(Minggu 1 / Sesi 4)
1. Transactions
1) Issued ordinary shares in exchange for $20,000 cash on June 1.
2) Purchased laundry equipment for $5,000 paying $3,000 in cash and the remainder due in 30 days.
3) Purchased laundry supplies for $1,200 cash.
4) Received a bill from College News for $300 for advertising in the campus newspaper.
5) Cash receipts from customers for cleaning and laundry amounted to $1,500.
6) Paid salaries of $200 to student workers.
7) Billed the Lion Soccer Team $200 for cleaning and laundry services.
8) Paid $300 to College News for advertising that was previously billed in Transaction 4.
9) Paid dividends of $700.
10) Incurred utility expenses for month on account, $150.
Answer :
Assets
Account
Transaction Cash Receivable Supplies Equipment
Issued Ordinary Shares For
Cash $ 20,000
Laundry Equipment $ (3,000) $ 5,000
Laundry Supplies $ (1,200) $ 1,200
Received a Bill
Cash Receipts From Custome $ 1,500
Salaries Exp $ (200)
Services Revenue $ 200
Advertising Expense $ (300)
Dividends $ (700)
Utility Expense $ (150)
Total $ 15,950 $ 200 $ 1,200 $ 5,000
$ 22,350
Answer :
Advertising Company Jacky Co
Income Statement
Month Of September
Revenues
Service Revenue -------------------------------------------------------
Expenses
Supplies Expenses ----------------------------------------- ¥ 3,500
Utilities Expenses ----------------------------------------- ¥ 700
Sal & Wag Exp ----------------------------------------- ¥ 9,000
Rent Expense ----------------------------------------- ¥ 2,000
TOTAL Expenses -----------------------------------------------------------
Net Income ----------------------------------------------------------------------------
Liabilites
Account Payable -------------------------------------------------------
TOTAL Equity and Liabilities ----------------------------------------------
3. Journalize the following business transactions in general journal form. Identify each transaction by num
Answer:
GENERAL JOURNAL
4. The transactions of Michael Information Service are recorded in the general journal below.
You are to post the journal entries to the accounts in the general ledger. After all entries have been posted, you are to pre
ANSWER :
MICHAEL INFORMATION S
GENERAL LEDGER
SEPTEMBER 2014
Cash
DATE DESCRIPTION REF DEBIT KREDIT
1-Sep J1 35,000
4-Sep J1 10,000
8-Sep J1 1,000
15-Sep J1 400
18-Sep J1 2,500
20-Sep J1 500
30-Sep J1 1,800
Account Receivable
DATE DESCRIPTION REF DEBIT KREDIT
30-Sep J1 2,000
Prepaid Insurance
DATE DESCRIPTION REFF DEBIT KREDIT
15-Sep J1 400
Equipment
DATE DESCRIPTION REFF DEBIT KREDIT
4-Sep J1 30,000
Account Payable
DATE DESCRIPTION REFF DEBIT CREDIT
25-Sep J1 600
5. The trial balance of Drysdale Company shown below does not balance.
DALE COMPANY
Trial Balance
June 30, 2014
———————————————————————————————————————————
Debit Credit
Cash £2,600
Accounts Receivable £7,600
Supplies £600
Equipment £8,300
Accounts Payable £9,766
Share Capital-Ordinary £1,952
Dividends £1,500
Service Revenue £15,200
Salaries and Wages Expense £3,800
Maintenance and Repairs Expense £1,600
Totals £26,000 £26,918
ANSWER :
Drysdale Company
Trial Balance
30-Jun-14
Cash £2,060
Accounts Receivable £8,140
Supplies £600
Equipment £9,000
Accounts Payable £9,289
Share Capital-Ordinary £1,952
Dividends £2,100
Service Revenue £15,479
Salaries and Wages Expense £3,920
Maintenance and Repairs Expense £900
Totals 26,720 26,720
e in 30 days.
Liabilities Equity
Account Share Retained Earnings
Payable Capital Revenue Expense Dividends
$ 20,000
$ 2,000
$ 300 $ (300)
$ 1,500
$ (200)
$ 200
$ (300)
$ (700)
$ (150)
$ 2,000 $ 20,000 $ 1,700 $ -650 $ -700
$ 22,350
¥ 15,200
¥ 8,800
¥ 12,000
¥ 8,800
¥ 20,800
¥ 6,000
¥ 14,800
¥ 27,000
¥ 2,800
¥ 14,000
¥ 8,000
¥ 51,800
¥ 44,800
¥ 7,000
¥ 51,800
s billed in transaction 4.
nal below.
en posted, you are to prepare a trial balance on the form provided.
Utility Expense
DATE DESCRIPTION REFF DEBIT CREDIT
25-Sep J1 600
ed to Accounts Receivable ₤710.
BALANCE
20,000
No. 300
BALANCE
35,000
No. 311
BALANCE
1,800
No. 400
BALANCE
2,500
4,500
No. 511
BALANCE
500
No. 512
BALANCE
1,000
No. 513
BALANCE
600