怀尔德会计学原理答案Chapter - 03(8)

Problem 3-3B (Continued) Part 3

AUGUSTUS INSTITUTE Adjusted Trial Balance December 31, 2009

Accounts receivable ............................................................... Teaching supplies ................................................................... Prepaid insurance ................................................................... Prepaid rent .............................................................................. Professional library ................................................................. Accumulated depreciation—Professional library ............ Equipment ................................................................................ Accumulated depreciation—Equipment ............................ Accounts payable ................................................................... Salaries payable ...................................................................... Unearned training fees ........................................................... C. Augustus, Capital ............................................................... C. Augustus, Withdrawals ..................................................... Tuition fees earned ................................................................. Training fees earned ............................................................... Depreciation expense—Professional library ..................... Depreciation expense—Equipment .................................... Salaries expense ..................................................................... Insurance expense .................................................................. Rent expense ........................................................................... Teaching supplies expense .................................................. Advertising expense ...............................................................

Debit 9,750 3,000 13,000

0 31,000

72,719

41,000

6,000 17,000 50,340 3,000 24,881 7,000 7,000

Credit

$ 15,000

34,000 35,600 340 7,800 66,000

115,750 44,200

_______ $318,690 Cash ........................................................................................... $ 27,000

Utilities expense ...................................................................... 6,000 Totals ......................................................................................... $318,690 ?McGraw-Hill Companies, 2009 154

Fundamental Accounting Principles, 19th Edition

Problem 3-3B (Continued) Part 4

AUGUSTUS INSTITUTE Income Statement

For Year Ended December 31, 2009

Revenues

Tuition fees earned ................................................... $115,750 Training fees earned ................................................. 44,200 Total revenues ........................................................... $159,950 Expenses

Depreciation expense—Professional library .......... 6,000 Depreciation expense—Equipment ......................... 17,000 Salaries expense ....................................................... 50,340 Insurance expense .................................................... 3,000 Rent expense ............................................................. 24,881 Teaching supplies expense ...................................... 7,000 Advertising expense ................................................. 7,000 Utilities expense ........................................................ 6,000 Total expenses .......................................................... 121,221 Net income ................................................................... $ 38,729 AUGUSTUS INSTITUTE Statement of Owner’s Equity For Year Ended December 31, 2009 $ 66,000 38,729 104,729 41,000 $ 63,729 C. Augustus, Capital, December 31, 2008 .......... Plus: Net income .................................................. Less: Withdrawals ................................................ C. Augustus, Capital, December 31, 2009 .......... ?McGraw-Hill Companies, 2009

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155

Problem 3-3B (Concluded) AUGUSTUS INSTITUTE Balance Sheet December 31, 2009 Assets Cash .............................................................................. $ 27,000 Accounts receivable ................................................... 9,750 Teaching supplies ....................................................... 3,000 Prepaid insurance ....................................................... 13,000 Professional library ..................................................... $31,000 Accumulated depreciation—Professional library .......... (15,000) 16,000 Equipment .................................................................... 72,719

Accumulated depreciation—Equipment ................... (34,000) 38,719 Total assets .................................................................. $107,469 Liabilities Accounts payable ........................................................ $ 35,600 Salaries payable .......................................................... 340 Unearned training fees ............................................... 7,800 Total liabilities ............................................................. 43,740 Equity C. Augustus, Capital ................................................... 63,729 Total liabilities and equity .......................................... $107,469

?McGraw-Hill Companies, 2009 156

Fundamental Accounting Principles, 19th Edition

Problem 3-4B (45 minutes) — Part 1

Account Unadjusted Trial Balance Adjustments 9,500

(b) (c) (d) 4,000

10,000

(e) (f) (g) (a) (h)

Adjusted Trial Balance $ 106,890 18,500 7,600 9,000 5,080 3,960

85,000 10,000 10,900 1,500 9,000

9,500 4,000

7,500

10,000

$34,000 22,000 1,500 9,000 18,000 56,000 54,000

175,500

Cash ................................................$ 106,890 Accounts receivable ..................9,000 (a) Office supplies .............................16,600 Prepaid insurance ....................... 9,040 Office equipment .........................85,000 Accumulated depreciation— $ 24,000

Office equipment .............................

Accounts payable ....................... Interest payable............................ Salaries payable .......................... Unearned consulting fees ........ Long-term notes payable ......... Y. Fresno, Capital ........................ Y. Fresno, Withdrawals ............. 7,500

Consulting fees earned ............

Depreciation expense—

Office equipment ......................

Salaries expense .........................67,070 Interest expense ..........................1,230 Insurance expense .................... Rent expense ...............................14,620 Office supplies expense ........... Advertising expense .................. 12,150 _______ Totals ...............................................$329,100 $329,100

11,100

22,000 (h) 56,000 54,000

162,000

(d)

(g) 9,000 (f) 1,500 (c) 5,080 (b) 7,600 (e) 10,900 $57,580 76,070 2,730 5,080 14,620 7,600 ______ 23,050 _______ $57,580 $370,000 $370,000 (a) (b) (c) (d) (e) (f) (g) (h)

Adjustment Descriptions Earned but uncollected revenues. Cost of office supplies used.

Cost of expired insurance coverage.

Depreciation expense on office equipment. Incurred but unpaid advertising expense. Incurred but unpaid interest expense. Incurred but unpaid salaries expense.

Earned revenues previously received in advance.

?McGraw-Hill Companies, 2009

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Problem 3-4B (continued) Part 2

FRESNO CONSULTING COMPANY

Income Statement

For Year Ended December 31, 2009

$175,500

139,150 $ 36,350 Revenues

Consulting fees earned ..................................... Expenses

Depreciation expense—Office equipment ....... $ 10,000 Salaries expense ............................................... Interest expense ................................................ Insurance expense ............................................ Rent expense ..................................................... Office supplies expense ................................... Total expenses ................................................... Net income ............................................................ FRESNO CONSULTING COMPANY Statement of Owner’s Equity For Year Ended December 31, 2009 Y. Fresno, Capital, December 31, 2008 .............. Plus: Net income .................................................. Less: Owner withdrawals .................................... Y. Fresno, Capital, December 31, 2009 .............. 76,070 2,730 5,080 14,620 7,600

Advertising expense ......................................... 23,050 $ 54,000 36,350 90,350 7,500 $ 82,850 ?McGraw-Hill Companies, 2009 158

Fundamental Accounting Principles, 19th Edition

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