounts.
Merchandise
Prepaid
Cas
h
(
A
)
In
v
e
nto
r
y
(
A
)
Ins
u
ra
n
c
e
(
A
)
(2)
50,000 (2) 450,000 (7)
80,000
(4)
250,000 280,000 (3) 80,000
(7)
300,000
(6)
b. MOULTON CORPORATION
Balance Sheet
December 31, Year 12
Merchandise
Inventories
……………………………………… 275,000
Total Current A
ss
et
s
……………………………………….. $
63
0
, 00
0
Noncurrent Assets:
Liabilities and Shareholders’ Equity
Current Liabilities:
Noncurrent Liabilities:
Title: 2.14
QA_Ori: (Patterson Corporation; recording transactions and preparing a balance sheet.)
(amounts in US$)
(10) Because no insurance coverage has yet been provided and no cash has changed
QA_Edit:
a. T-accounts.
(10) Because no insurance coverage has yet been provided and no cash has changed
Assets
= Liabilities +
Shareholders’
Equity (Class.)
+25,000
+13,000
–12,000
Assets
= Liabilities +
Shareholders’
Equity (Class.)
+4,000
+4,000
Assets
= Liabilities +
Shareholders’
Equity (Class.)
+1,200
–1,200
Assets
= Liabilities +
Shareholders’
Equity (Class.)
+600
–600
Title: 2.13
QA_Ori: (Moulton Corporation; recording transactions and preparing a balance sheet.)
(amounts in US$)
a. T-accounts.
Merchandise
Prepaid
Cas
h
(
A
)
In
v
e
nto
r
y
(
A
)
Ins
u
ra
n
c
e
(
A
)
(2)
50,000 (2) 450,000 (7)
80,000
(4)
250,000 280,000 (3) 80,000
(7)
300,000
(6)
b. MOULTON CORPORATION
Balance Sheet
December 31, Year 12
Merchandise
Inventories
……………………………………… 275,000
Total Current A
ss
et
s
……………………………………….. $
63
0
, 00
0
Noncurrent Assets:
Liabilities and Shareholders’ Equity
Current Liabilities:
Noncurrent Liabilities:
Title: 2.14
QA_Ori: (Patterson Corporation; recording transactions and preparing a balance sheet.)
(amounts in US$)
(10) Because no insurance coverage has yet been provided and no cash has changed
QA_Edit:
a. T-accounts.
(10) Because no insurance coverage has yet been provided and no cash has changed