Homework Answers
1- ANSWER SCREEN -1
SALARY ACCOUNT DEBIT 1260
TO CASH 1260
(CALCULATION 2100/5X3= 1260)
2- ANSWER SCREEN-3
TRUCK--------------------------------------------- PROPERTY
ACCUMULATED DEPRECIATION --------EXPENSE
TELEPHOME EXPENSES ------------------EXPENSE
FEES EARNED---------------------------------REVENUE
WAGES PAYABLE ----------------------------CURRENT LIABILITIES
PREPAID INSURANCE ---------------------CURRENT ASSETS
OFFICE SUPPLIES ---------------------- CURRENT ASSETS
DINING EXPENSES ------------------------- EXPENSES
UNEARNED RENT -------------------------- CURRENT ASSETS
3- ANSWER SCREEN-4
RECORD THE FOLLOWING TRANSACTION MONTH OF APRIL
a) CASH ACCOUNT DEBIT 18000
TO COMMON STOCK 18000
b) EQUIPMENT ACCOUNT DEBIT 27000
TO CASH ACCOUNT 10000
TO NOTES PAYABLE 17000
c) RENT ACCOUNT DEBIT 2300
TO CASH ACCOUNT 2300
d) PURCHASE ACCOUNT DEBIT 1500
TO CREDITORS ACCOUNT 1500
e) CASH ACCOUNT DEBIT 9800
TO FEES EARNED ACCOUNT 9800
f) CASH ACCOUNT DEBIT 7500
TO FEES EARNED ACCOUNT 7500
g) CREDITORS ACCOUNT DEBIT 1200
TO CASH ACCOUNT 1200
h) WAGES ACCOUNT DEBIT 3425
TO CASH ACCOUNT 3425
i) CASH ACCOUNT DEBIT 7900
TO CUSTOMER ACCOUNT 7900
J) DIVIDEND ACCOUNT DEBIT 1875
TO CASH ACCOUNT 1875
4- ANSWER SCREEN-5
INSURANCE EXPENSES ACCOUNT DEBIT 1050
PREPAID INSURANCE ACCOUNT DEBIT 3150
TO CASH ACCOUNT 4200
5- ANSWER SCREEN -6
DEPRECIATION ACCOUNT DEBIT 6400
TO BUILDING ACCOUNT 6400
6- ANSWER
ACCOUNTS TYPES OF ACCOUNT INCREASES SIDE
(1) SUPPLIES A DR
(2) FEES EARNED R CR
(3) RETAINED EARNING L CR
(4) ACCOUNTS PAYABLE L CR
(5) SALARIES EXPENSES E DR
(6) COMMON STOCK L CR
(7) ACCOUNTS RECEIVABLE A DR
(8) EQUIPMENT A DR
(9) NOTES PAYABLE L DR
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Question 1:
Question 2:
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