Ive of Collaborative Goal Setting

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Unit 7 Handout 1: Worksheet Assignment

Name:
BMA 152 Bookkeeping Fundamentals I
Worksheet Assignment
Directions: Please complete the following problem:
1. Company A has the following unadjusted trial balance. Write out the following three adjusting journal entries and complete the Company A Worksheet below. Fill out the appropriate account name and transaction description for each chart. For the Debit and Credit columns, determine which data entry is to be Debit or Credit and fill out appropriately. Complete this assignment by the end of Unit Nine, 11:55 p.m. PST. a. Company A counts its supplies at the end of the month and finds that it only has $250 worth of supplies remaining on October 31, 2010.

Date

Account name & Transaction description

Debit

Credit

b. Company A receives a payment from Customer XYZ on October 31, 2010 for $2,000 for Customer XYZ’s outstanding receivable.
Date

Account name & Transaction description

Debit

Credit

c. Company A received an invoice from the electric company covering the month of October for $85 and an invoice related to shipping for $200, but Company A did not pay these invoices by October 31, 2010.

Date

Account name & Transaction description

Debit

Credit

Unit 7 Handout 1: Worksheet Assignment

Company A Worksheet
For Month Ended October 31, 2010
 

Unadjusted Trial 
Balance 

 

Debit 

Cash 

Adjustments

Credit 

Debit 

Adjusted Trial Balance

Credit

Debit

Credit

Income Statement 
Debit

Credit 

Balance Sheet
Debit

Credit

 2,800.00  

 

      

    

    

 350.00  

 

      

    

    

 4,310.00  

 

      

     

      

     

      

     

      

     

Accounts 
Payable 

 

 600.00  

      

     

      

     

      

     

      

     

Accrued 
Liabilities 

 

 

      

     

      

     

      

     

      

     

Product Sales 

 

 5,500.00  

      

Supplies 
Accounts 
Receivable 

Utilities Expense 

 

 

    
      

    
    

    

Supplies 
Expense 

 

 

      

     

      

     

      

     

      

     

Shipping 
Expense 

 40.00  

 

      

     

      

     

      

     

      

     

Equity 
(Capital) 

 

 1,400.00  

      

     

      

     

      

     

      

     

 7,500.00  

 7,500.00  

            

    

Net Income 

 

 

 

    

 

 

 

 

    

Total 

 
 
 
 
 
 
 
 
 
 
Instructor’s Feedback:            

 
 

  
 

  

    
    

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