BuyFind

College Accounting (Book Only): A ...

12th Edition
Cathy J. Scott
Publisher: Cengage Learning
ISBN: 9781305084087
BuyFind

College Accounting (Book Only): A ...

12th Edition
Cathy J. Scott
Publisher: Cengage Learning
ISBN: 9781305084087

Solutions

Chapter 2, Problem 3PB

1.

To determine

Record the owners’ name in the Capital and drawing T-accounts.

2, 3 & 4

To determine

Correctly place the plus and minus signs for each T-account and label the debit and credit sides of the accounts, Record the transactions in the T-accounts and write the letter of each entry to identify the transaction and show the balances.

5.

To determine

Prepare a trial balance as of July 31.

6.

To determine

Prepare an income statement for July 31.

7.

To determine

Prepare a statement of owners’ equity for July 31.

8.

To determine

Prepare a balance sheet as of July 31.

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