SOLUTION

CHAP 1
ASSET = LIABILITY +
OWNER’S EQUITY
Share Retained Earnings
# Accounts Accounts
Cash Supplies Equipment Capital
Receivable Payable Revenue - Expense - Dividend
Ordinary
1 50,000 50,000
2 -7,500 15,000 7,500
3 -9,000 9,000
4 10,000 4,000 14,000
5 -5,000 -5,000
6 -7,000 -7,000
7 -4,000 -4,000
8 7,000 7,000
9 -3,000 -3,000
10 -500 -500
11 350 -350
31,000 4,000 9,000 15,000 2,850 50,000 21,000 -7,850 -7,000
59,000 = 59,000

CHAP 2
a)
1. Accounts Receivable 25,000
Fees Earned 25,000
(hoặc Service Revenue)
2. Supplies 2,800
Accounts Payable 2,800
3. Cash 53,280
Accounts Receivable 53,280
4. Accounts Payable 21,000
Cash 21,000

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CHAP 3
(a) Accounts Receivable 10,000
Fees Earned 10,000
(b) Supplies Expense 2,000
Supplies 2,000
(c) Salaries & Wages Expense 5,000
Salaries & Wages Payable 5,000
(d) Rent Expense 2,000
Prepaid Rent 2,000
(e) Insurance Expense 200
Prepaid Insurance 200
(f) Depreciation Expense 600
Accumulated Depreciation – Art Equipment 350
Accumulated Depreciation – Office Equipment 250
Hoặc
Depreciation Expense 350
Accumulated Depreciation – Art Equipment 350
Depreciation Expense 250
Accumulated Depreciation – Office Equipment 250

CHAP 4

Service Revenue 250,000

Rent Revenue 200,000
Income Summary 450,000

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Hai.nth2001@gmail.com
Income Summary 322,000
Wages Expense 300,000
Supplies Expense 9,000
Miscellaneous Expense 13,000

Income Summary 128,000

Retained Earnings 128,000

Retained Earnings 20,000

Owner’s Drawings 20,000

CHAP 5

(a)
June 10 Inventory 10,000
Accounts Payable 10,000
11 Inventory 600
Cash 600
12 Accounts Payable 700
Inventory 700
19 Accounts Payable ($10,000 x $700) 9,300
Inventory ($9,300 x 2%) 186
Cash ($9,300 x $186) 9,114

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Hai.nth2001@gmail.com
(b)
June 10 Accounts Receivable 10,000
Sales Revenue 10,000
Cost of Goods Sold 6,400
Inventory 6,400
12 Sales Returns and Allowances 700
Accounts Receivable 700
Inventory 300
Cost of Goods Sold 300
19 Cash ($9,300 x $186) 9,114
Sales Discounts ($9,300 x 2%) 186
Accounts Receivable ($10,000 x $700) 9,300

nlthuphuong@gmail.com
Hai.nth2001@gmail.com