Professional Documents
Culture Documents
6.
(a)
(b)
(c)
(d)
(e)
(f)
(g)
7.
(a)
(b)
(c)
(d)
(e)
8.
(a)
(b)
(c)
9.
(1)
(2)
(3)
(4)
(5)
(6)
19.
SOLUTIONSTO BRIEFEXERCISES
BRIEFEXERCISE2-2
June 1
2
3
12
AccountDebited
Cash
Equipment
RentExpense
AccountsReceivable
AccountCredited
OwnersCapital
AccountsPayable
Cash
ServiceRevenue
BRIEFEXERCISE2-3
Copyright 2011 John Wiley & Sons, Inc.Weygandt, Accounting Principles, 10/e, Solutions Manual(For Instructor Use Only)
2-1
June
Cash................................................................. 5,000
OwnersCapital..................................................
12
5,000
Equipment.................................................................
AccountsPayable...............................................
2,100
RentExpense.............................................................
Cash.................................................................
800
AccountsReceivable...................................................
ServiceRevenue.................................................
300
2,100
800
300
BRIEFEXERCISE2-7
5/12
5/15
EndingBal.
5/5
Cash
2,400
3,000
5,400
AccountsReceivable
4,100 5/12
EndingBal.
ServiceRevenue
5/5
5/15
EndingBal.
4,100
3,000
7,100
2,400
1,700
BRIEFEXERCISE2-8
Cash
Date
May 12
15
Explanation
Ref.
J1
J1
Debit
2,400
3,000
Credit
Balance
2,400
5,400
Copyright 2011 John Wiley & Sons, Inc.Weygandt, Accounting Principles, 10/e, Solutions Manual(For Instructor Use Only)
2-2
BRIEFEXERCISE2-8 (Continued)
AccountsReceivable
Date
Explanation
May 5
12
Ref.
J1
J1
Debit
4,100
ServiceRevenue
Date
Explanation
May 5
15
Ref.
J1
J1
Debit
Credit
2,400
Balance
4,100
1,700
Credit
4,100
3,000
Balance
4,100
7,100
BRIEFEXERCISE2-9
AFALAVACOMPANY
Trial Balance
June30, 2012
Cash................................................................................
AccountsReceivable.........................................................
Equipment........................................................................
AccountsPayable..............................................................
OwnersCapital.................................................................
OwnersDrawings.............................................................
ServiceRevenue...............................................................
Salariesand WagesExpense..............................................
RentExpense....................................................................
Debit
$ 5,800
3,000
17,000
Credit
$ 9,000
15,000
1,200
10,000
6,000
1,000
$34,000
$34,000
Copyright 2011 John Wiley & Sons, Inc.Weygandt, Accounting Principles, 10/e, Solutions Manual(For Instructor Use Only)
2-3
BRIEFEXERCISE2-10
WALTERCOMPANY
Trial Balance
December31, 2012
Cash................................................................................
PrepaidInsurance.............................................................
AccountsPayable..............................................................
UnearnedServiceRevenue.................................................
OwnersCapital.................................................................
OwnersDrawings.............................................................
ServiceRevenue...............................................................
Salariesand WagesExpense..............................................
RentExpense....................................................................
Debit
$10,800
3,500
Credit
$ 3,000
2,200
9,000
4,500
25,600
18,600
2,400
$39,800
$39,800
Copyright 2011 John Wiley & Sons, Inc.Weygandt, Accounting Principles, 10/e, Solutions Manual(For Instructor Use Only)
2-4
SOLUTIONSTO EXERCISES
EXERCISE2-1
1.
2.
3.
4.
5.
True.
Copyright 2011 John Wiley & Sons, Inc.Weygandt, Accounting Principles, 10/e, Solutions Manual(For Instructor Use Only)
2-5
Copyright 2011 John Wiley & Sons, Inc.Weygandt, Accounting Principles, 10/e, Solutions Manual(For Instructor Use Only)
(a)
Basic
Type
(b)
Specific
Account
Jan. 2
Asset
AccountCredited
Effect
(d)
Normal
Balance
(a)
Basic
Type
(b)
Specific
Account
Effect
(d)
Normal
Balance
Cash
Increase
Debit
Owners
Equity
Owners
Capital
Increase
Credit
Asset
Equipment
Increase
Debit
Asset
Cash
Decrease
Debit
Asset
Supplies
Increase
Debit
Liability
Accounts
Payable
Increase
Credit
11
Asset
Accounts
Receivable
Increase
Debit
Owners
Equity
Service
Revenue
Increase
Credit
16
Owners
Equity
Advertising
Expense
Increase
Debit
Asset
Cash
Decrease
Debit
20
Asset
Cash
Increase
Debit
Asset
Accounts
Receivable
Decrease
Debit
23
Liability
Accounts
Payable
Decrease
Credit
Asset
Cash
Decrease
Debit
28
Owners
Equity
Owners
Drawings
Increase
Debit
Asset
Cash
Decrease
Debit
Transaction
(c)
EXERCISE 2-2
2-16
AccountDebited
(c)
EXERCISE2-5
Date
Oct. 1
GeneralJournal
AccountTitlesand Explanation
Cash.....................................................
