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Accounting
Assets: Liabilities: Equity:

Assets: Liabilities: Equity:

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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J29 L/Bank interest payable Dr. Big Bank Cr. Dr. Big Bank Cr. Dr. Stock Cr. 75,000 Beg. Balance Rent expenses 35,000 Beg. Balance 65,000 Beg. Balance 4,000 sales 62,000 Ending Balance Ending Balance 17,000 inventory Ending Balance Note Payable Cr. 76,000 Dr. Little Bank Retained Cash Beg. Balance 60,000 Dr. Earnings Cr. Dr Cr. Beg. Balance Little Bank Beg. Balance employee payment 20,000 Ending Balance sales 62,000 10,000 cost of goods sold 16,000 sales 40,000 rent expenses 4,000 wages expenses 23,000 Interest Payable employee wages 10,000 Ending Balance 27,000 Dr. Big Bank Cr. sales 88,000 Beg. Balance cost of goods sold 22,000 Accounts interest payable 600 sales 110,000 Dr. Receivable Cr. Ending Balance cost of goods sold 28,000 Beg. Balance wages of employees B/bank interest payal LBank interest payal Ending Balance 23,000 sales 88,000 Interest Payable 600 sales 70,000 Dr. Little Bank Cr. 450 Beg. Balance interest payable Ending Balance 158,000 450 Ending Balance Dr. Inventory Cr. Beg. Balance cost of goods sold cost of goods sold cost of goods sold 85,000 16,000 22,000 28,000 additional inventory 17,000 Ending Balance 36,000 Dr. Cr. Equipment 60.000 Beg. Balance Ending Balance General Journal General Ledger Trial Bal and RE Change Rpt Balance Sheet Ready Wyse DELL
Transcribed Image Text:J29 L/Bank interest payable Dr. Big Bank Cr. Dr. Big Bank Cr. Dr. Stock Cr. 75,000 Beg. Balance Rent expenses 35,000 Beg. Balance 65,000 Beg. Balance 4,000 sales 62,000 Ending Balance Ending Balance 17,000 inventory Ending Balance Note Payable Cr. 76,000 Dr. Little Bank Retained Cash Beg. Balance 60,000 Dr. Earnings Cr. Dr Cr. Beg. Balance Little Bank Beg. Balance employee payment 20,000 Ending Balance sales 62,000 10,000 cost of goods sold 16,000 sales 40,000 rent expenses 4,000 wages expenses 23,000 Interest Payable employee wages 10,000 Ending Balance 27,000 Dr. Big Bank Cr. sales 88,000 Beg. Balance cost of goods sold 22,000 Accounts interest payable 600 sales 110,000 Dr. Receivable Cr. Ending Balance cost of goods sold 28,000 Beg. Balance wages of employees B/bank interest payal LBank interest payal Ending Balance 23,000 sales 88,000 Interest Payable 600 sales 70,000 Dr. Little Bank Cr. 450 Beg. Balance interest payable Ending Balance 158,000 450 Ending Balance Dr. Inventory Cr. Beg. Balance cost of goods sold cost of goods sold cost of goods sold 85,000 16,000 22,000 28,000 additional inventory 17,000 Ending Balance 36,000 Dr. Cr. Equipment 60.000 Beg. Balance Ending Balance General Journal General Ledger Trial Bal and RE Change Rpt Balance Sheet Ready Wyse DELL
Assets: Liabilities: Equity: nguirement2 Post ne cn ounal to the C Reuirment
Transcribed Image Text:Assets: Liabilities: Equity: nguirement2 Post ne cn ounal to the C Reuirment
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