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hwacctcyclekeyexample Ace Consulting

hwacctcyclekeyexample Ace Consulting - file: dgd:02/08...

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file:acctcycleproblemkey08s dgd:02/08 Alpha Graphics Corporation Adjusting Journal Entries Date Description Dr. Cr. 1/31/2008 (a) Salaries Expense $2,800 Salaries Payable $2,800 ($3500/5) * 4 days (b) Unearned Service Revenue 2,300 Service Revenue 2,300 © Depreciation Expense 625 Accumulated Dep - Equipment 625 (d) Rent Expense 1,100 Prepaid Rent 1,100 ($13,200 - $12,100) (e) Insurance Expense 1,250 Prepaid Insurance 1,250 (f) Interest Expense 150 Interest Payable 150 (g) Supplies Expense 390 Supplies 390 ($3600-$3,210) (h) Accounts Receivable 7,100 Service Revenue 7,100 (i) Income Tax Expense 8,500 Income Tax Payable 8,500 $24,215 $24,215
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Cash Short Term Investments Accounts Receivable Supplies Prepaid Insurance BB 34,900 BB 9,500 BB 25,310 BB 3,600 390 (g) BB 12,200 1,250 (e) 9,500 (h) 7,100 3,210 10,950 34,900 32,410 Prepaid Rent Equipment Accumulated Dep. - Equip Accounts Payable Unearned Service Revenue BB 13,200 1,100 (d) BB 31,370 3,400 BB 7,290 BB (b) 2,300 5,300 BB 12,100 31,370 625 © 7,290 3,000 4,025 Notes Payable Common Stock Retained Earnings Service Revenue Misc. Operating Expense 22,500 BB 6,000 BB 27,290 113,100 BB BB 560 22,500 6,000 2,300 (b) 560 7,100 (h) 122,500 Salaries Expense Travel Expense Computer Maintenance Expense Equip Leasing Expense Utilities Expense BB 36360
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