Scribd
Upload
124 views2 pages

Accounting Assignment 6

This document contains an assignment with 5 problems: 1) Two journal entries recording cash and supplies expenses. 2) Calculating current assets and total liabilities amounts. 3) Presenting a balance sheet for Juxton Company with assets, liabilities, and equity sections. 4) Presenting an income summary and owners' equity statement for Gentry's Shoe Repair Company for one month. 5) Identifying accounting terms from a list of letters.

Uploaded by

Nahid Hawk
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
124 views2 pages

Accounting Assignment 6

This document contains an assignment with 5 problems: 1) Two journal entries recording cash and supplies expenses. 2) Calculating current assets and total liabilities amounts. 3) Presenting a balance sheet for Juxton Company with assets, liabilities, and equity sections. 4) Presenting an income summary and owners' equity statement for Gentry's Shoe Repair Company for one month. 5) Identifying accounting terms from a list of letters.

Uploaded by

Nahid Hawk
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
You are on page 1/ 2

Assignment # 6

ASM Nahidul Haque


ID: 17374016

Problem 1
a Cash 5000
Supplies Expense 5000

b Accounts Payable 1000


Equipment 1000

Problem 2

A Current Assets = 5500+11000+1000 = 17500


B Total Labilities = 2000

Problem 3
Juxton Company
Balance Sheet
For the year ended on Dec 31, 2008

Assets
Current Asset
Liabilities and Owners Equity
Cash 2600
Short term Current Liabilities
investments 1000 Accounts Payable 2700
Accounts receivable 1500 Total Current Liabilities 2700
Total current assets 5100
Long Term Liabilities
Long term Investment 6900 Notes Payable(Due in 5
Years) 7500
Property, Plant and Equipment
Equipment 7500 Total Long Term Liabilities 7500
Less: Accumulated
Total Liabilities 10200
depreciation,
equipment 4000
Owners Equity
3500
Juxton, Capital 7800
Intangible Assets 2500
Total Assets
Total Libilities and Owners equity 18000
18000
Problem 4
a
1 Shoe repair revenue 7500 b Gentry's Shoe Repair Company
Income Summary 7500 Owners Equity Statement
For the month ended on April 30, 2008
2 Income Summary 5800 Gentry, Capital, April 1 12900
Salaries Expense 3400 Add: Net Income 1700
Depreciation Expense 350 14600
Utilities Expense 400 Less: Drawing 3000
Rent Expense 600 Gentry, Capital, April 30 11600
Supplies Expense 1050

3 Income Summary 1700


Gentry, Capital 1700

4 Gentry, Capital 3000


Drawings 3000

Problem 5
Items 1 2 3 4 5 6 7 8 9 10
Ans: C G H E H A D A F B

You might also like

pFad - Phonifier reborn

Pfad - The Proxy pFad of © 2024 Garber Painting. All rights reserved.

Note: This service is not intended for secure transactions such as banking, social media, email, or purchasing. Use at your own risk. We assume no liability whatsoever for broken pages.


Alternative Proxies:

Alternative Proxy

pFad Proxy

pFad v3 Proxy

pFad v4 Proxy