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Copy of Chap004 1.doc
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Copy of Chap004 1.doc-Chapter 04 - Adjustments, Fi...
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Copy_of_Chap004_1.doc-Chapter 04 - Adjustments, Financial Statements,
Page 50
Chapter 04 - Adjustments, Financial Statements, and the Quality of Earnings
COMPREHENSIVE PROBLEMS
COMP4–1.
Req. 1, 2, 3, and 5
T-accounts
(in thousands)
Cash
Accounts Receivable
Supplies
Bal.
4
b
12
Bal.
7
Bal.
16
a
12
e
91
c
52
f
34
i
23
l
21
c
156
g
13
d
4
h
19
f
34
k
22
Bal.
53
Bal.
25
Bal.
18
Land
Equipment
Accumulated
Depreciation
Bal.
0
Bal.
78
Bal.
8
b
12
m
8
Bal.
12
Bal.
78
Bal.
16
Other Assets
Accounts Payable
Income Tax Payable
Bal.
5
Bal.
0
Bal.
0
g
13
h
19
e
20
p
10
i
23
Bal.
18
Bal.
24
Bal.
10
Wages Payable
Interest Payable
LT Notes Payable
Bal.
0
Bal.
0
Bal.
0
o
16
n
1
a
12
Bal.
16
Bal.
1
Bal.
12
Contributed
Capital
Retained
Earnings
Service
Revenue
Bal.
85
Bal.
17
Bal.
0
d
4
k
22
c
208
CE
41
CE
208
Bal.
89
Bal.
36
Bal.
0
Depreciation
Expense
Income Tax
Expense
Interest
Expense
Bal.
0
Bal.
0
Bal.
0
m
8
CE
8
p
10
CE
10
n
1
CE
1
Bal.
0
Bal.
0
Bal.
0
4-50
Page 51
Chapter 04 - Adjustments, Financial Statements, and the Quality of Earnings
Supplies
Expense
Wages
Expense
Remaining
Expenses
Bal.
0
Bal.
0
Bal.
0
l
21
CE
21
o
16
CE
16
e
111
CE
111
Bal.
0
Bal.
0
Bal.
0
COMP4–1. (continued)
Req. 2
a.
Cash (+A)
...........................................................
12,000
Notes payable (+L)
...................................
12,000
b.
Land (+A)
............................................................
12,000
Cash (
A)
..................................................
12,000
c.
Cash (+A)
...........................................................
156,000
Accounts receivable (+A)
...................................
52,000
Service revenue (+R, +SE)
......................
208,000
d.
Cash (+A)
...........................................................
4,000
Contributed capital (+SE)
.........................
4,000
e.
Remaining expenses (+E,
SE)
..........................
111,000
Accounts payable (+L)
.............................
20,000
Cash (
A)
..................................................
91,000
f.
Cash (+A)
...........................................................
34,000
Accounts receivable (
A)
..........................
34,000
g.
Other assets (+A)
...............................................
13,000
Cash (
A)
..................................................
13,000
h.
Accounts payable (
L)
........................................
19,000
Cash (
A)
..................................................
19,000
i.
Supplies (+A)
......................................................
23,000
Accounts payable (+L)
.............................
23,000
j.
No entry required; no revenue earned in 2012.
k.
Retained earnings (
SE)
.....................................
22,000
Cash (
A)
..................................................
22,000
4-51
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