Group No.: General Jounral
Number Date Account Name DR 9/1/2016 Cash
Carburetor Inventory
Equipment
Accounts Payable
Common Stock
(To record the opening balances) 80,010.00
12,600.00
62,500.00 9/2/2016 Cash 72,000.00 Unearned Service Revenue
(To record the unearned revenue from delivery vans)
9/3/2016 Cash
Sales Revenue
Cost of Goods Sold
Inventory
(To record the sale of carburetors) 9/4/2016 Inventory 3,200.00
1,200.00 24,000.00 Accounts Payable
(To record the purchase of carburetors)
9/7/2016 Sales Returns & Allowances
Cash
Inventory
Cost of Goods Sold
(To record the return of damaged carburetors) 9/9/2016 Accounts Payable
Discount
Cash
(To record the discounted purchase of carburetors) 9/10/2016 Accounts Receivable
Sales Revenue
Cost of Goods Sold
Inventory
(To record the sale of carburetors) 9/15/2016 Accounts Payable 800.00
300.00 24,000.00 5,400.00
3,600.00 19,000.00 Cash
(To record the payment of accounts payable)
9/16/2016 Cash
5,238.00
Sales Discounts
162.00
Accounts Receivable
(To record the money received from discounted sale of carburetors) 9/17/2016 Accounts Receivable
Sales Revenue
Cost of Goods Sold
Inventory
(To record the sale of carburetors) 9/29/2016 Cash 10/2/2016 Cash
Discount 28,500.00
9,000.00 28,500.00
Accounts Receivable
(To record the money received from sale of carburetors)
288,000.00
12,000.00 Bonds Payable
(To record the issuance of bonds)
11/13/2016. Building 328,800.00 Cash
(To record the accrual of interest on purchased building)
11/17/2016. Accounts Receivable
Sales Revenue
(To record the sale of carburetors) 18,000.00 Interest Expense
766.00
Cash
(To record payment of interest owed for November 2016)
12/28/2016. Retained Earnings
Dividends Payable
(To record declaration of dividends to shareholders) 100.00 12/29/2016. Premium on B/P
30,900.00
Gain on Bond Redemption
Cash
Cash
450
Interest on Bond
(To record the redemption of bonds and interest received) 12/30/2016. Prepaid Expense
Cash
(To record payment of future advertising) 12/31/2016. Telephone Expense
Fuel Expense
Utilities Expense
Postage Expense
Accrued Expense
(To record expenses at year-end)
Allowance for Doubtful Debts
Accounts Receivable
(To record allowance for uncollected debts)
Depreciation Expense
Accumulated Depreciation - Equipment
(To record equipment depreciation)
Depreciation Expense
Accumulated Depreciation - Buildings
(To record building depreciation) 2,000 362
349
955
120 2,204 14,400 3,750 53 CR 19,000.00
136,110.00 72,000.00 3,200.00
1,200.00 24,000.00 800.00
300.00 960.00
23,040.00 5,400.00
3,600.00 19,000.00 5,400.00 28,500.00
9,000.00 28,000.00 300,000.00 328,800.00 18,000.00 766.00 100.00 900.00
30,000.00
450 2,000 1,786 2,204 14,400 3,750 Group No.: 53 Trial Balance Spreadsheet
Trial Balance
Dr.
Cr.
Cash
401,792
Inventory
23,100
Equipment
62,500
Prepaid Expense
2,000
Buildings
328,000
Accounts Receivable
15,796
Notes Payable
328,000
Bonds Payable
300,000
Premium on Bonds Payable
30,900
Gain on Bond Redemption
30,900
Interest on Bond Received
450
Allowance for Doubtful Debt
2,204
Common Stock
136,110
Account Titles Retained Earnings
100
Dividens Payable
Sales Revenue
Unearned Revenue
Sales Returns & Allowances
800
Cost of Goods Sold
12,900
Discounts
11,202
Telephone expense
362
Fuel expense
349
Utilities expense
955
Postage expense
120
Interest expense
Accrued expense
Depreciation expense
18,150
Accumulated Depreciation-Buildings
Accumulated Deprecation-Equipment
Totals Totals 911,230 Adjustments
Dr.
Cr. Adjusted Trial Balance
Dr.
Cr. Income Statement
Dr. 100
55,100
72,000 766
1,786
3,750
14,000
942,962 - - - - - Net Income/Loss - Totals - Debits don't equal credits Debits equal credits Debits equal credits Income Statement
Cr. - Balance Sheet
Dr.
Cr. - - - - Group No.: 53 Jack Tupp Auto Repair
Balance Sheet
As of
###
ASSETS:
Current Assets Long-term Investments (Enter this as a negative number)
Property, Plant, and Equipment (Enter this as a negative number)
Total Assets - LIABILITIES AND STOCKHOLDERS' EQUITY
Current Liabilities Long-Term Liabilities Stockholders' Equity Total Liabilities and Stockholders' Eq - Congratulations, it balances! egative number) egative number) it balances! Group No.:
Jack Tupp Auto Repair
Income Statement
For the Year Ended 53 ### Services and sales revenue Less:
Less:
Less: (Enter this as a negative number)
(Enter this as a negative number)
(Enter this as a negative number)
- Cost of goods sold (Enter this as a positive number)
- Selling expenses Adminsitrative expenses - - (Enter this as a negative number)
(Enter this as a negative number)
- this as a negative number)
this as a negative number)
this as a negative number) this as a positive number) this as a negative number)
this as a negative number) Group No.: 53 JACK TUPP AUTO REPAIR
Statement of Cash Flows
For the Year Ended - - - -

 

• 1497929986-ACCOUNTING FILE.xlsx

SuperTutor

(15)

Status NEW Posted 20 Jun 2017 03:06 AM My Price 20.00

-----------

Attachments

file 1497929987-Solutions file.docx preview (56 words )

S-----------olu-----------tio-----------ns -----------fil-----------e -----------Hel-----------lo -----------Sir-----------/Ma-----------dam----------- T-----------han-----------k y-----------ou -----------for----------- yo-----------ur -----------int-----------ere-----------st -----------and----------- bu-----------yin-----------g m-----------y p-----------ost-----------ed -----------sol-----------uti-----------on.----------- Pl-----------eas-----------e p-----------ing----------- me----------- on----------- ch-----------at -----------I a-----------m o-----------nli-----------ne -----------or -----------inb-----------ox -----------me -----------a m-----------ess-----------age----------- I -----------wil-----------l b-----------e q-----------uic-----------kly----------- on-----------lin-----------e a-----------nd -----------giv-----------e y-----------ou -----------exa-----------ct -----------fil-----------e a-----------nd -----------the----------- sa-----------me -----------fil-----------e i-----------s a-----------lso----------- se-----------nt -----------to -----------you-----------r e-----------mai-----------l t-----------hat----------- is----------- re-----------gis-----------ter-----------ed -----------onÂ----------- th-----------is -----------web-----------sit-----------e. ----------- H-----------YPE-----------RLI-----------NK -----------&qu-----------ot;-----------htt-----------p:/-----------/wo-----------rkb-----------ank-----------247-----------.co-----------m/&-----------quo-----------t; -----------\t -----------&qu-----------ot;-----------_bl-----------ank-----------&qu-----------ot;----------- -----------Tha-----------nk -----------you----------- -----------

Not Rated(0)

• Buy Answer