Problems Accounting Text and Cases

Problem 1-5

Cash + $25,000 500 + 500 750 3,000 2,000 5,000 Accounts + Receivable Supplies + Inventory + Equipment = Accounts Payable + Owners’ Equity + $25,000 500

1. 2. 3. 4. 5. 6. 7. 8. 9. 10.

Investment Rent

+ + $500

$8,000

+

$8,000 + 750 3,000 10,000 100 1,000 Advertising Salaries Commissions

+

$8,000 100 + 1,000 5,000

-

Expenses

BON VOYAGE TRAVEL BALANCE SHEET AS OF JUNE 30, ----. Assets Liabilities and Owners’ Equity Cash .............................................................................................................................................................................. $17,250 Accounts payable .................................................................................. $ 4,000 Accounts receivable ...................................................................................................................................................... 8,000 Current liabilities .............................................................................. 4,000 Supplies inventory ........................................................................................................................................................ 400 Owners’ equity...................................................................................... 29,650 Current assets ........................................................................................................................................................... 25,650 Equipment ..................................................................................................................................................................... $ 8,000 ______ Total liabilities Total Assets ......................................................................................................................................................... $33,650 and owners’ equity ...................................................................... $33,650

BON VOYAGE...