Question details

ACC 201 week 4 Assignment 1
$ 10.00

 

Chapter 7 Problems 7-26, 7-27, 7-28

Shantae Lovett

ACC: 201

LaKeitha Givens

 

 

 

 

 

 

 

 

 

4 Chapter 7 Problems 7-26, 7-27, 7-28

7-26

Artesia Co

2012 - 2013

 

Assets

Liabilities

=

Stockholders’ Equity

 

Event

Cash

+

Sales Tax Pay

-

Int. Pay

+

Notes Payable

=

Com. Stock

+

Retained Earnings

Account Title

 

2012

 

 

 

 

 

 

 

 

 

 

 

 

 

1

40,000

 

NA

 

NA

 

40,000

 

NA

 

NA

NA

 

2

127,200

 

7,200

 

NA

 

NA

 

NA

 

(120,000)

Serv. Rev.

 

3

(72,000)

 

NA

 

NA

 

NA

 

NA

 

(72,000)

OE

 

4

(6,000)

 

(6,000)

 

NA

 

NA

 

NA

 

NA

NA

 

5

NA

 

NA

 

1,5001

 

NA

 

NA

 

(1,500)

Int. Exp.

 

Bal

89,200

 

1,200

 

1,500

 

40,000

 

0

 

46,500

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2013

 

 

 

 

 

 

 

 

 

 

 

 

 

B. Bal.

89,200

 

1,200

 

1,500

 

40,000

 

0

 

46,500

 

 

1

(1,200)

 

(1,200)

 

NA

 

NA

 

NA

 

NA

NA

 

2

153,700

 

8,700

 

NA

 

NA

 

NA

 

145,000

Serv. Rev.

 

3 (a)

NA

 

NA

 

5002

 

NA

 

NA

 

(500)

Int. Exp

 

3 (b)

(42,000)

 

NA

 

(2,000)

 

NA

 

NA

 

NA

NA

 

4

(85,000)

 

NA

 

NA

 

NA

 

NA

 

(85,000)

OE

 

5

(7,200)

 

(7,200)

 

NA

 

NA

 

NA

 

NA

NA

 

Bal

107,500

 

1,500

 

0

 

0

 

0

 

106,000

 

 

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