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Exercise 3-1 Types of Events, p. 133
1. E
2. E
3. NR
4. E
5. I
6. NR
7. E
8. I
Exercise 3-3 The Effect of Transactions on the Accounting Equation, p. 133
1. g.
2. b.
3. f.
4. d.
5. c.
6. a.
7. b.
8. e.
Problem 3-2 Transaction Analysis and Financial Statements, p. 138
1. Prepare a table to summarize the preceding transactions as they affect the accounting equation.
Just Rolling Along Inc.
Transactions for the month of May 2012
| | Assets | | | | | | Liabilities | | Stockholders' Equity |
Cash | | Accounts Receivable | | Equipment | | Supplies | | Accounts Payable | | Capital Stock | | Retained Earnings |
$ 18,000 | | | | | | | | | | $18,000 | | |
| | | | $ 3,000 | | | | $ 3,000 | | | | |
$ 18,000 | | | | $ 3,000 | | | | $ 3,000 | | $18,000 | | |
$ (15) | | | | | | | | | | | | $ (15) |
$ 17,985 | | | | $ 3,000 | | | | $ 3,000 | | $18,000 | | $ (15) |
$ (4,400) | | | | $ 4,400 | | | | | | | | |
$ 13,585 | | | | $ 7,400 | | | | $ 3,000 | | $18,000 | | $ (15) |
| | | | | | $ 100 | | $ 100 | | | | |
$ 13,585 | | | | $ 7,400 | | $ 100 | | $ 3,100 | | $18,000 | | $ (15) |
$ (125) | | | | | | | | | | | | $ (125) |
$ 13,460 | | | | $ 7,400 | | $ 100 | | $ 3,100 | | $1,800 | | $ (140) |
$ 1,800 | | | | | | | | | | | | $ 1,800 |
$ 15,260 | | | | $ 7,400 | | $ 100 | | $ 3,100 | | $18,000 | | $ 1,660 |
| | $ 1,200 | | | | | | | | | | $ 1,200 |
$ 15,260 | | $ 1,200 | | $ 7,400 | | $ 100 | | $...