ACC 201 Week 4 Accounting Assignment 1

May 1st, 2015
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ACC 201 Week 4 Accounting Assignment 1ACC201: Principles of Financial Accounting7-19 Assets =Liabilities +Stockholders EquityRev -Exp.Net.IncomeCash FlowCashWarr.Pay.Notes pay.Int. Pay.SalesTaxPay.CommonStockRetained Earnings1.+60000NA+60000NANANANANANANA+60000FA2.+331700NANANA+21700NA+310000+310000NA+310000+310,000 OA3.NA+3100NANANANA-3100NA+3100-3100NA4.-19600NANANA-19600NANANANANA-19600OA5.a.NANANA+1200NANA-1200NA+1200-1200NA5.b.-1200NANA-1200NANANANANANA-1200OA5.c.-60000NA-60000NANANANANANANA-60000FA6. a.+50000NA+50000NANANANANANANA+50000FA6.b.NANANA+500NANA-500NA+500-500NA7.-2400-2400NANANANANANANANA-2400OA8.NANANANANANANANANANANATOTALS+358500+700+50000+500+2100NA305200+310000-4800+305200+336800PART A1. Chandra paid 1200 dollars cash in interest in 20102. 1700 dollars warranty Expense is reported on the income statement3. 2400 is the warranty expense and warranties payable on the balance sheet will equal 700 dollars.Part B Balance SheetAssetsCash:

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