Student Name:
Class:
Debit Credit
40,000$
50,000
Accounts Receivable
Cash
Accounts
Instructor
BRUINS COMPANY
November 30
Trial Balance
Problem 02-06
McGraw-Hill
Interest expense
Supplies Expense
Common Stock
Retained Earnings
Dividends
Service Revenue
Salaries Expense
Rent Expense
Notes Payable
Supplies
Prepaid Rent
Equipment
Accounts Payable
Salaries Payable
Interest Payable
Deferred Revenue
Balances
40,000$
50,000
November 30
Trial Balance
BRUINS COMPANY
Given Data P02-06:
Accounts Receivable
Cash
Account Title
Salaries Expense
Rent Expense
Interest expense
Supplies Expense
Utilities Expense
Service Revenue
Supplies
Prepaid Rent
Equipment
Accounts Payable
Salaries Payable
Interest Payable
Deferred Revenue
Notes Payable
Common Stock
Retained Earnings
Dividends
Student Name:
Class:
Requirement 1:
Date Account Debit Credit
March 1 3,000
3,000 <–Correct!
Cash
(Issue common stock)
Transactions
Common Stock
Problem 02-07
McGraw-Hill
Instructor
UTE SEWING SHOP
Service Revenue
Deferred Revenue
(Receive cash in advance from customer)
Deferred Revenue
Cash
(Pay dividends)
Cash
Dividends
(Pay utilities for current month)
Cash
Utilities Expense
(Provide services to customer)
(Purchase sewing equipment with note payable)
Notes Payable
Equipment
(Pay rent for current month)
Cash
Rent Expense
(Provide services for cash)
Service Revenue
Cash
(Purchase sewing supplies on account)
Accounts Payable
Supplies
No Entry
Student Name:
Class:
Problem 02-07
McGraw-Hill
Instructor
Requirement 2:
3,000 600 130 2,700
Debit Credit
Dividends
Equipment
3,655$
130
Cash
Accounts
Requirement 3:
31-Mar
Supplies
Notes Payable
Cash
Supplies
Equipment
Trial Balance
UTE SEWING SHOP
T-Accounts
UTE SEWING SHOP
Accounts Payable
Deferred Revenue
Given Data P02-07:
UTE SEWING SHOP
Transactions for March:
Student Name:
Class:
Requirement 1:
Date Debit Credit
Sep. 1 4,700
4,700 <–Correct!
Cash
Account
(Provide services for cash)
Service Revenue
Problem 02-08
McGraw-Hill
Instructor
Transactions
PIRATES INCORPORATED
(Purchase land with note payable)
Notes Payable
Accounts Receivable
(Receive invoice for current advertising)
Accounts Payable
Advertising Expense
(Purchase supplies on account)
Accounts Payable
Supplies
(Provide services on account)
Service Revenue
Utilities Expense
(Pay rent for current month)
Cash
Rent Expense
(Receive cash on account)
Accounts Receivable
Cash
(Pay note payable)
Cash
Notes Payable
Cash
Salaries Expense
(Pay utilities for current month)
Cash
(Pay dividends)
Cash
Dividends
(Pay salaries for current month)
Student Name:
Class:
Problem 02-08
McGraw-Hill
Instructor
6,500 4,000 2,500 5,000 7,600
4,700 900 6,000 1,100
5,000 2,000
4,000
1,100
4,200 3,500 8,700
Correct! Correct! Correct!
11,200 7,500 4,000 3,000
Requirement 2:
Land
Accounts Payable
Notes Payable
Accounts Receivable
Supplies
PIRATES INCORPORATED
Cash
T-Accounts
Student Name:
Class:
Problem 02-08
McGraw-Hill
Instructor
Debit Credit
4,200$
3,500$
Accounts Receivable
Cash
Accounts
Requirement 3:
September 30
PIRATES INCORPORATED
Trial Balance
Advertising Expense
Utilities Expense
Service Revenue
Retained Earnings
Salaries Expense
Rent Expense
Common Stock
Supplies
Dividends
Notes Payable
Accounts Payable
Accounts Debits Credits
6,500$
Transactions for September:
September 1 4,700$
Pays cash dividends to shareholders
Purchase supplies on account
Pay cash on long-term note
Receive cash for accounts receivable
Pay cash for September rent
Pay September utility bill
Pay employee salaries
Provide services on account
Purchase land with long-term note
Receive invoice for newspaper advertising
Given Data P02-08:
September 1
Account Balances
PIRATES INCORPORATED
Cash
Provide services for cash
Retained earnings
Common stock
Notes payable
Accounts payable
Supplies
Accounts receivable