SOLUTIONS TO EXERCISES—set B Full file at https://testbankuniv.eu/College-Accounting-A-Practical-Approach-Canadian-12th-Edition-Slater-Solutions-Manual
EXERCISE 2-1B.
EXERCISE 2-4B.
Balance Sheet Accounts Assets 111 Cash 112 Accounts Receivable 121 Office Equipment Liabilities 211 Accounts Payable Owner’s Equity 311 L. Jones, Capital 312 L. Jones, Withdrawals Income Statement Accounts Revenue 411 Legal Fees Expenses 511 Cleaning Expense 512 Office Assistance Expense 513 Rent Expense
Dr. Cr. A. 11 1 B. 6 1 C. 12 4 D. 1 7 E. 2 7 F. 3 4 G. 10 4 H. 1 2
I. 3 5
EXERCISE 2-2B. 1.
Accounts Affected
2. 3. 4. Category
5.
Rules T-Account Update
Computer Equipment Asset Dr. Accounts Payable Liability Cr.
Computer Equipment
21,000 Accounts Payable
Cash Asset Cr.
16,000 Cash
5,000
EXERCISE 2-3B. ACCOUNT Supplies Legal Fees Earned P. Rey, Withdrawals Cash Accounts Receivable Rent Expense
CATEGORY Asset Revenue Owner’s Equity (Withdrawals) Asset Asset Expense
Dr. Cr. Dr.
FINANCIAL Cr. Balance Sheet Dr. Income Statement Cr. Statement of Owner’s Equity
Dr. Dr. Dr.
Cr. Cr. Cr.
Balance Sheet Balance Sheet Income Statement
© 2015 Pearson Canada All Rights Reserved
2-5A
Full file at https://testbankuniv.eu/College-Accounting-A-Practical-Approach-Canadian-12th-Edition-Slater-Solutions-Manual 19/02/16
M02_SLAT7156_12_ISM_C02.indd 5
2:37 PM