Marshall Company | ||||
Journal entries | ||||
Date | Account | Debit | Credit | Calculation |
1-Apr | Cash | $ 20,000 | ||
Common Stock | $ 20,000 | |||
1-Apr | Rent expense | $ 1,000 | ||
Cash | $ 1,000 | |||
1-Apr | Prepaid Insurance | $ 1,440 | ||
Cash | $ 1,440 | |||
4-Apr | Cash | $ 2,000 | ||
Service Revenue | $ 2,000 | |||
7-Apr | Supplies | $ 700 | ||
Accounts Payable | $ 700 | |||
14-Apr | Salary expense | $ 500 | ||
Cash | $ 500 | |||
24-Apr | Accounts Receivable | $ 1,900 | ||
Service Revenue | $ 1,900 | |||
28-Apr | Salary expense | $ 500 | ||
Cash | $ 500 | |||
30-Apr | Utilities expense | $ 200 | ||
Cash | $ 200 | |||
30-Apr | Dividends | $ 800 | ||
Cash | $ 800 | |||
Adjusting entries | ||||
30-Apr | Salary expense | $ 100 | ||
Salary Payable | $ 100 | |||
30-Apr | Insurance expense | $ 120 | ||
Prepaid Insurance | $ 120 | |||
30-Apr | Supplies expense | $ 130 | =700-570 | |
Supplies | $ 130 | |||
Closing entries | ||||
30-Apr | Service Revenue | $ 3,900 | ||
Income Summary | $ 3,900 | |||
30-Apr | Income Summary | $ 2,550 | ||
Salary expense | $ 1,100 | |||
Rent expense | $ 1,000 | |||
Supplies expense | $ 130 | |||
Utilities expense | $ 200 | |||
Insurance expense | $ 120 | |||
30-Apr | Income Summary | $ 1,350 | ||
Retained Earnings | $ 1,350 | |||
30-Apr | Retained Earnings | $ 800 | ||
Dividends | $ 800 |
accounting cycle MARSHALL COMPANY On April 1, Ralph Marshall opened Marshall Company. The company provides services...
accounting cycle help! MARSHALL COMPANY On April 1, Ralph Marshall opened Marshall Company. The company provides services to a variety of clients. The company was organized as a corporation and has a monthly accounting period. The following transactions occurred during April. Apr. 1 Аpг. 1 Apr. 1 Marshall invested $20,000 cash in the company in exchange for its common stock The company paid $1,000 cash to rent office space for April. The company paid $1,440 cash for the premium on...
complete general ledger PELICAN COMPANY On April 1, John Thompson opened Pelican Company. The company provides services to a variety of customers. The company was organized as a sole proprietorship and has a monthly accounting period. The following transactions occurred during April. Thompson invested $37,000 cash in the company. The company paid $20,000 cash for equipment. The company paid $2,400 cash for the premium on a 12-month insurance policy Coverage begins on April 1. The company paid $2,900 cash to...
Trial Balance April 30, 2016 Account Debit Credit $27,500 40,400 3,000 1,400 68,800 Cash Accounts receivable Prepaid insurance Supplies Equipment Accumulated depreciation, equipment Accounts paya Salaries payable Unearned service revenue Common stock Retained earnings Dividends Service revenue Salaries expense Insurance expense Depreciation expense, equipment Utilities expense Supplies expense Total $34,100 ble 3,100 2,700 50,000 50,600 9,500 13,900 3,800 $ 154,400 $ 154,400 More Info a. Insurance coverage stlremaining at April 30, $300 b. Supplies used during the month, $250 c....
The An accounting form that is used to record the increases and decreases in each financial statement item.accounts in the A group of accounts for a business.ledger of Seaside Furniture Company as of August 20Y5 are listed in alphabetical order as follows. All accounts have The normal balance of an account can be either a debit or a credit depending on whether increases in the account are recorded as debits or credits.normal balances. The balance of the cash account has...
Aptos Architects, Inc. Trial Balance April 30, 2018 Account Debit Credit Cash $ 30,100 Accounts receivable 18,500 3,200 Prepaid insurance Supplies 1,100 85,000 $ 43,800 Equipment Accumulated depreciation, equipment Accounts payable Salaries payable 3,600 Unearned service revenue 3,100 Common stock 75,000 Retained earnings 10,600 Dividends 2,800 Service revenue 8,400 Salaries expense 3,800 Insurance expense Depreciation expense, equipment Utilities expense Supplies expense $ 144,500 $ 144,500 Total a. Insurance coverage still remaining at April 30, $600 b. Supplies used during the...
Sheffield Company was organized on April 1, 2019. The company prepares quarterly financial statements. The adjusted trial balance amounts at June 30 are shown below. 400 Cash Accounts Receivable Prepaid Rent Supplies Equipment Dividends Salaries and Wages Expense Rent Expense Depreciation Expense Supplies Expense Utilities Expense Interest Expense Debit Credit $ 6,900 Accumulated Depreciation-Equipment $ 800 480 Notes Payable 4,200 600 Accounts Payable 900 800 Salaries and Wages Payable 12,100 Interest Payable 80 500 Unearned Rent Revenue 300 7,600 Common...
On April 1, Jiro Nozomi created a new travel agency, Adventure Travel. The following transactions occurred during the company’s first month. April 1 Nozomi invested $49,000 cash and computer equipment worth $35,000 in the company in exchange for common stock. 2 The company rented furnished office space by paying $2,800 cash for the first month’s (April) rent. 3 The company purchased $1,500 of office supplies for cash. 10 The company paid $3,000 cash for the premium on a 12-month insurance...
Print 7. The adjusted trial balance of Stone Sign Company follows: (Click the icon to view the adjusted trial balance.) Requirements 1. Assume Stone Sign Company has a January 31 year-end. Joumalize Stone's closing entries at January 31. 2. How much net income or net loss did Stone Sign Company earn for the year ended January 31? How can you tell? Requirement 1. Assume Stone Sign Company has a January 31 year-end. Journalize Stone's closing entries at January 31. (Record...
Problem 3-6A Applying the accounting cycle LO P1, P2, P3, P4, P5 On April 1, 2017, Jiro Nozomi created a new travel agency, Adventure Travel. The following transactions occurred during the company's first month. April 1 Nozomi invested $31,000 cash and computer equipment worth $30,000 in the company in exchange for common stock. 2 The company rented furnished office space by paying $2,200 cash for the first month's (April) rent 3 The company purchased $1,300 of office supplies for cash...
Print 6. Houston Veterinary Hospital completed the following worksheet as of December 31, 2018 (Click the icon to view the partial worksheet) Read the requirements Requirement 1. Complete the worksheet for Houston Veterinary Hospital. Complete the worksheet by preparing the Income Statement and Balance Sheet columns. Be sure to calculate the total debits and credits in each step. Houston Veterinary Hospital Worksheet December 31, 2018 Income Adjusted Trial Balance Balance Sheet Statement Account Names Debit Credit Debit Credit Debit Credit...