Read Campus Cycle Solution 2004.qrk text version Campus Cycle Solution 2004.qrk 3/16/04 11:39 AM Page 1 SOLUTIONS TO CAMPUS CYCLE SHOP A BUSINESS PAPERS PRACTICE SET FOR USE WITH ACCOUNTING PRINCIPLES 7th Edition ERRY EYGANDT Ph.D., C.P.A. Arthur Anderson Alumni Professor of Accounting University of Wisconsin - Madison Madison, Wisconsin J J. KIESO Ph.D., C.P.A. KPMG Peat Marwick Emeritus Professor of Accountancy Northern Illinois University DeKalb, Illinois AUL IMMEL Ph.D., C.P.A. Associate Professor of Accounting University of Wisconsin - Milwaukee Milwaukee, Wisconsin P D.

Dec 05, 2009 I have to work on my Campus Cycle Shop practice set for my accounting class. Does anyone know how to do the Campus Cycle Shop.

K JOHN WILEY & SONS, INC. New York Chichester Weinheim Brisbane Singapore Toronto Campus Cycle Solution 2004.qrk 3/16/04 11:39 AM Page 2 COVER PHOTO © James Bareham/Stone To order books or for customer service call 1-800-CALL-WILEY (225-5945) Copyright © 2004 by john Wiley & Sons, inc. Excerpts from this work may be reproduced by instructors for distribution on a not-for-profit basis for testing or instructional purposes only to students enrolled in courses for which the text book has been adopted. Any other reproduction or translation of this work beyond that permitted by sections 107 or 108 of the 1976 United States Copyright Act with out the Permission of the copyright owner is unlawful. Requests for permission or further information should be addressed to the Permissions Department, John Wiley & Sons, Inc., 605 Third Avenue, New York, NY ISBN 0-471-39154-9 Printed in the United States of America 10 9 8 7 6 5 4 3 2 1 Printed and bound by Odyssey Press, Inc Campus Cycle Solution 2004.qrk 3/16/04 11:39 AM Page 3 TABLE OF CONTENTS Sales Journal............................................................ 1 Purchases Journal........................................................

1 Cash Receipts Journal..................................................... 2 Cash Payments Journal.................................................... 4 General Journal.......................................................... 6 General Ledgers......................................................... 9 Accounts Receivable Subsidiary Ledger..................................... 16 Accounts Payable Subsidiary Ledger.......................................

18 Continuous Checkbook Balance........................................... 20 Original Deposit Tickets for September..................................... 20 Bank Reconciliation...................................................... 21 Work Sheet.............................................................

22 Accounts Receivable Schedule............................................. 24 Accounts Payable Schedule............................................... 24 Income Statement....................................................... 25 Owner's Equity Statement................................................ 26 Balance Sheet...........................................................

27 Post-Closing Trial Balance................................................ 28 Campus Cycle Solution 2004.qrk 3/16/04 11:39 AM Page 4 Campus Cycle Solution 2004.qrk 3/16/04 11:39 AM Page 1 SALES JOURNAL S5 Cost of Goods Sold Dr. Merchandise Inventory Cr. 1 7 5 0 1 6 1 0 1 6 8 0 1 2 6 0 3 0 1 0 1 9 6 0 3 6 7 5 8 4 0 1 5 2 6 1 1 9 0 1 8 5 0 1 (505)(120) 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 PURCHASES JOURNAL P8 Merchandise Inventory Dr. Accounts Payable Cr. 4 5 0 2 2 6 0 3 2 0 0 3 8 0 0 3 5 0 0 6 5 6 0 8 2 5 9 5 0 1 4 0 0 2 0 0 0 7 4 0 2 5 6 8 5 1 2 3 4 5 6 7 8 9 10 11 12 14 15 16 17 18 19 20 1 20xx Date 1 Sept 2 3 4 5 6 7 8 9 10 11 12 13 14 15 1 8 15 18 18 24 24 25 28 28 Account Debited Billy's Bike and Skate Rental State University Cycling Club Normal Park District Twin Cities Bicycle Tours Evergreen Parks and Recreation Twin Cities Bicycle Tours Normal Park District Evergreen Parks and Recreation State University Cycling Club Billy's Bike and Skate Rental Inv. My Invoices Estimates Deluxe 9 Crack. 524 525 526 527 528 529 530 531 532 533 Ref.

2 5 0 0 2 3 0 0 2 4 0 0 1 8 0 0 4 3 0 0 2 8 0 0 5 2 5 0 1 2 0 0 2 1 8 0 1 7 0 0 2 6 4 3 0 (112)(401) 20xx Date 1 Sept 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 4 8 9 Account Credited Terry Cycling Apparel Gita Bicycle & Frames Tandems USA Invoice # 230 993 1108 1417 837 1023 898 1132 1511 910 309 Terms 2/10, n/30 n/30 1/15, n/30 2/10, n/30 2/10, n/30 n/30 2/10, n/30 1/15, n/30 2/10, n/30 2/10, n/30 2/10, n/30 Ref. 17 Tuffy Bicycle Company 18 Bicycle Transit Authority 22 Gita Bicycle & Frames 23 Bicycle Transit Authority 24 Tandems USA 24 Tuffy Bicycle Company 28 Avanti Racers, Inc. 28 Terry Cycling Apparel (120) / (201) 13 Copyright © 2004 by John Wiley & Sons, Inc.

Part A (30 points)Record the following transactions in the basic accounting equation:a. Brian invests $10,000 cash to begin an accounting service.b.

The company buys office furniture for cash, $600.c. The company buys additional office furniture on account, $300.d. The company makes a payment on the office furniture, $200.Brian's Accounting ServiceASSETS = LIABILITIES + OWNER'S EQUITYCash + Office Furniture = Accounts Payable + Brian's Capital Solution Assets=Liability+Capital Cash + Office furniture=Account payable + Brian's Capital $10,000=$10,000 $600$600=$600 $300=$300 $200=$200 Part B (40 points)The following is a list of accounts and their balances for Benson Company for the month ended June 30, 20xx. Prepare a trial balance in good form.Cash $1,370 Benson, Withdrawals $ 500Accounts Payable 770 Accounts Receivable 1,600Office Equipment 900 Service Fees 2,730Benson, Capital 1,500 Salaries Expense 630 Solution Benson Company Trial Balance As at June 20, 20(customers date) Particulars=Debit+Credit Cash=$1,370 Account Payable=$770 Office Equipment=$900 Benson, Capital=$1,500 Benson, Withdrawals=$500 Account Receivable=$1,600 Service Fee=$2,750 Salaries Expense=$630. Voxengo Redunoise 1 6 Keygen Mac.