INTER. ACCOUNTING - CONNECT+ALEKS ACCESS
10th Edition
ISBN: 9781264770335
Author: SPICELAND
Publisher: MCG
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Textbook Question
Chapter 2, Problem 2.3E
T-accounts and
• LO2–3
E 2–2
Journal entries
• LO2–2
Prepare journal entries to record each of the transactions listed in E 2–1.
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M3 - Exercises 2
For each of the following accounts, state in column A the classification of the
account (Whether the account is an asset, liability, capital, revenue, or
expense), in Column B if debit or credit for increase in the account and in
column C if debit or credit for decrease, and in column D, the normal balance
of the account.
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Debit
1. Accounts Payable
2. Accounts Receivable
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4. Carlo Calma, Capital
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6. Commission Income
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Adjustment for accrued expense
structions
Chas of Accounts
Journal
Insiructions
Blue Ocean Realty Co. pays weekly salaries of $33,300 for a six-day workweek (Monday through Saturday).
Journalize the necessary adjusting entry assuming that the accounting period ends on Thursday. Refer to the chart of accounts for the exact
wording of the account titles. CNOW journals do not use lines for journal explanations. Every line on a journal page is used for debit or credit
entries. CNOW journals will automatically indent a credit entry when a credit amount is entered.
Chapter 2 Solutions
INTER. ACCOUNTING - CONNECT+ALEKS ACCESS
Ch. 2 - Explain the difference between external events and...Ch. 2 - Each economic event or transaction will have a...Ch. 2 - What is the purpose of a journal? What is the...Ch. 2 - Explain the difference between permanent accounts...Ch. 2 - Describe how debits and credits affect assets,...Ch. 2 - Describe how debits and credits affect temporary...Ch. 2 - What is the first step in the accounting...Ch. 2 - Prob. 2.8QCh. 2 - Prob. 2.9QCh. 2 - Prob. 2.10Q
Ch. 2 - What is an unadjusted trial balance? An adjusted...Ch. 2 - Define adjusting entries and discuss their...Ch. 2 - Define closing entries and their purpose.Ch. 2 - Define prepaid expenses and provide at least two...Ch. 2 - Deferred revenues represent liabilities recorded...Ch. 2 - Define accrued liabilities. What adjusting journal...Ch. 2 - Prob. 2.17QCh. 2 - [Based on Appendix A] What is the purpose of a...Ch. 2 - [Based on Appendix B] Define reversing entries and...Ch. 2 - [Based on Appendix C] What is the purpose of...Ch. 2 - Prob. 2.21QCh. 2 - Transaction analysis LO21 The Marchetti Soup...Ch. 2 - Journal entries LO22 Prepare journal entries for...Ch. 2 - Prob. 2.3BECh. 2 - Journal entries LO22 Prepare journal entries for...Ch. 2 - Adjusting entries LO25 Prepare the necessary...Ch. 2 - Adjusting entries; income determination LO24,...Ch. 2 - Prob. 2.12BECh. 2 - Journal entries LO22 Prepare journal entries to...Ch. 2 - T-accounts and trial balance LO23 Post the...Ch. 2 - Prob. 2.5ECh. 2 - Debits and credits LO22 Indicate whether a debit...Ch. 2 - Prob. 2.7ECh. 2 - Prob. 2.8ECh. 2 - Reversing entries Appendix 2B The employees of...Ch. 2 - Special journals Appendix 2C The White Companys...Ch. 2 - Prob. 2.24ECh. 2 - Prob. 2.3PCh. 2 - Prob. 2.4PCh. 2 - Prob. 2.8PCh. 2 - Prob. 2.12PCh. 2 - Judgment Case 21 Cash versus accrual accounting;...Ch. 2 - Communication Case 23 Adjusting entries LO24 I...Ch. 2 - Prob. 2.1DA
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