Page 78 Beamer Biz - Beamer 20x5 1 Accounts Payable Cash To...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
Beamer 20x5 1Accounts Payable 180,000 Cash 180,000 To record payment of Accts Payable 2Cash 140,000 Accounts Receivable 140,000 To record receipt of Accts Receivable 3Inventory 300,000 Cash 75,000 Accounts Payable 225,000 To record purchase of 6 @ $50,000 4Cash 374,400 Accounts Receivable 93,600 Sales 468,000 To record sale of 6 @ $78,000 5Cost of Sales 280,000 Inventory 280,000 To record cost of inventory sold 4 @ $46,000 + 2 @ $48,000 6Wages Payable 4,000 Wage Expense 50,000 Cash 54,000 to record payment of wages 7Wage Expense 2,000 Wages Payable 2,000 To record unpaid wages at 12/31 8Utilities Expense 3,000 Cash 3,000 To record payment of utilites 27,000 Cash 5,000 22,000 10Interest Expense 660 Interest Payable 660 To record interest owed on Contract 11Interest Expense 4,000 Note Payable-Uncle Phil 50,000 Cash 54,000 To record payment of Note to Uncle Phil 12Rent Expense 12,000 Cash 15,000 Rent Payable 1,000 Prepaid Rent 2,000 To record payment and accrual of rent 13Interest Expense 16,000 Interest Payable 16,000 To record interest on mortgage 160,000*.10 14Depreciation Expense 29,400 Accumulated Depreciation- Building 15,000 13,500 Accumulated Depreciation-Signs 900 To record depreciation Building [(200,000-50,000)/10] Furn & Fixt [((27,000-6,000)/7)*4/12] + $12,500] Signs 900 15Taxes Payable 37,365 Cash 37,365 To record payment of 20x4 taxes 16Insurance Expense 3,000 Prepaid Insurance
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 09/12/2010 for the course ACCT 101 taught by Professor Drkirch during the Spring '10 term at Ohio University- Athens.

Page1 / 4

Page 78 Beamer Biz - Beamer 20x5 1 Accounts Payable Cash To...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online