Account# 111 - Cash
Date
Description
Debits
Credits
Balance
Beginning Balance
$0.00 CR
9/01/2015
CR 1...
Account# 111 - Cash
Date
Description
Debits
Credits
Balance
Beginning Balance
$0.00 CR
9/01/2015
CR 1 owner's investment
$21,000.00
$21,000.00 DR
9/02/2015
Race Car Purchase
$13,500.00
$7,500.00 DR
9/03/2015
Track Rent
$4,185.00
$3,315.00 DR
9/04/2015
Newpaper Advertising
$251.19
$3,063.81 DR
9/06/2015
Cash Collected
$1,200.00
$4,263.81 DR
9/07/2015
Payment on Sep. 6
$450.00
$3,813.81 DR
9/07/2015
Service Provided
$2,000.00
$5,813.81 DR
9/09/2015
Sept. Advertising
$325.68
$5,488.13 DR
9/11/2015
Payment on Sep. 3
$1,100.00
$4,388.13 DR
9/11/2015
(AR Collection)
$400.00
$4,788.13 DR...
Date
Particulars
Amount (Dr)
Amount (Cr)
5-Dec
Accounts payable
$4,950
Cash or Bank Account
$4,950...
Date
Particulars
Amount (Dr)
Amount (Cr)
5-Dec
Accounts payable
$4,950
Cash or Bank Account
$4,950
6-Dec
Advance rental
$8,500
Cash or Bank Account
$8,500
6-Dec
Supplies Account
$720
Accounts payable
$720
7-Dec
Cash Account
$16,000
Concession Sales
$16,000
7-Dec
Bank Account
$16,000
Cash Account
$16,000
9-Dec
Cash Account
$480
Unearned revenue
$480
10-Dec
Concessions items
$2,150
Accounts payable
$2,150
Post the Dec. journal entries to the general ledger. I only have
a small...
The accounts below appear in the ledger of Bridgeport Company.
Retained Earnings Dr. Cr. Bal. Jan....
The accounts below appear in the ledger of Bridgeport Company.
Retained Earnings Dr. Cr. Bal. Jan. 1, 2020 Credit Balance $42,100
Aug. 15 Dividends (cash) $14,800 27,300 Dec. 31 Net Income for 2020
$39,900 67,200 Equipment Dr. Cr. Bal. Jan. 1, 2020 Debit Balance
$139,300 Aug. 3 Purchase of Equipment $62,100 201,400 Sept. 10 Cost
of Equipment Constructed 48,000 249,400 Nov. 15 Equipment Sold
$56,200 193,200 Accumulated Depreciation—Equipment Dr. Cr. Bal.
Jan. 1, 2020 Credit Balance $84,400 Apr. 8 Major...
The adjusted trial balance of ABC company is as
follows: Dr. Cr. Cash 13,000 Acc Rec...
The adjusted trial balance of ABC company is as
follows: Dr. Cr. Cash 13,000 Acc Rec 4,500 Supplies 600 Equipment
20,000 Account payable 9,500 Owner Capital 24,000 Owner Drawing
5,000 Total revenue 20,400 Salary exp 3,200 Utility exp 2,300 Rent
expense 5,300 Total $53,900 $53,900 Prepare an income statement,
statement of owner equity and balance sheet.
The trial balance before adjustment of Larkspur, Inc. shows the
following balances:
Dr.
Cr.
Accounts receivable...
The trial balance before adjustment of Larkspur, Inc. shows the
following balances:
Dr.
Cr.
Accounts receivable
$105,500
Allowance for doubtful accounts
1,960
Sales revenue (all on credit)
$698,000
Sales returns and allowances
29,100
A. Give the entry for bad debt expense for the current year
assuming the allowance should be 4% of gross accounts
receivable.
B. Give the entry for bad debt expense for the current year
assuming historical records show that, based on accounts receivable
aging, the following percentages...
MATTHEWS LANES
Work Sheet
For Year Ended June 30
Account
Income Statement
Balance Sheet
Dr
Cr...
