Chapter 5 Problems

Transcription

Chapter 5 Problems

Date
Class
Problem 5-5 Analyzing Transactions
into Debit and Credit Parts
Cash in Bank
Balance 15,000 (1)
(3)
1,850 (2)
(4)
(6)
(8)
(9)
Accts. Rec.—Juan Alvarez
12,700
125
150
150
325
115
Balance 3,285
Accts. Pay.—Dogs & Cats Inc.
(7)
775
(1)
(5)
Balance
775
Balance 12,775
Abe Shultz, Capital
(6)
150
Balance
75
Balance 15,000
Balance
150
Grooming Revenue
1,850
Equipment Repair Expense
150
44 ■ Chapter 5
Abe Shultz, Withdrawals
Balance 15,000
Balance 1,850
Balance
12,700
75
75
(3)
150
Grooming Equipment
(5)
Boarding Revenue
(4)
(textbook p. 123)
Advertising Expense
(7)
775
(2)
125
Balance
775
Balance
125
Maintenance Expense
Balance
-0-
Rent Expense
(8)
325
Balance
325
Copyright © by The McGraw-Hill Companies. All rights reserved.
Name
Name
Date
Class
Problem 5-5 (concluded)
Utilities Expense
(9)
115
Balance
115
Analyze: Transaction 6 affects owner’s equity.
into Debit and Credit Parts
(textbook p. 124)
(1), (2), (3)
Cash in Bank
(1)
(6)
(10)
12,000 (4)
225 (5)
250 (7)
(8)
(9)
Accts. Rec.—Mary Johnson
123
95
225
1,750
250
Balance 10,032
(3)
750
(2)
Balance
750
Balance 3,750
Accts. Pay.—Peak Equip. Inc.
(8)
1,750 (2)
Juanita Ortega, Capital
3,750
(1)
Balance 2,000
12,000
Balance 12,000
Guide Service Revenue
(3)
(6)
(10)
Rafting Equipment
Juanita Ortega, Withdrawals
(9)
250
Balance
250
Maintenance Expense
750
225
250
Balance 1,225
3,750
Rent Expense
(4)
123
(7)
225
Balance
123
Balance
225
Chapter 5 ■ 45
Name
Date
Class
Utilities Expense
95
Balance
95
Debit
Balances
(4)
Account Name
Cash in Bank
$ 10,032
Accounts Receivable—Mary Johnson
Credit
Balances
$
750
Rafting Equipment
3,750
Accounts Payable—Peak Equip. Inc.
2,000
Juanita Ortega, Capital
12,000
Juanita Ortega, Withdrawals
250
Guide Service Revenue
1,225
Maintenance Expense
123
Rent Expense
225
Utilities Expense
95
Totals
$ 15,225
$ 15,225
Analyze: Total revenue earned was $1,225.
(textbook p. 125)
(1), (2), (3)
Accounts Receivable—
G. Cohen
Cash in Bank
17,500 (4)
233 (5)
264 (8)
(9)
(10)
(11)
Balance 16,287
(1)
(7)
(12)
46 ■ Chapter 5
750
265
125
375
150
45
(6)
67
Balance
67
Accounts Receivable—
J. Coletti
(5)
Name
Date
Class
Problem 5-7 (continued)
Computer Equipment
(2)
2,400
Balance 2,400
(3)
(5)
375
265
(2)
Balance
640
Balance 2,400
Accounts Payable—
New Media Suppliers
(9)
375 (3)
Balance
Greg Failla, Capital
375
(1)
-0-
17,500
VCR Rental Revenue
(10)
150
Balance
150
(7)
233
(6)
(12)
67
264
(11)
45
Balance
233
Balance
331
Balance
45
Rent Expense
2,400
Greg Failla, Withdrawals
Balance 17,500
Video Rental Revenue
Accounts Payable—
Computer Horizons
Video Tapes
Utilities Expense
(4)
750
(8)
125
Balance
750
Balance
125
Chapter 5 ■ 47
Name
Date
Class
(4)
Debit Balances
Account Name
Cash in Bank
Credit Balances
$
$ 16,287
Accounts Receivable—G. Cohen
67
Accounts Receivable—J. Coletti
-0-
Computer Equipment
2,400
Video Tapes
640
Accounts Payable—Computer Horizons
2,400
Accounts Payable—New Media Suppliers
-0-
Greg Failla, Capital
17,500
Greg Failla, Withdrawals
150
Video Rental Revenue
233
VCR Rental Revenue
331
45
Rent Expense
750
Utilities Expense
125
Totals
$ 20,464
$ 20,464
Analyze: Accounts Payable–Computer Horizons, Accounts Payable–New Media Suppliers,
and Greg Failla, Capital.
Assets
=
Liabilities
+
Owner’s
Equity
– Withdrawals +
(textbook p. 126)
Revenue
–
Expenses
1.
$64,400
$ 8,200
$56,300
$ 500
$10,000
$ 9,600
2.
22,150
525
18,800
1,200
12,100
8,075
3.
17,500
75
21,650
5,090
4,115
3,250
4.
49,450
420
47,840
1,500
20,300
17,610
5.
21,900
1,150
20,005
950
18,265
16,570
6.
72,640
2,790
52,441
10,750
67,908
39,749
7.
46,599
1,988
41,194
6,196
52,210
42,597
8.
78,028
3,840
61,774
6,112
40,163
21,637
53,166
46,750
(Expenses plus withdrawals equal $27,749.)
9.
64,070
13,427
49,102
4,875
(Total owner’s equity after adding revenue and subtracting expenses and withdrawals is $50,643.)
Analyze: The sum of owner’s equity is $44,611.
48 ■ Chapter 5
Problem 5-8 Completing the Accounting Equation

Chapter 5 Problems

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