西方财务会计课后答案第四章

CHAPTER4COMPLETIONOFTHEACCOUNTINGCYCLEASSIGNMENTCLASSIFICATIONTABLEBRIEFABSTUDYOBJECTIVES1PREPAREAWORKSHEETQUESTIONS1,2,3,4,EXERCISES1,2,3EXERCISES1,2,4,5PROBLEMS1A,2A,3A,PROBLEMS1B,2B,3B,54A,5A4B,5B2EXPLAINTHEPROCESSOFCLOSINGTHEBOOKS3DESCRIBETHECONTENTAND6,7,11,128,94,5,673,6,8,113,61A,2A,3A,4A,5A1A,2A,3A,1B,2B,3B,4B,5B1B,2B,3B,PURPOSEOFAPOSTCLOSINGTRIALBALANCE4A,5A4B,5B4STATETHEREQUIREDSTEPS10,11,128115A5BINTHEACCOUNTINGCYCLE5EXPLAINTHEAPPROACHESTO13996APREPARINGCORRECTINGENTRIES6IDENTIFYTHESECTIONSOFACLASSIFIEDBALANCESHEET14,15,16,17,18,19,102,7,101A,2A,3A,4A,5A1B,2B,3B,4B,5B207PREPAREREVERSINGENTRIES10,21,221111NOTEALLASTERISKEDQUESTIONS,EXERCISES,ANDPROBLEMSRELATETOMATERIALCONTAINEDINTHEAPPENDIXTOTHECHAPTER41ASSIGNMENTCHARACTERISTICSTABLEPROBLEMDIFFICULTYTIMEALLOTTEDNUMBER1ADESCRIPTIONPREPAREAWORKSHEET,FINANCIALSTATEMENTS,ANDADJUSTINGLEVELSIMPLEMIN4050ANDCLOSINGENTRIES2ACOMPLETEWORKSHEETANDPREPAREFINANCIALSTATEMENTS,MODERATE5060CLOSINGENTRIES,ANDPOSTCLOSINGTRIALBALANCE3APREPAREFINANCIALSTATEMENTS,CLOSINGENTRIES,ANDPOSTMODERATE4050CLOSINGTRIALBALANCE4ACOMPLETEWORKSHEETPREPAREACLASSIFIEDBALANCESHEET,MODERATE5060ADJUSTINGANDCLOSINGENTRIES,ANDPOSTCLOSINGTRIALBALANCE5A6ACOMPLETEALLSTEPSINTHEACCOUNTINGCYCLEANALYZEERRORSANDPREPARECORRECTINGENTRIESANDTRIALCOMPLEXMODERATE70904050BALANCE1BPREPAREAWORKSHEET,FINANCIALSTATEMENTS,ANDADJUSTINGSIMPLE4050ANDCLOSINGENTRIES2BCOMPLETEWORKSHEETANDPREPAREFINANCIALSTATEMENTS,MODERATE5060CLOSINGENTRIES,ANDPOSTCLOSINGTRIALBALANCE3BPREPAREFINANCIALSTATEMENTS,CLOSINGENTRIES,ANDPOSTMODERATE4050CLOSINGTRIALBALANCE4BCOMPLETEWORKSHEETPREPAREACLASSIFIEDBALANCESHEET,MODERATE5060ADJUSTINGANDCLOSINGENTRIES,ANDPOSTCLOSINGTRIALBALANCE5BCOMPLETEALLSTEPSINTHEACCOUNTINGCYCLECOMPLEX7090COMPREHENSIVEPROBLEMCHAPTERS2TO442CORRELATIONCHARTBETWEENBLOOMSTAXONOMY,STUDYOBJECTIVESANDENDOFCHAPTEREXERCISESANDPROBLEMSKNOWLEDGECOMPREHENSIONBE41Q41Q42Q43Q44Q45BE43Q47BE44BE45BE46E43E46E43E46P42AE411P45AP45BBE49E49P46ABE410E42E47E410P42AP43AP42BP43BP41AP44AP45AP41BQ422BE411E411INTERPRETINGFINANCIALREPORTINGFINANCIALGROUPDECISIONCASECOMPARATIVEANALYSISSTATEMENTSGLOBALFOCUSCOOKIECOMMUNICATIONCHRONICLEEXPLORINGTHEWEBRESEARCHCASEETHICSCASEEXPLORINGTHEWEBP44BP45BP43AP41AP42BP44AP43BP45AP41BP44BP45BE48P42AP43AP42BP43BE411P41AP44AP45AP41BP44BP45BE41E42P42AP43AP42BP43BBE42E44E45P41AP44AP45AP41BP44BP45BAPPLICATIONANALYSISSYNTHESISEVALUATIONSTUDYOBJECTIVE1PREPAREAWORKSHEET2EXPLAINTHEPROCESSOFCLOSINGQ46THEBOOKSQ411Q4123DESCRIBETHECONTENTANDPURPOSEOFAPOSTCLOSINGTRIALBALANCEQ411Q412BE48Q413Q410Q48Q49BE47Q417Q418Q419Q420Q410Q4214STATETHEREQUIREDSTEPSINTHEACCOUNTINGCYCLE5EXPLAINTHEAPPROACHESTOPREPARINGCORRECTINGENTRIES6IDENTIFYTHESECTIONSOFACLASQ414SIFIEDBALANCESHEETQ415Q4167PREPAREREVERSINGENTRIESBROADENINGYOURPERSPECTIVEBLOOMSTAXONOMYTABLE43ANSWERSTOQUESTIONS12345NOAWORKSHEETISNOTAPERMANENTACCOUNTINGRECORDTHEUSEOFAWORKSHEETISANOPTIONALSTEPINTHEACCOUNTINGCYCLETHEWORKSHEETISMERELYADEVICEUSEDTOMAKEITEASIERTOPREPAREADJUSTINGENTRIESANDTHEFINANCIALSTATEMENTSTHEAMOUNTSHOWNINTHEADJUSTEDTRIALBALANCECOLUMNFORANACCOUNTEQUALSTHEACCOUNTBALANCEINTHELEDGERAFTERADJUSTINGENTRIESHAVEBEENJOURNALIZEDANDPOSTEDTHENETINCOMEOF12,000WILLAPPEARINTHEINCOMESTATEMENTDEBITCOLUMNANDTHEBALANCESHEETCREDITCOLUMNANETLOSSWILLAPPEARINTHEINCOMESTATEMENTCREDITCOLUMNANDTHEBALANCESHEETDEBITCOLUMNFORMALFINANCIALSTATEMENTSARENEEDEDBECAUSETHECOLUMNARDATAARENOTPROPERLYARRANGEDANDCLASSIFIEDFORSTATEMENTPURPOSESFOREXAMPLE,THEDIVIDENDSACCOUNTISLISTEDWITHASSETS61234DRINDIVIDUALREVENUEACCOUNTSANDCRINCOMESUMMARYDRINCOMESUMMARYANDCRINDIVIDUALEXPENSEACCOUNTSDRINCOMESUMMARYANDCRRETAINEDEARNINGSFORNETINCOMEDRRETAINEDEARNINGSANDCRDIVIDENDS78910111213INCOMESUMMARYISATEMPORARYACCOUNTTHATISUSEDINTHECLOSINGPROCESSTHEACCOUNTISDEBITEDFOREXPENSESANDCREDITEDFORREVENUESTHEDIFFERENCE,EITHERNETINCOMEORLOSS,ISTHENCLOSEDTOTHERETAINEDEARNINGSACCOUNTTHEPOSTCLOSINGTRIALBALANCECONTAINSONLYBALANCESHEETACCOUNTSITSPURPOSEISTOPROVETHEEQUALITYOFTHEPERMANENTACCOUNTBALANCESTHATARECARRIEDFORWARDINTOTHENEXTACCOUNTINGPERIODTHEACCOUNTSTHATWILLNOTAPPEARINTHEPOSTCLOSINGTRIALBALANCEAREDEPRECIATIONEXPENSEDIVIDENDSANDSERVICEREVENUEAREVERSINGENTRYISTHEEXACTOPPOSITE,BOTHINAMOUNTANDINACCOUNTTITLES,OFANADJUSTINGENTRYANDISMADEATTHEBEGINNINGOFTHENEWACCOUNTINGPERIODREVERSINGENTRIESAREANOPTIONALSTEPINTHEACCOUNTINGCYCLETHESTEPSTHATINVOLVEJOURNALIZINGARE1JOURNALIZETHETRANSACTIONS,2JOURNALIZETHEADJUSTINGENTRIES,AND3JOURNALIZETHECLOSINGENTRIESTHETHREETRIALBALANCESARETHE1TRIALBALANCE,2ADJUSTEDTRIALBALANCE,AND3POSTCLOSINGTRIALBALANCECORRECTINGENTRIESDIFFERFROMADJUSTINGENTRIESBECAUSETHEY1ARENOTAREQUIREDPARTOFTHEACCOUNTINGCYCLE,2MAYBEMADEATANYTIME,AND3MAYAFFECTANYCOMBINATIONOFACCOUNTS44QUESTIONSCHAPTER4CONTINUED14THESTANDARDCLASSIFICATIONSINABALANCESHEETAREASSETSCURRENTASSETSLONGTERMINVESTMENTSPROPERTY,PLANT,ANDEQUIPMENTINTANGIBLEASSETSLIABILITIESANDSTOCKHOLDERSEQUITYCURRENTLIABILITIESLONGTERMLIABILITIESSTOCKHOLDERSEQUITY15161718ACOMPANYSOPERATINGCYCLEISTHEAVERAGETIMEREQUIREDTOGOFROMCASHTOCASHINPRODUCINGREVENUESCURRENTASSETSARECASHANDOTHERRESOURCESTHATAREREASONABLYEXPECTEDTOBEREALIZEDINCASHORSOLDORCONSUMEDINTHEBUSINESSWITHINONEYEAROFTHEBALANCESHEETDATEORTHECOMPANYSOPERATINGCYCLE,WHICHEVERISLONGERCURRENTASSETSARELISTEDINTHEORDEROFTHEIRLIQUIDITYLONGTERMINVESTMENTSARERESOURCESTHATCANBEREALIZEDINCASHHOWEVER,THECONVERSIONINTOCASHISNOTEXPECTEDWITHINONEYEARORTHEOPERATINGCYCLE,WHICHEVERISLONGERPROPERTY,PLANT,ANDEQUIPMENTARETANGIBLERESOURCESOFARELATIVELYPERMANENTNATURETHATAREUSEDINTHEBUSINESSANDNOTINTENDEDFORSALETHEMAJORDIFFERENCESBETWEENCURRENTLIABILITIESANDLONGTERMLIABILITIESAREDIFFERENCESOURCEOFPAYMENTTIMEOFEXPECTEDPAYMENTNATUREOFITEMSCURRENTLIABILITIESEXISTINGCURRENTASSETSOROTHERCURRENTLIABILITIESONEYEARORTHEOPERATINGCYCLEDEBTSPERTAININGTOTHEOPERATINGCYCLEANDOTHERSHORTTERMDEBTSLONGTERMLIABILITIESOTHERTHANEXISTINGCURRENTASSETSORCREATINGCURRENTLIABILITIESBEYONDONEYEARORTHEOPERATINGCYCLEMORTGAGES,BONDS,ANDOTHERLONGTERMLIABILITIES19ABTHEOWNERSEQUITYSECTIONFORACORPORATIONISCALLEDSTOCKHOLDERSEQUITYTHETWOACCOUNTSANDTHEPURPOSEOFEACHARE1CAPITALSTOCKISUSEDTORECORDINVESTMENTSOFASSETSINTHEBUSINESSBYTHEOWNERSSTOCKHOLDERS2RETAINEDEARNINGSISUSEDTORECORDNETINCOMERETAINEDINTHEBUSINESS2021THEREPORTFORMBALANCESHEETDIFFERSFROMTHEACCOUNTFORMBALANCESHEETINTHELOCATIONOFTHELIABILITIESANDSTOCKHOLDERSEQUITYSECTIONINTHEREPORTFORMTHISSECTIONISPLACEDBELOWASSETSINTHEACCOUNTFORMTHESECTIONISPLACEDTOTHERIGHTOFASSETSAFTERREVERSINGENTRIESHAVEBEENMADE,THEBALANCESWILLBEINTERESTPAYABLE,ZEROBALANCEINTERESTEXPENSE,ACREDITBALANCE22AJAN10SALARIESEXPENSE8,000CASH8,000BECAUSEOFTHEJANUARY1REVERSINGENTRYTHATCREDITEDSALARIESEXPENSEFOR4,500,SALARIESEXPENSEWILLHAVEADEBITBALANCEOF3,500WHICHEQUALSTHEEXPENSEFORTHECURRENTPERIOD45QUESTIONSCHAPTER4