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# SE 10

Oakland Floor
Trial Balance
December 31 2012

account debit credit
cash 12000
Equipment 45000
Account payable 2000
other liablilities 18000
Oakland Capital 22000
Revenues 34000
Expenses 19000
Total 76000 76000

SE 11
Debit = 70,400
Credit = 9,200
To correct this first take the difference between the total debits and the total credits and divide it by 2.
(70,400-9,200)/2= 30,600. After getting the answer, identify it on the trial balance and make the
necessary corrections.

SE 12
Debit = 37,100
Credit = 39,800
First take the difference between the debits and credits then divide it by 9. (39,800-37,100)/9 = 300,
then identify the account with that amount and make the corrections necessary.

SE 15
Assets = liabilities + Ownwer’s Equity
1) Assets 390,000 (Debit) = Liabilities 260,000 (credit) + OE 130,000 (Credit)
2) Net income = revenues(credit) – expenses (debit) === 480,000 - 350,000 = 130,000
Net income represents a net credit

E 16
London Engineering
Journal entries

E 17
May 1 – received cash from both cash and OE increases
2- Purchased supplies for 500 on account both supplies and accounts payable accounts increase.
4- Paid for building cash decreases, and building account increases
6- Received cash for services, cash and service revenue increases
9- Pay 400 on amount owed both cash and accounts payable decreases
17- Service performs for 2500 on account, service revenue and accounts receivable increases.
23- got paid 1900 of the debt of a customer, cash increases, accounts receivable decreases
31- payed a total of 2000 for salary and rent both accounts increase.

2)
110 120 130
1) 75,000 4) 53,000 17) 2,500 23) 1900 2)500
6) 2,600 9) 400
23) 1,900 31) 2000
bal 24,100 bal 600 bal 500

140 210 310
4) 53,000 9) 400 2) 500 1) 75,000

bal 53,000 bal 100 bal 75,000
Date Entry DR CR
Jul 2 Utilities expense 400
- Cash 400

5 Equipment 2,100
- Accounts payable 2,100

10 Accounts receivable 2,000
- Service revenue 2,000

12 Cash 7,000
- Notes payable 7,000

19 Cash 29,000
- land 29,000

21 Supplies 800
- Cash 800

27 Account Payable 2,100
- Cash 2,100

410 510 520
6) 2,600 31) 900
31)
1,100
17) 2,500
bal 5,100 bal 900 bal 1,100

4)
Trial Balace
Account DR CR
Cash 24,100
Accounts R 600
supplies 500
Building 53,000
Accounts Payable

100
Ward capital

75,000
Service Revenue

5,100
Rent expenses 900

Salary expenses 1,100
Total 80,200 80,200

E 25
Atkins Moving Company
Trial Balance
Aug. 21, 2012

Account DR CR
cash 4000
Accounts R 8800
Supplies 300
Trucks 132000
Building 48,000
Accounts payable 4000
Note Payable 54,000
Atkins Capital 72,000
Atkins Drawing 5400
Service Revenue 80,000
supplies expense 400
Salary expense 7000
utilities expense 500
fuel expense 3000
Insurance expense 600
210000 210000