财务会计(双语)第三章答案

This problem provides practice in journals and ledgers.
1. and 3. To save space, the year 20X8 is not shown in these accounts. All items dated 1/1 are the balances as
of January 1, 20X8. Balances as of January 31, 20X8 are denoted with **.
17,000
17,100
Accumulated Depreciation, Depreciation Expense,
Depreciation Expense,
Accumulated Depreciation
2. Jan. 2 Cash 3,000
Accounts receivable 3,000 Collections on account.
Jan. 3 Cash 4,200
Parts revenue 700
Labor revenue 3,500 Services rendered.
Jan. 3 Costs of parts sold 300
Parts inventory 300 Cost of parts sold to customers.
Jan. 7 Legal expenses 500
Cash 500 Paid legal costs.
Jan. 9 Parts inventory 900
Accounts payable 900 Acquired parts on open account.
Jan. 11 Wa ges expense 1,000
Cash 1,000 Wa ges paid.
Jan. 13 Repairs expense 500
Cash 500 Repairs to truck.
Jan. 19 Accounts receivable 3,600
Parts revenue 800
Labor revenue 2,800 Services rendered to hotel.
Jan. 19 Cost of parts sold 500
Parts inventory 500 Cost of parts sold to hotel.
Jan. 24 Wa ges expense 1,300
Cash 1,300 Wa ges paid.
Jan. 27 Accounts payable 1,500
Cash 1,500 Disbursements on account.
Jan. 31 Rent expense 1,000
Prepaid rent 1,000 Rent expense for January.
Jan. 31 Depreciation expense, trucks 600
Depreciation expense, equipment 200
Accumulated dep., trucks 600
Accumulated dep., equipment 200 Depreciation for January.
Jan. 31 Gasoline expense 300
Cash 300 Paid local service station for gas.
Jan. 31 Wa ges expense 900
Cash 900 Wa ges paid.
3. Answered in conjunction w ith Requirement 1.
4.See next page
5. C1 Parts revenue 1,500
Labor revenue 6,300
Income summary 7,800
C2 Income summary 7,100
Cost of parts sold 800
Wages expense 3,200
Rent expense 1,000
Legal expense 500
Repairs expense 500
Depreciation expense, trucks 600
Depreciation expense, equipment 200
Gasoline expense 300
C3 Income Summary 700
Retained income 700
4. HA WKEY E APPLIANCE REPAIR SERVICE, INC.
Trial Balance
January 31, 20X8
Cash $ 6,200
Accounts receivable 4,600
Parts inventory2,100
Prepaid rent 1,000
Trucks 36,000
Equipment 8,000
Accumulated depreciation, trucks $ 15,600 Accumulated depreciation, equipment 5,200 Accounts payable 2,300 Paid-in capital 17,000 Retained income 17,100 Parts revenue 1,500 Labor revenue 6,300 Cost of parts sold 800
Wa ges expense 3,200
Rent expense 1,000
Legal expense 500
Repairs expense 500
Depreciation expense, trucks 600
Depreciation expense, equipment 200
Gasoline expense 300
Totals $65,000 $65,000
3-38 (35-40 min.) Amounts are in millions of dollars.
Post.
Ref. Debit Credit 1. a. Cash 2,100
Revenues, company-owned
restaurants 2,100 Cash sales
b. Accounts and notes receivable 500
Revenues from franchised
restaurants 500 Fees due from independent
owners of outlets
c. Inventories 827
Notes and accounts payable 827 Purchases on account
d. Cost of goods sold 820
Inventories 820 Inventories sold
e. Depreciation expense 226
Accumulated depreciation 226 Depreciation for year
f. Prepaid expenses 42
Cash 42 Rents and insurance premiums
g. Operating expenses 37
Prepaid expenses 37 Expirations
h. Other liabilities 148
Cash 148 Disbursements to reduce liabilities
i. Cash 590
Accounts and notes receivable 590 Collections
j. Notes and accounts payable 747
Cash 747 Disbursements to creditors
k. Interest expense 100
Cash 100 Disbursements for interest
l. Operating expenses 1,510
Cash 1,510 Outlays for miscellaneous expenses
2. Beginning balance is 1/1/00. Ending balance is 12/31/00. Double rules are not
drawn for accounts containing a lone number. That number automatically serves
as the ending balance.
Notes and
Accounts and
Revenues, Company-
Revenues from Prepaid Expenses Depreciation Expense Franchised
(e) 226 (b) 500
Property and
3-38 (continued)
3. McDONALD'S CORPORATION
Trial Balance
December 31, 2000
(In Millions)
Cash $ 563
Accounts and notes receivable 618
Inventories 90
Prepaid expenses 367
Property and equipment, at cost 22,451
Other assets 3,085
Accumulated depreciation $ 6,352 Notes and accounts payable 1,739 Other liabilities 9,537 Paid-in capital 1,305 Retained earnings 8,334 Revenues, company-owned
restaurants 2,100 Revenues from franchised
restaurants 500 Cost of goods sold 820
Operating expenses 1,547
Depreciation expense 226
Interest expense 100
Totals $29,867 $29,867
3-39 (35-40 min.) Amounts are in millions of dollars.
Post.
Ref. Debit Credit 1. a. Inventories 1,750
Accounts payable 1,750 Bought inventories on account
b1. Accounts receivable 2,500
Sales 2,500 Sales on account
b2. Cost of goods sold 1,600
Inventories 1,600 Cost of goods sold on account
c. Cash 2,550
Accounts receivable 2,550 Collections from customers
d. Accounts payable 1,650
Cash 1,650 Disbursements to creditors
e. Operating expenses 300
Cash 300 Advertising
f. Prepaid expenses 20
Cash 20 Rents and insurance
g. Operating expenses 18
Prepaid expenses 18 Expirations
h. Other liabilities 110
Cash 110 Pay ment in cash
i. Interest expense 13
Cash 13 Disbursements for interest
j. Operating expenses 50
Property and equipment, net 50 To record depreciation
k. Cash 10
Paid-in-capital 10 To record sale of shares
2. Beginning balance is 1/1/00. Ending balance is 12/31/00. Double rules are not drawn for accounts
containing a lone number. That number automatically serves as the ending balance.
605
Property and
Other Assets Interest
(i) 13
3-39 (continued)
3. KELLOGG COMPANY
Trial Balance
December 31, 2000
(In Millions)
Cash $ 618
Accounts receivable 629
Inventories 654
Property and equipment, net 2,591
Prepaid expenses 2
Other assets 834
Accounts payable $ 405 Other liabilities 3,581 Paid-in capital 218 Retained earnings 605 Sales 2,500 Cost of goods sold 1,600
Operating expenses 368
Interest expense 13
Totals $7,309 $7,309
4. Cash increased because cash collected on accounts receivable greatly exceeded cash payments on
accounts payable and other cash disbursements.。