Homework - Financial Accounting | Trường Đại học Quốc tế, Đại học Quốc gia Thành phố HCM

Homework - Financial Accounting | Trường Đại học Quốc tế, Đại học Quốc gia Thành phố HCM được sưu tầm và soạn thảo dưới dạng file PDF để gửi tới các bạn sinh viên cùng tham khảo, ôn tập đầy đủ kiến thức, chuẩn bị cho các buổi học thật tốt. Mời bạn đọc đón xem!

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Homework - Financial Accounting | Trường Đại học Quốc tế, Đại học Quốc gia Thành phố HCM

Homework - Financial Accounting | Trường Đại học Quốc tế, Đại học Quốc gia Thành phố HCM được sưu tầm và soạn thảo dưới dạng file PDF để gửi tới các bạn sinh viên cùng tham khảo, ôn tập đầy đủ kiến thức, chuẩn bị cho các buổi học thật tốt. Mời bạn đọc đón xem!

69 35 lượt tải Tải xuống
INTERNATIONAL UNIVERSITY (IU) Course: Financial Accounting (BA005IU)
School of Business ----- ----- 0
HOMEWORK FINANCIAL ACCOUNTING
Group 5_Thursday Morning:
Đinh Thị Quỳnh Hoa - BABAIU20054
Nguyễn Quỳnh Hoa - BABAWE20165
Dương Tuấn Khải - BAFNIU20304
CHAPTER 2
Question 1.
Date Account Titles and Explanations Ref. Debit Credit
Mar. 1 Owners Capital
(Invested in the business)
Cash
$20,000
$20,000
3 Purchased land, shed, equipment
Cash
$12,000
$2,000
$1,000
$15,000
5 Advertising Expenses
Cash
$900
$900
6 Prepaid Insurance
(A one-year insurance policy)
Cash
$600
$600
10 Purchased equipment from Stevenson.
Company payable
Accounts Payable
$1,050
$1,050
18 Service Revenue
(Received cash for Golf fees)
Cash
$1,100
$1,100
19 Unearned Service Rvenue
(Sold Coupon in cash 150x$10=$1,500)
Cash
$1,500
$1,500
25 Owners Drawing
(Withdraw cash for personal use)
Cash
$800
$800
30 Salaries Expense
Cash
$250
$250
30 Accounts payable
(Paid creditors on accounts)
Cash
$1050
$1050
31 Service Revenue
(Received golf fees)
Cash
$2,700
$2,700
INTERNATIONAL UNIVERSITY (IU) Course: Financial Accounting (BA005IU)
School of Business ----- ----- 0
Question 2.
a)
GENERAL JOURNAL
Date Account Titles and Explanations Ref. Debit Credit
April 1 Cash 101 $20,000
Owners Capital 301 $20,000
1 No entry
2 Rent Expense 729 $1,100
Cash 101 $1,100
3 Supplies 126 $4,000
Accounts Payable 201 $4,000
10 Accounts Receivable 112 $5,100
Service Revenue 400 $5,100
11 Cash 101 $1,000
Unearned Service Revenue 209 $1,000
20 Cash 101 $2,100
Service Revenue 400 $2,100
30 Salaries and Wages Expense 726 $2,800
Cash 101 $2,800
30 Accounts Payable 112 $2,400
Cash $2,400
b)
CASH No.101
Date Explanation Ref Debit Credit Balance
April 1
2
11
20
30
30
J1
J1
J1
J1
J1
J1
$20,000
$1,000
$2,100
$1,100
$2,800
$2,400
$20,000
$18,900
$19,900
$22,000
$19,200
$16,800
OWNER’S CAPITAL No.301
Date Explanation Ref Debit Credit Balance
April 1 J1 $20,000 $20,000
RENT EXPENSE No.729
Date Explanation Ref Debit Credit Balance
April 2 J1 $1,100 $1,100
INTERNATIONAL UNIVERSITY (IU) Course: Financial Accounting (BA005IU)
School of Business ----- ----- 0
SUPPLIES No.126
Date Explanation Ref Debit Credit Balance
April 3 J1 $4,000 $4,000
ACCOUNT PAYABLE No.201
Date Explanation Ref Debit Credit Balance
April 3
30
J1
$2,400
