【VIP专享】会计学英文版作业

a. Cash withdrawal by owner d. Cash g. Prepaid rent

b. Office equipment e. Utilities expenses h. Unearned fees

c. Accounts payable f. Office supplies i. Service fees earned

1-6 The following are common categories on a classified balance sheet.

A. Current assets D. Intangible assets

B. Long-term investments E. Current liabilities

C. Plant assets F. Long-term liabilities

For each of the following items, select the letter that identifies the balance sheet category where the item typically would appear.

______ 1. Land not currently used in operations ______ 5. Accounts payable

______ 2. Notes payable (due in three years) ______ 6. Store equipment

______ 3. Accounts receivable ______ 7. Wages payable

______ 4. Trademarks ______ 8. Cash

1-7 In the blank space beside each numbered balance sheet item, enter the letter of its balance sheet classification. If the item should not appear on the balance sheet, enter a Z in the blank.

A. Current assets D. Intangible assets F. Long-term liabilities

B. Long-term investments E. Current liabilities G. Equity

C. Plant assets

______ 1. Long-term investment in stock ______ 12. Accumulated depreciation—Trucks ______ 2. Depreciation expense—Building ______ 13. Cash

______ 3. Prepaid rent

______ 4. Interest receivable ______ 14. Buildings

______ 5. Taxes payable ______ 15. Store supplies

______ 6. Automobiles ______ 16. Office equipment

______ 7. Notes payable (due in 3 years) ______ 17. Land (used in operations)

______ 8. Accounts payable ______ 18. Repairs expense

______ 9. Prepaid insurance ______ 19. Office supplies

______ 10. Owner, Capital ______ 20. Current portion of long-term note payable ______ 11. Unearned services revenue

1-8 In the blank space beside each numbered balance sheet item, enter the letter of its balance sheet classfication. If the item should not appear on the balance sheet, enter a Z in the blank.

A. Current assets E. Current liabilities

B. Long-term investments F. Long-term liabilities

C. Plant assets G. Equity

3-2 The adjusted trial balance for Chiara Company as of December 31, 2008, follows.

Debit Credit

Cash . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 30,000

Accounts receivable . . . . . . . . . . . . . . . . . . . . . . . 52,000

Interest receivable . . . . . . . . . . . . . . . . . . . . . . . . 18,000

Notes receivable (due in 90 days) . . . . . . . . . . . . . 168,000

Office supplies . . . . . . . . . . . . . . . . . . . . . . . . . . . 16,000

Automobiles . . . . . . . . . . . . . . . . . . . . . . . . . . . . 168,000

Accumulated depreciation—Automobiles . . . . . . . $ 50,000

Equipment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 138,000

Accumulated depreciation—Equipment . . . . . . . . . 18,000

Land . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 78,000

Accounts payable . . . . . . . . . . . . . . . . . . . . . . . . . 96,000

Interest payable . . . . . . . . . . . . . . . . . . . . . . . . . . 20,000

Salaries payable . . . . . . . . . . . . . . . . . . . . . . . . . . 19,000

Unearned fees . . . . . . . . . . . . . . . . . . . . . . . . . . . 30,000

Long-term notes payable . . . . . . . . . . . . . . . . . . . 138,000

R.Chiara,Capital . . . . . . . . . . . . . . . . . . . . . . . . . 255,800

R.Chiara,Withdrawals . . . . . . . . . . . . . . . 46,000

Fees earned . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 484,000

Interest earned . . . . . . . . . . . . . . . . . . . . . . . . . . 24,000

Depreciation expense—Automobiles . . . . . . . . . . 26,000

Depreciation expense—Equipment . . . . . . . . . . . . 18,000

Salaries expense . . . . . . . . . . . . . . . . . . . . . . . . . . 188,000

Wages expense . . . . . . . . . . . . . . . . . . . . . . . . . . 40,000

Interest expense . . . . . . . . . . . . . . . . . . . . . . . . . 32,000

Office supplies expense . . . . . . . . . . . . . . . . . . . . 34,000

Advertising expense . . . . . . . . . . . . . . . . . . . . . . . 58,000

Repairs expense—Automobiles . . . . . . . . . . . . . . 24,800

Totals . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $1,134,800 $1,134,800

Required

1. Use the information in the adjusted trial balance to prepare (a) the income statement for the year ended December 31,2008; (b) the statement of owner’s equity for the year ended December 31,2008;and (c) the balance sheet as of December 31, 2008.

2. Calculate the profit margin for year 2008.

3-3 On April 1, 2008, Jiro Nozomi created a new travel agency, Adventure Travel. The following transactions occurred during the company’s first month..

April 1 Nozomi invested $30,000 cash and computer equipment worth $20,000 in the business.

2 Rented furnished office space by paying $1,800 cash for the first month’s (April) rent.

3 Purchased $1,000 of office supplies for cash.

10 Paid $2,400 cash for the premium on a 12-month insurance policy. Coverage begins