Self-study

1.b 2.d 3.c 4.a 5.b 6.d 7.b 8.a 9.b 10.a 11.d (12,13,14,15)

Brief Ex

1-1 Assets= liabilities + owner’s equity

a. 120000+232000=352000
b. 190000-80000=110000
c. 800000-400000=400000
1-2 a.40000,b.110000,c.34000
1-3 a. assets b. liabilities c. assets d. assets e. owners equity f. liabilities
1-4 not yet

Assets liabilities Owner’s equity

800000 500000 300000
800000+150000=950000 500000-80000=42000 530000
600000+230000=830000 500000+100000=600000 300000-70000=230000
800000-80000=720000 720000-420000=300000 300000+120000=420000
1-5
1-6

Assets liabilities Owner’s equity

A + + Ne
B + Ne +
C - - Ne

1-7

Assets liabilities Owner’s equity

A + Ne +
B - Ne -
C + Ne +

1-8 a.E,b.R,c.E,d.E,e.D,F.R,g.E
1-9 a.R,b.I,E
1-10 1-11 not yet

DOIT

1.1 (1 false,2 true, 3 false,4 true,5 true)

1.2 (1D,2R,3E,4I)
1.3 1.4 not yet

Exercises
E1-1 recording ,
identification,communication,communication,recording,communication,communication,recording ,reco
rding

1-2 a External ,Internal External Internal Internal External Internal External Internal

1-2 b Internal ,Exernal,Internal,Internal ,Internal,Internal,External

1-3 This is not ethical because it breaks accounting principle

1-4 liabilities assets assets assets assets liabilities liabilities owner equity

1-5 incorrect cost principle ,correct monetary unit ,incorrect economic entity

1-6 need inquiry