financial accounting 习题答案文档(2)

Ex. 2–4

(1) Cash ...................................................................... 40,000

Ira Janke, Capital ............................................

(2) Supplies ............................................................... 1,800

Cash ................................................................

(3) Equipment ............................................................ 24,000

Accounts Payable ..........................................

Cash ................................................................

(4) Operating Expenses ............................................ 3,050

Cash ................................................................

(5) Accounts Receivable .......................................... 12,000

Service Revenue ............................................

(6) Accounts Payable ................................................ 7,500

Cash ................................................................

(7) Cash ...................................................................... 9,500

Accounts Receivable .....................................

(8) Ira Janke, Drawing ............................................... 5,000

Cash ................................................................

(9) Operating Expenses ............................................ 1,050

Supplies ..........................................................

2-5 1. debit and credit (c)

2. debit and credit (c) 3. debit and credit (c) 4. credit only (b) 5. debit only (a) 6. debit only (a) 7. debit only (a)

2-6

a. Liability—credit f. Revenue—credit b. Asset—debit g. Asset—debit c. Asset—debit h. Expense—debit d. Owner's equity i. Asset—debit (Cindy Yost, Capital)—credit j. Expense—debit

e. Owner's equity

(Cindy Yost, Drawing)—debit 40,000 1,800 15,000 9,000 3,050 12,000 7,500 9,500 5,000 1,050

2-7

a. credit g. debit b. credit h. debit c. debit i. debit d. credit j. credit e. debit k. debit f. credit

l. credit

2-8

a. Debit (negative) balance of $1,500 ($10,500 – $4,000 – $8,000). Such a

negative balance means that the liabilities of Seth’s business exceed the assets.

b. Yes. The balance sheet prepared at December 31 will balance, with Seth Fite, Capital, being reported in the owner’s equity section as a negative $1,500. 2-9

a. The increase of $28,750 in the cash account does not indicate earnings of that amount. Earnings will represent the net change in all assets and liabilities from operating transactions. b. $7,550 ($36,300 – $28,750)

2-10

a. $40,550 ($7,850 + $41,850 – $9,150) b. $63,000 ($61,000 + $17,500 – $15,500) c. $20,800 ($40,500 – $57,700 + $38,000)

2-11 2005 Aug. 1 Rent Expense .......................................................

1,500

Cash ................................................................

2 Advertising Expense ........................................... 700

Cash ................................................................

4 Supplies ............................................................... 1,050

Cash ................................................................

6 Office Equipment ................................................. 7,500

Accounts Payable ..........................................

1,500 700 1,050 7,500

8 12 20 25 30 31 31

Cash ...................................................................... Accounts Receivable ..................................... Accounts Payable ................................................ Cash ................................................................ Gayle McCall, Drawing ........................................ Cash ................................................................ Miscellaneous Expense ...................................... Cash ................................................................ Utilities Expense .................................................. Cash ................................................................ Accounts Receivable .......................................... Fees Earned .................................................... Utilities Expense .................................................. Cash ................................................................

3,600

1,150

1,000

500

195

10,150

380

3,600 1,150 1,000 500 195 10,150 380

a.

2-12

Description

JOURNAL

Post. Ref.

Debit

Page 43

Credit

Date

2006

Oct. 27 Supplies .................................................. Accounts Payable .............................. Purchased supplies on account.

b., c., d.

15 21 1,320

1,320

Supplies

Date

Post. Balance Ref.

Dr.

Cr.

Dr.

15

Item Cr.

2006

Oct. 1 Balance ................................. 27 ...............................................

? 43 ? 43

........... ........... 585 ........... 1,320 ........... 1,905 ...........

21

........... ........... ........... 6,150 ........... 1,320 ........... 7,470

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