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Accounting Cycle Prob

The general journal document records transactions from January 1 to January 6, 2021, including an initial investment of $100,000 cash by the owner George, the purchase of $60,000 in supplies, $400,000 in accounts receivable from service revenue, the collection of $270,000 from accounts receivable, a $60,000 withdrawal by George, and $180,000 in salaries expense paid in cash. The journal has debits and credits recorded for each transaction with account titles and explanations provided.

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Mc Clent Cervantes
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133 views

Accounting Cycle Prob

The general journal document records transactions from January 1 to January 6, 2021, including an initial investment of $100,000 cash by the owner George, the purchase of $60,000 in supplies, $400,000 in accounts receivable from service revenue, the collection of $270,000 from accounts receivable, a $60,000 withdrawal by George, and $180,000 in salaries expense paid in cash. The journal has debits and credits recorded for each transaction with account titles and explanations provided.

Uploaded by

Mc Clent Cervantes
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as XLS, PDF, TXT or read online on Scribd
You are on page 1/ 24

PROBLEM 15 Name

General Journal
GENERAL JOURNAL

Date Account Titles and Explanation P. R. Debit Credit


2021
January 1 Cash 100,000.00
George, Capital 100,000.00

2 Supplies Expense 60,000.00


Cash 60,000.00

3 Account Receivable 400,000.00


Service Revenue 400,000.00

4 Cash 270,000.00
Account receivable 270,000.00

5 George, Withdrawal 60,000.00


Cash 60,000.00

6 Salaries Expense 180,000.00


Cash 180,000.00
Name
Part 1

ACCOUNTS RECEIVABLE SUBSIDIARY LEDGER

Part 2
GENERAL LEDGER
Name
General Ledger

GENERAL LEDGER

CASH
Date Explanation P.R. DEBIT Date
1 100,000 2
3-Jan 270,000.00 4-Jan
5-Jan
370,000.00
Balance 70,000.00

ACCOUNT RECEIVABLE
Date Explanation P.R. DEBIT Date
2-Jan 400,000.00 3-Jan

Balance 130,000.00

George, Capital
Date Explanation P.R. DEBIT Date
1

Supplies Expense
Date Explanation P.R. DEBIT Date
2 60,000.00

Service revenue
Date Explanation P.R. DEBIT Date
3
George, Withrawals
Date Explanation P.R. DEBIT Date
4-Jan 60,000.00
NERAL LEDGER

ACCOUNT NO. __101__


Explanation P.R CREDIT
60,000
60,000.00
180,000.00
300,000.00

ACCOUNT RECEIVABLE ACCOUNT NO. 102___


Explanation P.R CREDIT
270,000.00

George, Capital
Explanation P.R CREDIT
100,000.00

Supplies Expense
Explanation P.R CREDIT

Service revenue
Explanation P.R CREDIT
400,000.00
George, Withrawals ACCOUNT NO. _106___
Explanation P.R CREDIT
Name
Trial Balance

ARNINA PHOTOGRAPHY
Trial Balance
July 31,2019
Debit Credit

Schedule of Accounts Receivable

Analysis:
Name
Worksheet
ROSALINA BESARIO SURVEYORS
Work Sheet
For the Year Ended May 31, 2016

Unadjusted Adjusted
Trial Balance Adjustments Trial Balance Income Statement
Account Titles Dr. Cr. Dr. Cr. Dr. Cr. Dr.
Cash 70,000 70,000
Accounts Receivable 130,000 130,000
George, Capital 100,000 100,000
George, Withrawalsl 60,000 60,000
Service Revenues 400,000 400,000
Salaries Expense 180,000 30,000 210,000 210,000
Supplies Expense 60,000 20,000 40,000 40,000
Totals 500,000 500,000
Bad Debts Expense 10,000 10,000 10,000
Allowance for Bad debts 10,000 10,000
Prepaid Supplies 20,000 20,000
Salaries payable 30,000 30,000
60,000 60,000 540,000 540,000 260,000
Net Income 140,000
400,000
Income Statement Balance Sheet
Cr. Dr. Cr.
70,000
130,000
100,000
60,000
400,000

10,000
20,000
30,000
400,000 280,000 140,000
140,000
400,000 280,000 280,000
Name
Worksheet
ROSALINA BESARIO SURVEYORS
Work Sheet
For the Year Ended May 31, 2016

Unadjusted Adjusted
Trial Balance Adjustments Trial Balance
Account Titles Dr. Cr. Dr. Cr. Dr. Cr.
Cash 210,000 210,000
Accounts Receivable 930,000 930,000
Prepaid Advertising 360,000 140,000 220,000
Engineering Supplies 270,000 180,000 90,000
Survey Equipment 1,890,000 1,890,000
Acc. Dep- Survey Equip 640,000 160,000 800,000
Accounts Payable 190,000 190,000
Unearned Survey Revenues 120,000 40,000 80,000
Notes Payable 500,000 500,000
Besario, Capital 1,120,000 1,120,000
Besario, Withdrawals 700,000 700,000
Survey Revenues 6,510,000 40,000 6,550,000
Salaries Expense 3,270,000 140,000 3,410,000
Rent Expense 960,000 960,000
Insurance Expense 250,000 250,000
Utilties Expense 160,000 160,000
Misc. Expense 80,000 80,000
Totals 9,080,000 9,080,000
Advertising Expense 140,000 140,000
Engineering Supplies Expesne 180,000 180,000
Depreciation Exepnse, SE 160,000 160,000
Salaries Payable 140,000 140,000
Interest Expense 60,000 60,000
Interes Payable 60,000 60,000
720,000 720,000 9,440,000 9,440,000
Net Income
31-May-16
April Adjusting Entries
March 31-May-16
Income Statement Balance Sheet Feb
Dr. Cr. Dr. Cr. Jan
210,000 Dec-15
930,000 Nov
220,000 Oct
90,000 Sept
1,890,000 August
800,000 July
190,000 1-Jun-15
80,000
500,000
1,120,000 Asset
700,000 360,000/18
6,550,000 20,000 x 7
3,410,000 140,000 used/expired
960,000 220000 unused
250,000
160,000 Asset
80,000 270,000
90,000 unused
140,000 180,000 used
180,000
160,000 Liab
140,000 120,000
60,000 1/3 40,000 earned
60,000 2/3 80,000 unearned
5,400,000 6,550,000 4,040,000 2,890,000
1,150,000 1,150,000
6,550,000 6,550,000 4,040,000 4,040,000
Adjusting Entries
a Advertising Expense 140,000
Prepaid Adverstising 140,000

b Engineering Supplies Expense 180,000


Engineering Supplies 180,000

c Depreciation Expense, SE 160,000


Acc. Depreciation, SE 160,000

d Unearned Survey Revenues 40,000


Survey Revenues 40,000

e Salaries Expense 140,000


Salaries Payable 140,000

f Interest Expense 60,000


Interest Payable 60,000
Name
Income Statement

Company Name
Income Statement
For Month Ended Date, Year
Name
Balance Sheet

Company Name
Statement of Changes in Owner's Equity
For Month Ended Date, Year

Company Name
Balance Sheet
Date, Year
Name
Post Closing Trial Balance

Company Name
Post-Closing Trial Balance
Date, Year
Debit Credit

Totals
Company Name
Schedule of Accounts Receivable
Date, Year

Company Name
Schedule of Accounts Payable
Date, Year

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