ACC1010_Principles of Accounting I_SerialProblem Chapter 13.xlsx

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Baker CollegeACC 1010 Principles of Accounting IKate's Cards Serial Problem Ch. 2aGeneral JournalDescriptionDebit12 No entry necessary3456 No entry required7 No entry required8910Postingreference
1112131415
bT-accountsCreditPRCashPRPRSupplies I$-Equip$-Accounts payableCommo$-Cost of goods soldConsultingDepreciation expenseWages ecKate's CardsTrial BalanceSeptember 30, 2019Debit
Totals$-
InventoryPRPRPrepaid InsurancePRpmentAccumulated Depreciation -- Equipmenton stockSales revenueg expenseInsurance expenseexpenseRent expenseCredit
$-
Baker CollegeACC 1010 Principles of Accounting IKate's Cards Serial Problem Ch. 3aGeneral JournalDescriptionDebit1 No entry necessary2 Cash450Teaching Revenue3 Accounts Receivable3,500Sales revenue4 Utility Expenses250Cash5 Cash500Unearned Revenue6 Wages expense200cash7 Wages expense100Wages payable8 supplies inventory1,000Cash9 Costs of Goods Sold800Supplies InventoryPostingreference
10 Depreciation expense100Accumulated deperciationinsurance expense100Prepaid insurance11 Wages expense1,000Cash12 Rent expense1,200Cash13 Utility Expense85Utility Payable14 Dividend100Cashd (1)Kate's CardsIncome Statement and Retained EarningsFor the Two Months Ended October 31, 2019RevenueTeaching RevenueSales RevenueTotal RevenueLess: Cost of Goods Sold2,550Insurance Expense200Consulting Expense50Deprecietion Expense200Utilities Expense335Salary Expense2,300
Total ExpensesNet incomed(3)Kate's CardsBalance SheetOctober 31, 2019ASSETSCashAccounts PayableSupplies InventoryPrepaid InsuranceEquipment4,800Less: Accu. Depreciation(200)Total AssetseClosing entriesGeneral JournalDescriptionDebit1 Sales Revenue6,500Teaching Revenue450Retained Earnings2 Retained Earnings5,635Cost of Goods SoldPostingreference
Depreciation ExpenseConsulting ExpenseInsurance ExpenseUtilities ExpenseWages Expense3 Dividends500Retained earnings
bT-accountsCreditPRCashPRPRAccountsBeg6,1002504Beg-2450200633,50055001,00083,5004501,000111,2001210014Prepaid3,300Beg1,1003,5001,000Accumulated depreciationAccount100 Beg25010010200Utilities payableUnearne5008513200DividendsSales r14100100Cost of goods soldConsultinBeg1,750Beg5098001,000$2,550$50Depreciation expenseWages10100Beg1,000800-6200$1007100
111,000$2,3001001001,000cKate's Cards1,200Trial BalanceOctober 31, 2019Debit85Cash4,100Accounts Recievable1,500Supplies inventory300Prepaid insurance1,000100Equipment4,800Accum Depr - Equipment-Accounts Payable-Wages Payable-Utilities Payable-Unearned Revenue-Common Stock-Dividends500Sales Revenue-Teaching Revenue-Cost of goods sold2,550Consulting Expense50Insurance Expense200Depreciation Expense200450Wages expense2,3006,500Utilities Expense3356,950Rent Expense-Totals$17,835d(2)Kate's CardsStatement of Stockholders' Equity

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

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