Actbas1 Lesson 10 - Completing the Accounting Cycle (1)

250 f 50 42600 adj trial balance debit credit 2260

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: quipment 19Accumulated Depr. 21 Accounts Payable 22 Salaries Payable 23 Unearned Rent 31Chris Chee, Capital 32Chris Chee, Drawing 41 Fees Earned 42 Rent Revenue 51 Salaries Expense 52 Rent Expense 53Depreciation Expense 54 Utilities Expense 55 Supplies Expense 56Insurance Expense 59 Misc. Expense Net Profit Debit 2,065 2,720 760 2,300 20,000 1,800 4,000 4,525 1,600 50 985 2,040 100 455 43,400 Credit Statement of Comprehensive Income Account Statement of Financial Position Debit Credit 2,065 2,720 760 2,300 20,000 1,800 50 900 250 240 25,000 16,840 120 43,400 Debit 4,525 1,600 50 985 2,040 100 455 9,755 7,205 16,960 16,840 120 4,000 16,960 43,645 16,960 43,645 Credit 50 900 250 240 25,000 16,440 7,205 43,645 Adj. Trial Balance 11 Cash 12Accounts Receivable 14 Supplies 15 Prepaid Insurance 17 Land 18 Office Equipment 19Accumulated Depr. 21 Accounts Payable 22 Salaries Payable 23 Unearned Rent 31Chris Chee, Capital 32Chris Chee, Drawing 41 Fees Earned 42 Rent Revenue 51 Salaries Expense 52 Rent Expense 53Depreciation Expense 54 Utilities Expense 55 Supplies Expense 56Insurance Expense 59 Misc. Expense Net Profit Debit 2,065 2,720 760 2,300 20,000 1,800 4,000 4,525 1,600 50 985 2,040 100 455 43,400 Credit Statement of Comprehensive Income Account Statement of Financial Position Debit Credit 2,065 2,720 760 2,300 20,000 1,800 50 900 250 240 25,000 16,840 120 43,400 Debit 4,525 1,600 50 985 2,040 100 455 9,755 7,205 16,960 16,840 120 4,000 16,960 43,645 16,960 43,645 Credit 50 900 250 240 25,000 16,440 7,205 43,645 Adj. Trial Balance 11 Cash 12Accounts Receivable 14 Supplies 15 Prepaid Insurance 17 Land 18 Office Equipment 19Accumulated Depr. 21 Accounts Payable 22 Salaries Payable 23 Unearned Rent 31Chris Chee, Capital 32Chris Chee, Drawing 41 Fees Earned 42 Rent Income 51 Salaries Expense 52 Rent Expense 53Depreciation Expense 54 Utilities Expense 55 Supplies Expense 56Insurance Expense 59 Misc. Expense Net Profit Debit 2,065 2,720 760 2,300 20,000 1,800 4,000 4,525 1,600 50 985 2,040 100 455 43,400 Credit Statement of Comprehensive Income Account Statement of Financial Position Debit Credit 2,065 2,720 760 2,300 20,000 1,800 50 900 250 240 25,000 16,840 120 43,400 Debit 4,525 1,600 50 985 2,040 100 455 9,755 7,205 16,960 16,840 120 4,000 16,960 43,645 16,960 43,645 Credit 50 900 250 240 25,000 16,440 7,205 43,645 Internet Solutions Statement of Comprehensive Income For Two Months Ended December 31, 20x1 Fees earned Rent revenue Total revenues Expenses: Salaries expense Supplies expense Rent expense Utilities expense Insurance expense Depreciation expense Miscellaneous expense Total expenses Net profit $16,840 120 $16,960 $ 4,525 2,040 1,600 985 100 50 455 9,755 $ 7,205 Internet Solutions Statement of Financial Position December 31, 20x1 ASSETS Current assets: Cash $ 2,065 Accounts receivable 2,720 Supplies 760 Prepaid insurance 2,300 Total current assets $ 7,845 Fixed assets: Land $20,000 Office equipment 1,800 Less accum. depr. (50) 1,750 Total fixed as...
View Full Document

This note was uploaded on 09/13/2013 for the course ACCOUNTING 101 taught by Professor Ms.me during the Fall '11 term at De La Salle University.

Ask a homework question - tutors are online