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Exercise 2-13 (LO 2-4)
Corrections
External Transaction
Accounts
Debit
Credit
3.
Pay a $500 utilities bill for the current
Utilities Expense
500
Exercise 2-14 (LO 2-5)
Cash
(1)
5,000
15,000
9,000
(2)
Exercise 2-15 (LO 2-5)
Cash
Accounts Receivable
3,400
4,200
Supplies
Accounts Payable
UnearnedDeferred
Revenue
Service Revenue
Advertising
Expense
0
Exercise 2-16 (LO 2-5)
Chapter 2 - The Accounting Cycle: During the Period
Exercise 2-17 (LO 2-6)
Sooner Company
Trial Balance
April 30
Accounts
Debit
Credit
Cash
$ 3,900
Accounts Receivable
6,100
Exercise 2-18 (LO 2-6)
Cobras Incorporated
Trial Balance
March 31
Accounts
Debit
Credit
Cash
$ 3,500
Exercise 2-19 (LO 2-4, 2-5, 2-6)
Requirement 1
(1) January 1
Debit
Credit
(2) January 5
(3) January 9
(5) January 18
(6) January 23
(7) January 31
Exercise 2-19 (continued)
Requirement 2
Cash
Common Stock
Land
Notes Payable
0
0
Equipment
Service Revenue
0
0
Supplies
Accounts Payable
0
0
Salaries Expense
0
Chapter 2 - The Accounting Cycle: During the Period
Exercise 2-19 (concluded)
Requirement 3
Green Wave Company
Trial Balance
Accounts
Debit
Credit
Cash
$37,000
Exercise 2-20 (LO 2-4, 2-5, 2-6)
Requirement 1
(1) September 3
Debit
Credit
Accounts Receivable
20,000
(2) September 8
Equipment
21,000
(3) September 12
(4) September 15
Salaries Expense
4,200
(5) September 19
(6) September 22
(7) September 26
(8) September 30
Chapter 2 - The Accounting Cycle: During the Period
Exercise 2-20 (continued)
Requirement 2
Accounts Receivable
Service Revenue
Equipment
Cash
Beg.
(2)
7,400
21,000
Beg.
46,100
21,000
(2)
Supplies
Accounts Payable
Beg.
500
1,200
Beg.
Salaries Expense
Advertising Expense
Beg.
0
Beg.
0
Rent Expense
UnearnedDeferred
Revenue
Beg.
0
0
Beg.
Common Stock
Retained Earnings
2-30 Financial Accounting, 4e
Exercise 2-20 (concluded)
Requirement 3
Boilermaker House Painting Company
Trial Balance
Accounts
Debit
Credit
Cash
$35,500
Accounts Receivable
6,700
Chapter 2 - The Accounting Cycle: During the Period
PROBLEMS: SET A
Problem 2-1A (LO 2-2)
Transaction
Assets
=
Liabilities
+
Stockholders’
Equity
2-32 Financial Accounting, 4e
Problem 2-2A (LO 2-2)
Transaction
Assets
=
Liabilities
+
Stockholders’
Equity
1. Provide services to
customers on account,
$1,600.
+$1,600
=
$0
+
+$1,600
Chapter 2 - The Accounting Cycle: During the Period
Problem 2-3A (LO 2-3)
Accounts
Type of Account
Normal Balance
(Debit or Credit)
1. Salaries Payable
Liability
Credit
Chapter 2 - The Accounting Cycle: During the Period
Problem 2-4A (LO 2-4)
Transactions for Jake’s Lawn Maintenance Company
July 3
Debit
Credit
Accounts Receivable
500
Problem 2-5A (LO 2-2, 2-4)
Transactions for Luke’s Repair Shop
July 3
Debit
Credit
Repairs and Maintenance Expense
500
Accounts Payable
500
2-36 Financial Accounting, 4e
Problem 2-5A (concluded)
Jake’s Lawn Maintenance Company
Luke’s Repair Shop
Assets
=
Liabilities
+
Stockholders’
Equity
Assets
=
Liabilities
+
Stockholders’
Equity
July 3
+$500
=
$0
+
+$500
$0
=
+$500
+
−$500
6
$0
=
+$450
+
−$450
+$450
=
$0
+
+$450
Chapter 2 - The Accounting Cycle: During the Period
Problem 2-6A (LO 2-6)
Bruins Company
Trial Balance
November 30
Accounts
Debit
Credit
Cash
$ 40,000
Accounts Receivable
50,000
Supplies
1,100
Problem 2-7A (LO 2-4, 2-5, 2-6)
Requirement 1
Entries are numbered for posting.
(1)
March 1
Debit
Credit
Cash
3,000
(2)
March 3
(3)
March 5
Rent Expense
600
March 7
No entry
(4)
March 12
Supplies
130
(5)
March 15
Cash
800
(6)
March 19
(7)
March 25
UnearnedDeferred Revenue
700
(8)
March 30
Utilities Expense
95
(9)
March 31
Dividends
150
Problem 2-7A (continued)
Requirements 2 and 3
Cash
Supplies
Equipment
(1) 3,000
600 (3)
(4) 130
(2) 2,700
(6) 700
150 (9)
3,655
Accounts Payable
UnearnedDeferred
Revenue
Notes Payable
Common Stock
Dividends
2,700 (2)
3,000 (1)
(9) 150
2-40 Financial Accounting, 4e
Problem 2-7A (concluded)
Requirement 4
Ute Sewing Shop
Trial Balance
March 31
Accounts
Debit
Credit
Cash
$3,655
Supplies
130
Equipment
2,700
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