Name: Muhammad

Hasnain Shakir

PRINCIPLES OF
Enrolment no: 01-
111192-145
Section: BBA4 -

ACCOUNTING 2A

ASSIGNMENT # 1
 Adjusted Trial Balances:

Serial numbers Account name Debit Credit

1 Cash 4000$
2 Merchandise inventory 139,500$
3 Supplies 1700$
4 Prepaid insurance 400$
5 Store equipment 26000$
6 Accumulated 17,700$
depreciation, store
equipment
7 Accounts payable 50,000$
8 Employees income tax 3000$
payable
9 Payroll taxes and 1500$
employees withholding
payable
10 Unearned service 10200$
contracts
11 Capital 44,100$
12 Drawing 60,000$
13 Sales 453,000$
14 Service contract 60,800$
income
15 Purchases 280,000$
16 Purchase discounts 3800$
17 Freight in. 3900$
18 Salary expense. 82000$
19 Payroll tax expanse 8000$
20 Rent expanse 20000$
21 Miscellaneous expanse 3000$
22 Depreciation expanse 5200$
23 Salaries payable 2000$
24 Insurance expanse 600$
25 Supplies inventory 300$
expanse
26 Merchandise inventory 11500$
expanse
TOTAL = 646,100$ 646,100$
 Adjusted entries:

Serial no. Date Description Debit Credit

31st December Merchandise 11,500$
inventory expanse
1 a/c
11.500$
To merchandise
inventory a/c
31st December Supplies inventory 300$
2 expanse a/c
300$
To supplies a/c
31st December Insurance 600$
expanse a/c
3
To prepaid 600$
insurance a/c
31st December Salaries expanse 2000$
a/c
4
To salaries 2000$
payable a/c
31st December Depreciation 5200$
expanse a/c
5
To accumulated 5200$
depreciation a/c
31st December Unearned service 4800$
contracts a/c
6
To service 4800$
contract income
a/c