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NAME: MUHAMMAD USMAN ZAFAR

I.D: 17278.
SEAT NO. 721
PROGRAM: MBA (W)
COURSE: ACCOUNTING FOR
MANAGER
Q: 4.6 (A).

ALPINE EXPEDITIONS
UNADJUSTED TRIAL BALANCE
DECEMBER 31, 2011
PARTICULAR DEBIT CREDIT
Cash 13,900
Account receivable 78,000
Unexpired insurance 18,000
Prepaid advertising 2,200
Climbing supplies 4,900
Climbing equipment 57,600
Accumulated depreciation: climbing equipment 38,400
Account payable 1,250
Notes payable 10,000
Interest payable 150
Income taxes payable 1,200
Unearned client revenue 9,600
Capital stock 17,000
Retained earnings 62,400
Client revenue earned 188,000
Advertising expense 7,400
Insurance expense 33,000
Rents expense 16,500
Climbing supplies expense 8,400
Repairs expense 4,800
Depreciation expense: climbing equipment 13,200
Salaries expense 57,200
Interest expense 150
Income taxes expense 12,750
TOTAL AMOUNT 328,000 328,000
SOLUTION: 1

ALPINE EXPEDITIONS
ADJUSTING ENTRIES
As on December 31, 2011
DATE PARTICULAR P DEBIT CREDIT
R
December,31 Fees receivable 6,400
Fees earned 6,400
December,31 Unearned Client Revenue 6,600
Client Revenue Earned 6.600
December,31 Insurance Expense 3,000
Unexpired Insurance 3,000
December,31 Advertising Expense 1,100
Prepaid Advertising 1,100
December,31 Climbing Supplies Expense 2,900
Climbing Supplies 2,900
December,31 Depreciation Expense (climbing equipment) 1,200
Allowance For Depreciation 1,200
December,31 Interest Expense ( 10,000*9%/12) 75
Interest Payable 75
December,31 Salaries expense 3,100
Salaries payable 3,100
December,31 Income Taxes Expense 1,250
Income Taxes Payable 1,250
SOLUTION: 2

ALPINE EXPEDITIONS
ADJUSTED TRIAL BALANCE
AS ON DECEMBER 31, 2011

PARTICULAR DEBIT CREDIT


Cash 13,900
Account receivable 78,000
Unexpired insurance 15,000
Prepaid advertising 1,100
Climbing supplies 2,000
Climbing equipment 57,600
Accumulated depreciation: climbing equipment 39,600
Account payable 1,250
Notes payable 10,000
Interest payable 225
Income taxes payable 2,450
Unearned client revenue 3,000
Capital stock 17,000
Retained earnings 62,400
Client revenue earned 194,600
Advertising expense 8,500
Insurance expense 36,000
Rents expense 16,500
Climbing supplies expense 11,300
Repairs expense 4,800
Depreciation expense: climbing equipment 14,400
Salaries expense 60,300
Interest expense 225
Income taxes expense 14,000
Fees receivable 6,400
Fees earned 6,400
Salaries payable 3.100
TOTAL AMOUNT 340,025 340,025