Week 6 Practice Problem 1 Copy

Topics: Generally Accepted Accounting Principles, Balance sheet, Revenue Pages: 16 (446 words) Published: December 15, 2014


NAME
December 14, 2014
Week 6 Practice Problem 1
XACC/290

General Journal
Date
Account Titles
Debit
Credit
July 01
Cash
12,000
 
 
Common Stock

12,000
1
Equipment
8,000
 
 
Accounts Payable

6,000
 
Cash

2,000
3
Cleaning Supplies
   900
 
 
Accounts Payable

   900
5
Prepaid Insurance
1,800
 
 
Cash

1,800
12
Accounts Receivable
3,700
 
 
Service Revenue

3,700
18
Accounts Payable
1,500
 
 
Cash

1,500
20
Salaries Expense
2,000
 
 
Cash

2,000
21
Cash
1,600
 
 
Accounts Receivable

1,600
25
Accounts Receivable
2,500
 
 
Service Revenue

2,500
31
Gas & Oil Expense
290
 
 
Cash

290
31
Dividends
600
 
 
Cash
 
600

Cash

Accounts Payable
07/01
12,000
07/01
2,000

07/18
1,500
07/01
6,000
07/21
1,600
07/05
1,800

07/03
900

07/18
1,500

 
 
Bal. 7/31
5,400

07/20
2,000

Common Stock

07/31
290

07/01
12,000

07/31
600

 
 
Bal. 7/31
12,000
Bal. 7/31
5,410
 
 

Equipment
Accounts Receivable

07/01
8,000
 

07/12
3,700
07/21
1,600

Bal. 7/31
8,000
 
 
07/25
2,500
 

Prepaid Insurance
Bal. 7/31
4,600
 
 

07/05
1,800
 

Cleaning Supplies

Bal. 7/31
1,800
 
 
07/03
900
 

Salaries Expense
Bal. 7/31
900
 
 

07/20
2,000
 

Dividends

Bal. 7/31
2,000
 
 
07/31
600
 

Service Revenue
Bal. 7/31
600
 
 

07/12
3,700
Gas & Oil Expense

07/25
2,500
07/31
290
 

 
 
Bal. 7/31
6,200
Bal. 7/31
290
 
 

Pro Window Washing Inc
Trial Balance
July 31, 2012

Debit
Credit
Accounts Payable

(5,400)
Accounts Receivable
4,600

Cash
5,410

Cleaning Supplies
900

Common Stock

(12,000)
Dividends
600

Equipment
8,000

Gas & Oil Expense
290

Prepaid Insurance
1,800

Salaries Expense
2,000

Service Revenue

(6,200)

23,600
(23,600)

General Journal
Date
Account Titles
Debit
Credit
July 31
Accounts Receivable
1,700
 
 
Service Revenue

1,700
31
Depreciation Expense
180
 
 
Accumulated Depreciation

180
31
Insurance Expense
150
 
 
Prepaid Insurance

150
31
Cleaning Supplies Expense
580
 
 
Cleaning Supplies

580
31
Salaries Expense
400
 
 
Salaries Payable
 
400

Cash

Accounts Payable
07/01
12,000
07/01
2,000

07/18
1,500
07/01
6,000
07/21
1,600
07/05
1,800

07/03
900
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