9DBAchap 3ACC1010_Principles of Accounting I_SerialProblemTemplates.xlsx

This preview shows page 1 - 7 out of 39 pages.

Baker CollegeACC 1010 Principles of Accounting IKate's Cards Serial Problem Ch. 2abT-accountsGeneral JournalDescriptionDebitCreditPRCa1Cash10,00010,000Common stock10,0005,000purchashed stock to start buisness2 No entry necessary3 Consulting exspence50$4,900cash50consulted an brochureAccounts4 equiptment4,8001,850cash4,800purchased imac5 supplies inventory350Cost of goAccounts payable3501,750bought supplies on account6 No entry requiredDepreciatio1007 No entry required8 supplies1,500Accounts payable1,500cpurchased supplies on account9 cash5,000reference
sales revenue5,000sold 5000 cardscashAccounts recievab10 cost of good sold1,750supplies inventorysupplies inventory1,750prepaid insurancecost of the cards she soldequiptmentaccum. Depr. Equip11 account payable1,850Accounts payablecash1,850common stockpaid for the accounts payablesales revenuecost of good sold12 prepaid insurance1,100consulting expenseInsurance exspence100insurance epensecash1,200depriciation expenpaid for insurance policy, recognized one month expensewages expenserent expense13 Depreciation expense100accumulated depreciation100record depreciation expense on equiptment for septemberTotals14 Wages expense1,000cash1,000paid wage for month15 Rent expense1,200Cash1,200record rent expense
ashPRPRSupplies InventoryPRPRPrepaid InsurancePR503501,7501,1004,8001,5001,850$1001,2001,0001,200EquipmentAccumulated Depreciation -- Equipment4,800100s payableCommon stockSales revenue35010,0005,0001,500$-oods soldConsulting expenseInsurance expense50100on expenseWages expenseRent expense1,0001,200Kate's CardsTrial BalanceSeptember 30, 2019
DebitCredit4,900ble-y1001,1004,800ptment100-10,0005,0001,750e50100nse1001,0001,200$15,100$15,100
Baker CollegeACC 1010 Principles of Accounting IKate's Cards Serial Problem Ch. 3abT-accountsGeneral JournalDescriptionDebitCreditPRCa1 No entry necessary4,9004502 cash450500teaching revenue450Recives cash from teaching3 Accounts recivable3,5002,100sales revenue3,500sold cards on account4 utilities expense250Accumulatedcash250Pays a utility bill5 Cash500Unearned revenue500Dividrecieves an advanced deposit on new cards1006 Wages expense200Cash200Pays assistant for work done this monthCost of go1,7507 Wages expense100800Wages payable100$2,550assiatant has worked 10 additional hour that have not been payed yetDepreciatiosupplies inventory1,000100reference
Cash1,0001008ordered and received additional supplies$2009 Cost of good sold800supplies inventory800Determined ending supplies inventory (100+1000-300=800)10 depreciation expense100Accumulated depreciation100Insurance expense100Prepaid insurance100Records the adjusting entries for depreciation and interest expense11 Wages expense1,000cCash1,000pays herself a salary12 Rent expense1,200cash1,200CashPaid rent expense for monthAccounts recievabSupplies inventory13 Utility expense

Upload your study docs or become a

Course Hero member to access this document

Upload your study docs or become a

Course Hero member to access this document

End of preview. Want to read all 39 pages?

Upload your study docs or become a

Course Hero member to access this document

Term
Winter
Professor
NoProfessor
Tags
Accounting, Balance Sheet, Generally Accepted Accounting Principles, Kate

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture