卓顶精文financial accounting 习题答案文档Word文件下载.docx
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卓顶精文financial accounting 习题答案文档Word文件下载.docx
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e.Netincome:
$45,000($425,000–$105,000–$275,000)
1-5
a.owner'
sequityb.liabilityc.assetd.assete.owner'
sequityf.asset
1-6
a.Increasesassetsandincreasesowner’sequity.
b.Increasesassetsandincreasesowner’sequity.
c.Decreasesassetsanddecreasesowner’sequity.
d.Increasesassetsandincreasesliabilities.
e.Increasesassetsanddecreasesassets.
1-7
1.increase2.decrease3.increase4.decrease
1-8
a.
(1)Saleofcateringservicesforcash,$25,000.
(2)Purchaseoflandforcash,$10,000.
(3)Paymentofexpenses,$16,000.
(4)Purchaseofsuppliesonaccount,$800.
(5)Withdrawalofcashbyowner,$2,000.
(6)Paymentofcashtocreditors,$10,600.
(7)Recognitionofcostofsuppliesused,$1,400.
b.$13,600($18,000–$4,400)
c.$5,600($64,100–$58,500)
d.$7,600($25,000–$16,000–$1,400)
e.$5,600($7,600–$2,000)
1-9
Itwouldbeincorrecttosaythatthebusinesshadincurredanetlossof$21,750.Theexcessofthewithdrawalsoverthenetincomefortheperiodisadecreaseintheamountofowner’sequityinthebusiness.
1-10
Balancesheetitems:
1,3,4,8,9,10
1-11
Incomestatementitems:
2,5,6,7
1-12
MADRASCOMPANY
StatementofOwner’sEquity
FortheMonthEndedApril30,2019
LeoPerkins,capital,April1,2019$297,200
Netincomeforthemonth$73,000
Lesswithdrawals12,000
Increaseinowner’sequity61,000
LeoPerkins,capital,April30,2019$358,200
1-13
HERCULESSERVICES
IncomeStatement
FortheMonthEndedNovember30,2019
Feesearned$232,120
Operatingexpenses:
Wagesexpense$100,100
Rentexpense35,000
Suppliesexpense4,550
Miscellaneousexpense3,150
Totaloperatingexpenses142,800
Netincome$89,320
1-14
Balancesheet:
b,c,e,f,h,i,j,l,m,n,o
Incomestatement:
a,d,g,k
1-15
1.b–investingactivity2.a–operatingactivity
3.c–financingactivity4.a–operatingactivity
1-16
a.2019:
$10,209($30,011–$19,802)
2019:
$8,312($26,394–$18,082)
b.2019:
0.52($10,209÷
$19,802)
2019:
0.46($8,312÷
$18,082)
c.Theratioofliabilitiestostockholders’equityincreasedfrom2019to2019,indicatinganincreaseinriskforcreditors.However,theassetsofTheHomeDepotaremorethansufficienttosatisfycreditorclaims.
Chapter.2
2-1
Account
AccountNumber
AccountsPayable21
AccountsReceivable12
Cash11
CoreyKrum,Capital31
CoreyKrum,Drawing32
FeesEarned41
Land13
MiscellaneousExpense53
SuppliesExpense52
WagesExpense51
2-2
BalanceSheetAccountsIncomeStatementAccounts
1.Assets
11Cash
12AccountsReceivable
13Supplies
14PrepaidInsurance
15Equipment
2.Liabilities
21AccountsPayable
22UnearnedRent
3.Owner'
sEquity
31MillardFillmore,Capital
32MillardFillmore,Drawing
4.Revenue
41FeesEarned
5.Expenses
51WagesExpense
52RentExpense
53SuppliesExpense
59MiscellaneousExpense
2-3
a.andb.
AccountDebitedAccountCredited
TransactionTypeEffectTypeEffect
(1)asset+owner'
sequity+
(2)asset+asset–
(3)asset+asset–
liability+
(4)expense+asset–
(5)asset+revenue+
(6)liability–asset–
(7)asset+asset–
(8)drawing+asset–
(9)expense+asset–
Ex.2–4
(1)Cash40,000
IraJanke,Capital40,000
(2)Supplies1,800
Cash1,800
(3)Equipment24,000
AccountsPayable15,000
Cash9,000
(4)OperatingExpenses3,050
Cash3,050
(5)AccountsReceivable12,000
ServiceRevenue12,000
(6)AccountsPayable7,500
Cash7,500
(7)Cash9,500
AccountsReceivable9,500
(8)IraJanke,Drawing5,000
Cash5,000
(9)OperatingExpenses1,050
Supplies1,050
2-5
1.debitandcredit(c)
2.debitandcredit(c)
3.debitandcredit(c)
4.creditonly(b)
5.debitonly(a)
6.debitonly(a)
7.debitonly(a)
2-6
a.Liability—creditf.Revenue—credit
b.Asset—debitg.Asset—debit
c.Asset—debith.Expense—debit
d.Owner'
sequityi.Asset—debit
(CindyYost,Capital)—creditj.Expense—debit
e.Owner'
sequity
(CindyYost,Drawing)—debit
2-7
a.creditg.debit
b.credith.debit
c.debiti.debit
d.creditj.credit
e.debitk.debit
f.creditl.credit
2-8
a.Debit(negative)balanceof$1,500($10,500–$4,000–$8,000).SuchanegativebalancemeansthattheliabilitiesofSeth’sbusinessexceedtheassets.
b.Yes.ThebalancesheetpreparedatDecember31willbalance,withSethFite,Capital,beingreportedintheowner’
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