Hi all,

Homework for my Accounting class, (two problems ) help lease (:

1) Problem 5-4, this assignment must bein MS Word or MS Excel.

2) Problem 6-3, this assignment must be in MS Word or MS Excel.

Please see attached 3 pictures of the problems. the first 2 pictures are for problem 5-4

Scanned by CamScanner Scanned by CamScanner Scanned by CamScanner Scanned by CamScanner Scanned by CamScanner Scanned by CamScanner Scanned by CamScanner Scanned by CamScanner Scanned by CamScanner \fRUSK COMPANY JOURNAL ENTRIES FOR THE MONTH OF JUNE 2012 Date 1st June 2012 Account Title and Description Cash Capital stock To record issued capital stock in cash Debit $ 100,800 1st June 2012 Merchandise inventory Capital stock To record issued capital stock as inventory $ 336,000 1st June 2012 Land Capital stock To record issued capital stock as land $ 288,000 4th June 2012 Merchandise inventory Cash To record inventory purchased in cash $ 432,000 9th June 2012 Delivery fee Cash To record delivery fees paid $ 10,080 13th June 2012 Accounts receivable Merchandise inventory To record credit sales $ 288,000 15th June 2012 Accounts receivable Merchandise inventory To record credit sales $ 230,400 16th June 2012 Merchandise inventory Accounts receivable To record returned goods sold on credit $ 31,680 20th June 2012 Salaries Cash To record salaries paid $ 115,200 22nd June 2012 Cash Accounts receivable To record cash received from a debtor $ 251,193 24th June 2012 Merchandise inventory $ 354,600 Accounts payable To record credit purchases 26th June 2012 Accounts payable Merchandise inventory To record returned goods bought on credit $ 57,600 27th June 2012 Delivery fees Cash To record delivery fees paid $ 7,200 29th June 2012 Accounts receivable Merchandise inventory To record credit sales $ 348,000 30th June 2012 Cash Merchandise inventory To record cash sales $ 172,800 30th June 2012 Cash Accounts receivable To record cash received from debtors $ 230,400 30th June 2012 Rent expense Cash To record cash paid $ 43,200 30th June 2012 Accounts payable Cash To record payment of credit purchases $ 288,000 Credit $ 100,800 $ 336,000 $ 288,000 $ 432,000 $ 10,080 $ 288,000 $ 230,400 $ 31,680 $ 115,200 $ 251,193 $ 354,600 $ 57,600 $ 7,200 $ 348,000 $ 172,800 $ 230,400 $ 43,200 $ 288,000 Dr Capital stock Accounts receivable Inventory Discount received CASH $ 1,008,000 $ 251,194 $ 172,800 $ 5,760 Cr $ $ $ $ 432,000 10,080 115,200 5,126 Accounts receivable $ $ $ $ $ 7,200 43,200 282,240 773,107 1,668,154 $ 1,668,154 INVENTORY $ 336,000 $ 432,000 $ 31,600 $ 345,600 Cr $ $ $ $ $ $ 288,000 230,400 57,600 384,000 172,800 12,400 $ 1,145,200 Cr $ $ $ 31,680 251,194 230,400 $ 389,126 $ 902,400 Cr $ 345,600 $ (5,760) 339,840 $ 339,840 RENT EXPENSE $ 43,200 Cr $ Dr Capital stock Cash Accounts receivable Accounts payable $ Dr Inventory Inventory Inventory Merchandise inventory Delivery expense Salaries Discount given 230,400 Delivery expense Rent expense Accounts payable Balance Accounts receivable Accounts receivable Accounts payable Accounts receivable Cash Balance 1,145,200 ACCOUNTS RECEIVABLE $ 288,000 Inventory $ 230,400 Cash $ 384,000 Cash Balance $ Dr Inventory Cash ACCOUNTS PAYABLE $ 57,600 Inventory $ 282,240 $ Dr Cash 902,400 Dr Balance CAPITAL STOCK $ Cash Inventory 1,632,000 Land Cr $ 1,008,000 $ 336,000 $ 288,000 $ 1,632,000 $ Dr Capital stock LAND $ 288,000 Cr Dr Cash Cash DELIVERY EXPENSE $ 10,080 $ 7,200 Cr $ 17,280 $ Dr Cash SALARIES $ 115,200 Cr Dr Cash DISCOUNT $ 5,126 Cash Cr $ Balance $ 634 1,632,000 17,280 5,760 $ 5,760 $ 5,760 RUSK COMPANY TRIAL BALANCE FOR THE MONTH OF JUNE 2012 ACCOUNTS TITLE 1 Cash 2 Capital Stock 3 Inventory 4 Land 5 Accounts receivables 6 Accounts payable 7 Delivery expense 8 Salary expense 9 Rent expense DEBIT CREDIT $ 773,107 $ 1,632,000 $ 12,400 $ 288,000 $ 389,126 $ (5,760) $ 17,280 $ 115,200 $ 43,200 10 Discount $ $ 634 1,632,554 $ 1,632,634 RUSK COMPANY CLASSIFIED INCOME STATEMENT FOR THE MONTH OF JUNE 2012 Sales Less: 773,107 $ $ (659,600) 113,507 $ 175,680 $ (62,173) Cost of sales Openning stock $ Add: Purchases $ $ 12,400 12,400 Less: Closing stock $ 672,000 $ (659,600) Gross profit Expenses Delivery expense Salary expense $ $ 17,280 115,200 Rent expense $ 43,200 $ 175,680 Net loss $ - PROBLEM 5-4 1 Conservatisim 2 Conservatisim 3 Earning principle of revenue recognation 4 Period cost ( or principle of immediate recognation of expence 5 Realization principle 6 Matching principle 7 Exchange price cost principle 8 Business entity