Stephany Soto

Dr. Ma
TCA 221- 1004
HW 1
Problem 1:

1) i

2) a 3)h

4)f

5)g

Problem 8:
ASSETS
Cash

Guest

Prepaid

Supplies +

Rent

LIABILITIES
Accounts Payable

+ Advertising

Supplies & Advertising

$50,000 +

2-

$2,000
$48,000

$2,000

$500

$48,000
$750
$48,750

$2,000

$500

$48,750 +

$300 +

$2,000

$48,750 +

$300 +

$2,000

$500
$300
$800

net total
3
+
net total
4
net total
5
net total

$48,750
($500)
$48,250 +

(ad bill) $500

$300 +

$2,000 +

$500 =

$800
($500)
$300

net total

Problem 12

$51,050 =

Spring Valley Motel

Balance Sheet
December 31, 20X5
ASSETS
Cash
Accounts Receivable
Inventory
Prepaid Insurance
Building

$250
$300
$50
$50
$5,000

Total Assets

$5,650

LIABILITY & OWNER'S EQUITY

Liabilities
Accounts Payable
Wages Payable
Notes Payable

$200
$150
$2,500

Total liabilities

$2,850

Owner's Equity
Charlie Reps, Capital

$2,800

Total Liabilities & Owner's Equity

$5,650

$51,050

OWNER'S
EQUITY
Dwayne Kent

Capital
$50,000
$50,000

$50,000
$750
$50,750

$50,750

$50,750

$50,750