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SOLUTION TO P1-1A

Assets Liabilitie Owners Equity


s
(+) (+) (+) (+) (-) (+) (-)
Se
Cash Account Supplies Equipme Account N. N. Revenue Expense
r
s nt s Barone Barone. s s
Receiva Payable Capital Drawing
ble s
10,000 10,000
-5,000 5,000
-400 -400
-500 500
250 -250
5100 5100
-1000 -1000
-2000 -2000
-140 -140
750 750
120 -120

6,180 630 500 5,000 250 10,000 -1,000 5,850 -2,790


T 12,310 12,310

SOLUTION TO P1-2A

Se Assets Liabilities Owners Equity


(+) (+) (+) (+) (+) (-) (+) (-)
Cash Accoun Supplie Office Notes Accoun M. M. Revenu Expens
ts s Equipm Payable ts Gonzale Gonzale es es
r
Receiva ent Payable z z
ble Capital Drawin
gs
9000 1700 600 6000 3600 13700
-2900 -2900
1300 -1300
-800 2100 1300
2500 5500 8000
-1000 -1000
-1700 -1700
-900 -900
-300 -300
170 -170
10000 10000
15200 5900 600 8100 10000 2170 13700 -1000 8000 -3070
T 29800 29800
SOLUTION TO P1-2A

Assets Liabilities Owners Equity


(+) (+) (+) (+) (+) (-) (+) (-)
Ju Cash Accoun Supplie Deliver Notes Accoun M. M. Revenu Expens
n ts s y Van Payable ts Miller. Miller. es es
Receiva Payable Capital Drawin
ble gs
1 10000 10000
2 -2000 12000 10000
3 -500 -500
5 4400 4400
9 -200 -200
12 150 150
15 1250 -1250
17 100 -100
20 1500 1500
23 -500 -500
26 -250 -250
29 -100 -100
30 -1000 -1000
8200 3150 150 12000 9500 150 10000 -200 5900 -1850
T 23500 23500
SOLUTION TO P2-1A
FRONTIER PARK
General Journal
For the Month of April 2016

Date Account Titles and Explanation Debit Credit


Apr. 1 Cash 40,000
C. J. Mendez, Capital 40,000
(Owner invested to start the
business)

Apr. 4 Land 30,000


Cash 30,000
(Bought a piece of land on cash)

Apr. 8 Advertising Expense 1,800


Accounts Payable 1,800
(Advertising for the business on
account)

Apr. 11 Salaries Expense 1,500


Cash 1,500
(Paid salaries to the employees)
Apr. 12 No Entry (No transaction)
(Hired employee)
Apr. 13 Prepaid Insurance 1,500
Cash 1,500
(Insured the business for 1 year)
Apr. 17 C. J. Mendez. Drawing 1,000
Cash 1,000
(Owner withdrawal for personal use)
Apr. 20 Cash 5,700
Admission Revenue 5,700
(Earned as admission fees)
Apr. 25 Cash 2,500
Unearned Admission Revenue 2,500
(Earned by selling coupon books)
Apr. 30 Cash 8,900
Admission Revenue 8,900
(Earned as admission fees)
Apr. 30 Accounts Payable 900
Cash 900
(Paid balance owed for advertising)
SOLUTION TO P2-2A
JANE KENT
General Journal
For the Month of May 2010

Date Account Titles and Explanation Debit Credit


May 1 Cash 25,000
Jane Kent, Capital 25,000
(Owner invested to start the
business)

May 2 No Entry - No transaction


(Hired Employee)
May 3 Supplies 2,500
Accounts Payable 2,500
(Purchased supplies on account)

May 7 Rent Expense 900


Cash 900
(Paid rent for the month)

May 11 Accounts Receivable 2,100


Service Revenue 2,100
(Billed client for services provided)

May 12 Cash 3,500


Unearned Revenue 3,500
(Received advance for future
engagement)

