Exercise 1 Accounting Principles

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Week 2

Week 2:
E1-3 [part(a) only], E1-4, E2-6 and P2-2A
Total Points: 100
E1-3 part(a) only: [10pts]		part (a)	P2-2A: [45 pts]
	Accounts payable			Xenox Corporation
	Accounts receivable			Income Statement
	Equipment			For the Year Ended December 31, 2012
	Sales revenue
	Service revenue			Revenues
	Inventory				Service revenue
	Mortgage payable			Expenses
	Supplies expense				Salaries and wages expense
	Rent expense				Depreciation expense
	Salaries and wages expense				Insurance expense
					Utilities expense
					Maintenance and repairs expense
E1-4: [20 pts]					Total expenses
ALEXIS CO.
Income Statement				Net income
For the Year Ended December 31, 2012
Revenues				Xenox Corporation
	Service revenue			Retained Earnings Statement
Expenses				For the Year Ended December 31, 2012
	Salaries and wages expense
	Rent Expense			Retained earnings, January 1
	Utilities expense			Add: Net income
	Advertising expense
	Total expenses			Less: Dividends
				Retained earnings, December 31
Net income
				Xenox Corporation
ALEXIS CO.				Balance Sheet
Retained Earnings Statement				December 31, 2012
For the Year Ended December 31, 2012
				Assets
Retained earnings, January 1				Current assets
Add: Net income					Cash
					Accounts recievable
Less: Dividends					Prepaid insurance
Retained earnings, December 31					Total current assets
				Equipment
				Less: Accumulated depreciation - equipment
				Total assets
E2-6: [25 pts]
TEXAS INSTRUMENTS, INC.				Liabilites and Stockholders' Equity
Balance Sheet				Liabilities
December 31, 2009					Accounts payable
					Salaries and wages payable
Assets					Total liabilities
Current assets				Stockholders equity
	Cash and cash equivalents				Common stock
	Short-term investments				Retained earnings
	Accounts receivable				Total stockholders' equity
	Inventories			Total liabilties and stockholders' equity
	Prepaid expenses
	Other current assets
	Total current assets
Long-term investments
Property, plant, and equipment
	Property, plant, and equipment
	Less: Accumulated depreciation
Other noncurrent assets
Total assets
Liabilites and Stockholders' Equity
Current liabilities
	Accounts payable
	Income taxes payable
	Other current liabilities
	Total current liabilities
Long-term liabilities
	Noncurrent liabilities
Total liabilities
Stockholders' equity
	Common stock
	Retained earnings
	Total stockholders' equity
Total liabilities and stockholders' equity