会计学原理英文版一单元习题(9)

$78,000 Equity

I. Magic, Capital….. Total liabilities and equity……………..

60,000 $78,000 Assets

MAGIC VIDEO GAMES

Balance Sheet September 9 Liabilities

Accounts payable….

Notes payable……. Equity

I. Magic, Capital….. Total liabilities and equity……………..

$2,000 18,000

Cash……………………. $48,000 Office supplies………… 2,000 Land……………………. 10,000 Building………………… 20,000 Total assets…………..

$80,000

60,000 $80,000 MAGIC VIDEO GAMES

Balance Sheet September 11

Assets Liabilities

Cash……………………. $42,000 Accounts payable…. Office supplies………… 2,000 Notes payable……. Land……………………. Building………………… Office furniture………… Total assets…………..

10,000 20,000 6,000 $80,000 Equity

I. Magic, Capital…..

Total liabilities and equity……………..

$ 2,000 18,000

60,000 $80,000 Assets

MAGIC VIDEO GAMES

Balance Sheet September 15 Liabilities

Cash……………………. $32,000 Accounts payable…. Office supplies………… 2,000 Notes payable……. Land……………………. Building…………………

10,000 Equity

20,000 I. Magic, Capital…..

$ 2,000 18,000 60,000 Office furniture………… 6,000 Total liabilities and Total assets………….. $70,000 equity……………..

$70,000 Required: Describe the nature of each of these five transactions for the month of September.

Sept

1 5 9 11 15

212. Identify the risk and the return in each of the following examples. a. Investing $500 in a CD at 4.5% interest. b. Placing a $100 bet on an NBA game. c. Investing $10,000 in Microsoft stock. d. Borrowing $20,000 in student loans.

213. Prepare a November 30 balance sheet in proper form for Green Bay Delivery Service from the following alphabetical list of the accounts at November 30: Accounts receivable………………….. Accounts payable…………………………..

$10,000 18,000

Building…………………………………….... 28,000 Cash………………………….…………….... 8,000 Notes payable………………………………. 45,000 Office equipment……………...…………….. 12,000 R. Perkins, Capital………………………….. ? Trucks……………………………………….. 55,000

214. Prepare a December 31 balance sheet in proper form for Surety Insurance using the following accounts and amounts: Commissions earned……....... $40,000 Accounts payable……………… 3,500 Accounts receivable…………… 5,000 M. Bruno, Capital……………… 103,500 Office equipment………………. 10,000 Advertising expense…………. 3,200 Cash…………………………….. 7,500 Land...................................... 35,000 Note payable.......................... 50,000 Office supplies........................ 500 Salaries expense.................... 12,000

Salaries payable..................... 1,000 Building............................... 100,000

215. From the information given below, prepare a November income statement, a November statement of owner’s equity, and a November 30 balance sheet. On November 1 of the current year, Lois Bell began Lois Bell, Interior Design with an initial investment of $50,000 cash. On November 30, her records showed the following (alphabetically arranged) items and amounts.

Accounts payable……………. $12,000 Office furnishings……….. $40,000 Accounts receivable………. 23,000 Owner's withdrawals……. 6,000 Cash……………………… 17,200 Rent expense…………… 3,600 Fees earned………………. 30,000 Salaries expense………. Notes payable………………… 4,250 Telephone expense……. 216. Data for Madison Realty are as follows:

Total assets at January 1 ...................... $100,000 Total liabilities at January 1 ................. 35,000 Total revenues for the year .................. 79,000 Total expenses for the year .................. 47,000

6,200

250

The owner, Mary Madison, withdrew a total of $30,000 for personal use during the year. Using the above data, prepare Madison Realty's Statement of Owner's Equity for the year ended December 31.

217. FastForward has the following beginning cash balance and cash transactions for the month of January. Using this information prepare a statement of cash flows.

a. b. c. d. e. f. g. h. i.

Beginning cash balance…………….. Cash investment by owner………….. Cash payment toward long-term loan Cash payment of rent……………….. Purchased equipment for cash…….. Purchased store supplies for cash… Cash collected from customers……. Cash withdrawal by owner………….. Cash payment of wages…………….

$ 3,200 15,000 1,000 1,800 7,500 1,500 7,750 2,000 4,000

218. The records of Skymaster Airplane Rentals show the following information as of December 31. Skymaster withdrew $52,000 during the year for personal expenses. Prepare a December income statement, a December statement of owner’s equity, and a December 30 balance sheet.

Accounts payable .......................... Insurance expense .......................... Accounts receivable ...................... H. Skymaster, capital,

January 1 .................................... Airplanes ....................................... Notes payable ................................

$36,000 2,000 24,000

150,000 150,000 47,000

Wages expense .............................. Advertising expense ...................... Cash ...............................................

Office Furniture ............................. Maintenance expense .................... Revenues .......................................

$75,000 22,000 11,000

15,000 39,000 217,000

Hangar ...........................................

60,000