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ACC 113 Activity 1 Answer Key
ACC 113 Activity 1 Answer Key
1 Journal entries 13 39
2 T-accounts 15 45
3 Unadjusted TB 47
4 Adjustments 5 15
5 Adjusted TB 47
6 Income statement 22
7 Balance sheet 22
8 Closing entries 4 20
9 profit 5
10 Post-closing TB 22
11 Heading 5
289
ADJUSTING ENTRIES
AJE 2
250,000.00 1,000,000.00 250,000.00
AJE 3
Note payable Medical equipment Medical supplies
1,200,000.00 420,000.00 39,000.00
17,000.00
204,000.00 23,000.00
adjustments
CLOSING ENTRIES Insurance expense
Supplies expense
Service revenues 434,000.00 Dep expense - Med Bldg
Income summary 434,000.00 Dep expense - Med Equipment
Accum dep - Med Bldg
Income summary 220,666.67 Accum dep - Med Equipment
Salaries expense 124,000.00 Salaries payable
Repairs expense 23,000.00 Interest expense
Utilities expense 3,000.00 Interest payable
Insurance expense 1,666.67
Supplies expense 35,000.00 PROFIT
Dep expense - Med Bldg 5,000.00 TOTALS
Dep expense - Med Equipment 9,000.00
Interest expense 20,000.00
1,666.67 -
35,000.00 -
5,000.00 -
9,000.00 -
5,000.00
9,000.00
51,000.00
20,000.00 -
20,000.00
434,000.00 2,113,333.33 1,900,000.00 434,000.00 434,000.00 1,913,333.33
213,333.33
434,000.00 2,113,333.33 2,113,333.33
POST-CLOSING TB
CREDIT
361,000.00
4,000.00
1,200,000.00
263,333.33
5,000.00
9,000.00
51,000.00
20,000.00
1,913,333.33