ACCT 101 Comprehensive Prob 1
Content
ACCT 101
SUSQUEHANNA COMPREHENSIVE PROBLEM #1 Journalize the e!e"er e!e"er tran$a!tion$ tran$a!tion$ Dec 1
Cash
200000 Paid in Capital
Dec 1
Dec 1
Dec 4
Dec $
Dec 12
Dec 1(
Dec 1+
Dec 2.
Dec 2*
Dec 2+
Dec 2$
Dec 2/
200000
Equipment Ca Cash Notes Payable
240000
Cash Advance rent
12000
!ce "upplies #odern !ce
1000
Cash %nearned &ee rental
$000
"alary e'pense Ca Cash
(200
Cash )eceivables )evenue earned
12000 *000
)epair e'penses Earth #overs ,nc-
*00
Cash )e )eceivables
2000
"alary e'penses Ca Cash
(200
Earth #overs ,nc Ca Cash
*00
Dividends Dividends payable
20000
Prepaid ,nsurance
/*00
140000 100000
12000
1000
$000
(200
1$000
*00
2000
(200
*00
20000
Adjusting Entries Dec .1
Advance rent )e )ent
4000 4000
Dec .1
Dec .1
Dec .1
Dec .1
Dec .1
,nterest e'penses ,nterest payable
(000
Accumulated Depreciation )ental equipment
2(00
!ce supplies e'penses !ce supplies
400
%nearned ee rental &ees earned
.+00
"alary e'penses "alary payable
1400
(000
2(00
400
.+00
1400
Cash
Date 1-Dec 8-Dec 15-Dec 2#-Dec
Paid in capital Unearned fee rental Revenue earned Receiva$le"
,otal
Amount 200000
Date 1-Dec
8000 12000 2000
1-Dec 12-Dec 2%-Dec 2&-Dec 2)-Dec #1-Dec
222000
Equipment
Amount 140000
Advance Rent Salar E!pen"e" Salar E!pen"e" Eart' (over" Pre paid in"urance *lo"in+ $alance ,otal
12000 5200 5200 %00 )%00 4)400 222000
*a"'
Amount 200000
Depreciation *lo"in+ $alance ,otal
Amount 2500 2#&500 240000
Equipment
Amount 100000
Paid in capital
Date
Amount
Date 1-Dec
Equipments
Date 1-Dec 1-Dec
*a"' .ote" paa$le ,otal
Amount 140000 100000 240000
Date #1-Dec #1-Dec
Notes payable
Date
Amount
Date 1-Dec
Office Supplies
Date
Amount 4-Dec
(odern /ffice
1000
Date #1-Dec
Amount /ffice "upplie" e!pen"e"
400
/ffice Supplie"
Amount 1000
*a"'
Amount 8000
,otal
8000
Modern Office
Date
Amount
Date 4-Dec
Unearned fee rental
Date #1-Dec #1-Dec
Revenue Earned *lo"in+ $alance ,otal
Amount #&00 4#00 8000
Date 8-Dec
Salary Epenses
Date 12-Dec
*a"'
Amount 5200
Date #1-Dec
P account
Amount 11800
2%-Dec
*a"'
#1-Dec
Salary payable ,otal
5200
1400 11800
,otal
11800
!ecei"ables
Date 15-Dec
Revenue earned
Amount Date %000 2#-Dec *a"' #1-Dec *lo"in+ $alance %000
Amount 2000 4000 %000
!e"enue Earned
Date #1-Dec
P account
,otal
Amount 21&00
Date 15-Dec 15-Dec #1-Dec
21&00
*a"' Receiva$le" Unearned fee rental ,otal
Amount 12000 %000 #&00 21&00
Repair E!pen"e"
Amount %00
Earth Mo"ers #nc
Date 2&-Dec
*a"'
Amount %00
Date 1&-Dec
!epair Epenses
Date 1&-Dec
Eart' (over" nc
Amount %00
Date
Amount
Amount Date 20000
Amount
$i"idend s
Date 28-Dec
Dividend" Paa$le
$i"idends Payable
Date
Amount
Date 28-Dec
Dividend"
Amount 20000
Pre paid #nsurance
Date 2)-Dec
*a"'
Amount )%00
Date
Amount
Date
Amount
!ent
Date #1-Dec
Advance rent
Amount 4000
Ad"ance !ent
Date 1-Dec
*a"'
Amount 12000
Date #1-Dec #1-Dec
Rent *lo"in+ $alance
Amount 4000 8000
'& , thin5 it 7ould be ethical or Patty Driver to maintain the accountin records or this company as lon as she 5eeps the interity o the records- All transactions usually have receipts and documents that come 7ith it- This 7ill help prevent accountants to commit rauds -
SUSQUEHANNA COMPREHENSIVE PROBLEM #1 Journalize the e!e"er e!e"er tran$a!tion$ tran$a!tion$ Dec 1
Cash
200000 Paid in Capital
Dec 1
Dec 1
Dec 4
Dec $
Dec 12
Dec 1(
Dec 1+
Dec 2.
