CC5-1. a. Retained earnings (SE) 10,000 Cash (A) 10,000 b. Cash (+A) 2,000 Deferred revenue (+L) 2,000 c. Rent expense (+E, SE) 500 Cash (A) 500 d. Equipment (+A) 14,000 Note payable (+L) 14,000 e. Depreciation expense (+E, SE) 600 Accumulated depreciation (+XA, A) 600 f. Interest expense (+E, SE) 400 Interest payable (+L) 400 Req. 1 Operating Current Gross Profit Income (Loss) Assets Transaction NE NE 10,000 a. NE NE +2,000 b.. NE 500 -500 c. NE NE NE d. NE 600 NE e. NE NE NE f. Req. 2 Return on Net Profit Total Asset Assets Margin Turnover Transaction NE + + a. NE b. + c. NE d. + e. NE f. CC5-2.
CC5-1. a. Retained earnings (SE) 10,000 Cash (A) 10,000 b. Cash (+A) 2,000 Deferred revenue (+L) 2,000 c. Rent expense (+E, SE) 500 Cash (A) 500 d. Equipment (+A) 14,000 Note payable (+L) 14,000 e. Depreciation expense (+E, SE) 600 Accumulated depreciation (+XA, A) 600 f. Interest expense (+E, SE) 400 Interest payable (+L) 400 Req. 1 Transaction Gross Profit Operating Income (Loss) Current Assets a. NE NE 10,000 b.. NE NE +2,000 c. NE 500 -500 d. NE NE NE e. NE 600 NE f. NE NE NE Req. 2 Transaction Net Profit Margin Total Asset Turnover Return on Assets a. NE + + b. NE c. + d. NE e. + f. NE CC5-2.
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