$4,000 $4,000
$1,600
ACCOUNT RECEIVABLE No.112
Date Explanation Ref Debit Credit Balance
April 10 J1 $5,100 $5,100
SERVICE REVENUE No.400
Date Explanation Ref Debit Credit Balance
April 10
20
J1 $5,100
$2,100
$5,100
$7,200
UNEARNED
SERVICE REVENUE
No.209
Date Explanation Ref Debit Credit Balance
April 11 J1 $1,000 $1,000
SALARY AND WAGE
EXPENSE
No.726
Date Explanation Ref Debit Credit Balance
April 30 J1 $2,800 $2,800
INTERNATIONAL UNIVERSITY (IU) Course: Financial Accounting (BA005IU)
School of Business ----- ----- 0
c)
Emily Valley
Trial Balance
April 30, 2017
Debit Credit
Cash $ 16,800
Owners Capital 20,000
Rent Expense 1,100
Supplies 4,000
Account Payable 1,600
Account Receivable 5,100
Service Revenue 7,200
Unearned Service Revenue 1,000
Salary and Wage Expense 2,800
$29,800 $29,800
Question 3.
a)
CASH No.101
Date Explanation Ref. Dr. Cr. Balance
March-1
3000 3000
LAND No.140
Date Explanation Ref. Dr. Cr. Balance
March-1
24000 24000
BUILDINGS No.145
Date Explanation Ref. Dr. Cr. Balance
March-1
10000 10000
EQUIPMENT No.157
Date Explanation Ref. Dr. Cr. Balance
March-1
10000 10000
ACCOUNT PAYABLE No.201
Date Explanation Ref. Dr. Cr. Balance
March-1
7000 7000
OWNER’S CAPITAL No.301
Date Explanation Ref. Dr. Cr. Balance
March-1
40000 40000
b)
Date Account titles & explanations Ref. Debit Credit
INTERNATIONAL UNIVERSITY (IU) Course: Financial Accounting (BA005IU)
School of Business ----- ----- 0
March-2 Rental Expense
Cash
Accounts Payable
(Paid cash for Film Rent)
$3500
$1500
$2000
March-3 No Entry
(Hide, order , contact , promise
agrument etc are not financial
transactions)
-
-
March-9 Cash
Admission Revenue
(Received cash from
admissions)
$4300
$4300
March-10 Accounts Payable
Cash
(Paid creditors on accounts.
($2000 + $2100)=$4100 )
$4100
$4100
March-11 No entry
(Hire , order , contact ,promise
argument etc are not financial
transactions)
-
-
March-12 Advertising expense
Cash (paid cash for Advertising expense)
$900
$900
March-20 Cash
Admission Revenue
(Received cash from customer for
Admission)
$5000
$5000
March-20 Rent Expense
Cash(Paid cash for Rental fee)
$2000
$2000
March-31 Salaries Expense
Cash(Paid cash for salaries)
March-31 Cash(1/2 x $900= $450)
Account Receivable(1/2 x $900=$450)
Rent Revenue($6000x15%=$900)
(Received cash for concession of
the Adams to Operate which stands
as Rent Revenue)
$450
$450
$900
March-31 Cash
Admission Revenue
(Received cash for Admission)
$9000
$9000
c)
Cash No.101
Date Explaination Ref Dr. Cr. Balance
March-1
March-2 Rental Expense
J1
$3000
$1500
$3000
$1500
INTERNATIONAL UNIVERSITY (IU) Course: Financial Accounting (BA005IU)
School of Business ----- ----- 0
March-9
March-10
March-12
March-20
March-20
March-31
March-31
March-31
Admission Revenue
Accounts Payable
Advertising Expense
Admission Revenue
Film Rental Expense
Salaries Expense
Rent Revenue
Admission Revenue
J1
J1
J1
J1
J1
J1
J1
J1
$4300
$5000
$450
$9000
$4100
$900
$2000
$3100
$5800
$1700
$800
$5800
$3800
$700
$1150
$10150
Account Receivable
Date Explanation Ref. Dr. Cr. Balance
March-31 Rent Revenue J1 $450 $450
