FINANCIAL AND MANAGERIAL ACCTG W/ACC CRD
9th Edition
ISBN: 9781266515071
Author: Wild
Publisher: MCG CUSTOM
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Textbook Question
Chapter 3, Problem 3SP
| No | Account Title | Debit | Credit |
| 101 | Cash | $38,264 | |
| 106 | Accounts receivable | 12,618 | |
| 126 | Computer supplies | 2,545 | |
| 128 | Prepaid insurance | 2,220 | |
| 131 | Prepaid rent | 3,300 | |
| 163 | Office equipment | 8,000 | |
| 164 | $ 0 | ||
| 167 | Computer equipment | 20,000 | |
| 168 | Accumulated depreciation—Computer equipment | 0 | |
| 201 | Accounts payable | 0 | |
| 210 | Wages payable | 0 | |
| 236 | Unearned computer services revenue | 0 | |
| 307 | Common stock | 73,000 | |
| 318 | 0 | ||
| 319 | Dividends | 5,600 | |
| 403 | Computer services revenue | 25,659 | |
| 612 | Depreciation expense—Office equipment | 0 | |
| 613 | Depreciation expense—Computer equipment | 0 | |
| 623 | Wages expense | 2,625 | |
| 637 | Insurance expense | 0 | |
| 640 | Rent expense | 0 | |
| 652 | Computer supplies expense | 0 | |
| 655 | Advertising expense | 1,728 | |
| 676 | Mileage expense | 704 | |
| 677 | Miscellaneous expenses | 250 | |
| 684 | Repairs expense—Computer | 805 | |
| Total | $98,659 | $98,659 | |
The following additional facts are collected for use in making
- The December 31 inventory count of computer supplies shows $580 still available.
- Three months have expired since the 12-month insurance premium was paid in advance.
- As of December 31, Lyn Addie has not been paid for four days of work at $125 per day.
- The computer system, acquired on October 1, is expected to have a four-year life with no salvage value.
- The office equipment, acquired on October 1, is expected to have a five-year life with no salvage value.
- Three of the four months’ prepaid rent have expired.
Required
- Prepare
journal entries to record each of the December transactions and events for Business Solutions - Prepare adjusting entries to record each of the December
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Students have asked these similar questions
Account name
Debit CAD$
Credit CAD$
Cash
423,177
Accounts receivable
137,000
Prepaid insurance
5,400
Inventory
149,000
Machinery
53,000
Accumulated depreciation – Machinery
25,864
Furniture and Fixtures
123,000
Accumulated depreciation – Furniture and Fixtures
30,750
Computer equipment
4,650
Accounts payable
45,000
Dividends payable
10,000
Contributed capital
75,000
Retained earnings
140,386
Revenue
2,630,000
Purchases
606,800
Salaries and wages expense
1,281,913
Advertising expense
16,000
Repairs and maintenance
18,370
Rent expense
96,000
Laundry expense
18,250
Utilities expense
14,440
Administrative expense
10,000
$2,957,000
$2,957,000
question # 8 from the photos, how would I calculate it and what would the journal entries be like
UNADJUSTED TRIAL BALANCE:
Cash
₱179,670.12
Accounts receivable
37,000.00
Tools
12,368.50
Furniture & Fixtures
15,530.00
Office equipment
24,000.00
Repair equipment
57,000.00
Notes payable
₱3,000.00
Accounts payable
49,367.80
Loans Payable
80,000.00
D. Maputin, Capital
152,368.50
D. Maputin,Withdrawals
5,000.00
Repair income
120,370.25
Rental income
2,500.00
Salaries expense
50,328.00
Rent expense
3,800.00
Supplies expense
2,367.80
Light and water expense
9,634.88
Gas and oil expense
3,000.00
Communication expense
2,156.75
Taxes and licenses expense
1,250.50
Advertising expense
4,500.00
Totals…
UNADJUSTED TRIAL BALANCE:
