會计英语课后习题参考答案.docVIP

Suggested Solution Chapter 1 1. Effect on the accounting equation (1) (2) (3) (4) (5) (6) (a) Increase in one asset, decrease in another asset. √ (b) Increase in an asset, increase in a liability. (c) Increase in an asset, increase in capital. √ √ (d) Decrease in an asset, decrease in a liability. √ (e) Decrease in an asset, decrease in capital. √ √ 2. Transactions Assets +/- Liabilities +/- Owner’s equity +/- 1 + + 2 + + 3 - - 4 + + 5 + + 6 - - 7 - - 8 +/- 9 - - 10 - - 3. Describe each transaction based on the summary above. Transactions 1 Purchased land for cash, $6,000. 2 Investment for cash, $3,200. 3 Paid expense $1,200. 4 Purchased supplies on account, $800. 5 Paid owner’s personal use, $750. 6 Paid creditor, $1,500 7 Supplies used during the period, $630. 4. Assets Liabilities Equity Beginning 275,000 80,000 195,000 Add. investment 48,000 Add. Net income 27,000 Less withdrawals -35,000 Ending 320,000 85,000 235,000 5. (a) March 31, 20XX April 30, 20XX Assets Cash 4,500 5,400 Accounts receivable 2,560 4,100 Supplies 840 450 Total assets 7,900 9,950 Liabilities Accounts payable 430 690 Equity Tina Pierce, Capital 7,470 9,260 (b) net income = 9,260-7,470=1,790 (c) net income = 1,790+2,500=4,290 Chapter 2 1. To increase Notes Payable -CR To decrease Accounts Receivable-CR To increase Owner, Capital -CR To decrease Unearned Fees -DR To decrease Prepaid Insurance -CR To decrease Cash - CR To increase Utilities Expense -DR To increase Fees Earned -CR To increase Store Equipment -DR To increase Owner, Withdrawal -DR 2. Cash 1,800 Accounts payable 1,800 Revenue 4,500 Accounts receivable 4,500 Owner’s withdrawals 1,500 Salaries Expense 1,500 Accounts Receivable 750 Revenue 750 3. Prepare adjusting journal entries at December 31, the end of the year. Advertising expense 600 Prepaid