Accounting Analysis

Problem 3-7A

Accounting Equation

DatedAssets = Liabilities + Owners Equity

Oct 1IncreaseIncrease

Oct2IncreaseIncreaseIncrease

Oct3IncreaseIncreaseIncrease

Oct9No effect

Oct12Decrease

Oct13Increase

Oct17Increase

Oct23Increase

Oct24Increase

Oct26Decrease

Oct27Decrease

Oct30Decrease

Oct31Increase

Problem 3-8A

Journal Entries

Debit ($)Credit ($)

Cash 50000

Share Capital 50000

Rent Expense400

Cash400

Bank50000

Note Payable50000

Cash5000

Unearned Income5000

Prepaid Software10950

Cash10950

Billed Receivable12500

Service Income12500

Office Personnel Expense3000

Cash3000

Utility Bill Expense100

Cash100

General Ledger

Cash

50000

d) 5000 400

e) 10950

g) 3000

h) 100

Balance c/d 40550

Bank

50000

Share Capital

50000

Rent Expense

400

Note Payable

c). 50000

Unearned Income

5000

Prepaid Software

10950

Billed Receivable

12500

Service Income

f) 12500

Office Personnel Expense

3000

Utility Bill Expense

100

Trial Balance

As on 29Feb, 2008

S #

Name of Account

Debit

Credit

1

Cash

40550

2

Bank

50000

3

Share Capital

50000

4

Rent Expense

400

5

Note Payable

50000

6

Unearned Income

5000

7

Prepaid Software

10950

8

Bill Receivable

12500

9

Service Income

12500

10

Office Personnel Expense

3000

11

Utility Bill Expense

100

Total

117500

117500

Problem 3-9 A

Trial Balance

Account Titles

Debit $

Credit $

Cash

38700

Account Receivable

30500

Equipment and Fixture

50000

Wages Payable

10000

Notes Payable

50000

Capital Stock

40000

Service Revenue

60500

Wages and Salary Expense

24600

Advertising Expense

12500

Rent Expense

5200

Total

160500

160500

Cash Account

Capital ...