Download Horngren 9th Edition Solutions Ch2 PDF

TitleHorngren 9th Edition Solutions Ch2
TagsDebits And Credits Retained Earnings Expense Financial Accounting Balance Sheet
File Size343.3 KB
Total Pages119
Table of Contents
                            Chapter 2
	Transaction Analysis
		Short Exercises
			Journal
			Cash……………………………………
			Cash……………………………………
		Req. 1
			Journal
			Supplies………………………………..
		Req. 2
			Accounts Payable
		Req. 3
		Req. 1
			Journal
			Accounts Receivable
			Service Revenue…………………..
			Cash
			Accounts Receivable
		Req. 2
			LIABILITIES
				STOCKHOLDERS’ EQUITY
		Req. 1
			Analysis of Transactions
			ASSETS =
				Cash +
				Aug. 6
		Req. 2
			Journal
			Aug.
			6
			Cash………………………………………..
			39,000
			Common Stock
			39,000
			Issued stock to owner.
			9
			Land
			29,000
			Cash .
			29,000
			Purchased land.
			12
			Medical Supplies
			1,700
			Accounts Payable
			1,700
			Purchased supplies on account.
			15
			Not a transaction of the business.
			15-31
			Cash
			3,800
			Accounts Receivable
			3,800
			Service Revenue
			7,600
			Performed service for cash and on account.
			15-31
			Salary Expense
			1,300
			Rent Expense
			700
			Utilities Expense
			500
			Cash
			2,500
			Paid expenses.
			31
			Cash
			700
			Medical Supplies
			700
			Sold supplies.
			31
			Cash
			12,000
			Note Payable
			12,000
			Borrowed money.
			31
			Accounts Payable
			800
			Cash
			800
			Paid on account.
				Journal
			Cash
			Common Stock
			Issued common stock to owner.
			Office Supplies
			Accounts Payable
			Purchased office supplies on account.
			Land
			Cash
			Paid cash for land.
			Cash
			Service Revenue
			Performed services for cash.
			Accounts Payable
			Cash
			Paid cash on account.
			Accounts Receivable
			Service Revenue…
			Performed service on account.
			Cash
			Accounts Receivable
			Received cash on account.
			Salary Expense
			Rent Expense
			Cash
			Paid cash expenses.
		Req. 1
		Req. 2
			Journal
			1.
			Cash
			9,800
			Common Stock
			9,800
			Issued common stock.
			2.
			Cash
			7,000
			Note Payable
			7,000
			Borrowed money; signed note payable.
			3.
			Land
			32,000
			Cash
			
			4,000
			Note Payable
			28,000
			Purchased land by paying cash and
			signing a note payable.
			4.
			Supplies
			400
			Accounts Payable
			400
			Purchased supplies on account.
			5.
			Cash
			110
			Supplies
			110
			Sold supplies for cash.
			6.
			Equipment
			5,300
			Cash
			5,300
			Paid cash for equipment.
			7.
			Accounts Payable
			150
			Cash
			150
			Paid cash on account.
		Req. 1
		Req. 2
			Deluxe Patio Service, Inc.
		Req. 1
		Req. 2
			LIABILITIES
				STOCKHOLDERS’ EQUITY
		Req. 1
			Analysis of Transactions
			ASSETS =
				Cash +
				July 6
		Req. 2
			Journal
			Cash
			Common Stock
			Issued stock to owner.
			Land
			Cash
			Purchased land.
			Medical Supplies
			Accounts Payable
			Purchased supplies on account.
			Not a transaction of the business.
			15-31
			Cash
			Accounts Receivable
			Service Revenue
			Performed service for cash and on account.
			Salary Expense
			Rent Expense
			Utilities Expense
			Cash
			Paid expenses.
			Cash
			Medical Supplies
			Sold supplies.
			Cash
			Note Payable
			Borrowed money.
			Accounts Payable
			Cash
			Paid on account.
				Journal
			Sept.
			1
			Cash
			19,900
			Common Stock
			19,900
			Issued common stock to owner.
			2
			Office Supplies
			400
			Accounts Payable
			400
			Purchased office supplies on account.
			4
			Land
			14,000
			Cash
			14,000
			Paid cash for land.
			6
			Cash
			2,900
			Service Revenue
			2,900
			Performed services for cash.
			9
			Accounts Payable
			300
			Cash
			300
			Paid cash on account.
			17
			Accounts Receivable
			1,200
			Service Revenue
			1,200
			Performed service on account.
			23
			Cash
			100
			Accounts Receivable
			100
			Received cash on account.
			30
			Salary Expense
			1,200
			Rent Expense
			800
			Cash
			2,000
			Paid cash expenses.
		Req. 1
		Req. 2
			Journal
			1.
			Cash
			10,100
			Common Stock
			10,100
			Issued common stock.
			2.
			Cash
			7,300
			Note Payable
			7,300
			Borrowed money; signed note payable.
			3.
			Land
			35,000
			Cash
			
			7,000
			Note Payable
			28,000
			Purchased land by paying cash
			and signing a note payable.
			4.
			Supplies
			800
			Accounts Payable
			800
			Purchased supplies on account.
			5.
			Cash…
			130
			Supplies
			130
			Sold supplies for cash.
			6.
			Equipment
			5,700
			Cash
			5,700
			Paid cash for equipment.
			7.
			Accounts Payable
			140
			Cash
			140
			Paid cash on account.
		Req. 1
		Req. 2
			Custom Pool Service, Inc.
		Req. 1
		Req. 2
		Reqs. 1 and 3
		Req. 2
			Journal
			Cash
			Common Stock
			Rent Expense
			Cash
			Equipment
			Cash…
			Furniture…
			Accounts Payable
			Supplies
			Accounts Payable
			
			Cash
			Service Revenue
			Utilities Expense
			Cash
			Accounts Receivable
			Service Revenue
		Req. 3
		Req. 1
			Analysis of Transactions
			ASSETS
		Req. 2
			Mason Resources, Inc.
		Req. 3
			LIABILITIES
Cash……………………….
	STOCKHOLDERS’
		Req. 1
			Journal
			Cash
		Reqs. 2 and 3
		Req. 1
		Classification of Transactions
			Analysis of Transactions
			ASSETS
		Req. 3
			Journal
			Cash
			Office Equipment
				Journal
		Req. 2
			Journal
			Utilities Expense…
		Req. 3
		Req. 1
			Analysis of Transactions
			ASSETS
		Req. 2
			Davis Resources, Inc.
		Req. 3
		Req. 4
Cash…………………….
	STOCKHOLDERS’
		Req. 1
			Journal
			Cash
		Reqs. 2 and 3
		Req. 1
		Classification of Transactions
		Req. 2
			Analysis of Transactions
			ASSETS
				Journal
			Cash
			Office Equipment…
				Journal
				Journal
		Req. 3
		Reqs. 1 and 2
		Req. 3
			Cash
			X
			Accounts Receivable
			X
			Notes Payable
			X
				December
				Dec. 31
				December
				Nov. 30
				Dec. 31
Cash………………..
	4,472.7
	4.60%
	1.22%
	0.54%
	8.24%
                        

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