NAME PROBLEM 3–1

SECTION DATE HEARTLAND CONSTRUCTION

a.
General Journal

20__
Feb. 1

10

16

18

22

23

27

28

© The McGraw-Hill Companies, Inc., 2002 21

 PROBLEM 3–1
HEARTLAND CONSTRUCTION (concluded)
b.

Transaction Assets = Liabilities + Owners’ Equity

Feb. 1

Feb. 10

Feb. 16

Feb. 18

Feb. 22

Feb. 23

Feb. 27

Feb. 28

NAME PROBLEM 3–2

SECTION DATE ENVIRONMENTAL SERVICES, INC.

22 © The McGraw-Hill Companies, Inc., 2002

a.

PROBLEM 3–2
ENVIRONMENTAL SERVICES, INC. (continued)

© The McGraw-Hill Companies, Inc., 2002 23

 b.
General Journal

20__ (1)
Aug. 1

(2)
3

(3)
5

(4)
17

(5)
22

(6)
29

(7)
30

PROBLEM 3–2
ENVIRONMENTAL SERVICES, INC. (concluded)

24 © The McGraw-Hill Companies, Inc., 2002

c.

d.

© The McGraw-Hill Companies, Inc., 2002 25

NAME PROBLEM 3–3
SECTION DATE WEIDA SURVEYING, INC.
a.
Income Statement Balance Sheet
Net Owners’
Transaction Revenue  Expenses = Income Assets = Liabilities + Equity
Sept. 1
Sept. 3
Sept. 9
Sept. 14
Sept. 25
Sept. 26
Sept. 29
Sept. 30

PROBLEM 3–3
WEIDA SURVEYING, INC. (concluded)

26 © The McGraw-Hill Companies, Inc., 2002

b.
General Journal

Sept. 1

14

25

26

29

30

c.

NAME PROBLEM 3–4

SECTION DATE AERIAL VIEWS
a.
Income Statement Balance Sheet
Net Owners’
Transaction Revenue  Expenses = Income Assets = Liabilities + Equity

© The McGraw-Hill Companies, Inc., 2002 27

 June 1
June 2
June 4
June 15
June 15
June 18
June 25
June 30
June 30
June 30
June 30

PROBLEM 3–4
AERIAL VIEWS (continued)

28 © The McGraw-Hill Companies, Inc., 2002

 b.
General Journal

2002
June 1

15

15

18

25

30

30

30

30

NAME PROBLEM 3–4

SECTION DATE AERIAL VIEWS (continued)

© The McGraw-Hill Companies, Inc., 2002 29

c. Cash
Date Explanation Debit Credit Balance
2002
June 1
2
4
15
18
25
30

Accounts Receivable
Date Explanation Debit Credit Balance
2002
June 15
25
30

Aircraft
Date Explanation Debit Credit Balance
2002
June 2

Notes Payable
Date Explanation Debit Credit Balance
2002
June 2

Accounts Payable
Date Explanation Debit Credit Balance
2002
June 30

PROBLEM 3–4
AERIAL VIEWS (continued)

30 © The McGraw-Hill Companies, Inc., 2002

 Dividends Payable
Date Explanation Debit Credit Balance
2002
June 30

Capital Stock
Date Explanation Debit Credit Balance
2002
June 1

Dividends
Date Explanation Debit Credit Balance
2002
June 30

Aerial Photography Revenue

Date Explanation Debit Credit Balance
2002
June 15
30

Maintenance Expense
Date Explanation Debit Credit Balance
2002
June 18

NAME PROBLEM 3–4

SECTION DATE AERIAL VIEWS (continued)

© The McGraw-Hill Companies, Inc., 2002 31

 Fuel Expense
Date Explanation Debit Credit Balance
2002
June 30

Salaries Expense
Date Explanation Debit Credit Balance
2002
June 15
30

Rent Expense
Date Explanation Debit Credit Balance
2002
June 4

PROBLEM 3–4
AERIAL VIEWS (continued)
d. AERIAL VIEWS
Trial Balance
June 30, 2002

32 © The McGraw-Hill Companies, Inc., 2002

NAME PROBLEM 3–4
SECTION DATE AERIAL VIEWS (concluded)

Total assets:

Total liabilities:

Total stockholders’ equity:

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 the trial balance figures before
financial statements are prepared. The adjusting process is
covered in Chapter 4.

© The McGraw-Hill Companies, Inc., 2002 33

NAME PROBLEM 3–5
SECTION DATE DR. SCHEKTER, DVM
a.
Income Statement Balance Sheet
Net Owners’
Transaction Revenue  Expenses = Income Assets = Liabilities + Equity
May 1
May 4
May 9
May 16
May 21
May 24
May 27
May 28
May 31

PROBLEM 3–5
DR. SCHEKTER, DVM (continued)

34 © The McGraw-Hill Companies, Inc., 2002

 b.
General Journal

2002
May 1

16

21

24

27

28

31

NAME PROBLEM 3–5

SECTION DATE DR. SCHEKTER, DVM (continued)
c.
Cash Notes Payable

© The McGraw-Hill Companies, Inc., 2002 35

 Accounts Receivable Accounts Payable

Office Supplies Capital Stock

Medical Instruments Veterinary Service Revenue

Office Fixtures & Equipment Advertising Expense

Land Salary Expense

Building

PROBLEM 3–5
DR. SCHEKTER, DVM (continued)

36 © The McGraw-Hill Companies, Inc., 2002

d. DR. SCHEKTER, DVM
Trial Balance
May 31, 2002

NAME PROBLEM 3–5

SECTION DATE DR. SCHEKTER, DMV (concluded)

© The McGraw-Hill Companies, Inc., 2002 37

e.

Total assets:

Total liabilities:

Total owners' (stockholders’) equity:

38 © The McGraw-Hill Companies, Inc., 2002

© The McGraw-Hill Companies, Inc., 2002 39