MATTHEWS LANES
Work Sheet
For Year Ended June 30
Account
Income Statement
Balance Sheet
Dr
Cr
Dr
Cr
Cash
11,275
Accounts receivable
1,750
Office supplies
800
Prepaid insurance
3,400
Scoring equipment
140,000
Accumulated depreciation –
scoring equipment
21,700
Salaries payable
800
Common stock
20,000
Retained earnings (unadjusted)
40,000
Dividends
46,425
Bowling revenue
138,075
Depreciation expense –
scoring equipment
10,825
Salaries expense
1,800
Insurance expense
1,200
Rent expense
1,600
Office supplies expense
400
Repairs expense
350
Telephone expense
750
Totals
16,925...
The adjusted trial balance for Oriole Company is given
below.
ORIOLE
COMPANY
Trial Balance
August 31,...
The adjusted trial balance for Oriole Company is given
below.
ORIOLE
COMPANY
Trial Balance
August 31, 2022
Before
Adjustment
After
Adjustment
Dr.
Cr.
Dr.
Cr.
Cash
$11,640
$11,640
Accounts Receivable
8,440
8,940
Supplies
2,930
1,370
Prepaid Insurance
4,250
2,860
Equipment
16,000
16,000
Accumulated Depreciation—Equipment
$3,600
$4,800
Accounts Payable
5,870
5,870
Salaries and Wages Payable
0
1,140
Unearned Rent Revenue
1,920
1,080
Common Stock
18,220
18,220
Retained Earnings
5,700
5,700
Dividends
2,600
2,600
Service Revenue
34,240
34,740
Rent Revenue
13,720
14,560...
The accounts below appear in the ledger of Sheridan
Company.
Retained Earnings
Dr.
Cr.
Bal.
Jan....
The accounts below appear in the ledger of Sheridan
Company.
Retained Earnings
Dr.
Cr.
Bal.
Jan. 1, 2020
Credit Balance
$41,700
Aug. 15
Dividends (cash)
$14,800
26,900
Dec. 31
Net Income for 2020
$39,900
66,800
Equipment
Dr.
Cr.
Bal.
Jan. 1, 2020
Debit Balance
$139,900
Aug. 3
Purchase of Equipment
$61,700
201,600
Sept. 10
Cost of Equipment Constructed
48,000
249,600
Nov. 15
Equipment Sold
$56,100
193,500
Accumulated Depreciation—Equipment
Dr.
Cr.
Bal.
Jan. 1, 2020
Credit Balance
$83,700
Apr. 8
Major...
The trial balance before adjustment for Phil Collins Company
shows the following balances.
Dr. Cr.
Accounts...
The trial balance before adjustment for Phil Collins Company
shows the following balances.
Dr. Cr.
Accounts Receivable $82,000
Allowance for Doubtful Accounts 2,120 Sales Revenue $430,000
Using the data above, give the journal entries required to
record each of the following cases. (Each situation is
independent.)
1. To obtain additional cash, Collins factors without recourse
$25,000 of accounts receivable with Stills Finance. The finance
charge is 10% of the amount factored.
2. To obtain a 1-year loan of $55,000, Collins...
TRIAL BALANCE
Particullars
Dr. Amount
Cr. Amount
Cash
27,522
Capital
10,000
Bank Loan
5000
Office equipment...
TRIAL BALANCE
Particullars
Dr. Amount
Cr. Amount
Cash
27,522
Capital
10,000
Bank Loan
5000
Office equipment (Desk and Chair)
448
Service revenue
15,820
Rent expense
600
Electricity expense
300
Advertisement Expense
600
Maintenance expense
250
Insurance expense
100
Office supplies
200
Shop product
1000
Revenue received advance
500
Salaries expense
1000
Account Payable
700
Total
32020
32020
Question 6 : (1.5 mark) Assuming it is end of August, below
are 5 adjusting entries. Record the adjusting entries in
the general journal...