journal entries,t account ,trial balance
DESCRIPTION
accounting 1TRANSCRIPT
PROBLEM 1JOURNAL ENTRIES
a) Cash 13,000Service Revenue 13,000
b) Salaries Expense 24,000Cash 24,000
c) Cash 6,000Accounts Receivable 6,000
d) Drawings, Jim 4,000Cash 4,000
e) Supplies 7,000Accounts Payable 7,000
f) Accounts Receivable 9,000Service Revenue 9,000
g) Accounts Payable 5,000Cash 5,00
T- ACCOUTS
CASH SERVICE REVENUE SALARIES EXPENSE(A) 13,000 24,000 (B) 13,000 (A) (B) 24,000(C) 6,000 5,000 (G) 9,000 (F) 4,000 (D)
14,000 22,000 24,000
ACCOUNTS RECEIVABLE DRAWINGS SUPPLIES ACCOUNTS PAYABLE(F)9,000 6,000 (C) (D) 4,000 (E) 7,000 (G) 5,000 7,000 (E)
3,000 4,000 7,000 2,000
TRIAL BALANCEACCOUNTS DEBIT CREDITCASH 14,000ACCOUTNS RECEIVABLE
3,000
SUPPLIES 7,000ACCOUNTS PAYABLE
2,000
DRAWINGS 4,000SERVICE REVENUE
22,000
SALARIESEXPENSE
24,000
BALANCE 38,000 38,000
PROBLEM 2
JOURNAL ENTRIES
MAY 1 Cash 500,000Capital,Alexes 500,000
5 Prepaid Rent-equip 7,000Cash 7,000
9 Land 420,000Cash 420,000
10 Supplies 12,000Accounts Payable 12,000
14 Accounts Payable 10,000Cash 10,000
22 Cash 200,000Notes Payable 200,000
30 Cash 60,000 Accounts Receivable 50,000
Sales 110,00030 Salaries Expense 24.000 Rent Expense 15,000 Utilities expense 4,000
Cash 43,00030 Drawings,Alexes 40,000
Cash 40,000
T-ACCOUNTS CASH CAPITAL PREPAID RENT-EQUIP LAND(1) 500,000 7,000 (5) 500,000 (1) (5) 7,000 (9)420,000(22 ) 200,000 420,000 (9) 500,000 7,000 420,000(30a)60,000 10,000 (19) 43,000 (30b) 40,000 (30c) 240,000
SUPPLIES ACCOUNTS PAYABLE NOTES PAYABLE ACCOUNTS RECEIVABLE(10) 12,000 (19) 10,000 12,000 (10) 200,000 (22) (30a) 50,000 12,000 2,000 200,000 50,000
SALES SALARIES EXPENSE RENT EXPENSE UTILITIES EXPENSE DRAWINGS 110,000 (30a) (30b) 24,000 (30b) 15,000 (30b) 4,000 (30c) 40,000 110,000 24,000 15,000 4,000 40,000
TRIAL BALANCEACCOUNTS DEBIT CREDIT
CASH 240,000ACCOUNTS RECEIVABLE
50,000
SUPPLIES 12,000
PREPAID RENT 7,000
LAND 420,000
ACCOUNTS PAYABLE
2,000
NOTES PAYABLE
200,000
CAPITAL 500,000
DRAWINGS 40,000
SALES 110,000
SALARIES EXPENSE
24,000
RENT EXPENSE 15,000
UTILITIES EXPENSE
4,000
BALANCE 812,000 812,000
