More Practice Items like Exer 32

1
More Practice Items like Exer 3-23 Homework

• Repurchased C/s of our own company
• 2. Cash Dividend payable next month
• 3. Stock dividend payable next month
• 4. Accumulated Depreciation
• 5. Depreciation Expense

2
More like Exer 3-23 2

• 6. Finished Goods
• 7. Raw materials
• 8. Purchases
• 9. Deficit

3
More like Exer 3-23 3

• 10. Preferred stock in another company owned by
  us
• 11. Advances to suppliers due in 6 months
• 12. Advance to suppliers due in 3 years
• 13. Short term investments

4
More like Exer 3-23 4

• 14. Discount on Notes Payable due in 6 mons.
• 15. Premium on Bonds Payable due in 3 years
• 16. Cash surrender value of life insurance
• 17. Trading securities
• 18. Goodwill

5
More like Exer 3-23 5

• 19. 3 months advance rent received by landlord
• 20. 3 months advance rent paid by lessee
• 21. Overdraft in cash account
• 22. R/Earnings appropriated for plant expansion

6
More like Exer 3-23 6

• 23. Cr. Balance in A/Receivable
• 24. Petty cash fund
• 25. Cash restricted for plant expansion in 5 yrs
• 26. Budgeted salaries to be paid for work next
  year
• 27. Office supplies used

7
More like Exer 3-23

• Repurchased C/s of our own company
• T/Stock Contra from total of O/Equity section
• 2. Cash Dividend payable next month
• Current liab
• 3. Stock dividend payable next month
• S/Div Distributable Paid in capital
• 4. Accumulated Depreciation
• Contra PPE
• 5. Depreciation Expense
• Not on B/Sheet

8
More like Exer 3-23 2

• 6. Finished Goods
• Inventory C/Asset
• 7. Raw materials
• Inventory .. C/Asset
• 8. Purchases
• on I/stmt not B/s
• 9. Deficit
• The word means Negative balance in R/E

9
More like Exer 3-23 3

• 10. Preferred stock in another company owned by
  us
• Investment
• 11. Advances to suppliers due in 6 months
• Receivable C/Asset
• 12. Advance to suppliers due in 3 years
• Long Term Receivable in Investments
• 13. Short term investments
• Current Assets

10
More like Exer 3-23 4

• 14. Discount on Notes Payable due in 6 mons.
• Contra Current Liability
• 15. Premium on Bonds Payable due in 3 years
• Noncurrent Liab add on to Par of B/Pay
• 16. Cash surrender value of life insurance
• Investment
• 17. Trading securities
• Current Assets
• 18. Goodwill
• Intangible asset

11
More like Exer 3-23 5

• 19. 3 months advance rent received by landlord
• Current Liability
• 20. 3 months advance rent paid by lessee
• Prepaid Current Asset
• 21. Overdraft in cash account
• Is it negative cash or C/Liab NOT Contra CAsset
• 22. R/Earnings appropriated for plant expansion
  Positive or Contra R/Earnings?

12
More like Exer 3-23 6

• 23. Cr. Balance in A/Receivable
• Current Liability Dr bal in A/Pay would be CL
• 24. Petty cash fund
• Current Asset
• 25. Cash restricted for plant expansion in 5 yrs
• Investment
• 26. Budgeted salaries to be paid for work next
  year
• Not recorded until earned
• 27. Office supplies used Not on B/S