Mary Ann Mendez - Lecture notes 3,4,5 PDF

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ASSIGNMENT: THE ACCOUNTING EQUATION

NAME: Mary Ann F. Mendez

INSTRUCTION: Please answer all the problems that will be found in your textbook. Put your answers on the answer sheet provided below. If there are problems that are computational in nature, please show your solutions. Thank you.

PROBLEM 1: TRUE OR FALSE 1. TRUE 2. FALSE 3. FALSE 4. FALSE 5. FALSE 6. TRUE 7. TRUE 8. FALSE 9. FALSE 10. TRUE PROBLEM 2: TRUE OR FALSE 1. TRUE 2. TRUE 3. FALSE 4. TRUE 5. FALSE 6. TRUE

7. TRUE

8. TRUE 9. FALSE 10. FALSE PROBLEM 3: TRUE OR FALSE 1. TRUE E=A- L E = 10 – 6 E=4

2. FALSE E=A- L E = 20-16 E=4

3. TRUE L=A–E L = 80 – 60 L = 20

4. FALSE A= L+ E A = 60 + 30 A = 90

5. TRUE P/L = I – E

P/L = 100 – 40 P = 60

6. TRUE P/L = I – E P/L = 50 - 60 L = (10)

7. TRUE Ending equity = Beg. Equity + profit Ending equity = 100 + 20 Ending equity = 120

8. TRUE Ending equity = Beg. Equity – loss Ending equity = 10 – 4 Ending equity = 6

9. TRUE A= L+ E+ R –E 100 = 40 + 40 + 20 100 = 100

10. FALSE A= L+ E+ R –E 100 = 60 + 30 + 50 – 30

100 ≠ 110

PROBLEM 4: FOR CLASSROOM DISCUSSION 1. d 2. d 3. a 4. d 5. d 6. d 7. b 8. a 9. c 10. b

PROBLEM 5: COMPUTATIONS- BASIC EQUATION 1. 460,000 – 190,000 = 270,000 2. 230,000 – 70,000 = 160,000 3. 990,000 + 130,000 = 1,120,000 4. 1,020,000 – 410,000 = 610,000 5. 820,000 – 580,000 = 240,000

PROBLEM 6: COMPUTATIONS- EXPANDED EQUATION 1. 780,000 – 290,000 = 490,000 2. 990,000 – 270,000 = 720,000 3. 890,000 + 170,000 = 1,060,000

4. 1,420,000 – 360,000 = 1,060,000 5. 1,920,000 – 890,000 = 1,030,000

PROBLEM 7: COMPUTATIONS- EXPANDED EQUATION

1. 380,000 + 130,000 + 210,000 =720,000 720,000 – 590,000 = 130,000 2. 280,000 + 40,000 – 180,000 = 140,000 490,000 – 140,000 = 350,000 3. 220,000 + 360,000 – 80,000 = 500,000 860,000 – 500,000 = 360,000 4. 90,000 + 180,000 – 70,000 = 200,000 360,000 – 200,000 = 160,000 5. 410,000 + 170,000 + 480,000 – 190,000 = 870,000 PROBLEM 8: COMPUTATIONS- EXPANDED EQUATION 1. 710,000 + 290,000 + 440,000 = 1,440,000

1,440,000 – 920,000 = 520,000 2. 310,000 + 240,000 – 150,000 = 400,000 870,000 – 400,000 = 470,000 3. 240,000 + 600,000 – 190,000 = 650,000 890,000 – 650,000 = 240,000 4. 170,000 + 1,900,000 – 1,860,000 =210,000 740,000 – 210,000 = 530,000 5. 780,000 + 470,000 + 680,000 – 490,000 = 1,440,000

PROBLEM 9: COMPUTATIONS- ACCOUNTING EQUATION 1.

ASSET

= 100 20

2.

LIABILITY 0 0

+

EQUITY 100 20

ASSET

= 100 20 500

3. ASSET

= 100 20 500 2000

4. ASSET

= 100 20 500 2000 (800)

5. ASSET

TOTAL:

= 100 20 500 2000 (800) 1820

ASSET = LIABILITY + EQUITY 1820 = 500 + 1320 1820 = 1820

PROBLEM 10: MULTIPLE CHOICE 1. A 2. C 3. D

LIABILITY 0 0 500

+

LIABILITY 0 0 500 0

+

LIABILITY 0 0 500 0 0

+

LIABILITY 0 0 500 0 0 500

+

EQUITY 100 20 0

EQUITY 100 20 0 2000

EQUITY 100 20 0 2000 (800)

EQUITY 100 20 0 2000 (800) 1320

4. B 5. D 6. C 7. B 8. C 9. D 10. B

PROBLEM 11: MULTIPLE CHOICE 1. D 2. D 3. B 4. A 5. B 6. B 7. C 8. C 9. D 10. A

PROBLEM 12: MULTIPLE CHOICE 1. A 2. B 3. A 4. A 5. C 6. A 7. B 8. C 9. B 10. A

PROBLEM 13: MULTIPLE CHOICE 1. B 2. A 3. D 4. D 5. A 6. A 7. B 8. C 9.C 10.A

PROBLEM 14: MULTIPLE CHOICE 1. A 2. A 3. C 4. A 5. C 6. B 7. A 8. D 9. C 10.C...