Exercises Week 2
Melissa Platts
XACC/290
August 9, 2015
Professor Lisa Pendleton

Exercises Week 2
E3-4 A.
Income Statement Nigel Company Income Statement August, 2015
1 $20,000 cash balance ,Common Stock increases 20000.00
2 1000.00 debited in cash and increase 5000.00 in equipment and 4000.00 owed A/P
3 750.00 debited cash increase to supplies
4 4100.00 cash, 5400.00 AR, 9500.00 service revenue
5 1500.00 debited cash, AP debited
6 2000.00 debited cash, 2000.00 debited dividends
7 800.00 debited cash, 800.00 debated rent expense
8 450.00 increase in cash, debt 450.00 AR
9 3000.00 debated cash, 3000.00 salary expense
10 A/P credited 300.00, utility expenses debited 300.00

B. $23,400.00 is how much the stockholders equity increased this month.
C. Net Income for the month $23,100.00
E3-9
StepAside Corporation May 2015
General Journal GENERAL JOURNAL

Date Account Titles and Explanation Debit Credit
5/4/2015 Supplies $ 700.00 cash accounts payable $ 700.00
5/7/2015 Advisory Services $ 6,800.00 Cash Service Revenue $ 6,800.00
5/8/2015 Supplies $ 850.00 Accounts Payable $ 850.00
5/9/2015 Equipment $ 1,000.00 cash $ 1,000.00
5/17/2015 Payroll $ 530.00 cash Salaries Paid $ 530.00
5/22/2015 Repairs $ 900.00 cash accounts payable $ 900.00
5/29/2015 Insurance $ 1,200.00 cash 1 year prepaid insurance $ 1,200.00

Problems 3-5A
A

Towne Architects April 2012
General Journal GENERAL