Acct. 229 Practice Problem - Group 6

Acct. 229 Practice Problem - Group 6 - GENERAL JOURNAL...

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GENERAL JOURNAL Page 1 GROUP 06 Date Account Titles Debit Credit 1-Feb Office Supplies 325 Accounts Payable 325 1-Feb Prepaid Advertising 2,200 Cash 2,200 2-Feb Cash 49,800 Unearned Revenue 49,800 3-Feb Salaries Payable 3,650 Cash 3,650 5-Feb Inventory Shirts 1,760 Accounts Payable 1,760 6-Feb Inventory - Concessions 2,550 Accounts Payable 2,550 7-Feb Accounts Receivable 1710 Service Revenue 1,710 9-Feb Accounts Payable -1st 325 Cash 325 Accounts Payable -5th 1,760 Cash 1,760 10-Feb Cash 800 Accounts Receivable 320 Sales Revenue 1,120 COGS 385 Inventory Shirts 385 11-Feb Miscellaneous Expense 80 Cash 80 13-Feb Cash 100 Unearned Revenue 100 15-Feb Accounts Receivable 3,840 Sales Revenue 3,840 COGS 2,160 Inventory - Concessions 2,160 15-Feb Accounts Receivable 1,875 Service Revenue 1,875 16-Feb Salary and Wage Expense 3,195 GENERAL JOURNAL
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GENERAL JOURNAL Page 2 Cash 3,195 17-Feb Unearned Revenue 250 Service Revenue 250 18-Feb Cash 2,200 Accounts Receivable 2,200 19-Feb Inventory - Concessions 850 Cash 850 20-Feb Accounts Payable 4,320 Cash 4,320 21-Feb Cash 3,250 Accounts Receivable 3,250 22-Feb Cash 320 Accounts Receivable 320 23-Feb Utilities Expense 419 Accounts Payable 419 24-Feb Cash 585 Accounts Receivable 1,365 Sales Revenue 1,950 CGS 550 Inventory -shirts 550 25-Feb Cash 15,000 Common Stock 15,000 26-Feb Cash 1,260 Sales Revenue 1,260 CGS 330 Inventory - shirts 330 27-Feb Dividends 2,000 Cash 2,000 28-Feb Equipment 27000 Cash 17000 Note Payable 10,000 28-Feb Accounts Receivable 6,996 Cash 2,064 Service Revenue 9,060
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GENERAL JOURNAL Page 3 28-Feb Accounts Receivable 1,940 Cash 680 Sales Revenue 2,620 COGS 1,195 Inventory - Concessions 1,195 29-Feb Accounts Payable 1,100 Cash 1,100 GENERAL JOURNAL - ADJUSTING ENTRIES Date Account Titles Debit Credit ADJ1 Depreciation Exp 2,070 Accum Dep Building 1,250 Accum Dep Equipment 600 Accum Dep Furniture and Fixtures 220 ADJ2 Loss on Shrink 55 Inventory - Shirts 33 Inventory - Concessions 22 ADJ3 Salaries and Wage Expense 2,935 Salary and Wage Payable 2,935 ADJ4 Intrest Expense 1,875 Intrest Payable 1,875 ADJ5 Supplies Expense 335 Supplies 335 ADJ6 Insurance Expense 375 Prepaid Insurance 375 ADJ7 Unearned Revenue 4,150 Service Revenue 4,150
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GENERAL JOURNAL Page 4 ADJ8 Advertising Expense 550 Prepaid Advertising 550 GENERAL JOURNAL - CLOSING ENTRIES Date Account Titles Debit Credit CLO Sales Revenue 10,790 Service Revenue 17,045 Income Summary 27,835 Income Summary 16,509 Cost of Goods Sold 4,620 Insurance Expense 375 Advertising Expense 550 Salary and Wage Expense 6,130 Supplies Expense 335 Miscellaneous Expense 80 Utilities Expense 419 Depreciation Expense 2,070 Interest Expense 1,875 Loss on Shrinkage 55 Income Summary 11,326 Retained Earnings ` 11,326 Retained Earnings 2,000 Dividends 2,000
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GENERAL JOURNAL Page 5
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GENERAL LEDGER Page 6 PRACTICE SET GR 1 GENERAL LEDGER AC OUNT DATE DR CR BAL NOTES CASH BEG 7,50 2/1 2,20 Paid for ad campaign 2/2 49,80 Sold memberships 2/3 3,650 Paid wages 2/9 2,085 Paid for of ice sup lies
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Acct. 229 Practice Problem - Group 6 - GENERAL JOURNAL...

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