Week 3

Week 3 - P3-43Haupt Consulting, Inc.Trial BalanceDecember...

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Unformatted text preview: P3-43Haupt Consulting, Inc.Trial BalanceDecember 18, 2010AccountCashAccounts receivableSuppliesEquipmentFurnitureAccounts payableCommon stockService revenueRent expenseUtilities expenseTotalJournal EntryRef.DateAccounts and ExplanationsReq. 2Dec21CashUnearned Service RevenueCollected Revenue in Advance (30 days)Req. 2Dec26Accounts PayableCashPaid cash on accountReq. 2Dec28CashAccounts ReceivableCollected cash on accountReq. 2Dec30Carl Haupt, WithdrawalsCashOwner withdrawalJournal EntryReq. 6DateAccounts and ExplanationsaDec31Accounts ReceivableService RevenueTo accrue service revenueDec31Unearned Service RevenuebService RevenueTo record revenue that was collected in advancecDec31Supplies ExpenseSuppliesSupplies on hand, $100dDec31Depreciation expense - EquipmentAccumulated depriciation - EquipmentDepreciation expense - FurnitureAccumulated depriciation - FurnitureDepreciation Expense - equipment, $33; Furniture, $60eDec31Salary ExpenseSalary PayableTo Accrue Salary ExpenseASSETSLIABILICashAccounts Dec. 210,000500 Dec. 22,000 Dec. 3Dec. 26300200 Dec. 12300Dec. 18800300 Dec. 26Dec. 219001,600 Dec. 30Dec. 28600Salary pa12,3004,600BAL7,700Accounts receivableDec. 91,700600 Dec. 28Adj400Unearned ServAdj3002,100600BAL1,500300SuppliesDec. 5300200 Adj300200BAL100EquipmentDec. 32,0002,000BAL2,000Depreciation - Equipment33 Adj3333BALFurnitureDec. 43,6003,600BAL3,600d Depreciation - Furniture60 Adj6060BALHAYear ETrial BalanceAdjustmentAccountDebitCreditDeCash7,700Accounts Receivable1,100aSupplies300Equipment2,000Accumulated depriciation - EquipmentFurniture3,600Accumulated depriciation - FurnitureAccounts Payable3,600Salary payableUnearned service revenue900bCarl Haupt, Capital10,000Carl Haupt, Withdrawals1,600Service Revenue2,500Rent Expense500Utilities Expense200Salary expenseeDepreciation expense - EquipmentdDepreciation expense - FurnituredSupplies expensecTotal17,00017,000Haupt Consulting, Inc.Income StatementYear Ended December 31, 2010Revenue:Service revenue$3,200Expenses:Salary expense$700Utilities expense200Rent expense500Depreciation expense33Depreciation expense60Supplies expense200Total expenses1,693Net income (loss)$1,507Haupt Consulting, Inc....
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Week 3 - P3-43Haupt Consulting, Inc.Trial BalanceDecember...

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