(e) 4,000 Law Library Common Stock Salaries Expense (a) 6,000 (a) 21,000 (h) 2,500 Law Firm, Inc. Trial Balance November 30 Trial Credit Account Cash 11,000 ………………………………………….....…$ Accounts Receivable ………………………….....….1,500 Law Library ………………………….....……………6,000 Office Equipment ………………………….....……...7,500 Accounts Payable 4,000 ………………………….....……... Common Stock 21,000 ………....... Dividends 2,000 …………… Legal Fees Earned 5,500 ………………………….....…….. Salaries Expense ………………………….....…..…..2,500 Totals $ 30,500 $ 30,500 ………………………….....……... Apply AACSB: Analytic AICPA BB: Industry AICPA FN: Measurement Difficulty: 3 Hard Learning Objective: 02-A1 Learning Objective: 02-P1 Learning Objective: 02-P2 Topic: Analyzing Transactions Journalizing and Posting Transactions Topic: Preparing a Balance 193. Butcher Shop, Inc. had the following assets and liabilities at the beginning and end of the current year: Assets Liabilities Beginning of the year $114,000 $68,000 End of the year 135,000 73,000
(e) 4,000 Law Library Common Stock Salaries Expense (a) 6,000 (a) 21,000 (h) 2,500 Law Firm, Inc. Trial Balance November 30 Account Credit Cash ………………………………………….....…$ 11,000 Accounts Receivable ………………………….....….1,500 Law Library ………………………….....……………6,000 Office Equipment ………………………….....……...7,500 Accounts Payable ………………………….....……... 4,000 Common Stock ………....... 21,000 Dividends …………… 2,000 Legal Fees Earned ………………………….....…….. 5,500 Salaries Expense ………………………….....…..…..2,500 Totals ………………………….....……... $ 30,500 $ 30,500 Apply AACSB: Analytic AICPA BB: Industry AICPA FN: Measurement Difficulty: 3 Hard Learning Objective: 02-A1 Learning Objective: 02-P1 Learning Objective: 02-P2 Topic: Analyzing Transactions Journalizing and Posting Transactions Topic: Preparing a Balance 193. Butcher Shop, Inc. had the following assets and liabilities at the beginning and end of the current year: Assets Liabilities Beginning of the year $114,000 $68,000 End of the year 135,000 73,000 Trial
Test-Bank-for-Financial-Accounting-Fundamentals-5th-Edition-by-Wild.docx