Land
Date Explanation Ref. Dr. Cr. Balance
March-1
$24000 $24000
Buildings
Date Explanation Ref. Dr. Cr. Balance
March-1
$10000 $10000
Equipment
Date Explanation Ref. Dr. Cr. Balance
March-1
$10000 $10000
Account Payable
Date Explanation Ref. Dr. Cr. Balance
March-1
March-2
March-9
Film Rental Expense
Cash
$4100
$7000
$2000
$7000
$9000
$4900
Owners Capital
Date Explanation Ref. Dr. Cr. Balance
March-1
$40000 $40000
Admission Revenue
Date Explanation Ref. Dr. Cr. Balance
March-9
March-20
March-31
Cash
Cash
Cash
J1
J1
J1
$4300
$5000
$9000
$4300
$9300
$18300
Rent Revenue
Date Explanation Ref. Dr. Cr. Balance
March-31 Cash J1 $900 $900
Salaries Expense
Date Explanation Ref. Dr. Cr. Balance
March-12 Cash J1 $3100 $3100
INTERNATIONAL UNIVERSITY (IU) Course: Financial Accounting (BA005IU)
School of Business ----- ----- 0
Advertising Expense
Date Explanation Ref. Dr. Cr. Balance
March-12 Cash J1 $800 $800
Rent Expense
Date Explanation Ref
.
Dr. Cr. Balance
March-2
March-20
Cash + Accounts Payable
Cash
J1
J1
$3500
$2000
$3500
$5500
d)
The Starr Theater
Trial Balance
March 31 ,2018
Sl.No. Accounts title Dr. Cr.
101
112
140
145
157
201
205
405
429
610
726
729
Cash
Accounts Receivable
Land
Buildings
Equipments
Accounts Payable
Owners Capital
Admission Revenue
Rent Revenue
Advertising Expense
Salaries Expense
Rent Expense
Totals
$1015
0
$450
$2400
0
$1000
0
$1000
0
$900
$3100
$5500
$6410
0
$4900
$40000
$18300
$900
$64100
CHAPTER 3
Question 1
a)
KRAUSE CONSULTING
ADJUSTING JOURNAL ENTRIES
Date Account Titles and Explanations Ref. Debit Credit
May- 31 Supplies Expenses
Supplies
631
126
$900
$900
May- 31 Utilities expense 732 $250
INTERNATIONAL UNIVERSITY (IU) Course: Financial Accounting (BA005IU)
School of Business ----- ----- 0
Account Payable 201 $250
May- 31 Insurance Expense
Prepaid Insurance
722
130
$150
$150
May- 31 Unearned service revenue
Service revenue
209
400
$1,600
$1,600
May- 31 Salaries and Wages Expense
Salaries and Wages Payable
726
212
$1,104
$1,104
May- 31 Depreciation Expense
Accumulated Depreciation—Equipment
717
150
$190
$190
May- 31 Accounts Receivable
Service Revenue
112
400
$1,700
$1,700
b)
CASH No.101
Date Explanation Ref Debit Credit Balance
May- 31 Balance
$4,500 $4,500
ACCOUNT RECEIVEABLE No.112
Date Explanation Ref Debit Credit Balance
May- 31 Balance
Service Revenue
J4
$6,000
$1,700
$6,000
$7,700
SUPPLIES No.126
Date Explanation Ref Debit Credit Balance
May- 31 Balance
Supplies Expenses
J4
$1,900
$900
$1,900
$1,000
PREPAID
INSURANCE
No.130
Date Explanation Ref Debit Credit Balance
May- 31 Balance
Insurance Expenses
J4
$3,600
$150
$3,600
$3,450
EQUIPMENT No.149
Date Explanation Ref Debit Credit Balance
May- 31 Balance
$11,400 $11,400
INTERNATIONAL UNIVERSITY (IU) Course: Financial Accounting (BA005IU)
School of Business ----- ----- 0
ACCOUNTS PAYABLE No.201
Date Explanation Ref Debit Credit Balance
May- 31 Balance
Utilities expense
J4
$4,500
$250
$4,500
$4,750
UNEARNED
SERVICE REVENUE
No.209
Date Explanation Ref Debit Credit Balance
May-31 Balance
Service revenue
J4
$1,600
