Homework 2

3820221046 Bakhromov Rakhimjon

1.

No. Transaction General Journal Debit Credit

1 a. Cash 100,750

K. Spade, Capital 100,750

2 b. O ce supplies 1,250

Cash 1,250

3 c. O ce equipment 10,050

Accounts payable 10,050

4 d. Cash 15,500

Fees earned 15,500

5 e. Accounts payable 10,050

Cash 10,050

6 f. Accounts receivable 2,700

Fees earned 2,700

7 g. Rent expense 1,225

Cash 1,225

8 h. Cash 1,125

Accounts receivable 1,125

9 i. K. Spade, Withdrawals 10,000

Cash 10,000
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 Cash
Accounts Receivable
a 100,750 b 1,250

d 15,500 e 10,050 f. 2,700 h. 1,125

h 1,125 g 1,225

i. 10,000
Balance 1,575
Balance 94,850

O ce Supplies
O ce Equipment
b 1,250
c. 10,050

Balance 1,250
Balance 10,050

Accounts Payable
K. Spade, Capital
e. 10,050 10,050
a. 100,750

Balance 0
Balance 100,750

K. Spade, Withdrawals
Fees Earned
i. 10,000
d. 15,500

f. 2,700
Balance 10,000
Balance 18,200

Rent Expense

g. 1,225

Balance 1,225
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 2.
HG’S AUTO MAINTENANCE

Trial Balance

October 31

Debit Credit

Cash $2,975

Accounts receivable 3,400

Supplies 500

Shop equipment 12,200

O ce equipment 7,400

Accounts payable $5,000

Hal Gri n, Capital 23,000

Hal Gri n, Withdrawals 4,800

Repair fees earned 11,875

Supplies expense 8,600

Totals $39,875 $39,875

3.

Sally’s Salon Inc.

Income Statement

For month end of December 31st

Revenues

Revenues Earned $72,000

Total Revenue $72,000

Expenses

Beauty supplies expense $3,425

Rent expense $6,000

Wages expense $22,000

Total expense $31,425

Net income $40,575

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 Sally’s Salon Inc.

Statement of Owner’s Equity

For month end of December 31

S.Crawford, Capital, December 31st $21,155

Plus: Net income $40,575

Less: S.Crawford, Withdrawals $36,000

S.Crawford, Capital, December 31st $25,730

Sally’s Salon Inc.

Balanse Sheet

For month end of Dec 31

Assets Liabilities

Cash $6,500 Accounts payable $745

Accounts receivable $475 Total Liabilities $745

Beauty equipment $17,000 Equity

Beauty supplies $2,500 S.Crawford, Capital $25,730

Total equity $25,730

Total Assets $26,475 Total Liabilities and Equity $26,475

4.
a.
Accounts payable balance as on Sep 30th $152,000

Add: On-account purchases during Oct $281,000

Less: Accounts payable balance as on Oct 31 -$132,500

Cash paid during Oct $300,500

b.

Accounts receivable balance as on Oct 31 $89,000

Add: Cash received during Oct $102,890

Less: Accounts receivable balance as on Sep 30 -$102,500

Cash balance as on Sep 3 $89,390

c.
Cash balance as on Oct 31 $18,600

Add: Cash disbursements during Oct $103,150

Less: Cash receipts during Oct -$102,500

Cash balance as on Sep 3 $19,250

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