Exe.docx
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Exe.docx
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Exe
每位同学不仅要参与本组作业的完成,也要认真阅读其他组的作业题目,便于上课交流和讨论。
每组汇报时间为20-30分钟,包括组员本人的英文自我介绍1分钟,题目介绍、答案与解释10-15分钟(需制作PPT),交流讨论5-10分钟。
ExerciseAssignmentsClass1
Chapter1
AccountinginBusiness
Group1
Q1:
GrahamRoofingCompany,ownedbyR.Graham,beganoperationsinMayandcompletedthefollowingtransactionsduringthatfirstmonthofoperations.Showtheeffectsofthetransactionsontheaccountsoftheaccountingequationbyrecordingincreasesanddecreasesintheappropriatecolumnsinthetablebelow.Donotdeterminenewaccountbalancesaftereachtransaction.Determinethefinaltotalforeachaccountandverifythattheequationisinbalance.
May
1
R.Grahaminvested$90,000cashinthecompany.
2
Thecompanypurchased$25,000inofficeequipment.Itpaid$10,000incashandsignedanotepayablepromisingtopaythe$15,000overthenextthreeyears.
2
Thecompanyrentedofficespaceandpaid$3,000fortheMayrent.
6
Thecompanyinstalledanewroofforacustomerandimmediatelycollected$5,000.
7
Thecompanypaidasupplier$2,000forroofingmaterialsusedontheMay6job.
8
Thecompanypurchaseda$2,500copymachineforofficeuseoncredit.
9
Thecompanycompletedworkforadditionalcustomersoncreditintheamountof$16,000.
15
Thecompanypaiditsemployeessalaries$2,300forthefirsthalfofthemonth.
17
Thecompanyinstalledanewroofforacustomerandimmediatelycollected$2,400.
20
Thecompanyreceived$10,000inpaymentsfromthecustomersbilledonMay9.
28
Thecompanypaid$1,500onthecopymachinepurchasedonMay8.ItwillpaytheremainingbalanceinJune.
31
Thecompanypaiditsemployeessalaries$2,400forthesecondhalfofthemonth.
31
Thecompanypaidasupplier$5,300forroofingmaterialsusedontheremainingjobscompletedduringMay.
31
Thecompanypaid$450forthismonth’sutilitybill.
GRAHAMROOFINGCO.
Assets=
Liabilities+
Equity
Date
Accounts
Accounts
Notes
R.Graham
R.Graham
May
Cash
Receivable
Equipment
Payable
Payable
Capital
Withdrawals
Revenues
Expenses
1
2
2
6
7
8
9
15
17
20
28
31
31
31
$-
$-
$-
$-
$-
$-
$-
$-
$-
Q2:
Identifyanddescribethefourbasicfinancialstatements.
Chapter2
AnalyzingandRecordingTransactions
Group2
Q1:
Identifyeachofthefollowingaccountsasarevenue(R),expense(E),asset(A),liability(L),orequity(OE)byplacinginitials(R,E,A,LorOE)intheblanks.
____1.SalaryExpense
____2.Cash
____3.Equipment
____4.Owner,Capital
____5.FeesRevenue
____6.AccountsReceivable
____7.AccountsPayable
____8.Owner,Withdrawals
____9.Supplies
____10.UnearnedFeeRevenue
____11.PrepaidInsurance
____12.OfficeFurniture
Q2:
VickiLakeisacomputerconsultant.Shownbeloware(a)severalaccountsinherledgerwitheachaccountprecededbyanidentificationnumber,and(b)severaltransactionscompletedbyLake.Indicatetheaccountsdebitedandcreditedwhenrecordingeachtransactionbyplacingtheproperaccountidentificationnumberstotherightofeachtransaction.
1.
AccountsPayable
7.
TelephoneExpense
2.
AccountsReceivable
8.
UnearnedConsultingFees
3.
Cash
9.
VickiLake,Capital
4.
ConsultingFeesEarned
10.
VickiLake,Withdrawals
5.
OfficeSupplies
11.
InsuranceExpense
6.
OfficeSuppliesExpense
12.
PrepaidInsurance
Debit
Credit
Example:
2
4
Completedconsultingworkforaclientwhowillpayatalaterdate.
A.
Receivedcashinadvancefromacustomerfordesigningasoftwarepackage.
B.
Purchasedofficesuppliesoncredit.
C.
PaidforthesuppliespurchasedinB
D.
Receivedthetelephonebillofthebusinessandimmediatelypaidit.
E.
Paidfora3-yearinsurancepolicy
Group3
Q1:
Describethelinkbetweentheincomestatement,thestatementofowner'sequity,andthebalancesheet.
Q2:
LeonardMatsoncompletedthesetransactionsduringDecemberofthecurrentyear:
Dec.1Beganafinancialservicespracticebyinvesting15,000cashandofficeequipmenthavinga$5,000value.
2Purchased$1,200ofofficeequipmentoncredit.
3Purchased$300ofofficesuppliesoncredit.
4Completedworkforaclientandimmediatelyreceivedapaymentof$900cash.
8CompletedworkforAcmeLoanCo.oncredit,$1,700.
