The Template is provided to help you complete your assignment successfully.

There are hints and guidance within the templates. For Example, some fields will have a note attached - as designated by the red triangle in the upper right corner of the cell. Some final cell totals or answers will give you a notice if the answer is correct. For example, if you have gotten the right answer, you may see a note "Correct", or "Good!" appear beneath or to the side of that cell. But, not all exercises or problems will provide feedback. So, be sure you do your best on all of the assignments. And, if you have any questions, please do not hesitate to bring your questions to me. The preferred way to communicate your assignment related questions will be in the Virtual Office. However, please remember that we do not discuss solutions in the Virtual Office. So, do not post partially completed template files, and do not post your solutions. But DO ask as specific a question as possible without giving away an answer. One final note - in almost every template, the cells that allow you to enter something will be background highlighted using = Yellow. In each assignment, you will be able to enter you name in the designated cell here in the "Instructions sheet". Please be sure to input you name in the template, and name the file according to the assignment instructions when you save it. Thank you and I look forward to working with you on your assignments.

Enter you Name here ==

Enter you Name here ======>

Deborah Williams

GB 518 UNIT 02 ASSIGNMENTS Exercise 3-4, Page 136 in the textbook. Your Name Deborah -->: Williams Determine the missing anounts: a b c $ 300.00 $ 1,600.00 $ 1,360.00 $ 2,100.00 $ 5,400.00 $ 10,080.00 $ 750.00 $ 5,700.00 $ 1,840.00 $ 1,650.00 $ 1,300.00 $ 9,600.00

1 2 3 4

Supplies available - prior year end Supplies purchased during the current year Supplies available - current year end Supplies expense fo rhte current year

d $ 1,375.00 $ 6,000.00 $ 800.00 $ 6,575.00

NOTE: Simply replace the "?" mark with the correct $ amount. Exercise 3-4 is worth 4 points.

GB 518 UNIT 02 ASSIGNMENTS Exercise 3-7, Page 137 in the textbook Your Name -->: Deborah Williams

Determine the missing anounts: Case a b c d e

$ $ $ $ $

Net Income 5,390.00 87,644.00 93,385.00 55,234.00 70,158.00

$ $ $ $ $

Net Sales 44,830.00 398,954.00 257,082.00 1,458,999.00 435,925.00

Profit Margin 12% 22% 36% 4% 16%

Analysis and Interpretation: Out of the 5 companies, company c is the most profitable according to the profit margin of 36%. I figured this number out by taking the Net Income of $93,385 and divided it by the Net Sales of $257,082. Once divided, the result is 36%.

Exercise 3-7 is worth 6 points.

Given Data P03-04A: JJW COMPANY Worksheet Unadjusted Trial Balance Debit Credit 27,000 12,000 18,000 7,320 92,000 $ 12,000 9,300 16,000 44,000 5,000 23,420 10,000 156,000 71,000 1,400 13,200 13,800 265,720 $ 265,720 Adjusted Trial Balance Debit Credit 27,000 22,460 3,000 4,880 92,000 $ 18,000 10,200 800 6,600 14,300 44,000 5,000 23,420 10,000 168,160 6,000 77,600 2,200 2,440 13,200 15,000 14,700 290,480 $ 290,480

Account Cash Accounts receivable Office supplies Prepaid insurance Office equipment Accumulated depreciation, Office equipment Accounts payable Interest payable Salaries payable Unearned consulting fees Long-term notes payable Common stock Retained earnings Dividends Consulting fees earned Depreciation expense, Office equipment Salaries expense Interest expense Insurance expense Rent expense Office supplies expense Advertising expense Totals Additional information: Retained earnings, July 31, 2011 Current-year dividends Check figures: (2) Net income Total assets

Adjustments Debit Credit $

$ $

23,420 10,000

$ $

37,020 131,340

Student Name: Deborah Williams Class: GB 518 UNIT 02 ASSIGNMENTS Problem 03-04A JJW COMPANY Worksheet Unadjusted Trial Balance Debit Credit (Ltr) $ 27,000 12,000 (a) 18,000 7,320 92,000 $ 12,000 9,300 16,000 (h) 44,000 5,000 23,420 10,000 156,000 71,000 1,400 13,200 13,800 $265,720 (d) (g) (f) (c) (b) (e) $265,720 Adjusted Trial Balance Debit $ 27,000 22,460 3,000 4,880 92,000

Account Cash Accounts receivable Office supplies Prepaid insurance Office equipment Accumulated depreciation, Office equipment Accounts payable Interest payable Salaries payable Unearned consulting fees Long-term notes payable Common stock Retained earnings Dividends Consulting fees earned Depreciation expense, Office equipment Salaries expense Interest expense Insurance expense Rent expense Office supplies expense Advertising expense Totals

Adjustments Debit (Ltr) Credit 10,460 (b) (c) (d) (e) (f) (g) 1,700 15,000 2,440 6,000 900 800 6,600

10,000 (a) (h) 6,000 6,600 800 2,440 15,000 900 $43,900
Correct!

10,460 1,700 6,000 77,600 2,200 2,440 13,200 15,000 14,700 $290,480

$43,900
Correct!

(a) (b) (c) (d) (e) (f) (g) (h)

Adjustment description: Earned but uncollected revenues. Cost of consumed office supplies. Cost of expired insurance coverage. Depreciation expense on office equipment. Incurred but unpaid advertising expense. Incurred but unpaid interest expense. Incurred but unpaid salaries expense. Earned revenues previously received in advance.

Student Name: Deborah Williams Class: GB 518 UNIT 02 ASSIGNMENTS Problem 03-04A JJW COMPANY Income Statement For the Year Ended July 31, 2011 Revenues: Consulting fees earned Expenses: Depreciation expense-Office equipment Salaries expense Interest expense Insurance expense Rent expense Office supplies expense Advertising expense Total expenses Net income

168,160

6,000 77,600 2,200 2,440 13,200 15,000 14,700 131,140 $37,020

Correct!

JJW COMPANY Statement of Retained Earnings For the Year Ended July 31, 2011 Retained earnings, July 31, 2010 Plus: Net income Less: Owner withdrawals Retained earnings, July 31, 2011 23,420 37,020 $60,440 10,000 $50,440
Correct!

Student Name: Deborah Williams Class: GB 518 UNIT 02 ASSIGNMENTS Problem 03-04A JJW COMPANY Balance Sheet July 31, 2009 Assets Cash Accounts receivable Office supplies Prepaid insurance Office equipment Accumulated depreciation-Office equipment Total assets Liabilities Accounts payable Interest payable Salaries payable Unearned consulting fees Long-term notes payable Total liabilities Equity Common stock Retained earnings Total equity Total liabilities and equity 5,000 50,440 55,440 $131,340
Correct!

$27,000 22,460 3,000 4,880 $92,000 18,000 110,000 $167,340

$10,200 800 6,600 14,300 44,000 75,900

JJW COMPANY Worksheet Adjusted Trial Balance Credit

18,000 10,200 800 6,600 14,300 44,000 5,000 23,420 168,160

$290,480