Filetype Excel XLSX | Posted on 08 Aug 2022 | 4 years ago
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422x Filetype XLSX File size 0.18 MB Source: spa-febui.com
Sheet 1: COVER
| MOJAKOE UTS #1 | ||||||||||||||||||||
| Answer: Problem 1 | IN $ | |||||||||||||||||||
| a.) Journalize the transactions | ||||||||||||||||||||
| Vera Ernst General Journal For the Month Ended April 30, 2020 |
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| Date | Account Name | Ref | Dr | Cr | ||||||||||||||||
| Apr-01 | Cash | 101 | 20,000 | |||||||||||||||||
| Owner's Capital | 301 | 20,000 | ||||||||||||||||||
| Apr-01 | <no entry> | |||||||||||||||||||
| Apr-02 | Rent Expense | 729 | 1,500 | |||||||||||||||||
| Cash | 101 | 1,500 | ||||||||||||||||||
| Apr-03 | Supplies | 126 | 4,000 | |||||||||||||||||
| Account Payable | 201 | 4,000 | ||||||||||||||||||
| Apr-10 | Account Receivable | 112 | 5,100 | |||||||||||||||||
| Service Revenue | 400 | 5,100 | ||||||||||||||||||
| Apr-11 | Cash | 101 | 1,000 | |||||||||||||||||
| Unearned Service Revenue | 400 | 1,000 | ||||||||||||||||||
| Apr-20 | Cash | 101 | 2,100 | |||||||||||||||||
| Service Revenue | 400 | 2,100 | ||||||||||||||||||
| Apr-30 | Salaries and Wages Expense | 726 | 2,800 | |||||||||||||||||
| Cash | 101 | 2,800 | ||||||||||||||||||
| Apr-30 | Account Payable | 201 | 2,600 | |||||||||||||||||
| Cash | 101 | 2,600 | ||||||||||||||||||
| b.) Post to the ledger accounts | ||||||||||||||||||||
| Cash | Supplies | Unearned Service Revenue | ||||||||||||||||||
| Date | Explanation | Dr | Cr | Balance | Date | Explanation | Dr | Cr | Balance | Date | Explanation | Dr | Cr | Balance | ||||||
| Apr-01 | Investment | 20,000 | 20,000 | Apr-03 | Purchase of dental supplies | 4,000 | 4,000 | Apr-11 | Unearned service revenue | 1,000 | 1,000 | |||||||||
| Apr-02 | Payment of office rent | 1,500 | 18,500 | |||||||||||||||||
| Apr-11 | Unearned service revenue | 1,000 | 19,500 | Account Receivable | ||||||||||||||||
| Apr-20 | Service revenue | 2,100 | 21,600 | Date | Explanation | Dr | Cr | Balance | ||||||||||||
| Apr-30 | Payment of salaries and wages | 2,800 | 18,800 | Apr-10 | Dental service | 5,100 | 5,100 | |||||||||||||
| Apr-30 | Payment on account | 2,600 | 16,200 | |||||||||||||||||
| Owner's Capital | ||||||||||||||||||||
| Account Payable | Date | Explanation | Dr | Cr | Balance | |||||||||||||||
| Date | Explanation | Dr | Cr | Balance | Apr-01 | Investment | 20,000 | 20,000 | ||||||||||||
| Apr-03 | Purchase of Dental Supplies | 4,000 | 4,000 | |||||||||||||||||
| Apr-30 | Payment on account | 2,600 | 1,400 | Salaries and Wages Expense | ||||||||||||||||
| Date | Explanation | Dr | Cr | Balance | ||||||||||||||||
| Service Revenue | Apr-30 | Payment of salaries and wages | 2,800 | 2,800 | ||||||||||||||||
| Date | Explanation | Dr | Cr | Balance | ||||||||||||||||
| Apr-10 | Service revenue | 5,100 | 5,100 | Rent Expense | ||||||||||||||||
