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cash------------------------------ 45,000
notes receivable--------------- 360,000
account receivable------------ 156,000
office supplies -----------------63,000
land------------------------------ 300,000
building -------------------------1,590,000
accumulated depreciation building----- 254,000
equipment ----------------------2,150,000
accumulated depreciation equipment-----612,000
accounts payable-------------- 213,000
unearned consulting revenues--- 450,000
capital ----------------------------2,655,000
withdrawals ---------------------600,000
consulting revenues --------------2,108,000
salaries expense --------------875,000
repairs expense --------------116000
miscellaneous --------------expense 37,000
additional information (please post an adjusting entries)
a. office supplies on hand as at dec 31,2013 is 21,000
Dr. Office Supplies Expense 42,000
Cr. Office Supplies 42,000
#
(63,000 - 21,000 = 42,000 Expense Portion of Supplies)
Yung Ending Balance ng Office Supplies mo ay dapat 21,000.
Ayan pinalitan ko na. hehe
b.one third the unearned revenues has been earned as at dec.31,2013
Dr. Unearned Consultative Revenues 150,000 <----liability account
Cr. Consultative Revenues 150,000 <----- Income Account
#
(unearned consulting revenues--- 450,000 x 1/3 = 150,000 Earned portion of consultative revenue)
c.depreciation for the year amounted to 38,000 for the building and 123,000 for the equipment
Dr. Depreciation Expense 161,000
Cr. accumulated depreciation building 38,000
Cr. accumulated depreciation equipment 123,000
#
d.salaries in the amount of 14,000 have accrued at year end.
Dr. Salaries Expense 14,000
Cr. Accounts Payable/ Payroll Payable 14,000
#
e. the notes receivable were accepted from several customers, the notes were issued on sept. 1,2013 & will settled together with a 20% interest on may 31,2014.
Dr. Notes Receivable 32,000
Cr. Interest Income on Notes Receivable 32,000
#
Principal Notes Receivable 360,000 x 20% x 4/9 = 32,000 Interest Income.
4 = represents months from Sept. 1 to Dec. 31.
9 = represents months from Sept. 1 to May 2014
pa help bossing. salamat
Keep Studying
cash------------------------------ 45,000
notes receivable--------------- 360,000
account receivable------------ 156,000
office supplies -----------------63,000
land------------------------------ 300,000
building -------------------------1,590,000
accumulated depreciation building----- 254,000
equipment ----------------------2,150,000
accumulated depreciation equipment-----612,000
accounts payable-------------- 213,000
unearned consulting revenues--- 450,000
capital ----------------------------2,655,000
withdrawals ---------------------600,000
consulting revenues --------------2,108,000
salaries expense --------------875,000
repairs expense --------------116000
miscellaneous --------------expense 37,000
additional information (please post an adjusting entries)
a. office supplies on hand as at dec 31,2013 is 21,000
Dr. Office Supplies Expense 42,000
Cr. Office Supplies 42,000
#
(63,000 - 21,000 = 42,000 Expense Portion of Supplies)
Yung Ending Balance ng Office Supplies mo ay dapat 21,000.
Ayan pinalitan ko na. hehe
b.one third the unearned revenues has been earned as at dec.31,2013
Dr. Unearned Consultative Revenues 150,000 <----liability account
Cr. Consultative Revenues 150,000 <----- Income Account
#
(unearned consulting revenues--- 450,000 x 1/3 = 150,000 Earned portion of consultative revenue)
c.depreciation for the year amounted to 38,000 for the building and 123,000 for the equipment
Dr. Depreciation Expense 161,000
Cr. accumulated depreciation building 38,000
Cr. accumulated depreciation equipment 123,000
#
d.salaries in the amount of 14,000 have accrued at year end.
Dr. Salaries Expense 14,000
Cr. Accounts Payable/ Payroll Payable 14,000
#
e. the notes receivable were accepted from several customers, the notes were issued on sept. 1,2013 & will settled together with a 20% interest on may 31,2014.
Dr. Notes Receivable 32,000
Cr. Interest Income on Notes Receivable 32,000
#
Principal Notes Receivable 360,000 x 20% x 4/9 = 32,000 Interest Income.
4 = represents months from Sept. 1 to Dec. 31.
9 = represents months from Sept. 1 to May 2014
pa help bossing. salamat
Keep Studying
