HORNGREN'S FINANCIAL & MANGERIAL ACCOUNT
7th Edition
ISBN: 9780136505273
Author: MILLER-NOBLES
Publisher: PEARSON
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Listed below are the transactions of Joseph Moore, D.D.S., for the month of September.
Sept. 1
2
4
4
5
8
10
14
18
19
20
25
30
30
Moore begins practice as a dentist, invests $20,030 cash and issues 2,003 shares of $10 par stock.
Purchases dental equipment on account from Green Jacket Co. for $17,820.
Pays rent for office space, $690 for the month.
Employs a receptionist, Michael Bradley.
Purchases dental supplies for cash, $900.
Receives cash of $1,770 from patients for services performed.
Pays miscellaneous office expenses, $420.
Bills patients $5,950 for services performed.
Pays Green Jacket Co. on account, $3,760.
Pays a dividend of $3,090 cash.
Receives $1,060 from patients on account.
Bills patients $1,980 for services performed.
Pays the following expenses in cash: Salaries and wages $1,700; miscellaneous office expenses $83.
Dental supplies used during September, $320.
Record depreciation using a 5-year life on the equipment, the straight-line method, and no salvage value.
Instructions:
Use the following account titles: Cash, Accounts Receivable, Notes Receivable, Medical Supplies, Office
Equipment, Furniture and Fixtures, Accounts Payable, Notes Payable, Salaries Payable, Mateo, Capital,
Mateo Drawing, Service Revenue, Rent Expense, Salaries Expense, Taxes and Licenses Expense, Supplies
Expense, Advertising Expense, and Utilities Expense
a. Journalize the transactions below.
b. Posting the transactions to their corresponding t-accounts.
c. Prepare the unadjusted trial balance
Arianne Mateo established a business called ASM Medical Clinic on September 1, 2018. The following
are the transactions occurred during the month of September 2018.
1
Ms. Mateoo deposited cash amounting to P350,000 under the name of the company.
1
Tables and chairs were purchased from JohnD Furniture at a total cost of P300,000, 40% on cash
and balance by issuing a promissory payable after thirty (30) days.
Registered the business name with DTI and paid P5,000.
9
Hired 2 clinic…
Prepare general journal entries to record the transactions below for Spade Company by using the following accounts: Cash; Accounts Receivable; Office Supplies; Office Equipment; Accounts Payable; K. Spade, Capital; K. Spade, Withdrawals; Fees Earned; and Rent Expense. Use the letters beside eachtransaction to identify entries. After recording the transactions, post them to T-accounts, which serve as the general ledger for this assignment. Determine the ending balance of each T-account.
Chapter 2 Solutions
HORNGREN'S FINANCIAL & MANGERIAL ACCOUNT
Ch. 2 - The detailed record of the changes in a particular...Ch. 2 - Which of the following accounts is a liability? a....Ch. 2 - The left side of an account is used to record...Ch. 2 - Which of the following statements is correct? a....Ch. 2 - Prob. 5QCCh. 2 - Prob. 6QCCh. 2 - Posting a 2,500 purchase of office supplies on...Ch. 2 - Prob. 8QCCh. 2 - Which sequence correctly summarizes the accounting...Ch. 2 - Nathville Laundry reported assets of 800 and...
Ch. 2 - Identify the three categories of the accounting...Ch. 2 - What is the purpose of the chart of accounts?...Ch. 2 - What does a ledger show? Whats the difference...Ch. 2 - Prob. 4RQCh. 2 - Prob. 5RQCh. 2 - Prob. 6RQCh. 2 - When are credits increases? When are credits...Ch. 2 - Prob. 8RQCh. 2 - What are source documents? Provide examples of...Ch. 2 - Prob. 10RQCh. 2 - Explain the five steps in journalizing and posting...Ch. 2 - Prob. 12RQCh. 2 - Prob. 13RQCh. 2 - What is the purpose of the trial balance?Ch. 2 - Prob. 15RQCh. 2 - If total debits equal total credits on the trial...Ch. 2 - What is the calculation for the debt ratio?...Ch. 2 - Identifying accounts Consider the following...Ch. 2 - Identifying increases and decreases in accounts...Ch. 2 - Identifying normal balances For each account,...Ch. 2 - Prob. 2.4SECh. 2 - Prob. 2.5SECh. 2 - Prob. 2.6SECh. 2 - Prob. 2.7SECh. 2 - Prob. 2.8SECh. 2 - Prob. 2.9SECh. 2 - Using accounting vocabulary March the accounting...Ch. 2 - Creating a chart of accounts Raymond Autobody Shop...Ch. 2 - Identifying accounts, increases in accounts, and...Ch. 2 - Identifying increases and decreases in accounts...Ch. 2 - Identifying source documents For each transaction,...Ch. 2 - Analyzing and journalizing transactions As the...Ch. 2 - Prob. 2.17ECh. 2 - Prob. 2.18ECh. 2 - Analyzing transactions from T-accounts The first...Ch. 2 - Prob. 2.21ECh. 2 - Prob. 2.22ECh. 2 - Prob. 2.23ECh. 2 - Prob. 2.24ECh. 2 - Prob. 2.25ECh. 2 - Prob. 2.26ECh. 2 - Prob. 2.27ECh. 2 - Prob. 2.28ECh. 2 - Prob. 2.29APCh. 2 - Prob. 2.30APCh. 2 - Prob. 2.31APCh. 2 - Prob. 2.32APCh. 2 - Prob. 2.33APCh. 2 - Prob. 2.34APCh. 2 - Prob. 2.35BPCh. 2 - Prob. 2.36BPCh. 2 - Prob. 2.37BPCh. 2 - Prob. 2.38BPCh. 2 - Prob. 2.39BPCh. 2 - Prob. 2.40BPCh. 2 - Prob. 2.41CPCh. 2 - Prob. 2.42PSCh. 2 - Prob. 2.1CTDCCh. 2 - Prob. 2.1CTEICh. 2 - Prob. 2.1CTFCCh. 2 - Prob. 2.1CTCA
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- Explain how the accounting equation organizes financial information using T-accounts and debits and credits.arrow_forwardRead each definition below and write the number of the definition in the blank beside the appropriate term. The quiz solutions appear at the end of the chapter. Event External event Internal event Transaction Source document Account Chart of accounts General ledger Debit Credit Double-entry system Journal Posting Journalizing General journal Trial balance A numerical list of all accounts used by a company. A list of each account and its balance; used to prove equality of debits and credits. A happening of consequence to an entity. An entry on the right side of an account. An event occurring entirely within an entity. A piece of paper that is used as evidence to record a transaction. The act of recording journal entries. An entry on the left side of an account. The process of transferring amounts from a journal to the ledger accounts. An event involving interaction between an entity and its environment. A record used to accumulate amounts for each individual asset, liability, revenue, expense, and component of stockholders equity. A book, a file, a hard drive, or another device containing all of the accounts. A chronological record of transactions. Any event that is recognized in a set of financial statements. The journal used in place of a specialized journal. A system of accounting in which every transaction is recorded with equal debits and credits and the accounting equation is kept in balance.arrow_forwardNOTES PAYABLE ENTRIES Milo Radio Shop had the following notes payable transactions: REQUIRED Record the transactions in a general journal.arrow_forward
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