$2,000 $2,000
$400
OWNER’S CAPITAL No.301
Date Explanation Ref Debit Credit Balance
May-31 Balance
$18,700 $18,700
SERVICE REVENUE No.405
Date Explanation Ref Debit Credit Balance
May-31 Balance
Unearned service
revenue
Accounts
Receivable
J4
J4
$9,500
$1,600
$1,700
$9,500
$11,100
$12,800
SUPPLIES EXPENSE No.631
Date Explanation Ref Debit Credit Balance
May-31 Supplies J4 $900 $900
SALARIES AND
WAGES EXPENSE
No.726
Date Explanation Ref Debit Credit Balance
May-31 Balance
Salaries and
Wages Payable
J4
$6,400
$1,104
$6,400
$7,504
RENT EXPENSE No.729
Date Explanation Ref Debit Credit Balance
May-31 Balance
$900 $900
INTERNATIONAL UNIVERSITY (IU) Course: Financial Accounting (BA005IU)
School of Business ----- ----- 0
DEPRECIATION
EXPENSE
No.717
Date Explanation Ref Debit Credit Balance
May-31 Accumulated
Depreciation—
Equipment
J4 $190 $190
INSURANCE
EXPENSE
No.722
Date Explanation Ref Debit Credit Balance
May-31 Prepaid
Insurance
J4 $150 $150
UTILITIES EXPENSE No.732
Date Explanation Ref Debit Credit Balance
May-31 Account
Payable
J4 $250 $250
ACCUMULATED
DEPRECIATION—
EQUIPMENT
No.150
Date Explanation Ref Debit Credit Balance
May-31 Depreciation
Expense
J4 $190 $190
c)
KRAUSE CONSULTING
ADJUSTED TRIAL BALANCE
MAY 31, 2019
No. Accounts title Dr. Cr.
101
112
126
130
149
150
201
209
212
301
400
Cash
Accounts Receivable
Supplies
Prepaid Insurance
Equipments
Accumulated Depreciation—Equipment
Accounts Payable
Unearnd Service Revenue
Salaries and Wages Payable
Owners Capital
Service Revenue
$4,500
$7,700
$1,000
$3,450
$11,400
$190
$4,750
$400
$1,104
$18,700
$12,800
INTERNATIONAL UNIVERSITY (IU) Course: Financial Accounting (BA005IU)
School of Business ----- ----- 0
631
726
729
717
722
732
Supplies Expense
Salaries and Wages Expense
Rent Expense
Depreciation Expense
Insurance Expense
Utilities Expense
Totals
$900
$7,504
$900
$190
$150
$250
$ 37,9440 $ 37,9440
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Preview text:

INTERNATIONAL UNIVERSITY (IU) Course: Financial Accounting (BA005IU)
School of Business -----0-----
HOMEWORK FINANCIAL ACCOUNTING Group 5_Thursday Morning:
Đinh Thị Quỳnh Hoa - BABAIU20054
Nguyễn Quỳnh Hoa - BABAWE20165
Dương Tuấn Khải - BAFNIU20304 CHAPTER 2 Question 1. Date
Account Titles and Explanations Ref. Debit Credit Mar. 1 Owner’s Capital $20,000 (Invested in the business) Cash $20,000 3
Purchased land, shed, equipment $12,000 $2,000 $1,000 Cash $15,000 5 Advertising Expenses $900 Cash $900 6 Prepaid Insurance $600 (A one-year insurance policy) Cash $600 10
Purchased equipment from Stevenson. $1,050 Company payable $1,050 Accounts Payable 18 Service Revenue $1,100 (Received cash for Golf fees) Cash $1,100 19 Unearned Service Rvenue $1,500
(Sold Coupon in cash 150x$10=$1,500) Cash $1,500 25 Owner’s Drawing $800
(Withdraw cash for personal use) Cash $800 30 Salaries Expense $250 Cash $250 30 Accounts payable $1050 (Paid creditors on accounts) Cash $1050 31 Service Revenue $2,700 (Received golf fees) Cash $2,700
INTERNATIONAL UNIVERSITY (IU) Course: Financial Accounting (BA005IU)