............................................................
OwnersCapital............................
Ref.
Debits
15,000
15,000
No entry.
Equipment............................................
AccountsPayable.........................
1,900
AccountsReceivable..............................
ServiceRevenue...........................
3,600
AccountsPayable..................................
Cash...........................................
1,100
Salariesand WagesExpense...................
Cash...........................................
2,500
27
30
Credit
1,900
3,600
1,100
Copyright 2011 John Wiley & Sons, Inc.Weygandt, Accounting Principles, 10/e, Solutions Manual(For Instructor Use Only)
2,500
2-7
EXERCISE2-6
(a)
1.
2.
3.
(b)
1.
Cash.....................................................................
NotesPayable.................................................
Equipment.............................................................
Cash..............................................................
Supplies................................................................
AccountsPayable............................................
2.
3.
5,000
5,000
3,100
3,100
850
850
EXERCISE2-9
(a)
Cash
Aug. 15,000
Aug.12
10
2,400
31
900
Bal.
5,300
AccountsReceivable
Aug.25
1,700 Aug.31
Bal.
800
Aug.12
25
3,000
Bal.
1,700
4,100
900
Equipment
5,000
NotesPayable
Aug.12
2,000
OwnersCapital
Aug. 1
5,000
ServiceRevenue
Aug. 10
2,400
Copyright 2011 John Wiley & Sons, Inc.Weygandt, Accounting Principles, 10/e, Solutions Manual(For Instructor Use Only)
2-8
(b)
CONSUELABROWN,INVESTMENTBROKER
Trial Balance
August31, 2012
Cash............................................................................
AccountsReceivable......................................................
Equipment....................................................................
NotesPayable...............................................................
OwnersCapital.............................................................
ServiceRevenue............................................................
Debit
$ 5,300
800
5,000
$11,100
Credit
$ 2,000
5,000
4,100
$11,100
Copyright 2011 John Wiley & Sons, Inc.Weygandt, Accounting Principles, 10/e, Solutions Manual(For Instructor Use Only)
2-9
EXERCISE2-10
(a)
Date
Apr. 1
GeneralJournal
AccountTitlesand Explanation
Cash......................................................
Ref.
Debit
12,000
Credit
12,000
OwnersCapital..................................
(Ownersinvestmentof
cashin business)
12
Cash......................................................
900
900
ServiceRevenue.................................
(Receivedcashfor
servicesprovided)
15
25
29
SalariesandWagesExpense....................
Cash.................................................
(Paidsalariesto date)
1,300
AccountsPayable...................................
Cash.................................................
(Paidcreditorson account)
1,500
Cash......................................................
400
1,300
1,500
400
AccountsReceivable...........................
(Receivedcashin payment
of account)
30
Cash......................................................
1,000
1,000
UnearnedServiceRevenue..................
(Receivedcashfor future
services)
Copyright 2011 John Wiley & Sons, Inc.Weygandt, Accounting Principles, 10/e, Solutions Manual(For Instructor Use Only)
2-10
EXERCISE2-10 (Continued)
(b)
BENNETLANDSCAPINGCOMPANY
Trial Balance
April 30, 2012
Cash..............................................................................
AccountsReceivable.......................................................
Supplies.........................................................................
AccountsPayable............................................................
UnearnedServiceRevenue...............................................
OwnersCapital...............................................................
ServiceRevenue.............................................................
Salariesand WagesExpense............................................
Debit
$11,500
2,800
1,800
Credit
300
1,000
12,000
4,100
1,300
$17,400
$17,400
Copyright 2011 John Wiley & Sons, Inc.Weygandt, Accounting Principles, 10/e, Solutions Manual(For Instructor Use Only)
2-11
SOLUTIONSTO PROBLEMS
PROBLEM2-1A
Date
AccountTitlesand Explanation
Apr. 1
Cash
Ref.
