Financial Accounting Hints

Chapter 2

Exercise 2.11
Total Cash Flows = $7,750

Exercise 2.17
Cash Decrease = 427,622

Chapter 3

Exercise 3.4

Oct. 19 Surgical Supplies 2600.00  
    Acct. Pay   2600.00
  Purchased surgical supplies on account    

Exercise 3.12

May 17 Dividends 5000.00  
    Dividends Payable   5000.00
  Declared cash dividends: payment due on June 25    

 

Exercise 4.1

c. Matching principle

Exercise 4.4

b Advertising Expense 18,000,000  
    Prepaid Adverting   18,000,000
  Record the mailing cost of the brochures that cost $18,000,000 to print    

Exercise 4.7

b. $62,650 ---- (64,000+3500-1200-1100-150-2400)

 

Exercise 5.5

After Closing Trial Balances totals = $123,500

 

Exercise 5.6

Retained Earnings, December 31, 2002 = $140,600