School of Business -----0----- Question 2. a) GENERAL JOURNAL Date
Account Titles and Explanations Ref. Debit Credit April 1 Cash 101 $20,000 Owner’s Capital 301 $20,000 1 No entry 2 Rent Expense 729 $1,100 Cash 101 $1,100 3 Supplies 126 $4,000 Accounts Payable 201 $4,000 10 Accounts Receivable 112 $5,100 Service Revenue 400 $5,100 11 Cash 101 $1,000 Unearned Service Revenue 209 $1,000 20 Cash 101 $2,100 Service Revenue 400 $2,100 30 Salaries and Wages Expense 726 $2,800 Cash 101 $2,800 30 Accounts Payable 112 $2,400 Cash $2,400 b) CASH No.101 Date Explanation Ref Debit Credit Balance April 1 J1 $20,000 $20,000 2 J1 $1,100 $18,900 11 J1 $1,000 $19,900 20 J1 $2,100 $22,000 30 J1 $2,800 $19,200 30 J1 $2,400 $16,800 OWNER’S CAPITAL No.301 Date Explanation Ref Debit Credit Balance April 1 J1 $20,000 $20,000 RENT EXPENSE No.729 Date Explanation Ref Debit Credit Balance April 2 J1 $1,100 $1,100
INTERNATIONAL UNIVERSITY (IU) Course: Financial Accounting (BA005IU)
School of Business -----0----- SUPPLIES No.126 Date Explanation Ref Debit Credit Balance April 3 J1 $4,000 $4,000 ACCOUNT PAYABLE No.201 Date Explanation Ref Debit Credit Balance April 3 J1 $4,000 $4,000 30 $2,400 $1,600 ACCOUNT RECEIVABLE No.112 Date Explanation Ref Debit Credit Balance April 10 J1 $5,100 $5,100 SERVICE REVENUE No.400 Date Explanation Ref Debit Credit Balance April 10 J1 $5,100 $5,100 20 $2,100 $7,200 UNEARNED No.209 SERVICE REVENUE Date Explanation Ref Debit Credit Balance April 11 J1 $1,000 $1,000 SALARY AND WAGE No.726 EXPENSE Date Explanation Ref Debit Credit Balance April 30 J1 $2,800 $2,800
INTERNATIONAL UNIVERSITY (IU) Course: Financial Accounting (BA005IU)
School of Business -----0----- c) Emily Valley Trial Balance April 30, 2017 Debit Credit Cash $ 16,800 Owner’s Capital 20,000 Rent Expense 1,100 Supplies 4,000 Account Payable 1,600 Account Receivable 5,100 Service Revenue 7,200 Unearned Service Revenue 1,000 Salary and Wage Expense 2,800 $29,800 $29,800 Question 3. a) CASH No.101 Date Explanation Ref. Dr. Cr. Balance March-1  3000 3000 LAND No.140 Date Explanation Ref. Dr. Cr. Balance March-1  24000 24000 BUILDINGS No.145 Date Explanation Ref. Dr. Cr. Balance March-1  10000 10000 EQUIPMENT No.157 Date Explanation Ref. Dr. Cr. Balance March-1  10000 10000 ACCOUNT PAYABLE No.201 Date Explanation Ref. Dr. Cr. Balance March-1  7000 7000
OWNER’S CAPITAL No.301 Date Explanation Ref. Dr. Cr. Balance March-1  40000 40000 b) Date
Account titles & explanations Ref. Debit Credit
INTERNATIONAL UNIVERSITY (IU) Course: Financial Accounting (BA005IU)
School of Business -----0----- March-2 Rental Expense $3500 Cash $1500 Accounts Payable $2000 (Paid cash for Film Rent) March-3 No Entry -
(Hide, order , contact , promise -
agrument etc are not financial transactions) March-9 Cash $4300 Admission Revenue $4300 (Received cash from admissions) March-10 Accounts Payable $4100 Cash $4100 (Paid creditors on accounts. ($2000 + $2100)=$4100 ) March-11 No entry -
(Hire , order , contact ,promise -
argument etc are not financial transactions) March-12 Advertising expense $900
