毕晓方改编财务会计的课后习题答案第二章习题答案.doc

Solutiongs of Ch. 22-1AccountAccountNumberAccounts Payable21Accounts Receivable12Cash11Corey Krum, Capital31Corey Krum, Drawing32Fees Earned41Land13Miscellaneous Expense53Supplies Expense52Wages Expense512-2Balance Sheet AccountsIncome Statement Accounts1.Assets11Cash12Accounts Receivable13Supplies14Prepaid Insurance15 Equipment2.Liabilities21Accounts Payable22 Unearned Rent3.Owners Equity31Millard Fillmore, Capital32Millard Fillmore, Drawing4.Revenue41 Fees Earned5.Expenses51Wages Expense52Rent Expense53Supplies Expense59Miscellaneous ExpenseNote: The order of some of the accounts within the major classifications is somewhat arbitrary, as in accounts 1314 and accounts 5153. In a new business, the order of magnitude of balances in such accounts is not determinable in advance. The magnitude may also vary from period to period. 2-3a. and b.Account DebitedAccount CreditedTransactionTypeEffectTypeEffect(1)asset+owners equity+(2)asset+asset(3)asset+assetliability+(4)expense+asset(5)asset+revenue+(6)liabilityasset(7)asset+asset(8)drawing+asset(9)expense+assetEx. 24(1)Cash40,000Ira Janke, Capital40,000(2)Supplies1,800Cash1,800(3)Equipment24,000Accounts Payable15,000Cash9,000(4)Operating Expenses3,050Cash3,050(5)Accounts Receivable12,000Service Revenue12,000(6)Accounts Payable7,500Cash7,500(7)Cash9,500Accounts Receivable9,500(8)Ira Janke, Drawing5,000Cash5,000(9)Operating Expenses1,050Supplies1,0502-51.debit and credit (c)2.debit and credit (c)3.debit and credit (c)4.credit only (b)5.debit only (a)6.debit only (a)7.debit only (a)2-6a.Liabilitycreditf.Revenuecredit b.Assetdebit g.Assetdebitc.Assetdebith.Expensedebitd.Owners equity i.Assetdebit(Cindy Yost, Capital)creditj.Expensedebite.Owners equity(Cindy Yost, Drawing)debit2-7a.creditg.debitb.credith.debitc.debiti.debitd.creditj.credite.debitk.debitf.creditl.credit2-8a.Debit (negative) balance of $1,500 ($10,500 $4,000 $8,000). Such a negative balance means that the liabilities of Seths business exceed the assets.b.Yes. The balance sheet prepared at December 31 will balance, with Seth Fite, Capital, being reported in the owners equity section as a negative $1,500.2-9a.The increase of $28,750 in the cash account does not indicate earnings of that amount. Earnings will represent the net change in all assets and liabilities from operating transactions.b.$7,550 ($36,300 $28,750)2-10a.$40,550 ($7,850 + $41,850 $9,150)b.$63,000 ($61,000 + $17,500 $15,500)c.$20,800 ($40,500 $57,700 + $38,000)2-112005Aug.1Rent Expense1,500Cash1,5002Advertising Expense700Cash7004Supplies1,050Cash1,0506Office Equipment7,500Accounts Payable7,5008Cash3,600Accounts Receivable3,60012Accounts Payable1,150Cash1,15020Gayle McCall, Drawing1,000Cash1,00025Miscellaneous Expense500Cash50030Utilities Expense195Cash19531Accounts Receivable10,150Fees Earned10,15031Utilities Expense380Cash3802-12a.JOURNALPage 43Post.DateDescriptionRef.DebitCredit2006Oct.27Supplies151,320Accounts Payable211,320Purchased supplies on account.b., c., d.Supplies15Post.BalanceDateItemRef.Dr.Cr.Dr.Cr.2006Oct.1Balance58527431,3201,905Accounts Payable212006Oct.1Balance6,15027431,3207,4702-13Inequality of trial balance totals would be caused by errors described in (b) and (d).2-14ESCALADE CO.Trial BalanceDecember 31, 2006Cash13,375Accounts Receivable24,600Prepaid Insurance8,000Equipment75,000Accounts Payable11,180Unearned Rent4,250Erin Capelli, Capital82,420Erin Capelli, Drawing10,000Service Revenue83,750Wages Expense42,000Advertising Expense7,200Miscellaneous Expense1,425181,600 181,6002-15a.Gerald Owen, Drawing15,000Wages Expense15,000b.Prepaid Rent4,500Cash4,5002-16题目的资料不全, 答案略.2-17a.KMART CORPORATIONIncome StatementFor the Years Ending January 31, 2000 and 1999(in millions)Increase (Decrease)20001999AmountPercent1.Sales$37,028$35,925$1,1033.1%2.Cost of sales(29,658)(28,111)1,5475.5%3.Selling, general, and admin. expenses(7,415)(6,514)90113.8%4.Operating income (loss) before taxes$(45)$1,300$(1,345)(103.5%)b.The horizontal analysis of Kmart Corporation reveals deteriorating operating results from 1999 to 2000. While sales increased by $1,103 million, a 3.1% increase, cost of sales increased by $1,547 million, a 5.5% increase. Selling, general, and administrative expenses also increased by $901 million, a 13.8% increase. The end result was that operating income