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  • ACC Assignment 2

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    Saba Afzaal
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    Accpunting-1

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    ACC assignment 2

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    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
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    42 views8 pages

    ACC Assignment 2

    Uploaded by

    Saba Afzaal
    Accpunting-1

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 8

    Business Name

    Journal
    Dr. Cr.
    Date Account Title REF $ $
    supplies expense 670
    1 supplies 670
    suplies used during period
    depreciate expense 1000
    2 accumulated depreciation- 1000
    depreciation on equipment recorded
    interest expense 150
    3 interest payable 150
    interest on notes payable accured
    insurance expense 600
    4 prepaid insurance 600
    insurance expired during period
    account receiveble 530
    5 service revenue 530
    received revenue from service
    cash account ACC. No a
    Date Explanation Ref Debit Credit Balance Date
    balance brought down 11400 11400

    11400 0 11400
    Account receivable ACC. No T.
    Date Explanation Ref Debit Credit Balance Date
    balance B/D 5620 5620
    service revenue 530 6150

    6150 0 6150
    supplies ACC. No T. M
    Date Explanation Ref Debit Credit Balance Date
    balance B/D 1050 1050
    supplies expense 670 670

    1050 670 380


    prepaid insurance ACC. No s
    Date Explanation Ref Debit Credit Balance Date
    balance B/D 2400 2400

    2400 2400
    equipments ACC. No s
    Date Explanation Ref Debit Credit Balance Date
    balance B/D 30000 30000

    notes payable ACC. No t


    Date Explanation Ref Debit Credit Balance Date
    balance B/D 10000 10000

    insurance expense ACC. No


    Date Explanation Ref Debit Credit Balance Date
    prepaid insurance 600 0 600

    600
    prepaid insurance ACC. No misc
    Date Explanation Ref Debit Credit Balance Date
    insurance expense 600 600

    600
    s
    Date
    de
    Date

    accumulated
    Date

    in
    Date

    i
    Date
    account payable ACC. No
    Explanation Ref Debit Credit Balance
    balance b/d 12350 12350

    T. Magnum, Capital ACC. No


    Explanation Ref Debit Credit Balance
    balance b/d 20000 20000

    T. Magnum, Drawing ACC. No


    Explanation Ref Debit Credit Balance
    balance b/d 600 600

    service revenue ACC. No


    Explanation Ref Debit Credit Balance
    balance b/d 13620 13620
    account receivable 530 14150

    0 14150 14150
    salaries expense ACC. No
    Explanation Ref Debit Credit Balance
    balance b/d 2200 2200

    travel expense ACC. No


    Explanation Ref Debit Credit Balance
    balance b/d 1300 1300

    rent expense ACC. No


    Explanation Ref Debit Credit Balance
    balance b/d 1200 1200

    miscellaneous expense ACC. No


    Explanation Ref Debit Credit Balance
    balance b/d 200 200

    supplies expense ACC. No


    Explanation Ref Debit Credit Balance
    supplies 670 670
    depreciate expense ACC. No
    Explanation Ref Debit Credit Balance
    accumulated depreciation-equipments 1000 1000

    1000 0 1000
    accumulated depreciation-equipments ACC. No
    Explanation Ref Debit Credit Balance
    depreciate expense 1000 1000

    0 1000 1000
    interest expense ACC. No
    Explanation Ref Debit Credit Balance
    interest payable 150 150

    150 0 150
    interest payable ACC. No
    Explanation Ref Debit Credit Balance
    interest expense 150 150

    0 150 150
    Business Name
    Trial Balance
    Last date of Your Accounting Period
    Acc. No Account title Debit Credit
    cash 11400
    account receivable 6150
    supplies 380
    prepaid insurance 2400
    equipment 30000
    notes payable 10000
    account payable 12350
    T. Magnum, Capital 20000
    T .Magnum, Drawing 600
    service revenue 14150
    selaries expense 2200
    rent expense 1200
    travel expense 1300
    miscelleneous expense 200
    depreciation 1000
    accomulated depreciation-equipment 1000
    interest expense 150
    supplies expense 670
    interest payable 150
    prepaid insurance 600
    insurance expense 600

    Total 58250 58250

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