P. 1
Shelton

Shelton

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Published by Ali Husanen
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Published by: Ali Husanen on Sep 28, 2013
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09/28/2013

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Part 1

a. Cash 101 105,000 Office Equipment 163 Drafting Equipment 164

6,000 45,000 S. Shelton, Capital 301 156,000

Owner invested cash and equipment.

b.

Land

172 54,000 Cash 101 5,400 Note Payable 250

48,600

Purchased land with cash and note payable.

c.

Building
Purchased building.

170

75,000 Cash 75,000 101

d.

Prepaid Insurance Cash 101

108 6,000

6,000

Purchased 18-month insurance policy.

e.

Cash

101 5,700 Engineering Fees Earned

402

5,700

Collected cash for completed work.

f.

Drafting Equipment Cash 101 Note Payable

164 10,500 250

22,500 12,000

Purchased equipment with cash and note payable.

g.

Accounts Receivable 106 Engineering Fees Earned

12,000 402

12,000

18.250 i. Accounts Receivable 106 Engineering Fees Earned Billed client for completed work. h.000 . Office Equipment 163 Accounts Payable201 Purchased equipment on credit.250 2.000 402 18. 2.Completed services for client.

Wages Expense 601 1. S. Cash 101 7. m. 101 675 Paid for o.250 Cash 101 Paid amount due on account.200 Incurred equipment rental expense.250 n.200 Collected cash on account.500 Cash 101 1. Equipment Rental Expense Accounts Payable201 602 1. l.500 Paid assistant’s wages.200 Accounts Receivable 106 7. Shelton. Repairs Expense 604 675 Cash repair of equipment.200 1. Accounts Payable 201 2. k. 2. Withdrawals .j.

000 Cash 3.302 9. 9. Advertising Expense 603 3.360 Cash withdrawn for personal use.360 Cash 101 p.000 Paid for advertising expense. Wages Expense 601 1.500 q. 101 .500 Cash Paid assistant’s wages. 101 1.

800 S.600 18.250 1. 250 Balance 48.575 7. 201 Balance 2.600 12. 106 Balance 12.250 Debit Credit 2.000 99.000 30.400 75.800 21.700 35. 302 Balance 9.360 1.200 1. Withdrawals Date PR (o) Debit 9.700 10.000 5.500 Debit 105. Capital Date PR (a) Debit Credit 156.700 Prepaid Insurance Date PR (d) Debit 6.500 3.715 2.000 6.000 Notes Payable Date PR (b) (f) Debit Credit 48.Part 2 Cash Date PR (a) (b) (c) (d) (e) (f) (k) (l) (m) (n) (o) (p) (q) 7.600 24.500 2.000 Credit No.000 (e) (g) (i) .250 675 9.000 18. Shelton. Shelton.600 Accounts Payable Date PR (h) (j) (m) 2.600 24.500 17.600 60. 301 Balance 156.200 No.000 19.000 7.700 12.360 Engineering Fees Earned Date PR Debit Credit 5. 101 Balance 105.200 Accounts Receivable Date PR (g) (i) (k) Debit 12.000 No.000 18.450 1.000 No.000 22.300 13.250 16.200 Credit No.215 5.360 Credit No.000 5. 108 Balance 6. 402 Balance 5.000 Credit No.000 No.250 3.715 S.700 17.

000 Credit No.500 Equipment Rental Expense Date PR (j) Debit 1. 602 Balance 1. 163 Balance 6.250 Wages Expense Date PR (l) (p) Debit 1.000 Drafting Equipment Date PR (a) (f) Debit 45.200 Building Date PR (c) Debit 75.000 Repairs Expense Date PR (n) Debit 675 Credit No. 604 Balance 675 Part 3 SHELTON ENGINEERING . 164 Balance 45.000 Credit No.500 3. 172 Balance 54.000 67.250 Credit No. 170 Balance 75.Office Equipment Date PR (a) (h) Debit 6.000 Advertising Expense Date PR (q) Debit 3.000 Credit No.000 22.000 8. 601 Balance 1. 603 Balance 3.500 1.500 Credit No.500 Credit No.000 Land Date PR (b) Debit 54.000 2.200 Credit No.

000 Accounts payable $ Notes payable 60. Shelton.000 Office equipment 8.800 Prepaid insurance 6.000 Land 54.200 Credit .000 Repairs expense 675 Totals $253. Capital 156.500 $253.500 Building 75.250 Drafting equipment 67.000 Equipment rental expense 1.700 Wages expense 3.200 Advertising expense 3.500 9. Shelton.000 S.360 1. Withdrawals Engineering fees earned 35.715 Accounts receivable 22.600 S.Trial Balance June 30 Debit Cash $ 2.

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