Dec 2*
Dec 2+
Dec 2$
Dec 2/
200000
Equipment Ca Cash Notes Payable
240000
Cash Advance rent
12000
!ce "upplies #odern !ce
1000
Cash %nearned &ee rental
$000
"alary e'pense Ca Cash
(200
Cash )eceivables )evenue earned
12000 *000
)epair e'penses Earth #overs ,nc-
*00
Cash )e )eceivables
2000
"alary e'penses Ca Cash
(200
Earth #overs ,nc Ca Cash
*00
Dividends Dividends payable
20000
Prepaid ,nsurance
/*00
140000 100000
12000
1000
$000
(200
1$000
*00
2000
(200
*00
20000
Adjusting Entries Dec .1
Advance rent )e )ent
4000 4000
Dec .1
Dec .1
Dec .1
Dec .1
Dec .1
,nterest e'penses ,nterest payable
(000
Accumulated Depreciation )ental equipment
2(00
!ce supplies e'penses !ce supplies
400
%nearned ee rental &ees earned
.+00
"alary e'penses "alary payable
1400
(000
2(00
400
.+00
1400
Cash
Date 1-Dec 8-Dec 15-Dec 2#-Dec
Paid in capital Unearned fee rental Revenue earned Receiva$le"
,otal
Amount 200000
Date 1-Dec
8000 12000 2000
1-Dec 12-Dec 2%-Dec 2&-Dec 2)-Dec #1-Dec
222000
Equipment
Amount 140000
Advance Rent Salar E!pen"e" Salar E!pen"e" Eart' (over" Pre paid in"urance *lo"in+ $alance ,otal
12000 5200 5200 %00 )%00 4)400 222000
*a"'
Amount 200000
Depreciation *lo"in+ $alance ,otal
Amount 2500 2#&500 240000
Equipment
Amount 100000
Paid in capital
Date
Amount
Date 1-Dec
Equipments
Date 1-Dec 1-Dec
*a"' .ote" paa$le ,otal
Amount 140000 100000 240000
Date #1-Dec #1-Dec
Notes payable
Date
Amount
Date 1-Dec
Office Supplies
Date
Amount 4-Dec
(odern /ffice
1000
Date #1-Dec
Amount /ffice "upplie" e!pen"e"
400
/ffice Supplie"
Amount 1000
*a"'
Amount 8000
,otal
8000
Modern Office
Date
Amount
Date 4-Dec
Unearned fee rental
Date #1-Dec #1-Dec
Revenue Earned *lo"in+ $alance ,otal
Amount #&00 4#00 8000
Date 8-Dec
Salary Epenses
Date 12-Dec
*a"'
Amount 5200
Date #1-Dec
P account
Amount 11800
2%-Dec
*a"'
#1-Dec
Salary payable ,otal
5200
1400 11800
,otal
11800
!ecei"ables
Date 15-Dec
Revenue earned
Amount Date %000 2#-Dec *a"' #1-Dec *lo"in+ $alance %000
Amount 2000 4000 %000
!e"enue Earned
Date #1-Dec
P account
,otal
Amount 21&00
Date 15-Dec 15-Dec #1-Dec
21&00
*a"' Receiva$le" Unearned fee rental ,otal
Amount 12000 %000 #&00 21&00
Repair E!pen"e"
Amount %00
Earth Mo"ers #nc
Date 2&-Dec
*a"'
Amount %00
Date 1&-Dec
!epair Epenses
Date 1&-Dec
Eart' (over" nc
Amount %00
Date
Amount
Amount Date 20000
Amount
$i"idend s
Date 28-Dec
Dividend" Paa$le
$i"idends Payable
Date
Amount
Date 28-Dec
Dividend"
Amount 20000
Pre paid #nsurance
Date 2)-Dec
*a"'
Amount )%00
Date
Amount
Date
Amount
!ent
Date #1-Dec
Advance rent
Amount 4000
Ad"ance !ent
Date 1-Dec
*a"'
Amount 12000
Date #1-Dec #1-Dec
Rent *lo"in+ $alance
Amount 4000 8000
'& , thin5 it 7ould be ethical or Patty Driver to maintain the accountin records or this company as lon as she 5eeps the interity o the records- All transactions usually have receipts and documents that come 7ith it- This 7ill help prevent accountants to commit rauds -
