ACC1010_Principles of Accounting I_SerialProblem.xlsx -...

Baker College
ACC 1010 Principles of Accounting I
Kate's Cards Serial Problem Ch. 2
a
General Journal
Description Debit
1 Cash 10,000
Common Stock
2 No entry necessary
3 Consulting Expense 50
Cash
4 Equipment Expense 4,800
Cash
5 Supplies Inventory 350
Accounts Payble
6 No entry required
7 No entry required
8 Supplies Inventory 1,500
Accounts Payable
9 Cash 5,000
Sales Revenue
10 Cost of Goods Sold 1,750
Supplies Inventory
Posting
reference

11 Accounts Payable 1,850
Cash
12 Insurance Expense 100
Prepaid Insurance 1,100
Cash
13 Depreciation Expense 100
Accumulated Depreciation
14 Wage Expense 1,000
Cash
15 Rent Expense 1,200
Cash

b T-accounts
Credit PR Cash PR PR Supplies I
1 10,000 50 3 5 350
10,000 9 5,000 4,800 4 8 1,500
1,850 11 $ -
1,200 12
1,000 14
1,200 15 Equip
$ 4,900 4 4,800
50
Accounts payable Commo
11 1,850 350 5
4,800 1,500 8
$ -
Cost of goods sold Consulting
350 10 1,750 3 50
Depreciation expense Wages e
13 100 14 1,000
1,500 c Kate's Cards
Trial Balance
September 30, 2019
5,000 Debit
Cash 4,900
Common Stock
Cost of Goods Sold 1,750
1,750 Depreciation Expense 100
Supplies Inventory

Equipment Expense 4,800
Consulting Expense 50
1,850 Wage Expense 1,000
Prepaid Insurance 1,100
Accumulated Depreciation Expense
Sales Revenue
Insurance Expense 100
1,200 Rent Expense 1,200
100 Totals $ 15,000
1,000
1,200

Inventory PR PR Prepaid Insurance PR
1,850 11 12 1,100
pment Accumulated Depreciation -- Equipment
100 13
on stock Sales revenue
10,000 1 5,000 9
g expense Insurance expense
12 100
expense Rent expense
15 1,200
Credit
10,000

100
5,000
$ 15,100

Baker College
ACC 1010 Principles of Accounting I
Kate's Cards Serial Problem Ch. 3
a
General Journal
Description Debit
1 No entry necessary
2 Cash 450
Teaching Revenue
3 Cash 3,500
Sales Revenue
4 Utilies Expense 250
Cash
5 Cash 500
Unearned Evenue
6 Wage Expense 200
Cash
7 Wage Expense 100
Wage Payable
8 Supplies Inventory 1,000
Cash
9 Cost of Goods Sold 300
Supplies Inventory
Posting
reference

10 Depreciation Expense 100
Accumlated Depreciation
Insurance Expense 100
Prepaid Insurance
11 Wage Expense 1,000
Cash
12 Rent Expense 1,200
Cash
13 Utilities Expense 85
Utilities Payable
14 Dividends 100
Cash
d (1)
Kate's Cards
Income Statement and Retained Earnings
For the Two Months Ended October 31, 2019
Revenue

d(3)
Kate's Cards
Balance Sheet
October 31, 2019
ASSETS
Total Assets
e Closing entries
General Journal
Description Debit
1
2
Posting
reference

3

b T-accounts
Credit PR Cash PR PR Accounts
2 450 250 4
3 3,500 200 6
5 500 1,000 8 -
450 1,000 11
1,200 12
100 14 Prepaid
700
3,500 (1,000)
Accumulated depreciation Account
200 10
250
200
Utilities payable Unearne
500 85 13
200 Dividends Sales r
14 100
100
Cost of goods sold Consultin
9 300
1,000 $ 300 $ -
Depreciation expense Wages
10 100 6 200
300 7 100
$ 100 11 1,000

$ 1,300
200
100
1,000
c Kate's Cards
1,200 Trial Balance
October 31, 2019
Debit
85 Cash 700
Supplies Inventory 700
Prepaid Insurance
Accumulated depreciation
100 Wages Payable
Utilities payable 85
Unearned Revenue
Dividends 100
Sales Revenue
Teaching Revenue
Cost of Goods sold 300
Insurance Expense 100
Depreciation Expense 100
Wage Expense 1,300
Utilities Expense 335
Rent Expense 1,200
-
Totals $ 4,920
d(2)
Kate's Cards
Statement of Stockholders' Equity