May 17 Cash 1,200


Service Revenue 1,200
(Received cash for service provided)

May 31 Salary Expense 2,000


Cash 2,000
(Paid salary of an employee)

May 31 Accounts Payable 1,000


Cash 1,000
(Paid 40% balance due for supply)

Cash
May 1 25,000 May 7 900
May 12 3,500 May 31 2,000
May 17 1,200 May 31 1,000
C/D 25,800
29,700 29,700
B/D 25,800

Supplies
May 3 2,500 C/D 2,500
2,500 2,500
B/D 2,500

Unearned Revenue
C/D 3,500 May 12 3,500
3,500 3,500
B/D 3,500

Service Revenue
C/D 3,300 May 11 2,100
May 17 1,200
3,300 3,300
B/D 3,300

Rent Expense
May 7 900 C/D 900
900 900
B/D 900

Accounts Receivable
May 11 2,100 C/D 2,100
2,100 2,100
B/D 2,100
Accounts Payable
May 31 1,000 May 3 2500
C/D 1,500
2,500 2500
B/D 1,500

Jane Kent, Capital


C/D 25,000 May 1 25,000
25,000 25,000
B/D 25,000

Salaries Expense
May 31 2,000 C/D 2,000
2,000 2,000
B/D 2,000

JANE KENT
Trial Balance
May 31, 2010

Seria Accounts Title Ref

l
1. Cash 101
2. Accounts Receivable 112
3. Supplies 126
4. Accounts Payable 201
5. Unearned Revenue 205
6. Jane Kent, Capital 301
7. Service Revenue 400
8. Salaries Expense 726
9. Rent Expense 729
Total
SOLUTION TO P2-5A
The Lake Theater
General Journal
For the Month of April 2010
Date Account Titles and Explanation
Apr. 2 Film Rental Expense
Cash
(Paid rental for the movie)
Apr. 3 No Entry (No transaction)
(Ordered additional films)
Apr. 9 Cash
Admission Revenue
(Received in cash for services
provided)
Apr. 10 Mortgage Payable
Accounts Payable
Cash
(Paid mortgage and accounts
payable)
Apr. 11 No Entry (No Transaction)
(Signed contract to lease concessio
stand)
Apr. 12 Advertising Expense
Cash
(Paid advertising cost)
Apr. 20 Film Rental Expense
Accounts Payable
(Received preordered film on bill)
Apr. 25 Cash
Admission Revenue
(Received in cash for admission)
Apr. 29 Salaries Expense
Cash
(Paid salaries)
Apr. 30 Accounts Receivable
Cash
Concession Revenue
(Received cash and balance on
account for concession stand)
Apr. 30 Prepaid Rentals
Cash
(Paid rental for film to be shown on
May 5)

Cash
Apr. 1 6,000 Apr. 2 800
Apr. 9 2,800 Apr. 10 3,000
Apr. 25 5,200 Apr. 12 500
Apr. 30 85 Apr. 29 2,000
Apr. 30 900
C/D 6,885
14,085 14,085
B/D 6,885

Prepaid Rentals
Apr. 30 900 C/D 900
900 900
B/D 900

Buildings
Apr. 1 8,000 C/D 8,000
8,000 8,000
B/D 8,000

Accounts Payable
Apr. 10 1,000 Apr 1 2,000
C/D 2,000 Apr. 20 1,000
3,000 3,000
B/D 2,000

Tony Carpino, Capital


C/D 20,000 Apr. 1 20,000
20,000 20,000
B/D 20,000

Concession Revenue
C/D 170 Apr 30 170
170 170
B/D 170

Film Rental Expense


Apr. 2 800 C/D 1,800
Apr. 20 1,000
1,800 1,800
B/D 1,800
Accounts Receivable
Apr. 30 85 C/D 85
85 85
B/D 85

Land
Apr. 1 10,000 C/D 10,000
10,000 10,000
B/D 10,000

Equipment
Apr. 1 6,000 C/D 6,000
6,000 6,000
B/D 6,000

Mortgage Payable
Apr. 10 2,000 Apr 1 8,000
C/D 6,000
8,000 8,000
B/D 6,000

Admission Revenue
C/D 8,000 Apr. 9 2,800
Apr. 25 5,200
8,000 8,000
B/D 8,000

Advertising Expense
Apr. 12 500 C/D 500
500 500
B/D 500

Salaries Expense
Apr. 29 2,000 C/D 2,000
2,000 2,000
B/D 2,000
THE LAKE THEATER
Trial Balance
April 31, 2010

Seria Account Titles and Ref Debit Credit

l Explanation
1. Cash 101 6,885
2. Accounts Receivable 112 85
3. Prepaid Rentals 136 900
4. Land 140 10,000
5. Buildings 145 8,000
6. Equipment 157 6,000
7. Accounts Payable 201 2,000
8. Mortgage Payable 275 6,000
9. Tony Carpino, Capital 301 20,000
10. Admission Revenue 405 8,000
11. Concession Revenue 406 170
12. Advertising Expense 610 500
13. Film Rental Expense 632 1,800
14. Salaries Expense 726 2,000
Total 36,170 36,170
SOLUTION TO P3-1A
MASASI COMPANY
General Journal
For the Month of JUNE 2010
J3
Date Account Titles and Explanation Debit Credit
June Supplies Expense 1,400
30 Supplies 1,400
(to record supplies used, $ 2000-
600)
June Utilities Expense 150
30 Utilities Payable 150
(to record utility bill)
June Insurance Expense 250
30 Prepaid Insurance 250
(to record expired insurance,
3000/12)
June Unearned Service Revenue 2,500
30 Service Revenue 2,500
(to record revenue for services
provided)
June Salaries Expense 2,000
30 Salaries Payable 2,000
(to record accrued salaries)
June Depreciation Expense 250
30 Accumulated Depreciation - Office 250
Equipment
(to record monthly depreciation)
June Accounts Receivable 1,000
30 Service Revenue 1,000
(to record revenue for services
provided)

Cash (O) No. 101


Jun. 30 Bal. 7,150 C/D 7,150
7,150 7,150
B/D 7,150

Supplies (O) No. 126


Jun. 30 Bal. 2,000 Jun. 30 Adj. 1,400
C/D 600
2,000 2,000
B/D 600
Office Equipment (O) No. 157
Jun. 30 Bal. 15,000 C/D 15,000
15,000 15,000
B/D 15,000

Accounts Payable (O) No. 201


C/D 4,500 Jun. 30 Bal. 4,500
4,500 4,500
B/D 4,500

Salaries Payable (N) No. 212


C/D 2,000 Jun. 30 Adj. 2,000
2,000 2,000
B/D 2,000

T. Masasi, Capital (O) No. 301


C/D 21,750 Jun. 30 Bal. 21,750
21,750 21,750
B/D 21,750

Supplies Expense (N) No. 631


Jun. 30 Adj. 1,400 C/D 1,400
1,400 1,400
B/D 1,400

Insurance Expense (N) No. 722


Jun. 30 Adj. 250 C/D 250
250 250
B/D 250

Rent Expense (O) No. 729


Jun. 30 Bal. 1,000 C/D 1,000
1,000 1,000
B/D 1,000

Accounts Receivable (O) No. 112


Jun. 30 Bal. 6,000 C/D 7,000
Jun. 30 Adj. 1,000
7,000 7,000
B/D 7,000

Prepaid Insurance (O) No. 130


Jun. 30 Bal. 3,000 Jun. 30 Adj. 250
C/D 2,750
3,000 3,000
B/D 2,750
Accumulated Depreciation -
Office Equipment (N) No. 158
C/D 250 Jun. 30 Adj. 250
250 250
B/D 250

