Student Name: Class: McGraw-Hill/Irwin Problem 03-01 HEARTLAND CONSTRUCTION General Journal 20__ Feb.

1 Account Titles Debit Credit

10

16

18

22

23

27

28

HEARTLAND CONSTRUCTION Transaction Analysis

Assets Date Feb. 1 Feb. 10 Amount

= Account

Liabilities + Amount Account

Owners' Equity Amount Account

Feb. 16 Feb. 18 Feb. 22 Feb. 23 Feb. 27 Feb. 28

Given Data P03-01: HEARTLAND CONSTRUCTION Feb. 1 Feb. 10 Cash paid for stock Stock shares issued Office facilities purchased Cost applicable to land Cost applicable to building Cash payment made Note payable issued for balance Computer equipment purchased Cost of office furnishings purchased Cash payment made Office supplies purchased for cash Error discovered in Feb. 16 transaction Paid for printer Should have paid for printer Paid installment due on office furnishings Received refund for printer $ 500,000 25,000 300,000 100,000 200,000 60,000 12,000 9,000 1,000 300 395 359 36

Feb. 16 Feb. 18 Feb. 22 Feb. 23

Feb. 27 Feb. 28

Student Name: Class: McGraw-Hill/Irwin Problem 03-03 WEIDA SURVEYING, INC. Transaction Analysis Income Statement Date Sept. 1 Sept. 3 Sept. 9 Sept. 14 Sept. 25 Sept. 26 Sept. 29 Sept. 30 Revenue - Expenses = Net Income Balance Sheet Assets = Liabilities + Owners' Equity

WEIDA SURVEYING, INC. General Journal Account Titles Sept.1 Rent Expense Cash 3 Accounts Receivable Surveying Revenue 9 Cash Surveying Revenue 14 Advertising Expense Accounts Payable 25 Cash Accounts Receivable 26 Cash Accounts Receivable Surveying Revenue 29 Accounts Payable Cash 30 Dividends Cash Debit Credit

Given Data P03-03: WEIDA SURVEYING, INC. Sept. 1 Sept. 3 Sept. 9 Sept. 14 Sept. 25 Sept. 26 Sept. 29 Sept. 30 Rent paid for September Billed for services Provided services and collected in full Cost of advertisement Received check for services billed Sept. 3 Provided services Received partial payment Paid for advertising placed Sept. 14 Declared and paid cash dividend $ 4,400 5,620 2,830 165 5,620 1,890 400 165 7,600

Student Name: Class: McGraw-Hill/Irwin Problem 03-04 AERIAL VIEWS Transaction Analysis Income Statement Date June 1 June 2 June 4 June 15 June 15 June 18 June 25 June 30 June 30 June 30 June 30 Net Revenue - Expenses = Income Balance Sheet Assets = Liabilities + Owners' Equity

AERIAL VIEWS General Journal Account Titles June 1 2 Debit Credit

4 15 15 18 25 30 30 30 30

Student Name: Class: McGraw-Hill/Irwin Problem 03-04 Note: Part c. Account Ledgers are not included in this spreadsheet AERIAL VIEWS Trial Balance June 30, 2007 Cash Accounts Receivable Aircraft Notes Payable Accounts Payable Dividends Payable Capital Stock Retained Earnings Dividends Aerial Photography Revenue Maintenance Expense Fuel Expense Salaries Expense Rent Expense

AERIAL VIEWS Calculation of Balance Sheet Accounts Assets Cash Accounts Receivable Aircraft Total Assets Liabilities and Stockholders' Equity Liabilities: Notes Payable Accounts Payable Dividends Payable Total Liabilities Stockholders' Equity: Explanation: The above figures are most likely not the amounts to be reported in the balance sheet dated June 30. The accounting cycle includes adjustments that must be made to these figures before financial statements are prepared.

Given Data P03-04: AERIAL VIEWS June 1 June 2 June 4 June 15 June 15 June 18 June 25 June 30 June 30 June 30 June 30 Cash received for stock Number of shares issued Cost of plane Made cash down payment Paid rent for office and hanger space Billed customers for photographs Paid salaries earned by employees Paid for maintenance and repairs Collected for services billed June 15 Billed customers for photographs Paid salaries earned by employees Received fuel bill Declared dividend $ 60,000 60,000 $ 220,000 40,000 2,500 8,320 5,880 1,890 4,910 16,450 6,000 2,510 2,000