CONTINUEDBJAN10SALARIESPAYABLESALARIESEXPENSECASH4,5003,5008,000NOTETHATSALARIESEXPENSEWILLAGAINHAVEADEBITBALANCEOF3,50046SOLUTIONSTOBRIEFEXERCISESBRIEFEXERCISE41THESTEPSINUSINGAWORKSHEETAREPERFORMEDINTHEFOLLOWINGSEQUENCE1PREPAREATRIALBALANCEONTHEWORKSHEET,2ENTERADJUSTMENTDATA,3ENTERADJUSTEDBALANCES,4EXTENDADJUSTEDBALANCESTOAPPROPRIATESTATEMENTCOLUMNSAND5TOTALTHESTATEMENTCOLUMNS,COMPUTENETINCOMELOSS,ANDCOMPLETETHEWORKSHEETFILLINGINTHEBLANKS,THEANSWERSARE1,3,4,5,2THESOLUTIONTOBRIEFEXERCISE42ISONPAGE48BRIEFEXERCISE43INCOMESTATEMENTBALANCESHEETACCOUNTDRCRDRCRACCUMULATEDDEPRECIATIONDEPRECIATIONEXPENSECOMMONSTOCKDIVIDENDSSERVICEREVENUESUPPLIESACCOUNTSPAYABLEBRIEFEXERCISE44XXXXXXXDEC31313131SERVICEREVENUEINCOMESUMMARYINCOMESUMMARYSALARIESEXPENSESUPPLIESEXPENSEINCOMESUMMARYRETAINEDEARNINGSRETAINEDEARNINGSDIVIDENDS4750,00027,00023,0002,00050,00023,0004,00023,0002,000KEOCOMPANYWORKSHEETACCOUNTTITLES4,00058,00025,000CA1,2008001,200C800B1,10025,8001,10080059,100A1,200B1,1002,800TRIALBALANCEDRCRADJUSTMENTSDRCRADJUSTEDTRIALBALANCEDRCRINCOMESTATEMENTDRCR59,10025,800BALANCESHEETDRCR2,8001,1008001,200PREPAIDINSURANCESERVICEREVENUESALARIESEXPENSEACCOUNTSRECEIVABLESALARIESPAYABLEINSURANCEEXPENSEBRIEFEXERCISE4248BRIEFEXERCISE45SALARIESEXPENSE23,000223,000SUPPLIESEXPENSE4,00024,000INCOMESUMMARY227,000150,000323,00050,00050,000RETAINEDEARNINGS42,000323,000SERVICEREVENUE150,00050,000DIVIDENDS2,00042,000BAL21,000BRIEFEXERCISE46JULY3131GREENFEEREVENUEINCOMESUMMARYINCOMESUMMARYSALARIESEXPENSEMAINTENANCEEXPENSEGREENFEEREVENUE14,60010,70014,6008,2002,500DATEEXPLANATIONREFDEBITCREDITBALANCE14,6007/31CLOSINGENTRY14,6000SALARIESEXPENSEDATEEXPLANATIONREFDEBITCREDITBALANCE8,2007/31CLOSINGENTRY8,200049BRIEFEXERCISE46CONTINUEDMAINTENANCEEXPENSEDATEEXPLANATIONREFDEBITCREDITBALANCE2,5007/31CLOSINGENTRY2,5000BRIEFEXERCISE47THEACCOUNTSTHATWILLAPPEARINTHEPOSTCLOSINGTRIALBALANCEAREACCUMULATEDDEPRECIATIONCOMMONSTOCKSUPPLIESACCOUNTSPAYABLEBRIEFEXERCISE48THEPROPERSEQUENCINGOFTHEREQUIREDSTEPSINTHEACCOUNTINGCYCLEISASFOLLOWS123456789ANALYZEBUSINESSTRANSACTIONSJOURNALIZETHETRANSACTIONSPOSTTOLEDGERACCOUNTSPREPAREATRIALBALANCEJOURNALIZEANDPOSTADJUSTINGENTRIESPREPAREANADJUSTEDTRIALBALANCEPREPAREFINANCIALSTATEMENTSJOURNALIZEANDPOSTCLOSINGENTRIESPREPAREAPOSTCLOSINGTRIALBALANCEFILLINGINTHEBLANKS,THEANSWERSARE4,2,8,7,5,3,9,6,1BRIEFEXERCISE491SERVICEREVENUEACCOUNTSRECEIVABLE410780780BRIEFEXERCISE49CONTINUED2ACCOUNTSPAYABLE1,8501,580STORESUPPLIES270270BRIEFEXERCISE410KRENCOMPANYPARTIALBALANCESHEETCURRENTASSETSCASHSHORTTERMINVESTMENTSACCOUNTSRECEIVABLESUPPLIESPREPAIDINSURANCETOTALCURRENTASSETSBRIEFEXERCISE41118,4006,70012,5005,2003,60046,400NOV1SALARIESPAYABLE1,200SALARIESEXPENSE1,200THEBALANCESAFTERPOSTINGTHEREVERSINGENTRYARESALARIESEXPENSECR1,200ANDSALARIESPAYABLE0411SOLUTIONSTOEXERCISESEXERCISE41CAJONCOMPANYPARTIALWORKSHEETFORTHEMONTHENDEDAPRIL30,2006ADJUSTEDTRIALBALANCEINCOMESTATEMENTBALANCESHEETACCOUNTTITLESDRCRDRCRDRCRCASHACCOUNTSRECEIVABLEPREPAIDRENTEQUIPMENTACCUMDEPRECIATIONNOTESPAYABLEACCOUNTSPAYABLECOMMONSTOCKRETAINEDEARNINGSDIVIDENDSSERVICEREVENUESALARIESEXPENSERENTEXPENSEDEPRECIATIONEXPENSEINTERESTEXPENSE14,7527,8402,28023,0503,6509,840760671574,9215,7005,67225,0008,96012,5909,8407606715712,59014,7527,8402,28023,0503,6504,9215,7005,67225,0008,960INTERESTPAYABLETOTALSNETINCOMETOTALS_62,9005762,900_11,3281,26212,590_12,590_12,590_51,572_51,5725750,3101,26251,572412EXERCISE42CAJONCOMPANYINCOMESTATEMENTFORTHEMONTHENDEDAPRIL30,2006REVENUESSERVICEREVENUEEXPENSESSALARIESEXPENSERENTEXPENSEDEPRECIATIONEXPENSEINTERESTEXPENSETOTALEXPENSESNETINCOMECAJONCOMPANYRETAINEDEARNINGSSTATEMENTFORTHEMONTHENDEDAPRIL30,20069,8407606715712,59011,3281,262RETAINEDEARNINGS,APRIL1ADDNETINCOMELESSDIVIDENDSRETAINEDEARNINGS,APRIL30CAJONCOMPANYBALANCESHEETAPRIL30,2006ASSETSCURRENTASSETSCASHACCOUNTSRECEIVABLEPREPAIDRENTTOTALCURRENTASSETSPROPERTY,PLANT,ANDEQUIPMENT8,9601,26210,2223,6506,57214,7527,8402,28024,872EQUIPMENT23,050LESSACCUMULATEDDEPRECIATIONTOTALASSETS4134,92118,12943,001EXERCISE42CONTINUEDCAJONCOMPANYBALANCESHEETCONTINUEDAPRIL30,2006LIABILITIESANDSTOCKHOLDERSEQUITYCURRENTLIABILITIESNOTESPAYABLEACCOUNTSPAYABLEINTERESTPAYABLETOTALCURRENTLIABILITIESSTOCKHOLDERSEQUITY5,7005,6725711,429COMMONSTOCKRETAINEDEARNINGSTOTALSTOCKHOLDERSEQUITYTOTALLIABILITIESANDSTOCKHOLDERSEQUITYEXERCISE4325,0006,57231,57243,001AAPR30303030BSERVICEREVENUEINCOMESUMMARYINCOMESUMMARYSALARIESEXPENSERENTEXPENSEDEPRECIATIONEXPENSEINTERESTEXPENSEINCOMESUMMARYRETAINEDEARNINGSRETAINEDEARNINGSDIVIDENDS12,59011,3281,2623,65012,5909,840760671571,2623,650INCOMESUMMARYRETAINEDEARNINGS2311,328112,5901,26212,59012,59043,650BAL8,96031,262BAL6,572414EXERCISE43CONTINUEDCCAJONCOMPANYPOSTCLOSINGTRIALBALANCEAPRIL30,2006DEBITCREDITCASHACCOUNTSRECEIVABLEPREPAIDRENTEQUIPMENTACCUMULATEDDEPRECIATIONNOTESPAYABLEACCOUNTSPAYABLEINTERESTPAYABLECOMMONSTOCK14,7527,8402,28023,0504,9215,7005,6725725,000RETAINEDEARNINGSEXERCISE44_47,9226,57247,922AACCOUNTSRECEIVABLESERVICEREVENUEINSURANCEEXPENSEPREPAIDINSURANCEDEPRECIATIONEXPENSEACCUMULATEDDEPRECIATIONSALARIESEXPENSESALARIESPAYABLE415600400900500600400900500EXERCISE44CONTINUEDBINCOMESTATEMENTBALANCESHEETDRCRDRCRACCOUNTSRECEIVABLEPREPAIDINSURANCEACCUMDEPRECIATIONSALARIESPAYABLESERVICEREVENUESALARIESEXPENSEINSURANCEEXPENSEDEPRECIATIONEXPENSEXXXXXXXXEXERCISE45AACCOUNTSRECEIVABLE27,00034,0007,000SUPPLIES3,0007,0004,000ACCUMULATEDDEPRECIATION22,00012,00010,000SALARIESPAYABLE0NOLIABILITYRECORDEDUNTILADJUSTMENTSAREMADEINSURANCEEXPENSE8,00026,00018,000SALARIESEXPENSE44,00049,0005,000BACCOUNTSRECEIVABLESERVICEREVENUEINSURANCEEXPENSEPREPAIDINSURANCESUPPLIESEXPENSESUPPLIESDEPRECIATIONEXPENSEACCUMULATEDDEPRECIATIONSALARIESEXPENSESALARIESPAYABLE4167,0008,0004,00010,0005,0007,0008,0004,00010,0005,000EXERCISE46AGENERALJOURNALJ15DATEJULY31ACCOUNTTITLESANDEXPLANATIONCOMMISSIONREVENUEREF404DEBIT67,000CREDITRENTREVENUEINCOMESUMMARY4293506,50073,500313131INCOMESUMMARYSALARIESEXPENSEUTILITIESEXPENSEDEPRECIATIONEXPENSERETAINEDEARNINGSINCOMESUMMARYRETAINEDEARNINGSDIVIDENDS35072073271132035032033274,6001,10016,00055,70014,9004,0001,10016,000BRETAINEDEARNINGSNO320DATEJULY31EXPLANATIONBALANCEREFDEBITCREDITBALANCE25,2003131CLOSENETLOSSCLOSEDIVIDENDSJ15J151,10016,00024,1008,100INCOMESUMMARYNO350DATEJULY313131EXPLANATIONREFDEBITCLOSEREVENUESJ15CLOSEEXPENSESJ1574,600TRANSFERNETLOSSJ15CREDIT73,5001,100BALANCE73,5001,1000417EXERCISE46CONTINUEDCLANZACOMPANYPOSTCLOSINGTRIALBALANCEJULY31,2006DEBITCREDITCASHACCOUNTSRECEIVABLEEQUIPMENTACCUMULATEDDEPRECIATIONACCOUNTSPAYABLEUNEARNEDRENTREVENUECOMMONSTOCK14,8408,78015,9005,4004,2201,80020,000RETAINEDEARNINGSEXERCISE47ALANZACOMPANY_39,5208,10039,520INCOMESTATEMENTFORTHEYEARENDEDJULY31,2006REVENUESCOMMISSIONREVENUERENTREVENUETOTALREVENUESEXPENSESSALARIESEXPENSEUTILITIESEXPENSEDEPRECIATIONEXPENSETOTALEXPENSESNETLOSS55,70014,9004,00067,0006,50073,50074,6001,100LANZACOMPANYRETAINEDEARNINGSSTATEMENTFORTHEYEARENDEDJULY31,2006RETAINEDEARNINGS,AUGUST1,2005LESSNETLOSS1,10025,200DIVIDENDSRETAINEDEARNINGS,JULY31,200641816,00017,1008,100EXERCISE47CONTINUEDBCURRENTASSETSLANZACOMPANYBALANCESHEETJULY31,2006ASSETSCASHACCOUNTSRECEIVABLETOTALCURRENTASSETSPROPERTY,PLANT,ANDEQUIPMENTEQUIPMENT15,90014,8408,78023,620LESSACCUMULATEDDEPRECIATIONTOTALASSETSLIABILITIESANDSTOCKHOLDERSEQUITYCURRENTLIABILITIESACCOUNTSPAYABLEUNEARNEDRENTREVENUETOTALCURRENTLIABILITIES5,40010,50034,1204,2201,8006,020STOCKHOLDERSEQUITYCOMMONSTOCK20,000RETAINEDEARNINGSTOTALSTOCKHOLDERSEQUITYTOTALLIABILITIESANDSTOCKHOLDERSEQUITYEXERCISE488,10028,10034,120AJUNE30303030SERVICEREVENUEINCOMESUMMARYINCOMESUMMARYSALARIESEXPENSESUPPLIESEXPENSERENTEXPENSEINCOMESUMMARYRETAINEDEARNINGSRETAINEDEARNINGSDIVIDENDS41916,10013,1003,0002,50016,1008,8001,3003,0003,0002,500EXERCISE48CONTINUEDBINCOMESUMMARYJUNE3013,100JUNE3016,100JUNE303,00016,10016,100EXERCISE49123ACCOUNTSPAYABLE830380CASHSUPPLIESEQUIPMENTACCOUNTSPAYABLEDIVIDENDSSALARIESEXPENSE45056040045056504400EXERCISE410ACURRENTASSETSREGOBOWLINGALLEYINCBALANCESHEETDECEMBER31,2006ASSETSCASHACCOUNTSRECEIVABLEPREPAIDINSURANCETOTALCURRENTASSETSPROPERTY,PLANT,ANDEQUIPMENTLANDBUILDING128,80064,00018,04014,5204,68037,240LESSACCDEPRBUILDINGEQUIPMENT45,60062,40083,200LESSACCDEPREQUIPMENTTOTALASSETS18,72043,680190,880228,120420EXERCISE410CONTINUEDREGOBOWLINGALLEYINCBALANCESHEETCONTINUEDDECEMBER31,2006LIABILITIESANDSTOCKHOLDERSEQUITYCURRENTLIABILITIESCURRENTPORTIONOFMORTGAGEPAYABLEACCOUNTSPAYABLEINTERESTPAYABLETOTALCURRENTLIABILITIESLONGTERMLIABILITIESMORTGAGEPAYABLE94,78013,600TOTALLIABILITIESSTOCKHOLDERSEQUITYCOMMONSTOCK100,00013,60012,3002,60028,50081,180109,680RETAINEDEARNINGS15,0003,440TOTALSTOCKHOLDERSEQUITYTOTALLIABILITIESANDSTOCKHOLDERSEQUITY18,440118,440228,120NETINCOME14,1807807,3602,6003,440BCURRENTASSETSEXCEEDCURRENTLIABILITIESBY8,74037,24028,500INADDITION,APPROXIMATELY50OFCURRENTASSETSAREINTHEFORMOFCASHINSUM,THECOMPANYSLIQUIDITYAPPEARSTOBEREASONABLYGOODEXERCISE411ADEC3131BJAN11COMMISSIONREVENUEINCOMESUMMARYINCOMESUMMARYINTERESTEXPENSECOMMISSIONREVENUEACCOUNTSRECEIVABLEINTERESTPAYABLEINTERESTEXPENSE42192,0007,8004,2001,50092,0007,8004,2001,500EXERCISE411CONTINUEDCBDEPRECIATIONEXPENSEDCSERVICEREVENUEEARNEDDSALARIESACCRUEDPROBLEM41A423PROBLEM41ACONTINUEDBREVENUESUNDERCOVERROOFINGINCINCOMESTATEMENTFORTHEMONTHENDEDMARCH31,2006SERVICEREVENUEEXPENSESSALARIESEXPENSESUPPLIESEXPENSEDEPRECIATIONEXPENSEMISCELLANEOUSEXPENSETOTALEXPENSESNETINCOMEUNDERCOVERROOFINGINCRETAINEDEARNINGSSTATEMENTFORTHEMONTHENDEDMARCH31,20061,0509602002003,1702,410760RETAINEDEARNINGS,MARCH1ADDNETINCOMELESSDIVIDENDSRETAINEDEARNINGS,MARCH31UNDERCOVERROOFINGINCBALANCESHEETMARCH31,2006ASSETSCURRENTASSETSCASHACCOUNTSRECEIVABLEROOFINGSUPPLIESTOTALCURRENTASSETSPROPERTY,PLANT,ANDEQUIPMENT2,0007602,7606002,1602,5001,8001404,440EQUIPMENT6,000LESSACCUMDEPRECIATIONEQUIPMENTTOTALASSETS4241,4004,6009,040PROBLEM41ACONTINUEDUNDERCOVERROOFINGINCBALANCESHEETCONTINUEDMARCH31,2006LIABILITIESANDSTOCKHOLDERSEQUITYCURRENTLIABILITIESACCOUNTSPAYABLESALARIESPAYABLEUNEARNEDREVENUETOTALCURRENTLIABILITIESSTOCKHOLDERSEQUITYCOMMONSTOCK5,0001,4003501301,880RETAINEDEARNINGSTOTALSTOCKHOLDERSEQUITYTOTALLIABILITIESANDSTOCKHOLDERSEQUITY2,1607,1609,040CMAR31313131DMAR31313131SUPPLIESEXPENSEROOFINGSUPPLIESDEPRECIATIONEXPENSEACCUMULATEDDEPRECIATIONUNEARNEDREVENUESERVICEREVENUESALARIESEXPENSESALARIESPAYABLESERVICEREVENUEINCOMESUMMARYINCOMESUMMARYSALARIESEXPENSESUPPLIESEXPENSEDEPRECIATIONEXPENSEMISCELLANEOUSEXPENSEINCOMESUMMARYRETAINEDEARNINGSRETAINEDEARNINGSDIVIDENDS4259602001703503,1702,4107606009602001703503,1701,050960200200760600PROBLEM42AAEAGLECOMPANYPARTIALWORKSHEETFORTHEYEARENDEDDECEMBER31,2006ADJUSTEDINCOMEBALANCEACCOUNTTRIALBALANCESTATEMENTSHEETNOTITLESDRCRDRCRDRCR101112126130151152200201212230311320332400610631711722726CASHACCOUNTSRECEIVABLESUPPLIESPREPAIDINSURANCEOFFICEEQUIPMENTACCDEPROFFEQUIPNOTESPAYABLEACCOUNTSPAYABLESALARIESPAYABLEINTERESTPAYABLECOMMONSTOCKRETAINEDEARNINGSDIVIDENDSSERVICEREVENUEADVERTISINGEXPENSESUPPLIESEXPENSEDEPRECIATIONEXPENSEINSURANCEEXPENSESALARIESEXPENSE13,60015,4002,0002,80034,00010,00012,0005,7008,0005,00042,0008,00020,0006,0003,50080020,0005,00088,00012,0005,7008,0005,00042,00088,00013,60015,4002,0002,80034,00010,0008,00020,0006,0003,50080020,0005,000905INTERESTEXPENSE800_800_TOTALSNETINCOMETOTALS