10PaidforthesuppliespurchasedoncreditonDecember3.
14Paidfortheannual$960premiumonaninsurancepolicy.
18ReceivedpaymentinfullfromAcmeLoanCo.fortheworkcompletedonDecember8.
27Leonardwithdrew$650cashfromthepracticetopaypersonalexpenses.
30Paid$175cashfortheDecemberutilitybills.
30Received$2,000fromaclientforfinancialservicestoberenderednextyear.
Preparegeneraljournalentriestorecordthesetransactions.
Chapter3
AdjustingAccountsandPreparingFinancialStatements
Group4
Q1:
Whatarethetypesofadjustingentriesusedforaccruedexpensesandaccruedrevenues
Q2:
BasedontheunadjustedtrialbalanceforBella’sBeautySalonandtheadjustinginformationgivenbelow,preparetheadjustingjournalentriesforBella'sBeautySalon.
BellaBeautySalon'sunadjustedtrialbalanceforthecurrentyearfollows:
BellaBeautySalon
TrialBalance
December31
Cash………………………………………………….
$4,200
Prepaidinsurance…………………………………...
1,480
Shopsupplies.............................................................
990
Shopequipment…………………………………….
3,860
Accumulateddepreciation–shopequipment………..
$770
Building……………………………………………...
57,500
Accumulateddepreciation–building………………..
3,840
Land………………….
55,000
Unearnedrent………………………………………..
1,600
Long-termnotespayable…………………………….
50,000
BellaHanson,Capital……………………………….
49,860
Rentearned………………………………………….
2,400
Feesearned………………………………………….
23,400
Wagesexpense……………………………………...
3,200
Utilitiesexpense……………………………………
690
Propertytaxesexpense…………………………….
600
Interestexpense……………………………………
4,350
________
Totals………………………………………………..
$131,870
$131,870
Additionalinformation:
a.Aninsurancepolicyexaminationshowed$1,240ofexpiredinsurance.
b.Aninventorycountshowed$210ofunusedshopsuppliesstillavailable.
c.Depreciationexpenseonshopequipment,$350.
d.Depreciationexpenseonthebuilding,$2,220.
e.Abeauticianisbehindonspacerentalpayments,andthis$200ofaccruedrevenueswasunrecordedatthetimethetrialbalancewasprepared.
f.$800oftheUnearnedRentaccountbalancewasearnedbyyear-end.
g.Theoneemployee,areceptionist,worksafive-dayworkweekat$50perday.Theemployeewaspaidlastweekbuthasworkedfourdaysthisweekforwhichshehasnotbeenpaid.
h.Threemonths'propertytaxes,totaling$450,haveaccrued.Thisadditionalamountofpropertytaxesexpensehasnotbeenrecorded.
i.Onemonth'sinterestonthenotepayable,$600,hasaccruedbutisunrecorded.
Chapter4
CompletingtheAccountingCycle
Group5
Q1:
Explainthedifferencebetweentemporaryandpermanentaccounts.
Q2:
TheadjustedtrialbalanceofSara'sWebServicesfollows:
SARA’SWEBSERVICES
AdjustedTrialBalance
December31
Cash
$1,170
Supplies
1,930
Prepaidinsurance
600
Computerequipment
20,600
Accumulateddepreciation—Computerequipment
$5,400
Accountspayable
325
SaraPollis,Capital
13,925
SaraPollis,Withdrawals
4,800
Servicesrevenue
21,720
Salariesexpense
6,920
Depreciationexpense
2,000
Rentexpense
1,200
Suppliesexpense
800
Utilitiesexpense
950
Insuranceexpense
400
Totals
$41,370
$41,370
(a)PreparetheclosingentriesforSara'sWebServices.
(b)WhatisthebalanceofSara'scapitalaccountaftertheclosingentriesareposted
Chapter5
AccountingforMerchandisingOperations
Group6
Q1:
CeresComputerSalesusestheperpetualinventorysystemandhadthefollowingtransactionsduringDecember.
Dec1Soldmerchandiseoncreditfor$5,000,terms3/10,n/30.Theitemssoldhadacostof$3,500.
Dec3Purchasedmerchandiseforcash,$720.
Dec4Purchasedmerchandiseoncreditfor$2,600,terms1/20,n/30.
Dec5Issuedacreditmemorandumfor$300toacustomerwhoreturnedmerchandisepurchasedNovember29.Thereturneditemshadacostof$210.
Dec11ReceivedpaymentformerchandisesoldDecember1.
Dec15ReceivedacreditmemorandumforthereturnoffaultymerchandisepurchasedonDecember4for$600.
Dec18Paidfreightchargesof$200formerchandiseorderedlastmonth.(FOBshippingpoint)
Dec23PaidforthemerchandisepurchasedDecember4lesstheportionthatwasreturned.
Dec24Soldmerchandiseoncreditfor$7,000,terms2/10,n/30.Theitemshadacostof$4,900.
Dec31ReceivedpaymentformerchandisesoldonDecember24.
Required:
Preparethegeneraljournalentriestorecordthesetransactions.
Q2:
Listthestepsoftheoperatingcycleforamerchandiserwithcreditsales.
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