Documente Academic
Documente Profesional
Documente Cultură
Comprehensive Problem
ACCT - 1110
Date
Dec. 1
12
15
18
20
22
25
27
GENERAL JOURNAL
Account Names
Cash
Truck
Micron Capital
Owner contribution
Prepaid Insurance
Cash
Advance payment for insurance
Office Supplies
Cash
Paid cash for office supplies
Cash
Service Revenue
Received cash for services
Accounts Receivable
Service Revenue
Performed services on account
Salaries Expense
Cash
Paid salaries
Cash
Service Revenue
Received cash for services
Cash
Unearned Revenue
Collected cash for future services
Cash
Accounts Receivable
Received cash for services previously performed
Fuel Expense
Accounts Payable
Debit
$30,000
8,000
Credit
$38,000
600
600
450
450
1,500
1,500
3,300
3,300
1,100
1,100
6,000
6,000
2,200
2,200
3,300
3,300
150
150
28
29
30
31
(a) 31
(b) 31
(c) 31
(d) 31
(e) 31
(f) 31
31
900
900
1,200
1,200
150
150
2,600
2,600
1,100
1,100
100
100
100
100
200
200
1,400
1,400
1,050
1,050
14,150
31
31
31
Income Summary
To close revenues
Income Summary
Salaries Expense
Depreciation Expense - Truck
Insurance Expense
Fuel Expense
Rent Expense
Supplies Expense
To close expenses
Income Summary
Micron Capital
To close Income Summary
Micron Capital
Micron Withdrawals
To close withdrawals
14,150
3,950
2,200
100
100
150
1,200
200
10,200
10,200
2,600
2,600
12/1
12/12
12/20
12/22
12/25
BAL
12/1
BAL
Adj BAL
12/30
Cash
30,000 600
1,500 450
6,000 1,100
2,200 1,200
3,300 150
2,600
36,900
Prepaid Insurance
600
600
100
500
Accounts Payable
150 150
0
12/1
12/4
12/18
12/29
12/30
12/31
12/15
12/28
BAL
12/31
Adj BAL
12/1
BAL
Clos 4
Clos 1
Service Revenue
14,150 1,500
3,300
6,000
900
11,700
1,400
1,050
14,150
12/25
12/4
BAL
Adj BAL
Trucks
8,000
8,000
Office Supplies
450
450
200
250
12/31
12/31
Adj BAL
Salaries Payable
1,100
1,100
12/31
Adj BAL
12/31
12/27
BAL
12/31
Micron Capital
38,000
38,000
2,600 10,200
45,600
GENERAL LEDGER
Accts. Rec
3,300 3,300
900
900
1,050
1,950
12/1
BAL
Clos 3
BAL
12/12
12/15
12/20
12/28
BAL
12/31
12/31
Adj BAL
12/31
BAL
BAL
12/18
BAL
12/31
Adj BAL
BAL
Unearned Revenue
2,200
2,200
1,400
800
Micron Withdrawals
2,600
2,600
2,600
0
Salaries Expense
1,100
1,100
1,100
2,200
2,200
0
12/22
BAL
Adj BAL
Clos 2
Clos 3
Clos 4
Income Summary
3,950 14,150
10,200
0
Clos 1
BAL
12/31
Adj BAL
Clos 2
12/31
Adj BAL
BAL
12/31
Adj BAL
BAL
Insurance Expense
100
100
100
0
Supplies Expense
200
200
200
0
BAL
12/27
BAL
Clos 2
BAL
Clos 2
GENERAL LEDGER
Fuel Expense
150
150
150
0
12/29
BAL
Clos2
BAL
Rent Expense
1,200
1,200
1,200
0
Clos 2
GENERAL LEDGER
Debit
Credit
$36,900
900
450
600
8,000
$2,200
38,000
2,600
11,700
1,100
150
1,200
$51,900
$51,900
Debit
Credit
$36,900
1,950
250
500
8,000
$100
800
1,100
38,000
2,600
14,150
2,200
100
100
150
1,200
200
$54,150
$54,150
Debit
Credit
$36,900
1,950
250
500
8,000
$47,600
$100
800
1,100
45,600
$47,600
Revenues:
Service Revenue
Expenses:
Salaries Expense
Depreciation Expense - Truck
Insurance Expense
Fuel Expense
Rent Expense
Supplies Expense
Total Expenses
Net Income
$14,150
$2,200
100
100
150
1,200
200
3,950
$10,200
$0
38,000
10,200
48,200
(2,600)
$45,600
Assets
Current Assets:
Cash
Accounts Receivable
Office Supplies
Prepaid Insurance
Total Current Assets
Plant Assets:
Truck
Less: Accumulated Depreciation
Total Plant Assets
Total Assets
Liabilities
Current Liabilities:
Unearned Revenue
Salaries Payable
Total Liabilities
Owner's Equity
Micron Capital
Total Liabilities and Owner's Equity
$36,900
1,950
250
500
39,600
$8,000
(100)
7,900
$47,500
800
1,100
1,900
45,600
$47,500