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1、Ex. 33Nov. 1 Cash.120,000 Capital Stock.120,000 Issued stock in exchange for cash. 8 Land.70,000 Building.58,600 Cash.33,600 Notes Payable.95,000 Purchased land and building, by paying $33,600 cash and issuing a note payable for the remaining balance. 15 Office Equipment.3,200 Accounts Payable.3,200
2、 Purchased office equipment on account. 21 Accounts Payable.480 Office Equipment.480 Returned some of the office equipment purchased on November 15. 25 Notes Payable.12,000 Cash.12,000 Paid note payable. 30 Vehicles.9,400 Cash.1,400 Notes Payable.8,000 Purchased vehicles by paying $1,400 cash and is
3、suing a note payable for the remaining balance. Ex. 34AVENSON INSURANCE COMPANY Trial Balance November 30, 20_ Cash .$ 73,000 Land.70,000 Building .58,600 Office equipment.2,720 Vehicles .9,400 Notes payable.$ 91,000 Accounts payable.2,720 Capital stock .120,000 $213,720$213,720 Ex. 313 a.July18 Cas
4、h .1,500 Capital Stock.1,500 Issued 500 shares of capital stock to Patrick Donegan at $3 per share. July22 Office Supplies. 100 Accounts Payable.100 Purchased office supplies on account. July23 Mowing Equipment.2,000 Cash .400 Notes Payable .1,600 Purchased mowing equipment paying $400 cash and issu
5、ing a $1,600 note payable for the balance. July24 Fuel Expense.25 Cash .25 Paid for gasoline to be used in July. July25 Accounts Receivable . 150 Mowing Revenue.150 Billed Lost Creek Cemetery for mowing services. Payment is due July 30. July26 Accounts Receivable . 200 Mowing Revenue.200 Billed Golf
6、 View Condominiums for mowing services. Payment is due August 1. July30 Cash. 150 Accounts Receivable .150 Collected amount due from Lost Creek Cemetery for mowing services provided July 25. July31 Salaries Expense.80 Cash .80 Paid salary to Teddy Grimm for work performed in July. 30 Minutes, Medium
7、 PROBLEM 31 HEARTLAND CONSTRUCTION a. General Journal 20_ Feb.1 Cash5 0 0 0 0 0 Capital Stock5 0 0 0 0 0 Issued 25,000 shares of Capital Stock. 10 Land1 0 0 0 0 0 Office Building2 0 0 0 0 0 Cash6 0 0 0 0 Notes Payable2 4 0 0 0 0 Purchased land and office building. 16 Computer Systems1 2 0 0 0 Cash1
8、2 0 0 0 Purchased computer system. 18 Office Furnishings9 0 0 0 Cash1 0 0 0 Accounts Payable8 0 0 0 Purchased office furnishings. 22 Office Supplies3 0 0 Cash3 0 0 Purchased office supplies. 23 Accounts Receivable 3 6 Computer Systems 3 6 Purchased computer system. 27 Accounts Payable4 0 0 0 Cash4 0
9、 0 0 Made payment on an account payable. 28 Cash3 6 Accounts Receivable3 6 Collected cash refunded by PC World. b. TransactionAssets=Liabilities+Owners Equity Feb. 1+ $500,000 (Cash)$0+ $500,000 (Capital Stock) Feb. 10+ $100,000 (Land)+ $240,000 (Notes Payable)$0 + $200,000 (Office Building) $60,000
10、 (Cash) Feb. 16+ $12,000 (Computer Systems)$0$0 $12,000 (Cash) Feb. 18+ $9,000 (Office Furnishings)+ $8,000 (Accounts Payable)$0 $1,000 (Cash) Feb. 22+ $300 (Office Supplies)$0$0 $300 (Cash) Feb. 23+ $36 (Accounts Receivable)$0$0 $36 (Computer Systems) Feb. 27 $4,000 (Cash)- $4,000 (Accounts Payable
11、)$0 Feb. 28+ $36 (Cash)$0$0 $36 (Accounts Receivable) 30 Minutes, Medium PROBLEM 32 ENVIRONMENTAL SERVICES, INC. a.(1) (a) The asset Accounts Receivable was increased. Increases in assets are recorded by debits. Debit Accounts Receivable, $2,500. (b) Revenue has been earned. Revenue increases owners
12、 equity. Increases in owners equity are recorded by credits. Credit Testing Service Revenue, $2,500. (2) (a) The asset Testing Supplies was increased. Increases in assets are recorded by debits. Debit Testing Supplies, $3,800. (b) The asset Cash was decreased. Decreases in assets are recorded by cre
13、dits. Credit Cash, $800. (c) The liability Accounts Payable was increased. Increases in liabilities are recorded by credits. Credit Accounts Payable, $3,000. (3) (a) The liability Accounts Payable was decreased. Decreases in liabilities are recorded by debits. Debit Accounts Payable, $100. (b) The a
