Assignment # 6

ASM Nahidul Haque

ID: 17374016

Problem 1
a Cash 5000
Supplies Expense 5000

b Accounts Payable 1000

Equipment 1000

Problem 2

A Current Assets = 5500+11000+1000 = 17500

B Total Labilities = 2000

Problem 3
Juxton Company
Balance Sheet
For the year ended on Dec 31, 2008

Assets
Current Asset
Liabilities and Owners Equity
Cash 2600
Short term Current Liabilities
investments 1000 Accounts Payable 2700
Accounts receivable 1500 Total Current Liabilities 2700
Total current assets 5100
Long Term Liabilities
Long term Investment 6900 Notes Payable(Due in 5
Years) 7500
Property, Plant and Equipment
Equipment 7500 Total Long Term Liabilities 7500
Less: Accumulated
Total Liabilities 10200
depreciation,
equipment 4000
Owners Equity
3500
Juxton, Capital 7800
Intangible Assets 2500
Total Assets
Total Libilities and Owners equity 18000
18000
Problem 4
a
1 Shoe repair revenue 7500 b Gentry's Shoe Repair Company
Income Summary 7500 Owners Equity Statement
For the month ended on April 30, 2008
2 Income Summary 5800 Gentry, Capital, April 1 12900
Salaries Expense 3400 Add: Net Income 1700
Depreciation Expense 350 14600
Utilities Expense 400 Less: Drawing 3000
Rent Expense 600 Gentry, Capital, April 30 11600
Supplies Expense 1050

3 Income Summary 1700

Gentry, Capital 1700

4 Gentry, Capital 3000

Drawings 3000

Problem 5
Items 1 2 3 4 5 6 7 8 9 10
Ans: C G H E H A D A F B