chapter3solutionsofcha__3

chapter3solutionsofcha__3内容摘要：

ense. Chapter 3 The Adjusting Process 162 (20 min.) E 311 Stephen Perdue, Craftsman Ine Statement Month Ended May 31, 20X8 Revenues: Service revenue $12,700 Expenses: Salary expense $3,600 Rent expense 1,400 Depreciation expense 400 Supplies expense 200 Total expenses 5,600 Net ine $ 7,100 Stephen Perdue, Craftsman Statement of Owner’s Equity Month Ended May 31, 20X8 S. Perdue, capital, May 1, 20X8* $26,400 Add: Net ine 7,100 33,500 Less: Withdrawals (5,100) S. Perdue, capital, May 31, 20X8 $28,400 __________ *Alternate date: April 30, 20X8 Chapter 3 The Adjusting Process 163(continued) E 311 Stephen Perdue, Craftsman Balance Sheet May 31, 20X8 ASSETS LIABILITIES Cash $3,000 Salary payable $ 900 Accounts receivable 7,600 Supplies 800 Equipment $32,300 OWNER’S EQUITY Less: Accum. S. Perdue, capital 28,400 Deprec. (14,400) 17,900 Total liabilities and Total assets $29,300 owner’s equity $29,300 Chapter 3 The Adjusting Process 164 (15 min.) E 312 Req. 1 Bill Glaze, Attorney Ine Statement Year Ended December 31, 20X6 Revenues: Service revenue ($105,000 + $1,000) $106,000 Expenses: Salary expense ($28,000 + $1,500) $29,500 Depreciation expense—building 5,000 Depreciation expense—equipment 2,000 Supplies expense 1,000 Total expenses 37,500 Net ine $ 68,500 Req. 2 Operations were successful, as shown by the $68,500 of ine the business earned during the year. (1020 min.) E 313 Req. 1 Blackhawk Data Processing Statement of Owner’s Equity Year Ended December 31, 20X5 Kent Black, capital, December 31, 20X4 $ 90,000 Add: Investments by owner ($12,000 + $70,000) 82,000 172,000 Less: Net loss $28,000 Withdrawals ($1,500  12) 18,000 (46,000) Kent Black, capital, December 31, 20X5 $126,000 Req. 2 Owner’s equity increased from $90,000 to $126,000. The increase came from the owner’s additional investments. Chapter 3 The Adjusting Process 165(1020 min.) E 314 One mechanism for solving this exercise is to prepare the relevant Taccounts, insert the given information, and solve for the unknown amounts, shown in italics. Supplies Beg. bal. 1,500 Cash payment 8,400 Supplies expense 7,800 End bal. 2,100 Salary Payable Beg. bal. 3,700 Cash payment 84,600 Salary expense 84,000 End. bal. 3,100 Unearned Service Revenue Beg. bal. 16,300 Service revenue 182,300 Cash receipts 180,200 End. bal. 14,200 (150 min.) E 315 Reqs. 1, 3, and 6 Cash Accounts Receivable Dec. 2 14,000 Dec. 2 500 Dec. 9 1,700 Dec. 28 600 18 800 3 2,000 Bal. 1,100 21 900 12 200 Adj. 400 28 600 26 300 Bal. 1,500 30 1,600 Bal. 11,700 Supplies Equipment Dec. 5 300 Adj. 200 Dec. 3 2,000 Bal. 100 Accumulated Depreciation Equipment Furniture Adj. 50 Dec. 4 3,600 Accumulated Depreciation Furniture Accounts Payable Chapter 3 The Adjusting Process 166 Adj. 60 Dec. 26 300 Dec. 4 3,600 5 300 Bal. 3,600 Chapter 3 The Adjusting Process 167(continued) E 315 Reqs. 1, 3, and 6 Salary Payable Unearned Service Revenue Adj. 500 Adj. 300 Dec. 21 900 Bal. 600 Marsha Walker, Capital Marsha Walker, Withdrawals Dec. 2 14,000 Dec. 30 1,600 Service Revenue Dec. 9 1,700 18 800 Bal. 2,500 Adj. 400 Adj. 300 Bal. 3,200 Rent Expense Utilities Expense Dec. 2 500 Dec. 12 200 Salary Expense Depreciation Expense Equipment Adj. 500 Adj. 50 Depreciation Expense Furniture Supplies Expense Adj. 60 Adj. 200 Chapter 3 The Adjusting Process 168 (continued) E 315 Req. 2 December 2 through 18 entries are repeated from the Solution to Exercise 217 Journal DATE ACCOUNTS AND EXPLANATIONS POST. REF. DEBIT CREDIT Dec. 2 Cash 14,000 Marsha Walker, Capital 14,000 2 Rent Expense 500 Cash 500 3 Equipment 2,000 Cash 2,000 4 Furniture 3,600 Accounts Payable 3,600 5 Supplies 300 Accounts Payable 300 9 Accounts Receivable 1,700 Service Revenue 1,700 12 Utilities Expense 200 Cash 200 18 Cash 800 Service Revenue 800 (continued) E 315 Req. 2 Dec. 21 Cash 900 Unearned Service Revenue 900 21 No entry。 no transaction yet 26 Accounts Payable 300 Cash 300 28 Cash 600 Accounts Receivable 600 30 Marsha Walker, Withdrawals 1,600 Cash 1,600。