毕晓方改编+《财务会计》的课后习题答案第二章习题答案.docVIP

Solutiongs of Ch. 2 2-1 Account Account Number Accounts Payable 21 Accounts Receivable 12 Cash 11 Corey Krum, Capital 31 Corey Krum, Drawing 32 Fees Earned 41 Land 13 Miscellaneous Expense 53 Supplies Expense 52 Wages Expense 51 2-2 Balance Sheet Accounts Income Statement Accounts  1. Assets 11 Cash 12 Accounts Receivable 13 Supplies 14 Prepaid Insurance Equipment 2. Liabilities 21 Accounts Payable Unearned Rent 3. Owners Equity 31 Millard Fillmore, Capital 32 Millard Fillmore, Drawing  4. Revenue Fees Earned 5. Expenses 51 Wages Expense 52 Rent Expense 53 Supplies Expense 59 Miscellaneous Expense Note: The order of some of the accounts within the major classifications is somewhat arbitrary, as in accounts 13–14 and accounts 51–53. 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. 2-3 a. and b. Account Debited Account Credited Transaction Type Effect Type Effect (1) asset + owners equity + (2) asset + asset – (3) asset + asset – liability + (4) expense + asset – (5) asset + revenue + (6) liability – asset – (7) asset + asset – (8) drawing + asset – (9) expense + asset – Ex. 2–4 (1) Cash 40,000 Ira Janke, Capital 40,000 (2) Supplies 1,800 Cash 1,800 (3) Equipment 24,000 Accounts Payable 15,000 Cash 9,000 (4) Operating Expenses 3,050 Cash 3,050 (5) Accounts Receivable 12,000 Service Revenue 12,000 (6) Accounts Payable 7,500 Cash 7,500 (7) Cash 9,500 Accounts Receivable 9,500 (8) Ira Janke, Drawing 5,000 Cash 5,000 (9) Operating Expenses 1,050 Supplies 1,050 2-5 1. 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) 2-6 a. Liability—credit f. Revenue—credit b. Asset—debit g. Asset—debit c.