E1-1 Genesis Company performs the following accounting tasks during the year.

C Analyzing and interpreting information.

R Classifying economic events.
C Explaining uses, meaning, and limitations of data.
R Keeping a systematic chronological diary of events.
R Measuring events in dollars and cents.
C Preparing accounting reports.
C Reporting information in a standard format.
I Selecting economic activities relevant to the company.
R Summarizing economic events.
E1-13 Abby Roland is the bookkeeper for Cheng Company. Abby has been trying to deter- mine the correct balance sheet for Cheng Company. Cheng’s bal
CHENG COMPANY
Balance sheet
December 31, 2017

Assets
Cash $ 15,000.00
Account receivable 6,500
Supplies 8,000
Equipment 46,000
Total assets $ 75,500.00
Liabilities and Owner's equity
Liabilities
Account payable $ 21,000.00
Owner's equity
Owner's capital 67,500
Owner's drawings 13,000
Total liabilites and owner's equity $ 75,500.00

E2-9 Selected transactions from the journal of June Feldman, investment broker, are presented below.
(a) Post the transactions to T-accounts.
Cash Service Revenue Owner's Capital
Debit Credit Debit Credit Debit
1 5,000
10 2,600 2,600
12 2,300
25 1,700
31 900
(b) Prepare a trial balance at August 31, 2017.
JUNE FELDMAN
Trial Balance
August 31,2017
 Debit
Cash 900
Account Receivable
$ 900.00
E2-5 Transaction data for Sanculi Real Estate Agency are presented in E2-4.
Date Account titles and explanation Ref Debit Credit
Oct.
1 Cash $ 15,000.00
Owner's capital $ 15,000.00
2 No entry
3 Equipment 1,900
Account Payable 1,900
6 Cash 3,800
Service Revenue 3800
27 Account payable 1100
Cash 1100
30 Salary expense 2500
Cash 2500
heet for Cheng Company. Cheng’s balance sheet is shown below.

95

Owner's Capital Equipment Notes payable Account Receivable

Credit Debit Credit Debit Credit Debit Credit
5,000

5,000 2,700
1,700
900
Credit

900
$ 900.00