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Trial Balance Questions for Accounting

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Trial balance questions for accounting

 

 

General Journal Entries

 

 

Date

Account

Debit

Credit

a.

03 Dec.

Building

11200

 

 

 

   Cash

 

11200

 

 

 

 

 

b.

06 Dec.

Accounts receivable

3300

 

 

 

   Service Revenues

 

3300

 

 

 

 

 

c.

11 Dec.

Office supplies

600

 

 

 

   Accounts Payable

 

600

 

 

 

 

 

d.

13 Dec.

Cash

1600

 

 

 

   Service Revenues

 

1600

 

 

 

 

 

e.

19 Dec.

Cash

7300

 

 

 

Accumulated depreciation

3900

 

 

 

   Building

 

11200

f.

21 Dec.

Accounts Payable

1850

 

 

 

   Cash

 

1850

 

 

 

 

 

g.

25 Dec.

Cash

1600

 

 

 

    Accounts Receivable

 

1600

 

 

 

 

 

h.

31 Dec.

Rent Expenses

Salaries Expenses

Electricity Expenses

1200

1700

190

 

 

 

 

 

Cash

 

3090

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ledger Accounts for 30.11.2007 & 31.12.2007

 

          Cash

 

 

30.11.2007

10200

11200

03.12.2007

13.12.2007

1600

1850

21.12.2007

19.12.2007

7300

3090

31.12.2007

25.12.2007

1600

 

 

Ending Balance

4560

 

 

 

Accumulated depreciation

 

 

 

3900

End bal.

 

 

    Accounts Receivable

 

30.11.2007

3600

1600

25.12.2007

             06.12.2007

3300

 

 

End Balance

5300

 

 

 

 

 

 

 

          Accounts Payable

 

 

 

1850

 2200

 30.11.2007

 

 

600

 

 

December

950

End Bal

 

Office Suplies

 

 

30.11.2007

2300

 

 

11.12.2007

600

 

 

End Balance

2900

 

 

 

Owner’s Withdrawals

 

 30.11.2007

 4000

 

 

End Balance

 4000

 

 

 

 

 

 

 

Capital

 

 

 

 

25000

30.11.2007

 

 December

25000

End Bal

 

 

 

 

 

Service Revenue

 

 

 

2700

 30.11.2007

 

 

7600

End Bal

 

Rent Expenses

 

 

30.11.2007

2000

 

 

31.12.2007

1200

 

 

End Balance

3200

 

 

 

Salaries Expenses

 

 

30.11.2007

4400

 

 

31.12.2007

1700

 

 

End Balance

6100

 

 

 

Electricity Expenses

 

 

30.11.2007

3400

 

 

31.12.2007

190

 

 

End Balanc

3590

 

 

 

 

ABCD Ltd.

Trial Balance

31.12.2007

 

Balance

Account Title

Debit

 

Credit

Cash 

4560

 

 

Office Supplies 

2900

 

 

accumulated depreciation

3900

 

 

Accounts Receivable

5300

 

 

Accounts Payable 

 

 

950

Owner’s Capital

 

 

25000

Owner’s withdrawals

4000

 

 

Service Revenue 

 

 

7600

Rent Expenses

3200

 

 

utility Expenses

3590

 

 

Salary Expenses

6100

 

 

Total                                                          TL

33550

 

33550

 

ABCD Ltd.
Income Statement
For the Month Ended December 31, 2007

 

Revenues.............................................................................................................

$7,600

Rent expense.......................................................................................................

3200

Salary expense…………………………………………………………………

6100

Utility expense………………………………………………………………..

3590

Net income(loss)..................................................................................................

(5290)

 

ABCD Ltd.

Statement of Owner's Equity

For year ended 31.12.2007

 

Owner’s capital                                                                                          $ 25000

Owner’s withdrawals                                                                                       4000

Retained earnings                                                                                           (5290)

Total owner’s equity                                                                                  $ 15710

 

 

 

ABCD Ltd.

Balance Sheet

31.12.2007

 

Assets:                                                   liabilities:

Cash                                 4560              accounts payable                       950

Office supplies                 2900             owner’s equity:         

Accounts receivable         5300             Owner’s capital                       25000

Accumulated dep.            3900              owner’s withdrawal                   4000

                                                               Retained earnings                     (5290)

Total assets:                    $16660            total liab. And O.E:                  $16660

 

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