14、sset Testing Supplies was decreased. Decreases in assets are recorded by credits. Credit Testing Supplies, $100. (4) (a) The asset Cash was increased. Increases in assets are recorded by debits. Debit Cash, $20,000. (b) The owners equity account Capital Stock was increased. Increases in owners equit
15、y are recorded by credits. Credit Capital Stock, $20,000. (5) (a) The asset Cash was increased. Increases in assets are recorded by debits. Debit Cash, $600. (b) The asset Accounts Receivable was decreased. Decreases in assets are recorded by credits. Credit Accounts Receivable, $600. (6) (a) The li
16、ability Accounts Payable was decreased. Decreases in liabilities are recorded by debits. Debit Accounts Payable, $2,900 ($3,800 - $800 - $100). (b) The asset Cash was decreased. Decreases in assets are recorded by credits. Credit Cash, $2,900. (7) (a) The Dividends account was increased. Dividends d
17、ecrease the owners equity account Retained Earnings. Decreases in owners equity are recorded by debits. Debit Dividends, $6,800. (b) The asset Cash was decreased. Decreases in assets are recorded by credits. Credit Cash, $6,800. PROBLEM 32 ENVIRONMENTAL SERVICES, INC. (continued) b. General Journal
18、20_(1) Aug.1 Accounts Receivable2 5 0 0 Testing Service Revenue2 5 0 0 Billed customers for services rendered. (2) 3 Testing Supplies3 8 0 0 Cash8 0 0 Accounts Payable3 0 0 0 Purchased testing supplies. (3) 5 Accounts Payable1 0 0 Testing Supplies1 0 0 Returned portion of testing supplies puchased o
19、n Aug. 3. (4) 17 Cash2 0 0 0 0 Capital Stock 2 0 0 0 0 Issued 2,500 shares of capital stock at $8 per share. (5) 22 Cash 6 0 0 Accounts Receivable 6 0 0 Received partial payment for services billed on Aug. 1. (6) 29 Accounts Payable2 9 0 0 Cash2 9 0 0 Paid outstanding balance owed for testing suppli
20、es purchased on Aug. 3. (7) 30 Dividends6 8 0 0 Cash6 8 0 0 Declared and paid a cash dividend. PROBLEM 32 ENVIRONMENTAL SERVICES, INC. (concluded) c.The realization principle requires that revenue be recorded when it is earned, even if cash for the goods or services provided has not been received. d
21、.The matching principle requires that revenue earned during an accounting period be matched (offset) with expenses incurred in generating this revenue. Testing supplies are recorded as an asset when they are first purchased. As these supplies are used in a particular accounting period, their cost wi
22、ll be matched against the revenue earned in that period. 35 Minutes, Medium PROBLEM 33 WEIDA SURVEYING, INC. a. Income StatementBalance Sheet Transaction Revenue Expenses = Net IncomeAssets = Liabilities + Owners Equity Sept. 1 NEIDDNED Sept. 3 INEIINEI Sept. 9 INEIINEI Sept. 14 NEIDNEID Sept. 25 NE
23、NENENENENE Sept. 26 INEIINEI Sept. 29 NENENEDDNE Sept. 30 NENENEDNED PROBLEM 33 WEIDA SURVEYING, INC. (concluded) b. General Journal Sept. 1 Rent Expense4 4 0 0 Cash4 4 0 0 Paid September rent. 3 Accounts Receivable5 6 2 0 Surveying Revenue5 6 2 0 Billed Fine Line Homes for surveying services. 9 Cas
24、h 2 8 3 0 Surveying Revenue 2 8 3 0 Collected cash from Sunset Ridge Development for services provided. 14 Advertising Expense 1 6 5 Accounts Payable 1 6 5 Placed ad in the newspaper to be published on Sept. 20. Total amount due in 30 days. 25 Cash 5 6 2 0 Accounts Receivable 5 6 2 0 Received paymen
25、t from Fine Line Homes for services billed on Sept. 3. 26 Cash4 0 0 Accounts Receivable1 4 9 0 Surveying Revenue1 8 9 0 Collected partial payment from Thompson and billed remainder. 29 Accounts Payable1 6 5 Cash1 6 5 Paid newspaper for advertisement published on Sept. 20. 30 Dividends7 6 0 0 Cash7 6
26、 0 0 Declared and paid a cash dividend. c.Three situations in which a cash payment does not involve an expense include: (1) the payment of a cash dividend, (2) the payment of a liability for a previously recorded expense, and (3) the purchase of an asset, including expenses paid in advance such as i
