PDF Connect Chapter 2 Homework - MGMT-026

award:

1. 1 o ut o f 1.00 point

??????????????????????????????u5;;?111eiiii0imaiioi1?:;1eaci1oi ?111e?1c;i10wiiiiiseparaiecasesi0caicuiaieffielii11-- Fees earned

g.

Rent expense

- Cash

h.

Cash

Accounts receivable >-

I.

1K. Spade, Withdrawals

Cash

./

8,157. /

>--

. ti

I

?- 8,157./

./

3, 127./

./

3,127. /

./

. ti

- 530./-

530. /

1

./

1,313. /

"t

- >--e

1,31 3./

./

900. /

./'.

900. /I

Post the abov e journal entries to T-accounts, which serves as the general ledger for this assignment. Determine the ending balance of each T-account.

a.

./

d.

./

11.

./

Balance

Cash 14,750.tl b

1,740./l e. 1,31 3./19 ?

11.

7,788 :

./

428. /1 f

./

8,15 7. /

./

530. /

./

I

900. /

I

I'

Balance

Accounts Receivable

'

.

I

I 1,81 4

? Red t,:xt 1nd-cat~s no respon~ w-a-s .:xpected 1n a ce ll or a fcnru la ? bas~ calcu ?ation 1s i:icorrect:

no point'S de ducted

I

Office Supplies

JI

b.

./

+

428. /I

I

+

c.

Office Equipment

./

8.15 7. /I

+ _ [,

-

j Balance

428

Balance

8, 157

I

x

Accoun~ayable Xe

L

-.I

'8.1 57.,I'

I

IBalance

8,157

@alance

* Red t~Kt ind?ca.tes no resirons:.e v1as ex oect~d ir. a cell or a forrru!a?baie-:I calcu ation is incorrect;

no points dedu.aed

K. Spade, Withdrawals

I.

./

900.11

-

IBalance

I

I900

I

I'

Balance

- rm

K. Spade, Capital

--

I a.

./

?1

4

I

I

Fees Earned

--

Id

./

It.

.I

I

I

Rent Expense

I

r=

530.11

I

IBalance

530 1?

*Red text ind?c.at.:s no responsa \11as exDect~d in a cell or a forrrula?bas~ calcu aticn is i-,correct; no points de.ducted.

1'313. /'

I

I

I

14,750. /

14,750

I

1,74 0. /' 3,127. /

I I 4,867

award:

4.

1 out of 1.00 point

The transactions of Spade Company:

a. Kacy Spade, ow ner, invested $10,250 cash in tlhe company. b. The company purc hased office supplies for $297 cash.

c. The company purchased $5,668 of office equipment on credit. d . The company received $1 ,210 cash as fees for services provided to a customer. e. The company paid $5,668 cash to settle the pay able for the office equipment purchased in transaction c. f. The company billed a customer $2 ,173 as fees for services provided.

g . The company paid $515 cash for the monthly rent. h. The company collected $913 cash as partial pay ment for the account receivable created in transaction f. i. Kacy Spade, withdrew $900 cash from the company for personal use.

Prepare the Trial Balance. (Th e items in the Tr ial Balanc e shou ld be grouped as follows: Assets, Liabil ities, Equ ity, Revenues, and Expenses .)

SPADE COMPANY

Trial Balance

May 31 , 2013

Debit

Cash Office supplies Office equipment Accounts receivable Accounts payable K. Spade, Capital K. Spade, Withdrawals Fees earned Rent expense

Totals

./ $

4,993. /

./

297.,/

./

5,668. /

./

1,260. /

./

./

./

900. /

./

./

515. /

$

13,633 1$

Credit

10,250. / 3,383. / 13,633

award:

5.

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1 out of

1.00 point

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