Cash (paid cash for Advertising expense) $900 March-20 Cash $5000 Admission Revenue $5000
(Received cash from customer for Admission) March-20 Rent Expense $2000 Cash(Paid cash for Rental fee) $2000 March-31 Salaries Expense Cash(Paid cash for salaries) March-31 Cash(1/2 x $900= $450) $450
Account Receivable(1/2 x $900=$450) $450 Rent Revenue($6000x15%=$900) $900
(Received cash for concession of
the Adams to Operate which stands as Rent Revenue) March-31 Cash $9000 Admission Revenue $9000 (Received cash for Admission) c) Cash No.101 Date Explaination Ref Dr. Cr. Balance March-1  $3000 $3000 March-2 Rental Expense J1 $1500 $1500
INTERNATIONAL UNIVERSITY (IU) Course: Financial Accounting (BA005IU)
School of Business -----0----- March-9 Admission Revenue J1 $4300 $5800 March-10 Accounts Payable J1 $4100 $1700 March-12 Advertising Expense J1 $900 $800 March-20 Admission Revenue J1 $5000 $5800 March-20 Film Rental Expense J1 $2000 $3800 March-31 Salaries Expense J1 $3100 $700 March-31 Rent Revenue J1 $450 $1150 March-31 Admission Revenue J1 $9000 $10150 Account Receivable Date Explanation Ref. Dr. Cr. Balance March-31 Rent Revenue J1 $450 $450 Land Date Explanation Ref. Dr. Cr. Balance March-1  $24000 $24000 Buildings Date Explanation Ref. Dr. Cr. Balance March-1  $10000 $10000 Equipment Date Explanation Ref. Dr. Cr. Balance March-1  $10000 $10000 Account Payable Date Explanation Ref. Dr. Cr. Balance March-1  $7000 $7000 March-2 Film Rental Expense $2000 $9000 March-9 Cash $4100 $4900 Owner’s Capital Date Explanation Ref. Dr. Cr. Balance March-1  $40000 $40000 Admission Revenue Date Explanation Ref. Dr. Cr. Balance March-9 Cash J1 $4300 $4300 March-20 Cash J1 $5000 $9300 March-31 Cash J1 $9000 $18300 Rent Revenue Date Explanation Ref. Dr. Cr. Balance March-31 Cash J1 $900 $900 Salaries Expense Date Explanation Ref. Dr. Cr. Balance March-12 Cash J1 $3100 $3100
INTERNATIONAL UNIVERSITY (IU) Course: Financial Accounting (BA005IU)
School of Business -----0----- Advertising Expense Date Explanation Ref. Dr. Cr. Balance March-12 Cash J1 $800 $800 Rent Expense Date Explanation Ref Dr. Cr. Balance . March-2 Cash + Accounts Payable J1 $3500 $3500 March-20 Cash J1 $2000 $5500 d) The Starr Theater Trial Balance March 31 ,2018 Sl.No. Accounts title Dr. Cr. 101 Cash $1015 112 Accounts Receivable 0 140 Land $450 145 Buildings $2400 157 Equipments 0 201 Accounts Payable $1000 $4900 205 Owner’s Capital 0 $40000 405 Admission Revenue $1000 $18300 429 Rent Revenue 0 $900 610 Advertising Expense 726 Salaries Expense 729 Rent Expense Totals $64100 $900 $3100 $5500 $6410 0 CHAPTER 3 Question 1 a) KRAUSE CONSULTING
ADJUSTING JOURNAL ENTRIES Date
Account Titles and Explanations Ref. Debit Credit May- 31 Supplies Expenses 631 $900 Supplies 126 $900 May- 31 Utilities expense 732 $250
INTERNATIONAL UNIVERSITY (IU) Course: Financial Accounting (BA005IU)
School of Business -----0----- Account Payable 201 $250 May- 31 Insurance Expense 722 $150 Prepaid Insurance 130 $150 May- 31 Unearned service revenue 209 $1,600 Service revenue 400 $1,600 May- 31 Salaries and Wages Expense 726 $1,104 Salaries and Wages Payable 212 $1,104 May- 31 Depreciation Expense 717 $190