27、nsurance, rent, and advertising. 50 Minutes, Strong PROBLEM 34 AERIAL VIEWS a. Income StatementBalance Sheet Transaction Revenue Expenses = Net IncomeAssets = Liabilities + Owners Equity June 1 NENENEINEI June 2 NENENEIINE June 4 NEIDDNED June 15 INEIINEI June 15 NEIDDNED June 18 NEIDDNED June 25 NE
28、NENENENENE June 30 INEIINEI June 30 NEIDDNED June 30 NEIDNEID June 30 NENENENEID PROBLEM 34 AERIAL VIEWS (continued) b. General Journal 2005 June1 Cash 6 0 0 0 0 Capital Stock 6 0 0 0 0 Issued stock to Wendy Winger. 2 Aircraft2 2 0 0 0 0 Cash 4 0 0 0 0 Notes Payable1 8 0 0 0 0 Purchased plane from U
29、tility Aircraft. 4 Rent Expense 2 5 0 0 Cash 2 5 0 0 Paid office and hangar rent for June. 15 Accounts Receivable 8 3 2 0 Aerial Photography Revenue 8 3 2 0 Billed customers for first half of June. 15 Salaries Expense5 8 8 0 Cash5 8 8 0 Paid salaries for first half of June. 18 Maintenance Expense1 8
30、 9 0 Cash1 8 9 0 Paid Hannigans Hangar for repair services. 25 Cash4 9 1 0 Accounts Receivable 4 9 1 0 Collected portion of amount billed to customers. 30 Accounts Receivable1 6 4 5 0 Aerial Photography Revenue1 6 4 5 0 Billed customers for services rendered through month-end. 30 Salaries Expense 6
31、0 0 0 Cash 6 0 0 0 Paid salaries through month-end. 30 Fuel Expense2 5 1 0 Accounts Payable2 5 1 0 Received bill for fuel used during June. 30 Dividends2 0 0 0 Dividends Payable2 0 0 0 Declared dividend payable July 15. PROBLEM 34 AERIAL VIEWS (continued) c.Cash DateExplanationDebitCreditBalance 200
32、5 June16 0 0 0 06 0 0 0 0 24 0 0 0 02 0 0 0 0 42 5 0 01 7 5 0 0 155 8 8 01 1 6 2 0 181 8 9 09 7 3 0 254 9 1 01 4 6 4 0 306 0 0 08 6 4 0 Accounts Receivable DateExplanationDebitCreditBalance 2005 June158 3 2 08 3 2 0 254 9 1 03 4 1 0 301 6 4 5 01 9 8 6 0 Aircraft DateExplanationDebitCreditBalance 200
33、5 June 22 2 0 0 0 02 2 0 0 0 0 Notes Payable DateExplanationDebitCreditBalance 2005 June21 8 0 0 0 01 8 0 0 0 0 Accounts Payable DateExplanationDebitCreditBalance 2005 June302 5 1 02 5 1 0 PROBLEM 34 AERIAL VIEWS (continued) Dividends Payable DateExplanationDebitCreditBalance 2005 June 30 2 0 0 0 2
34、0 0 0 Capital Stock DateExplanationDebitCreditBalance 2005 June1 6 0 0 0 06 0 0 0 0 Dividends DateExplanationDebitCreditBalance 2005 June 302 0 0 02 0 0 0 Aerial Photography Revenue DateExplanationDebitCreditBalance 2005 June 15 8 3 2 08 3 2 0 301 6 4 5 02 4 7 7 0 Maintenance Expense DateExplanation
35、DebitCreditBalance 2005 June 181 8 9 01 8 9 0 PROBLEM 34 AERIAL VIEWS (continued) Fuel Expense DateExplanationDebitCreditBalance 2005 June 302 5 1 02 5 1 0 Salaries Expense DateExplanationDebitCreditBalance 2005 June 155 8 8 05 8 8 0 306 0 0 01 1 8 8 0 Rent Expense DateExplanationDebitCreditBalance
36、2005 June42 5 0 02 5 0 0 PROBLEM 34 AERIAL VIEWS (continued) d.AERIAL VIEWS Trial Balance June 30, 2005 Cash$8 6 4 0 Accounts receivable1 9 8 6 0 Aircraft2 2 0 0 0 0 Notes payable$ 1 8 0 0 0 0 Accounts payable2 5 1 0 Dividends payable2 0 0 0 Capital stock6 0 0 0 0 Retained earnings0 Dividends2 0 0 0
37、 Aerial photography revenue2 4 7 7 0 Maintenance expense1 8 9 0 Fuel expense2 5 1 0 Salaries expense1 1 8 8 0 Rent expense2 5 0 0 $ 2 6 9 2 8 0$ 2 6 9 2 8 0 PROBLEM 34 AERIAL VIEWS (concluded) e. Total assets: Cash$8 6 4 0 Accounts receivable1 9 8 6 0 Aircraft2 2 0 0 0 0 Total assets$ 2 4 8 5 0 0 To
38、tal liabilities: Notes payable$ 1 8 0 0 0 0 Accounts payable2 5 1 0 Dividends payable2 0 0 0 Total liabilities$ 1 8 4 5 1 0 Total stockholders equity: Total assets - total liabilities ($248,500 - $184,510)$6 3 9 9 0 (Alternate computationnet all owners equity accounts, permanent and temporary: $60,0
39、00 $2,000 $24,770 $1,890 $2,510 $11,880 $2,500) The above figures are most likely not the amounts to be reported in the balance sheet dated June 30. The accounting cycle includes adjustments that must be made to the trial balance figures before financial statements are prepared. The adjusting process is covered in Chapter 4. 60 Min