Unearned Service Revenue (O) No. 209


Jun. 30 Adj. 2,500 Jun. 30 Bal. 4,000
C/D 1,500
4,000 4,000
B/D 1,500

Utilities Payable (N) No. 214


C/D 150 Jun. 30 Adj. 150
150 150
B/D 150

Service Revenue (O) No. 400


C/D 11,400 Jun. 30 Bal. 7,900
Jun. 30 Adj. 2,500
Jun. 30 Adj. 1,000
11,400 11,400
B/D 11,400

Depreciation Expense (N) No. 711


Jun. 30 Adj. 250 C/D 250
250 250
B/D 250

Salaries Expense (O) No. 726


Jun. 30 Bal. 4,000 C/D 6,000
Jun. 30 Adj. 2,000
6,000 6,000
B/D 6,000

Utilities Expense (N) No. 732


Jun. 30 Adj. 150 C/D 150
150 150
B/D 150
MASASI COMPANY
Adjusted Trial Balance
June 30, 2010

Seri Accounts Title No. Debit Credit

al
1. Cash 101 7,150

2. Accounts Receivable 112 7000

3. Supplies 126 600

4. Prepaid Insurance 130 2750

5. Office Equipment 157 15000

6. Accumulated Depreciation - Office 158 250

Equipment
7. Accounts Payable 201 4500

8. Unearned Service Revenue 209 1500

9. Salaries Payable 212 2000

10. Utilities Payable 214 150


11. T. Masasi, capital 301 21750
12. Service Revenue 400 11400
13. Supplies Expense 631 1400
14. Depreciation Expense 711 250
15. Insurance Expense 722 250
16. Salaries Expense 726 6000
17. Rent Expense 729 1000
18. Utilities Expense 732 150
Total 41,550 41,550
SOLUTION TO P3-2A
NEOSHO RIVER RESORT
General Journal
For the Month of August 2010
J1
Date Account Titles and Explanation Debit Credit
Aug. Insurance Expense 1,200
31 Prepaid Insurance 1,200
(to record expired insurance, $ 400 X
3)
Aug. Supplies Expense 2,700
31 Supplies 2,700
(to record supplies used, $ 3,300-
600)
Aug. Depreciation Expense - Cottages 1,500
31 Depreciation Expense - Furniture 600 1,500
Accumulated Depreciation - Cottage 600
Accumulated Depreciation - Furniture
(to record depreciation for 3 months,
(6000/12X3)+(2400/12X3))
Aug. Unearned Rent Revenue 4,100
31 Rent Revenue 4,100
(to record revenue for services
provided)
Aug. Salaries Expense 400
31 Salaries Payable 400
(to record unpaid salaries)
Aug. Accounts Receivable 1,000
31 Rent Revenue 1,000
(to record revenue for services
provided)
Aug. Interest Expense 600
31 Interest Payable 600
(to record interest expense on
mortgage, .09X80000/12X1)
Cash (O) No. 101
Date Explanation Ref. Debit Credit Balance
Aug. Balance 19,600 19,600
31

Accounts Receivable (N) No. 112


Date Explanation Ref. Debit Credit Balance
Aug. Adjusting J1 1,000 1,000
31

Supplies (O) No. 126


Date Explanation Ref. Debit Credit Balance
Aug. Balance 3,300 3,300
31
Aug. Adjusting J1 2,700 600
31

Prepaid Insurances (O) No. 130


Date Explanation Ref. Debit Credit Balance
Aug. Balance 6,000 6,000
31
Aug. Adjusting J1 1,200 4,800
31

