ACC1010_Principles of Accounting I_SerialProblemTemplates.xlsx

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Baker CollegeACC 1010 Principles of Accounting IKate's Cards Serial Problem Ch. 2aGeneral JournalDescriptionDebit1 Cash10,000Common StockDeposited cash for common stock exchange2 No entry necessary3 Consulting expense50CashRecord of payment for service recevied4 Equipment4,800CashPurchase of office equipment in cash5 Supplies350Accounts payablePurchased office supplies6 No entry required7 No entry required8 Supplies Inventory1,500accounts payablePurchased office supplies9 Cash5,000Sales RevenueReceived payment on customer account10 Cost of Goods Sold1,750Supplies inventoryCost of supplies to make the productPostingreference
11 Accounts Payable1,850CashPayment of supplies from satinoary store12 Cash for insurance1,200Prepaid Insurance(1,100)Insurance ExpenseRecord advanced payment of insurance for one year13 Depriciation Expense100Accumulated DepreciationEquipment depreication over 4 years time14 Wage Expense1,000CashRecord payment of this months wages15 Rent expense1,200CashPayment of rent in cash for the month of September
bT-accountsCreditPRCashPRPRSupplies I110,000503535010,00095,0004,800481,5001,85011$100100121,000141,20015Equip$4,90044,800(50)Accounts payableCommo111,8503505(4,800)1,5008$-Cost of goods soldConsulting350101,750350Depreciation expenseWages e13100141,0001,500cKate's CardsTrial BalanceSeptember 30, 20195,000DebitCash4,900Account Receivable-Supplies Inventory1001,750Prepaid Insurance1,100Equipment4,800Accumulated Depreication-
Accounts Payable-(1,850)Common Stock-Retained EarningsSales RevenueCosts of Goods Sold1,750Consulting Expense50100Insurance Expense100Depreication Expense100Wage Expense1,000Rent Expense1,200(4,800)Totals$15,100(1,000)(1,200)
InventoryPRPRPrepaid InsurancePR1,750101,100pmentAccumulated Depreciation -- Equipment10013on stockSales revenue10,00015,0009g expenseInsurance expense12100expenseRent expense151,200Credit-----100
-10,0005,000------$15,100
Baker CollegeACC 1010 Principles of Accounting IKate's Cards Serial Problem Ch. 3aGeneral JournalDescriptionDebit1 No entry necessary2 Cash450Teaching revenueCharges for classes3 Revenue sales3,500Accounts ReceviableDeliver cards to customers4 Utility Expense250Cashutility bill paid5 Cash500Unearned RevenueAdvanced deposit for greeting cards6 Wage Expense200CashPaid assistant wages7 Wage Expense100Wages PayablePaid assistant wages that were missed8 Supplies1,000CashSupplies for the month9 Cost of Goods Sold800Supplies InventoryRemaining inventory from suppliesPostingreference
10 Depreciation Expense100Accumulated DepreicationDepreciation ofequipmentInsruance expense100insurance paymentprepayment of insurance11 Wage Expense1,000CashKate pays herself wages12 Rent Expense1,200CashMonthly rent payment13 Utility Expense85Utilities PayableUtility payment for the month14 Dividends100CashExtra cash for Kate given in dividendsd (1)Kate's CardsIncome Statement and Retained Earnings

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Term
Fall
Professor
Brenna Kauer
Tags
Balance Sheet, Revenue, Generally Accepted Accounting Principles, Kate

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