ACC1010_Principles of Accounting I_SerialProblem.xlsx -...

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Baker CollegeACC 1010 Principles of Accounting IKate's Cards Serial Problem Ch. 2aGeneral JournalDescriptionDebit1 Cash10,000Common Stock2 No entry necessary3 Consulting Expense50Cash4 Equipment Expense4,800Cash5 Supplies Inventory350Accounts Payble6 No entry required7 No entry required8 Supplies Inventory1,500Accounts Payable9 Cash5,000Sales Revenue10 Cost of Goods Sold1,750Supplies InventoryPostingreference
11 Accounts Payable1,850Cash12 Insurance Expense100Prepaid Insurance1,100Cash13 Depreciation Expense100Accumulated Depreciation14 Wage Expense1,000Cash15 Rent Expense1,200Cash
bT-accountsCreditPRCashPRPRSupplies I110,000503535010,00095,0004,800481,5001,85011$-1,200121,000141,20015Equip$4,90044,80050Accounts payableCommo111,85035054,8001,5008$-Cost of goods soldConsulting350101,750350Depreciation expenseWages e13100141,0001,500cKate's CardsTrial BalanceSeptember 30, 20195,000DebitCash4,900Common StockCost of Goods Sold1,7501,750Depreciation Expense100Supplies Inventory
Equipment Expense4,800Consulting Expense501,850Wage Expense1,000Prepaid Insurance1,100Accumulated Depreciation ExpenseSales RevenueInsurance Expense1001,200Rent Expense1,200100Totals$15,0001,0001,200
InventoryPRPRPrepaid InsurancePR1,85011121,100pmentAccumulated Depreciation -- Equipment10013on stockSales revenue10,00015,0009g expenseInsurance expense12100expenseRent expense151,200Credit10,000
1005,000$15,100
Baker CollegeACC 1010 Principles of Accounting IKate's Cards Serial Problem Ch. 3aGeneral JournalDescriptionDebit1 No entry necessary2 Cash450Teaching Revenue3 Cash3,500Sales Revenue4 Utilies Expense250Cash5 Cash500Unearned Evenue6 Wage Expense200Cash7 Wage Expense100Wage Payable8 Supplies Inventory1,000Cash9 Cost of Goods Sold300Supplies InventoryPostingreference
10 Depreciation Expense100Accumlated DepreciationInsurance Expense100Prepaid Insurance11 Wage Expense1,000Cash12 Rent Expense1,200Cash13 Utilities Expense85Utilities Payable14 Dividends100Cashd (1)Kate's CardsIncome Statement and Retained EarningsFor the Two Months Ended October 31, 2019Revenue
d(3)Kate's CardsBalance SheetOctober 31, 2019ASSETSTotal AssetseClosing entriesGeneral JournalDescriptionDebit12Postingreference
3
bT-accountsCreditPRCashPRPRAccounts2450250433,500200655001,0008-4501,000111,2001210014Prepaid7003,500(1,000)Accumulated depreciationAccount20010250200Utilities payableUnearne5008513200DividendsSales r14100100Cost of goods soldConsultin93001,000$300$-Depreciation expenseWages1010062003007100$100111,000
$1,3002001001,000cKate's Cards1,200Trial BalanceOctober 31, 2019Debit85Cash700Supplies Inventory700Prepaid InsuranceAccumulated depreciation100Wages PayableUtilities payable85Unearned RevenueDividends100Sales RevenueTeaching RevenueCost of Goods sold300Insurance Expense100Depreciation Expense100Wage Expense1,300Utilities Expense335Rent Expense1,200-Totals$4,920d(2)Kate's CardsStatement of Stockholders' Equity

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Term
Fall
Professor
Ashley Harper
Tags
Balance Sheet, Revenue, Generally Accepted Accounting Principles, Kate

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