Land (O) No. 140


Date Explanation Ref. Debit Credit Balance
Aug. Balance 25,000 25,000
31

Cottages (O) No. 143


Date Explanation Ref. Debit Credit Balance
Aug. Balance 1,25,000 1,25,000
31

Accumulated Depreciation - Cottage (N) No. 144


Date Explanation Ref. Debit Credit Balance
Aug. Adjusting J1 1,500 1,500
31

Furniture (O) No. 149


Date Explanation Ref. Debit Credit Balance
Aug. Balance 26,000 26,000
31

Accumulated Depreciation - Furniture (N) No. 150


Date Explanation Ref. Debit Credit Balance
Aug. Adjusting J1 600 600
31

Accounts Payable (O) No. 201


Date Explanation Ref. Debit Credit Balance
Aug. Balance 6,500 6,500
31

Unearned Rent Revenue (O) No. 209


Date Explanation Ref. Debit Credit Balance
Aug. Balance 7,400 7,400
31
Aug. Adjusting J1 4,100 3,300
31

Salaries Payable (N) No. 212


Date Explanation Ref. Debit Credit Balance
Aug. Adjusting J1 400 400
31

Interest Payable (N) No. 230


Date Explanation Ref. Debit Credit Balance
Aug. Adjusting J1 600 600
31

Mortgage payable (O) No. 275


Date Explanation Ref. Debit Credit Balance
Aug. Balance 80,000 80,000
31

P. Harder, Capital (O) No. 301


Date Explanation Ref. Debit Credit Balance
Aug. Balance 1,00,000 1,00,000
31

P. Harder, Drawing (O) No. 306


Date Explanation Ref. Debit Credit Balance
Aug. Balance 5,000 5,000
31

Rent Revenue (O) No. 429


Date Explanation Ref. Debit Credit Balance
Aug. Balance 80,000 80,000
31
Aug. Adjusting J1 4,100 84,100
31
Aug. Adjusting J1 1,000 85,100
31

Depreciation Expense - Cottages (N) No. 620


Date Explanation Ref. Debit Credit Balance
Aug. Adjusting J1 1,500 1,500
31

Depreciation Expense - Furniture (N) No. 621


Date Explanation Ref. Debit Credit Balance
Aug. Adjusting J1 600 600
31

Repair Expense (O) No. 622


Date Explanation Ref. Debit Credit Balance
Aug. Balance 3,600 3,600
31

Supplies Expense (N) No. 631


Date Explanation Ref. Debit Credit Balance
Aug. Adjusting J1 2,700 2,700
31

Interest Expense (N) No. 718


Date Explanation Ref. Debit Credit Balance
Aug. Adjusting J1 600 600
31

Insurance Expense (N) No. 722


Date Explanation Ref. Debit Credit Balance
Aug. Adjusting J1 1,200 1,200
31

Salaries Expense (O) No. 726


Date Explanation Ref. Debit Credit Balance
Aug. Balance 51,000 51,000
31
Aug. Adjusting J1 400 51,400
31

Utilities Expense (O) No. 732


Date Explanation Ref. Debit Credit Balance
Aug. Balance 9,400 9,400
31
NEOSHO RIVER RESORT
Adjusted Trial Balance
August 31, 2010

Seri Accounts Title No. Debit Credit


al
1. Cash 101 19,600

2. Accounts Receivable 112 1,000

3. Supplies 126 600

4. Prepaid Insurance 130 4,800

5. Land 140 25,000

6. Cottages 143 1,25,000

7. Accumulated Depreciation - Cottage 144 1,500

8. Furniture 149 26,000

9. Accumulated Depreciation - 150 600


Furniture
10. Accounts Payable 201 6,500
11. Unearned Rent Revenue 209 3,300
12. Salaries Payable 212 400
13. Interest Payable 230 600
14. Mortgage Payable 275 80,000
15. P. Harder, Capital 301 1,00,000
16. P. Harder, Drawing 306 5,000
17. Rent Revenue 429 85,100
18. Depreciation Expense - Cottages 620 1,500
19. Depreciation Expense - Furniture 621 600
20. Repair Expense 622 3,600
21. Supplies Expense 631 2,700
22. Interest Expense 718 600
23. Insurance Expense 722 1200
24. Salaries Expense 726 51,400
25. Utilities Expense 732 9,400
Total 2,78,00 2,78,00
0 0