Accumulated Depreciation—Equipment 150 $190 May- 31 Accounts Receivable 112 $1,700 Service Revenue 400 $1,700 b) CASH No.101 Date Explanation Ref Debit Credit Balance May- 31 Balance  $4,500 $4,500 ACCOUNT RECEIVEABLE No.112 Date Explanation Ref Debit Credit Balance May- 31 Balance  $6,000 $6,000 Service Revenue J4 $1,700 $7,700 SUPPLIES No.126 Date Explanation Ref Debit Credit Balance May- 31 Balance  $1,900 $1,900 Supplies Expenses J4 $900 $1,000 PREPAID No.130 INSURANCE Date Explanation Ref Debit Credit Balance May- 31 Balance  $3,600 $3,600 Insurance Expenses J4 $150 $3,450 EQUIPMENT No.149 Date Explanation Ref Debit Credit Balance May- 31 Balance  $11,400 $11,400
INTERNATIONAL UNIVERSITY (IU) Course: Financial Accounting (BA005IU)
School of Business -----0----- ACCOUNTS PAYABLE No.201 Date Explanation Ref Debit Credit Balance May- 31 Balance  $4,500 $4,500 Utilities expense J4 $250 $4,750 UNEARNED No.209 SERVICE REVENUE Date Explanation Ref Debit Credit Balance May-31 Balance  $2,000 $2,000 Service revenue J4 $1,600 $400 OWNER’S CAPITAL No.301 Date Explanation Ref Debit Credit Balance May-31 Balance  $18,700 $18,700 SERVICE REVENUE No.405 Date Explanation Ref Debit Credit Balance May-31 Balance  $9,500 $9,500 Unearned service revenue J4 $1,600 $11,100 Accounts Receivable J4 $1,700 $12,800 SUPPLIES EXPENSE No.631 Date Explanation Ref Debit Credit Balance May-31 Supplies J4 $900 $900 SALARIES AND No.726 WAGES EXPENSE Date Explanation Ref Debit Credit Balance May-31 Balance  $6,400 $6,400 Salaries and J4 $1,104 $7,504 Wages Payable RENT EXPENSE No.729 Date Explanation Ref Debit Credit Balance May-31 Balance  $900 $900
INTERNATIONAL UNIVERSITY (IU) Course: Financial Accounting (BA005IU)
School of Business -----0----- DEPRECIATION No.717 EXPENSE Date Explanation Ref Debit Credit Balance May-31 Accumulated J4 $190 $190 Depreciation— Equipment INSURANCE No.722 EXPENSE Date Explanation Ref Debit Credit Balance May-31 Prepaid J4 $150 $150 Insurance UTILITIES EXPENSE No.732 Date Explanation Ref Debit Credit Balance May-31 Account J4 $250 $250 Payable ACCUMULATED No.150 DEPRECIATION— EQUIPMENT Date Explanation Ref Debit Credit Balance May-31 Depreciation J4 $190 $190 Expense c) KRAUSE CONSULTING ADJUSTED TRIAL BALANCE MAY 31, 2019 No. Accounts title Dr. Cr. 101 Cash $4,500 112 Accounts Receivable $7,700 126 Supplies $1,000 130 Prepaid Insurance $3,450 149 Equipments $11,400 150
Accumulated Depreciation—Equipment $190 201 Accounts Payable $4,750 209 Unearnd Service Revenue $400 212 Salaries and Wages Payable $1,104 301 Owner’s Capital $18,700 400 Service Revenue $12,800
INTERNATIONAL UNIVERSITY (IU) Course: Financial Accounting (BA005IU)
School of Business -----0----- 631 Supplies Expense $900 726 Salaries and Wages Expense $7,504 729 Rent Expense $900 717 Depreciation Expense $190 722 Insurance Expense $150 732 Utilities Expense $250 Totals $ 37,9440 $ 37,9440