arch angry, animal, animal (Alternates are 3-37. 3-39 , and 3-41 through 3-44.)
ID: 2609034 • Letter: A
Question
arch angry, animal, animal (Alternates are 3-37. 3-39 , and 3-41 through 3-44.) Robert Kapela owned and managed a franchise of Ithaca Espresso, Incorporated. The company's balance sheet accounts had the following balances on September 1, 20X0, the beginning of a fiscal year: Ithaca Espresso Balance Sheet Accounts, September 1, 20xO Cash $13,000 Accounts receivable 5,200 77,800 Merchandise inventory Prepaid rent Store equipment Accumulated depreciation, store equipment Accounts payable Paid-in capital 4,000 21,000 $ 6,150 40,000 30,000Explanation / Answer
2) Journal Entries :
1) T-Accounts:
4) Income Statement :
250
4) Balance Sheet :
b
Date Accounts Titles Debit $ Credit $ a M. Inventory 41000 AP 41000 b Cash 74250 Sales 74250 c AP 29000 Cash 29000 d AR 3000 Sales 3000 e Advertisement exp 3000 Cash 3000 f COGS 45000 M Inventory 45000 g Cash 6000 AR 6000 h Miscl. expense 8000 Cash 8000 i Wages expense 9000 Cash 9000 j Rent exp. 2000 Prepaid rent 2000 k Depreciation 250 Acc. Dep. - Store Equipment 250Related Questions
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