| Apr-20 | Service revenue | 2,100 | 7,200 | Date | Explanation | Dr | Cr | Balance | ||||||||||||
| Apr-02 | Payment of office rent | 1,500 | 1,500 | |||||||||||||||||
| c.) Prepare a trial balance on April 30,2020 | ||||||||||||||||||||
| Vera Ernst Trial Balance For the Month Ended April 30, 2020 |
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| Account Name | Dr | Cr | ||||||||||||||||||
| Cash | 16,200 | |||||||||||||||||||
| Account Receivable | 5,100 | |||||||||||||||||||
| Supplies | 4,000 | |||||||||||||||||||
| Account Payable | 1,400 | |||||||||||||||||||
| Unearned Service Revenue | 1,000 | |||||||||||||||||||
| Owner's Capital | 20,000 | |||||||||||||||||||
| Service Revenue | 7,200 | |||||||||||||||||||
| Salaries and Wages Expense | 2,800 | |||||||||||||||||||
| Rent Expense | 1,500 | |||||||||||||||||||
| Total | 29,600 | 29,600 | ||||||||||||||||||
| Answer Problem 2 | |||||||||||
| A) | Dickens Company | ||||||||||
| Adjusting Entries | |||||||||||
| For The Month Ended October 31, 2019 | |||||||||||
| Date | Account Name | Dr | Cr | ||||||||
| 31-Oct-19 | Insurance Expense | 3,000 | |||||||||
| Prepaid Insurance | 3,000 | ||||||||||
| 31-Oct-19 | Supplies Expense | 1,605 | |||||||||
| Supplies | 1,605 | ||||||||||
| 31-Oct-19 | Depreciation Expense-Building | 6,000 | |||||||||
| Accumulated Depreciation Building | 6,000 | ||||||||||
| 31-Oct-19 | Depreciation Expense-Equipment | 3,000 | |||||||||
| Accumulated Depreciation equipment | 3,000 | ||||||||||
| 31-Oct-19 | Unearned Rent | 3,375 | |||||||||
| Fees Earned | 3,375 | ||||||||||
| 31-Oct-19 | Salaries and Wages Expense | 800 | |||||||||
| Salaries and Wages Payable | 800 | ||||||||||
| 31-Oct-19 | Account Receivable | 18,600 | |||||||||
| Fees Earned | 18,600 | ||||||||||
| Total | 36,380 | 36,380 | |||||||||
| B) | Dickens Company | ||||||||||
| Adjusted Trial Balance | |||||||||||
| For The Ended of The Year October 31, 2019 | |||||||||||
| Account Name | Unadjusted Balance | Adjustments | Adjusted Balance | Income Statement | Balance Sheet | ||||||
| Dr | Cr | Dr | Cr | Dr | Cr | Dr | Cr | Dr | Cr | ||
| Cash | 7,500 | 7,500 | 7,500 | ||||||||
| Account Receivable | 38,400 | 18,600 | 57,000 | 57,000 | |||||||
| Prepaid Insurance | 7,200 | 3,000 | 4,200 | 4,200 | |||||||
| Supplies | 1,980 | 1,605 | 375 | 375 | |||||||
| Land | 112,500 | 112,500 | 112,500 | ||||||||
| Building | 150,250 | 150,250 | 150,250 | ||||||||
| Accumulated Depreciation Building | 87,550 | 6,000 | 93,550 | 93,550 | |||||||
| Equipment | 135,300 | 135,300 | 135,300 | ||||||||
| Accumulated Depreciation Equipment | 97,950 | 3,000 | 100,950 | 100,950 | |||||||
| Accounts Payable | 12,150 | 12,150 | 12,150 | ||||||||
| Unearned Rent | 6,750 | 3,375 | 3,375 | 3,375 | |||||||
| Owner's Capital | 206,000 | 206,000 | 206,000 | ||||||||
| Fees Earned | 324,600 | 21,975 | 346,575 | 346,575 | |||||||
