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College Accounting, Chapters 1-27

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter10: Accounting For Sales And Cash Receipts

Section: Chapter Questions

Problem 3MC

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Mr. J, Capital
Office Equipment
Accounts Payable
85 000.00 Notes Receivable
1 200.00
12 000.00 Notes Payable
8 000.00
16 600.00 Interest Income
360.00
Communications
Expense
21 500.00 Interest Expense
Postage and Stamps
Еxpense
Cash
18 540.00
1 250.00
Tools
220.00
Mr. J, Drawing
10 000.00
50.00
Accounts
21 460.00 Insurance Expense
4 100.00
Receivable
Mortgage Payable
Loan Payable
|(Short Term)
30 000.00 Service Vehicle
84 700.00
20 000.00 Utilities Expense
160.00
Service Income
78 560.00 Supplies Expense
3 150.00
Furniture and
Fixtures
Salaries Expense
8 900.00 Shop Equipment
36 290.00
21 000.00 Rental Income
6 000.00
Income statement

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