Cash
₱179,670.12
Accounts receivable
37,000.00
Tools
12,368.50
Furniture & Fixtures
15,530.00
Office equipment
24,000.00
Repair equipment
57,000.00
Notes payable
₱3,000.00
Accounts payable
49,367.80
Loans Payable
80,000.00
D. Maputin, Capital
152,368.50
D. Maputin,Withdrawals
5,000.00
Repair income
120,370.25
Rental income
2,500.00
Salaries expense
50,328.00
Rent expense
3,800.00
Supplies expense
2,367.80
Light and water expense
9,634.88
Gas and oil expense
3,000.00
Communication expense
2,156.75
Taxes and licenses expense
1,250.50
Advertising expense
4,500.00
Totals…
Chapter 3 Solutions
FINANCIAL AND MANAGERIAL ACCTG W/ACC CRD
Ch. 3 - Prob. 1QSCh. 3 - Computing accrual and cash income C1 In its first...Ch. 3 - Identifying accounting adjustments P1 Classify the...Ch. 3 - Prob. 4QSCh. 3 - Prepaid (deferred) expenses adjustments P1 For...Ch. 3 - Prepaid (deferred) expense adjustments P1 For each...Ch. 3 - Prob. 7QSCh. 3 - Prob. 8QSCh. 3 - Prob. 9QSCh. 3 - Prob. 10QS
Ch. 3 - Prob. 11QSCh. 3 - Prob. 12QSCh. 3 - Prob. 13QSCh. 3 - Prob. 14QSCh. 3 - Prob. 15QSCh. 3 - Prob. 16QSCh. 3 - Prob. 17QSCh. 3 - Prob. 18QSCh. 3 - Prob. 19QSCh. 3 - Prob. 20QSCh. 3 - Prob. 21QSCh. 3 - Prob. 22QSCh. 3 - Prob. 23QSCh. 3 - Identifying post-closing accounts P5 Identify...Ch. 3 - identifying the accounting cycle C2 List the...Ch. 3 - Prob. 26QSCh. 3 - Prob. 27QSCh. 3 - Prob. 28QSCh. 3 - Prob. 29QSCh. 3 - Prob. 30QSCh. 3 - Prob. 31QSCh. 3 - Prob. 32QSCh. 3 - Prob. 33QSCh. 3 - Prob. 34QSCh. 3 - Prob. 35QSCh. 3 - Prob. 36QSCh. 3 - Prob. 37QSCh. 3 - Prob. 38QSCh. 3 - Prob. 39QSCh. 3 - Prob. 40QSCh. 3 - Prob. 1ECh. 3 - Prob. 2ECh. 3 - Prob. 3ECh. 3 - Prob. 4ECh. 3 - Prob. 5ECh. 3 - Prob. 6ECh. 3 - Prob. 7ECh. 3 - Prob. 8ECh. 3 - Prob. 9ECh. 3 - Prob. 10ECh. 3 - Prob. 11ECh. 3 - Prob. 12ECh. 3 - Prob. 13ECh. 3 - Prob. 14ECh. 3 - Prob. 15ECh. 3 - Prob. 16ECh. 3 - Prob. 17ECh. 3 - Prob. 18ECh. 3 - Prob. 19ECh. 3 - Prob. 20ECh. 3 - Prob. 21ECh. 3 - Prob. 22ECh. 3 - Prob. 23ECh. 3 - Prob. 24ECh. 3 - Prob. 25ECh. 3 - Prob. 26ECh. 3 - Prob. 27ECh. 3 - Prob. 28ECh. 3 - Prob. 29ECh. 3 - Prob. 30ECh. 3 - Prob. 31ECh. 3 - Prob. 32ECh. 3 - Prob. 33ECh. 3 - Prob. 34ECh. 3 - Prob. 35ECh. 3 - Prob. 36ECh. 3 - Prob. 37ECh. 3 - Prob. 1PSACh. 3 - Prob. 2PSACh. 3 - Prob. 3PSACh. 3 - Prob. 4PSACh. 3 - Prob. 5PSACh. 3 - Prob. 6PSACh. 3 - Prob. 7PSACh. 3 - Prob. 8PSACh. 3 - Prob. 9PSACh. 3 - Prob. 10PSACh. 3 - Prob. 11PSACh. 3 - Prob. 1PSBCh. 3 - Prob. 2PSBCh. 3 - Prob. 3PSBCh. 3 - Prob. 4PSBCh. 3 - Prob. 5PSBCh. 3 - Prob. 6PSBCh. 3 - Prob. 7PSBCh. 3 - Prob. 8PSBCh. 3 - Prob. 9PSBCh. 3 - Prob. 10PSBCh. 3 - Prob. 11PSBCh. 3 - No Account Title Debit Credit 101 Cash $38,264 106...Ch. 3 - Prob. 1GLPCh. 3 - Prob. 2GLPCh. 3 - Prob. 3GLPCh. 3 - Prob. 4GLPCh. 3 - Prob. 1.1AACh. 3 - Prob. 1.2AACh. 3 - Prob. 1.3AACh. 3 - Prob. 1.4AACh. 3 - Prob. 2.1AACh. 3 - Prob. 2.2AACh. 3 - Prob. 2.3AACh. 3 - Prob. 2.4AACh. 3 - Prob. 3.1AACh. 3 - Prob. 3.2AACh. 3 - What is the difference between the cash basis and...Ch. 3 - Why is the accrual basis of accounting generally...Ch. 3 - What type of business is most likely to select a...Ch. 3 - Prob. 4DQCh. 3 - Prob. 5DQCh. 3 - Prob. 6DQCh. 3 - Prob. 7DQCh. 3 - Prob. 8DQCh. 3 - Prob. 9DQCh. 3 - Prob. 10DQCh. 3 - Prob. 11DQCh. 3 - Prob. 12DQCh. 3 - Prob. 13DQCh. 3 - Prob. 14DQCh. 3 - Prob. 15DQCh. 3 - Prob. 16DQCh. 3 - Prob. 17DQCh. 3 - Prob. 18DQCh. 3 - Prob. 1BTNCh. 3 - Prob. 4BTN
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