Flagstaff Service Co. Gen'l.

Ledger

Before Closing entries are posted
Cash Date Explanation Ref. 12/31 Balance Debit Credit 101 Balance 38,175 Dr. Agee Capital Date Explanation Ref. 12/31 Balance

Accounts Receivable Date Explanation Ref. 12/31 Balance

Debit

Credit

102 Balance 112,500 Dr.

Agee Drawing Date Explanation Ref. 12/31 Balance

Prepaid Insurance Date Explanation Ref. 12/31 Balance

Debit

Credit

103 Balance 3,440 Dr.

Income Summary Date Explanation Ref.

Store Supplies Date Explanation Ref. 12/31 Balance

Debit

Credit

104 Balance 1,300 Dr.

Fees Earned Date Explanation Ref. 12/31 Balance

Office Supplies Date Explanation Ref. 12/31 Balance

Debit

Credit

110 Balance 750 Dr.

Salaries Expense Date Explanation Ref. 12/31 Balance

Store Equipment Date Explanation Ref.

Debit

Credit

111 Balance

Advertising Expense Date Explanation Ref.

12/31

Balance

132,000 Dr.

12/31 Balance

Accum. Deprec. - Store Equipment Date Explanation Ref. Debit 12/31 Balance

Credit

112 Balance 27,800 Cr.

Depreciation Expense-Store Eq. Date Explanation Ref. 12/31 Balance

Office Equipment Date Explanation Ref. 12/31 Balance

Debit

Credit

113 Balance 50,000 Dr.

Supplies Expense Date Explanation Ref. 12/31 Balance

Accum. Deprec. - Office Equipment Date Explanation Ref. Debit 12/31 Balance

Credit

114 Balance 14,000 Cr.

Rent Expense Date Explanation Ref. 12/31 Balance

Accounts Payable Date Explanation Ref. 12/31 Balance

Debit

Credit

201 Balance 66,700 Cr.

Insurance Expense Date Explanation Ref. 12/31 Balance

Salaries Payable Date Explanation Ref. 12/31 Balance

Debit

Credit

202 Balance 4,900 Cr.

Depreciation Expense-Office Eq. Date Explanation Ref. 12/31 Balance

Unearned Rent Income Date Explanation Ref. 12/31 Balance

Debit

Credit

203 Balance 400 Cr.

Miscellaneous Expense Date Explanation Ref. 12/31 Balance

Notes Payable Date Explanation Ref. 12/31 Balance

Debit

Credit

210 Balance 60,000 Cr.

Debit

Credit

301 Balance 75,150 Cr.

Debit

Credit

302 Balance 40,000 Dr.

Debit

Credit

303 Balance

Debit

Credit

401 Balance 282,525 Cr.

Debit

Credit

501 Balance 80,150 Dr.

Debit

Credit

502 Balance

25,000 Dr.

Expense-Store Eq. Debit

Credit

503 Balance 7,500 Dr.

Debit

Credit

504 Balance 2,950 Dr.

Debit

Credit

505 Balance 26,000 Dr.

Debit

Credit

506 Balance 6,260 Dr.

Expense-Office Eq. Debit

Credit

507 Balance 3,800 Dr.

Debit

Credit

508 Balance 1,650 Dr.

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