9 Complete the analysis test for January on page 27 T RANSACTIONS FOR J ANUARY

9 complete the analysis test for january on page 27 t

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9) Complete the analysis test for January on page 27. T RANSACTIONS FOR J ANUARY General Entries Jan. 5 Received $60,000 from Sophia LeBron and issued 12,000 common shares of $5 par value. 5 Paid $6,000 of general liability and property insurance. The disbursement by Check No. 100 was for a complete year of service. 6 Rented an office and furniture for $2,000 per month. Issued Check No. 101 for $6,000, representing the first and last months’ rent and the security deposit. (The security deposit, the last month’s rent, and the current rent are to be classified separately.) 7 Issued Check No. 102 for $1,600 for the purchase of office supplies. 7 Issued Check No. 103 for $7,000 for advertising to be run in local newspapers and maga- zines in the month of January. 10 Roxana Perini engaged My Place, House of Décor to renovate her oceanfront condominium. Received $10,000 from Roxana Perini after services were completed. 12 Recorded $6,000 (net 30) decorating fees earned on account from Maribel Thompson to remodel her office.
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Jan. 20 Received $8,000 from Frederick Lombart, a customer. These fees were related to services rendered to improve his office’s lobby. 25 Recorded $12,000 (net 60) decorating fees revenue earned on account from Roberto Andriani, a long-time customer who wanted to enhance his residence’s decor. 30 Issued Check No. 104 for $190 to pay the utilities bill for the month. 30 Issued Check No. 105 for $300 in payment of the telephone bill for the month. 30 Issued Check No. 106 for $200 for postage. 30 Issued Check No. 107 for $450 for business automobile expenses. 30 Issued Check No. 108 for $5,600 to Sophia LeBron for salary. (Payroll taxes are not con- sidered in this entry. Transactions in later months will show you how to journalize payroll tax deductions and expenses.) Adjusting Entries a) Expired insurance for the period, $500. b) Supplies on hand as of the end of the month, $1,000.
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My Place, House of Décor J ANUARY A NALYSIS Name Arturo Robles Date 05-27-2018 Grade From the statements you prepared for January, provide the following amounts: Adjusted Trial Balance 1) Trial balance totals ............................................................................................. 96000 Schedule of Accounts Receivable 2) Schedule of accounts receivable total ................................................................ 18000 Income Statement 3) Total revenue for the period (January) ............................................................... 36000 4) Total expenses .................................................................................................... 16840 5) Net income ......................................................................................................... 19160 Retained Earnings Statement 6) Ending retained earnings amount transferred to balance sheet .......................... 19160 Balance Sheet 7) Total assets as of January 31, 20-- ..................................................................... 79160 8) Total liabilities and stockholder’s equity as of January 31, 20-- ....................... 79160 Optional (software users) Post-Closing Trial Balance 9) Post-closing trial balance total ...........................................................................
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JOURNAL PAGE 1 DATE DESCRIPTION POST. REF. DEBIT CREDIT 1 Jan 5 Cash 1002 6 0 0 0 0 1 2 Common Stock 3001 6 0 0 0 0 2 3 3 4 5 Prepaid Insurance 1011 6 0 0 0 0 4 5 Cash 1002 6 0 0 0 0 5 6 6 7 6 Prepaid Rent 1013 4 0 0 0 7 8 Rent Expense 5005 2 0 0 0 8 9 Cash 1002 6 0 0 0 9 10 10 7 Supplies 1009 1 6 0 0 11 Cash 1002 1 6 0 0 11 12 12 13 7 Advertising Expense 5006 7 0 0 0 13 14 Cash 1002 7 0 0 0 14 15 15 16 10 Cash 1002 6 0 0 0 16 17 Service Revenue 3007 6 0 0 0 17 18 18 19 12 Accounts Receivable 1004 1 2 0 0 0 19 20 Service Revenue 3007 1 2 0 0 0 20 21 21 22 20 Cash 1002 8 0 0 0 22 23 Service Revenue 3007 8 0 0 0 23 24 24 25 25 Accounts Receivables 1004 25 26
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