Expense date description debit 01 jan 05 credit

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Unformatted text preview: ent as well as knowledge-rich, on-line resources —for professors and students. We have 100’s of comprehensive web-based teaching tools, lab experiments, application notes, brochures, DVDs/ CDs, posters, and more. See what Agilent can do for you. www.agilent.com/find/EDUstudents www.agilent.com/find/EDUeducators © Agilent Technologies, Inc. 2012 u.s. 1-800-829-4444 canada: 1-877-894-4414 Download free eBooks at bookboon.com 13 Accounting Cycle Exercises II Problem 2: Solution Solution 2 CASH Date Description Debit Credit Balance 01-Jan-05 Balance forward - - - 02-Jan-05 Journal Page 1 3,000,000 - 3,000,000 11-Jan-05 Journal Page 1 - 30,000 2,970,000 15-Jan-05 Journal Page 1 - 300,000 2,670,000 17-Jan-05 Journal Page 2 450,000 - 3,120,000 18-Jan-05 Journal Page 2 540,000 - 3,660,000 31-Jan-05 Journal Page 2 - 300,000 3,360,000 31-Jan-05 Journal Page 2 - 606,000 2,754,000 ACCOUNTS RECEIVABLE Date Description 01-Jan-05 Balance forward 06-Jan-05 17-Jan-05 Debit Credit Balance - - - Journal Page 1 900,000 - 900,000 Journal Page 2 - 450,000 450,000 EQUIPMENT Date Description 01-Jan-05 Balance forward 04-Jan-05 Debit Journal Page 1 Credit Balance - - - 600,000 - 600,000 ACCOUNTS PAYABLE Date Description Debit Credit Balance 01-Jan-05 Balance forward - - - 07-Jan-05 Journal Page 1 - 30,000 30,000 11-Jan-05 Journal Page 1 30,000 - - 20-Jan-05 Journal Page 2 - 60,000 60,000 LOAN PAYABLE Date Description Debit Credit Balance 01-Jan-05 Balance forward - - - 04-Jan-05 Journal Page 1 - 600,000 600,000 31-Jan-05 Journal Page 2 600,000 - - CAPITAL STOCK Date Description Debit Credit Balance 01-Jan-05 Balance forward - - - 02-Jan-05 Journal Page 1 - 3,000,000 3,000,000 Download free eBooks at bookboon.com 14 Accounting Cycle Exercises II Problem 2: Solution REVENUES Date Description Debit 01-Jan-05 Credit Balance - - - 06-Jan-05 Journal Page 1 - 900,000 900,000 18-Jan-05 Journal Page 2 - 540,000 1,440,000 SUPPLIES EXPENSE Date Description Debit 01-Jan-05 Credit Balance - - - 07-Jan-05 Journal Page 1 30,000 - 30,000 20-Jan-05 Journal Page 2 60,000 - 90,000 WAGE EXPENSE Date Description Debit 01-Jan-05 Credit Balance - - - 15-Jan-05 Journal Page 1 300,000 - 300,000 31-Jan-05 Journal Page 2 300,000 - 600,000 INTEREST EXPENSE Date Description Debit 01-Jan-05 Please click the advert 31-Jan-05 Credit Balance - - 6,000 Journal Page 2 - 6,000 Need help with your dissertation? Get in-depth feedback & advice from experts in your topic area. Find out what you can do to improve the quality of your dissertation! Get Help Now Go to www.helpmyassignment.co.uk for more info Download free eBooks at bookboon.com 15 Accounting Cycle Exercises II Problem 3 Problem 3 The CEO of newly formed TrueTarget printed a copy of the company’s general ledger prior to a recent plane flight. She settled into seat 5A next to where you were sitting. Once airborne, she removed the printed “GL” from her brief case and began examining the report. Unfortunately, she realized that her print...
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This document was uploaded on 09/24/2013.

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