Group 8 Jennifer Chan Jesse Lee Nick Rosas

Group 8 Jennifer Chan Jesse Lee Nick Rosas

P 4 -6 Computing Amounts on Financial Statements and Finding Financial Information The following information was provided by the records of Collegetown Apartments (a corporation) at the end of the annual fiscal period, December 31, 2007:

Rent Revenue a. b. Rent revenue collected in cash during 2007 for occupancy in 2007. Rent revenue earned for occupancy in December 2007; not collected until 2008.

Salary Expense e. f. Salaries incurred and paid during 2007. Salaries earned by employees during December 2007 that will be paid in January 2008.

Maintenance supplies expense h. i. j. Maintenance supplies on January 1, 2007 (balance on hand) Maintenance supplies purchased for cash during 2007. Maintenance supplies counted on December 31, 2007.

Rent receivable b. Rent revenue earned for occupancy in December 2007; not collected until 2008.

Receivables from employees g. Cash advances to employees in December 2007 for salaries that will be earned in January 2008.

Maintenance supplies h. i. j. Maintenance supplies on January 1, 2007 (balance on hand) Maintenance supplies purchased for cash during 2007. Maintenance supplies counted on December 31, 2007.

Unearned rent revenue c. In December 2007, collected rent revenue in advance for January 2008.

Salaries payable f. Salaries earned by employees during December 2007 that will be paid in January 2008.

Presented by: Group 8 Jennifer Chan Jesse Lee Nick Rosas