Sie sind auf Seite 1von 3

CHAPTER - 2 Problem - 01 A Frontier Park was started on April 1 by C. J. Mendez.

The following selected events and transactions occ rred d ring April. Apr. 1 Mendez invested !"#$### cash in the b siness. " P rchased land costing !%#$### for cash. & 'nc rred advertising e(pense of !1$&## on acco nt. 11 Paid salaries to e)ployees !1$*##. 1+ ,ired park )anager at a salary of !"$### per )onth$ effective May 1. 1% Paid !1$*## cash for a one-year ins rance policy. 1. /ithdrew !1$### cash for personal se. +# 0eceived !*$.## in cash for ad)ission fees. +* 1old 1## co pon books for !+* each. 2ach book contains 1# co pons that entitle the holder to one ad)ission to the park. %# 0eceived !&$3## in cash ad)ission fees. %# Paid !3## on balance owed for advertising inc rred on April &. Mendez ses the following acco nts4 Cash$ Prepaid 'ns rance$ 5and$ Acco nts Payable$ 6nearned Ad)ission 0even e$ C. J. Mendez$ Capital7 C. J. Mendez$ 8rawing7 Ad)ission 0even e$ Advertising 2(pense$ and 1alaries 2(pense. Instructions : Jo rnalize the April transactions. Problem - 02 Jane 9ent is a licensed CPA. 8 ring the first )onth of operations of her b siness$ the following events and transactions occ rred. May 1 9ent invested !+*$### cash. + ,ired a secretary-receptionist at a salary of !+$### per )onth. % P rchased !+$*## of s pplies on acco nt fro) 0ead 1 pply Co)pany. . Paid office rent of !3## cash for the )onth. 11 Co)pleted a ta( assign)ent and billed client !+$1## for services provided. 1+ 0eceived !%$*## advance on a )anage)ent cons lting engage)ent. 1. 0eceived cash of !1$+## for services co)pleted for ,. Arnold Co. %1 Paid secretary-receptionist !+$### salary for the )onth. %1 Paid "#: of balance d e 0ead 1 pply Co)pany. Jane ses the following chart of acco nts4 ;o. 1#1 Cash$ ;o. 11+ Acco nts 0eceivable$ ;o. 1+< 1 pplies$ ;o. +#1 Acco nts Payable$ ;o. +#* 6nearned 0even e$ ;o. %#1 Jane 9ent$ Capital7 ;o. "## 1ervice 0even e$ ;o. .+< 1alaries 2(pense$ and ;o. .+3 0ent 2(pense. Instructions =a> Jo rnalize the transactions. =b> Post to the ledger acco nts. =c> Prepare a trial balance on May %1$ +#1#.

Problem - 03 ,yzer 8isc ?olf Co rse was opened on March 1 by @arry 1ch ltz. The following selected events and transactions occ rred d ring March4 Mar. 1 'nvested !+#$### cash in the b siness. % P rchased ,eerenAs ?olf 5and for !1*$### cash. The price consists of land !1+$###$ shed !+$###$ and eB ip)ent !1$###. =Make one co)po nd entry.> * Advertised the opening of the driving range and )iniat re golf co rse$ paying advertising e(penses of !.##. < Paid cash !<## for a one-year ins rance policy.

1# P rchased golf discs and other eB ip)ent for !1$#*# fro) 'nnova Co)pany payable in %# days. 1& 0eceived !%"# in cash for golf fees earned. 13 1old 1## co pon books for !1# each. 2ach book contains " co pons that enable the holder to play one ro nd of disc golf. +* /ithdrew !&## cash for personal se. %# Paid salaries of !+*#. %# Paid 'nnova Co)pany in f ll. %1 0eceived !+## cash for fees earned. @arry 1ch ltz ses the following acco nts4 Cash$ Prepaid 'ns rance$ 5and$ @ ildings$ 2B ip)ent$ Acco nts Payable$ 6nearned 0even e$ @. 1ch ltz$ Capital7 @. 1ch ltz$ 8rawing7 ?olf 0even e$ Advertising 2(pense$ and 1alaries 2(pense. Instructions: Jo rnalize the March transactions. Problem - 04 Maria J arez is a licensed dentist. 8 ring the first )onth of the operation of her b siness$ the following events and transactions occ rred. April 1 'nvested !"#$### cash. 1 ,ired a secretary-receptionist at a salary of !<## per week payable )onthly. + Paid office rent for the )onth !1$###. % P rchased dental s pplies on acco nt fro) 1)ile Co)pany !"$###. 1# Provided dental services and billed ins rance co)panies !*$1##. 11 0eceived !1$### cash advance fro) Tr dy @orke for an i)plant. +# 0eceived !+$1## cash for services co)pleted and delivered to John 1tanley. %# Paid secretary-receptionist for the )onth !+$"##. %# Paid !1$<## to 1)ile Co)pany for acco nts payable d e. Maria ses the following chart of acco nts4 ;o. 1#1 Cash$ ;o. 11+ Acco nts 0eceivable$ ;o. 1+< 1 pplies$ ;o. +#1 Acco nts Payable$ ;o. +#* 6nearned 0even e$ ;o. %#1 Maria J arez$ Capital7 ;o. "## 1ervice 0even e$ ;o. .+< 1alaries 2(pense$ and ;o. .+3 0ent 2(pense. Instructions =a> Jo rnalize the transactions. =b> Prepare the ledger acco nts for cash$ acco nts payable and acco nts receivable.

Problem 05 1lowhand 1ervices was for)ed on May 1$ +#1#. The following transactions took place d ring the first )onth. Transactions on May 14 1. 2ric Clapton invested !*#$### cash in the co)pany$ as its sole owner. +. ,ired two e)ployees to work in the wareho se. They will each be paid a salary of !+$&## per )onth. %. 1igned a +-year rental agree)ent on a wareho se7 paid !+"$### cash in advance for the first year. ". P rchased f rnit re and eB ip)ent costing !%#$###. A cash pay)ent of !1#$### was )ade i))ediately7 the re)ainder will be paid in < )onths. *. Paid !1$&## cash for a one-year ins rance policy on the f rnit re and eB ip)ent. Transactions d ring the re)ainder of the )onth4 <. P rchased basic office s pplies for !*## cash. .. P rchased )ore office s pplies for !1$*## on acco nt. &. Total reven es earned were !+#$###C!&$### cash and !1+$### on acco nt. 3. Paid !"## to s ppliers for acco nts payable d e. 1#. 0eceived !%$### fro) c sto)ers in pay)ent of acco nts receivable. 11. 0eceived tility bills in the a)o nt of !+##$ to be paid ne(t )onth.

1+. Paid the )onthly salaries of the two e)ployees$ totalling !*$<##. Instructions: Prepare Do rnal entries to record each of the events listed.

Das könnte Ihnen auch gefallen