Debit
35,000
OwnersCapital..................................
(Ownersinvestmentof cash
in business)
4
Land
35,000
27,000
Cash.................................................
(Purchasedlandfor cash)
11
27,000
AdvertisingExpense...................................
AccountsPayable...............................
(Incurredadvertising
expenseon account)
1,800
SalariesandWagesExpense........................
Cash.................................................
(Paidsalaries)
1,500
1,800
1,500
12
No entryNota transaction.
13
PrepaidInsurance.......................................
Cash.................................................
(Paidfor one-year
insurancepolicy)
1,650
OwnersDrawings.......................................
Cash.................................................
(Withdrewcashfor personal
use)
1,000
17
J1
Credit
1,650
Copyright 2011 John Wiley & Sons, Inc.Weygandt, Accounting Principles, 10/e, Solutions Manual(For Instructor Use Only)
1,000
2-12
20
Cash
6,800
ServiceRevenue.................................
(Receivedcashfor services
provided)
Copyright 2011 John Wiley & Sons, Inc.Weygandt, Accounting Principles, 10/e, Solutions Manual(For Instructor Use Only)
6,800
2-13
PROBLEM2-1A (Continued)
Date
AccountTitlesand Explanation
Apr. 25
Cash.........................................................
................................................................
UnearnedServiceRevenue....................
(Receivedcashfor future
services)
2,500
Cash.........................................................
................................................................
ServiceRevenue.................................
(Receivedcashfor services
provided)
8,900
AccountsPayable......................................
Cash..................................................
(Paidcreditoron account)
900
30
30
Ref.
Debit
Credit
2,500
8,900
Copyright 2011 John Wiley & Sons, Inc.Weygandt, Accounting Principles, 10/e, Solutions Manual(For Instructor Use Only)
900
2-14
PROBLEM2-3A
(4)
(7)
Balance
(7)
Balance
(2)
Balance
Balance
(5)
Cash
8,000
(1)
(3)
14,000
(5)
6,000
(8)
(9)
3,500
AccountsReceivable
15,000
(4)
9,000
10,000
Supplies
13,000
4,200
(6)
13,200
OwnersCapital
Balance
1,000
2,000
15,000
(9)
3,500
3,000
OwnersDrawings
3,000
3,000
ServiceRevenue
(7)
15,000
15,000
14,000
(1)
AdvertisingExpense
1,000
1,000
(3)
MiscellaneousExpense
2,000
2,000
(6)
SuppliesExpense
4,000
4,000
(8)
SalariesandWagesExpense
3,500
3,500
4,000
PrepaidRent
3,000
3,000
Equipment
20,000
20,000
AccountsPayable
Balance
(2)
15,000
40,000
40,000
19,000
4,200
8,200
Copyright 2011 John Wiley & Sons, Inc.Weygandt, Accounting Principles, 10/e, Solutions Manual(For Instructor Use Only)
2-15
PROBLEM2-3A (Continued)
(b)
Trans.
1.
2.
3.
4.
5.
6.
7.
8.
9.
AccountTitlesand Explanation
Debit
AdvertisingExpense......................................
Cash...................................................
1,000
Supplies.......................................................
AccountsPayable................................
4,200
MiscellaneousExpense..................................
Cash...................................................
2,000
Cash............................................................
AccountsReceivable............................
14,000
AccountsPayable..........................................
Cash...................................................
15,000
SuppliesExpense..........................................
Supplies..............................................
4,000
Cash............................................................
AccountsReceivable.....................................
ServiceRevenue..................................
6,000
9,000
Salariesand WagesExpense..........................
Cash...................................................
3,500
OwnersDrawings.........................................
Cash...................................................
3,000
Credit
1,000
4,200
2,000
14,000
15,000
4,000
15,000
3,500
3,000
PROBLEM2-3A (Continued)
(d)
MEGAREPAIRSERVICE
Trial Balance
January31, 2012
Debit
Cre
dit
Cash........................................................................
AccountsReceivable..................................................
Supplies...................................................................
PrepaidRent.............................................................
Equipment................................................................
AccountsPayable......................................................
OwnersCapital.........................................................
OwnersDrawings.....................................................
ServiceRevenue........................................................
AdvertisingExpense..................................................
MiscellaneousExpense..............................................
SuppliesExpense......................................................
Salariesand WagesExpense......................................
$ 3,500
10,000
13,200
3,000
20,000
$ 8,200
40,000
3,000
15,000
1,000
2,000
4,000
3,500
$63,200
$63,200