| Salaries and Wages Expense | 193,370 | 800 | 194,170 | 194,170 | |||||||
| Utilities Expense | 42,375 | 42,375 | 42,375 | ||||||||
| Advertising Expense | 22,800 | 22,800 | 22,800 | ||||||||
| Repairs Expense | 17,250 | 17,250 | 17,250 | ||||||||
| Misc Expense | 6,075 | 6,075 | 6,075 | ||||||||
| Total | 735,000 | 735,000 | |||||||||
| Insurance Expense | 3,000 | 3,000 | 3,000 | ||||||||
| Supplies Expense | 1,605 | 1,605 | 1,605 | ||||||||
| Depreciation Expense Building | 6,000 | 6,000 | 6,000 | ||||||||
| Depreciation Expense Equipment | 3,000 | 3,000 | 3,000 | ||||||||
| Salaries and Wages Payable | 800 | 800 | 800 | ||||||||
| Total | 36,380 | 36,380 | 763,400 | 763,400 | |||||||
| Balance | 296,275 | 346,575 | 467,125 | 416,825 | |||||||
| NET INCOME | 50,300 | 50,300 | |||||||||
| TOTAL | 346,575 | 346,575 | 467,125 | 467,125 | |||||||
| C) | Dickens Company | ||||||||||
| Income Statement | |||||||||||
| For The Month Ended October 31,2019 | |||||||||||
| Account Name | |||||||||||
| Revenue : | |||||||||||
| Fees Earned | 346,575 | ||||||||||
| Expense : | |||||||||||
| Salaries and Wages Expense | 194,170 | ||||||||||
| Utilities Expense | 42,375 | ||||||||||
| Advertising Expense | 22,800 | ||||||||||
| Repairs Expense | 17,250 | ||||||||||
| Misc Expense | 6,075 | ||||||||||
| Insurance Expense | 3,000 | ||||||||||
| Supplies Expense | 1,605 | ||||||||||
| Depreciation Expense Building | 6,000 | ||||||||||
| Depreciation Expense Equipment | 3,000 | ||||||||||
| Total Expense | 296,275 | ||||||||||
| Net Income | 50,300 | ||||||||||
| Dickens Company | |||||||||||
| Owner's Equity Statement | |||||||||||
| For The Month Ended October, 31 2019 | |||||||||||
| Account Name | |||||||||||
| Owner's Equity at October 31, 2019 | 206,000 | ||||||||||
| Add: Net Income | 50,300 | ||||||||||
| Owner's Equity at October, 31 2019 | 256,300 | ||||||||||
| Dickens Company | |||||||||||
| Statement of Financial Position | |||||||||||
| October, 31 2019 | |||||||||||
| Assets | Liabilities | ||||||||||
| Current Assets : | Current Liabilities : | ||||||||||
| Cash | 7,500 | Accounts Payable | 12,150 | ||||||||
| Account Receivable | 57,000 | Unearned Rent | 3,375 | ||||||||
| Prepaid Insurance | 4,200 | Salaries and Wages Payable | 800 | ||||||||
| Supplies | 375 | Total Current Liabilities | 16,325 | ||||||||
| Total Current Assets | 69,075 | Total Liabilities | 16,325 | ||||||||
| Non-Current Assets : | Owner's Equity | ||||||||||
| Land | 112,500 | Owner's Equity at October 31, 2019 | 256,300 | ||||||||
| Building | 150,250 | ||||||||||
| Accumulated Depreciation Building | 93,550 | ||||||||||
| Equipment | 135,300 | ||||||||||
| Accumulated Depreciation Equipment | 100,950 | ||||||||||
| Total Property, Plant, and Equipment | 203,550 | ||||||||||
| Total Assets | 272,625 | Total Liabilities and Owner's Equity | 272,625 | ||||||||
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