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    Accounting For Manager - Accounting Exam Solution

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    Dinar Hassan
    1) The original trial balance showed revenues of $26,100 and expenses of $26,100, resulting in no profit or loss. 2) Adjusting entries were made for supplies expense, depreciation expense, and unearned revenue. 3) The adjusted trial balance had total debits of $27,250 and total credits of $27,250.

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    Accounting For Manager - Accounting Exam Solution

    Uploaded by

    Dinar Hassan
    41 views9 pages
    1) The original trial balance showed revenues of $26,100 and expenses of $26,100, resulting in no profit or loss. 2) Adjusting entries were made for supplies expense, depreciation expense, and unearned revenue. 3) The adjusted trial balance had total debits of $27,250 and total credits of $27,250.

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    Final Exam preperation

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    1) The original trial balance showed revenues of $26,100 and expenses of $26,100, resulting in no profit or loss. 2) Adjusting entries were made for supplies expense, depreciation expense, and unearned revenue. 3) The adjusted trial balance had total debits of $27,250 and total credits of $27,250.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    41 views9 pages

    Accounting For Manager - Accounting Exam Solution

    Uploaded by

    Dinar Hassan
    1) The original trial balance showed revenues of $26,100 and expenses of $26,100, resulting in no profit or loss. 2) Adjusting entries were made for supplies expense, depreciation expense, and unearned revenue. 3) The adjusted trial balance had total debits of $27,250 and total credits of $27,250.

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    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    You are on page 1of 9

    Accounting for Manager - Acc

    Month 1
    Quarter 3
    Hallf yearly
    Annual 12

    Time Number of mnths 6

    Original Trial Balance


    Acounting Title Dr Cr
    Suppies 1500
    Prepaid Insurance 3500
    Equipment 45300
    Salaries 4000
    Unearned Service Revenue 5000
    Service Revenue 22200
    Note Payable 16000
    Accounts payable 5300
    Insirence Expense
    Depreciation Expense
    Accumulated Depreciation on Equipment
    Salaries Payable
    Profit/Loss
    54300 48500
    5800

    Adjusting entries No of month Total Given


    Prepaid Insurance 6 200
    Accounting entry
    1
    Dr Cr
    Insurance Expense 1200
    Prepaid Insurance 1200

    Annual Depreciation No of month Total Given


    Annual Depreciation 6 500
    2
    Dr Cr
    Depreciation Expense 250
    Accumulated Depreciation on Equipment 250

    unearned revenue earnerned 2000

    3 Dr Cr
    3
    Unearned Service Revenue 2000
    Service Revenue 2000

    Unpaid earned but not paid (Unpaid salary) 1500

    4 Dr Cr
    Salaries 1500
    Salaries payable 1500

    Purchase of supply incorretly recorded Equipment 300

    5 Dr Cr
    Supplies 300
    Equipment 300
    g for Manager - Accounting Exam solution

    Adjustments Adjusted Trial Balance Income Sttement


    Dr Cr Dr Cr Dr
    300 1800
    1200 2300
    300 45000
    1500 5500 5500
    2000 3000
    2000 24200
    16000
    5300
    1200 1200 1200
    250 250 250
    250 250
    1500 1500
    17250
    5250 5250 56050 50250 24200

    Calcuated Amount
    1200

    Calcuated Amount
    250
    Income Sttement Balance Sheet
    Cr Dr Cr
    1800
    2300
    45000

    3000
    24200
    16000
    5300

    250
    1500
    0 17250
    24200 49100 43300
    5800
    Accounting for Manager

    Original Trial Balance


    Acounting Title Dr Cr
    Cash 9300
    Accounts Receivable 2800
    Supplies 1800
    Equipment 8000
    Accumulated Deprecition Equoment 800
    Mortgage Payable 3000
    Accounts Payable 700
    Unearnes Revenue 800
    Capital 11000
    Prepaid Insurance 1400
    Service Revenue 8700
    Consulting Revenue 1100
    Drawings 600
    Salaries Expense 2200
    Supplies Expense
    Depreciation Expense
    Profit

    26100 26100
    0

    Dr Cr
    2 Supplies Expense 500
    Supplies 500

    Dr Cr
    Depreciation Expense 400
    Accumulated Depreciation 400

    Dr Cr
    Accounts Receivabe 750
    Service Revenue 750
    unting for Manager - Accounting Exam solution

    Adjustments Adjusted Trial Balance


    Dr Cr Dr Cr
    9300
    750 3550
    500 1300
    8000
    400 1200
    3000
    700
    800
    11000
    1400
    750 9450
    1100
    600
    2200
    500 500
    400 400

    1650 1650 27250 27250


    1
    am solution

    Income Sttement Balance Sheet


    Dr Cr Dr Cr
    9300
    3550
    1300
    8000
    1200
    3000
    700
    800
    0 11000
    1400
    9450
    1100
    600
    2200
    500
    400

    7450 0 7450
    10550 10550 24150 24150
    0
    Income Statement
    Dr Cr
    Inome from Revenue
    Service Revenue 9450
    Consulting Revenue 1100

    Expense
    Salaries Expense 2200
    Supplies Expense 500
    Depreciation Expense 400

    Profit 7450
    10550 10550

    Owners Equity
    Capital 11000
    Profit 7450
    Loss 0
    Drawings -600
    Owners Equity 17850

    Balance Sheet
    Asset
    Current
    Cash 9300
    Accounts Receivable 3550
    Supplies 1300
    Prepaid Insurance 1400
    15550
    Non-Current
    Equipment 8000
    Accumulated Deprecition Equoment -1200
    6800

    Total Asset 22350

    Liability & OE
    Current
    Mortgage Payable(Short Term) 1000
    Accounts Payable 700
    Unearnes Revenue 800
    2500
    Long term Liabilities
    Mortgage Payable 2000
    2000

    Owner Equity 17850

    Total Liabiity & OE 22350

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