Complete Accounting Cycle Exercise

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4.1 Jan Jansen opened Jan's Window Wasing on July 1, 2002. During July the following transactions
were completed. July 1 Invested $8,000 cash in business. 1 Purchased used truck for $6,000, paying $3,000 cash and the balance on account.  3 Purchased cleaning supplies for $900 on account.  5 Paid $1,200 cash on one‐year insurance plicy effective March 1. 12 Billed customers $2,500 for cleaning servies. 18 Paid $1,000 cash on amount owed on truck and $500 on amount owed on cleaning supplies. 20 Paid $1,200 cash for employee salaries. 21 Collected $1,400 cash from customers billed on July 12. 25 Billed customers $3,000 for cleaning services. 31 Paid gas and oil for month on truck $200. 31 Withdrew $600 cash for personal use.  The chart of accounts for Jan's Window Washing contains the following accounts: No. 101 Cash, No. 112 Accounts Receivable, No. 128 Cleaning Supplies, No. 130 Prepaid Insurance, No. 157  Equipment, No. 158 Accumulated depreciation‐Equipment, No. 201 Accounts Payable, No. 212 Salaries Payable, No. 301 Jan Jansen, Capital, No. 306 Jan Jansen, Drawing, No. 350 Income Summary,  No. 400 Fees Earned, No. 633 Gas & Oil Expense, No. 634 Cleaning Supplies Expense, No. 711 Depreciation Expense, No.722 Insurance Expense, No. 726 Salaries Expense.

Instructions:
a. b. c. Journalize and post the July transactions. Use J1 for the Journal and the three column form of account. Prepare a trial balance at July 31 on a work sheet. Enter the following adjustments on the work sheet and complete the work sheet. 1 Earned but unbilled fees at July 31 was $1,100. 2 Depreciatoin on equipment for the month was $200. 3 One‐twelfth of the insurance expired. 4 An inventory count shows $600 of cleaning supplies on hand at July 31.  5 Accured but unpaid employee salaries were $500. d. e. f. g. Prepare the Income Statement and Owner's Equity Statement for July and a Classisfied  Balance Sheet at July 31. Journalize and post adjusting entries. Use page J2 for the Journal. Journalize and post closing entries and completed closing process. Use page J3 for the Journal. Prepare a Post‐Closing Trial Balance at July 31.

Promotion 9, Year I, Semester II, Stage I, Group D'1, Room E‐107     Mr. Proeun That  Tel: 089 92 57 82

4.1

a

General Journal
Date 
July 1

J1 Ref.
101 301 157 101 201 128 201

Account Title and Explantion
Cash Jan Jansen, Capital
(Invested cash in the business)

Debit
8,000

Credit

8,000 6,000 3,000 3,000 900 900

1

Equipment  Cash Accounts Payable 
(Purchased use truck paid half of amount)

3

Cleaning Supplies  Accounts Payable 
(Purchased cleaning supplies on account)

5

Prepaid Insurance  Cash 
(Paid cash for one‐year insurance policy)

130 101 112 400 201 101 736 101 101 112 112 400 633 101 306 101

1,200 1,200 2,500 2,500 1,500 1,500 1,200 1,200 1,400 1,400 3,000 3,000 200 200 600 600

12

Accounts Receivable Fees Earned 
(Billed customer for cleaing services)

18

Accounts Payable  Cash
(Paid cash amount owed on truck and supplies)

20

Salaries Expense  Cash
(Paid salries for employee)

21

Cash Accounts Receivable 
(Collected cash from customer bill on July 12)

25

Accounts Receivable  Fees Earned 
(Billed customeer for cleaning services)

31

Gas & Oil Expense  Cash 
(Paid cash for gas and oil bill)

31

Jan Jansen, Drawing Cash
(Owner withdrew for personal use)

Promotion 9, Year I, Semester II, Stage I, Group D'1, Room E‐107    Mr. Proeun That  Tel: 089 92 57 82

4.1 a

Page 1 of 2

General Ledger
Cash
Date
July, 1 1 5 18 20 21 31 31

Explanation
Invested Cash in business Purchased truck paid half of amount Paid cash for one‐year insurance policy Paid account owed on truck and supplies Paid cash for employee salaries  Collected cash from customer billed  Paid cash for gas and oil on truck Owner's withdrew for personal use

Ref.
J1 J1 J1 J1 J1 J1 J1 J1

Debit 8,000

Credit 3,000 1,200 1,500 1,200

1,400 200 600

No. 101 Balance 8,000 5,000 3,800 2,300 1,100 2,500 2,300 1,700 No. 112 Balance 2,500 1,100 4,100 No. 128 Balance 900

Accounts Receivable
Date
July, 12 21 25

Explanation
Billed customer for cleaning services  Collected cash from customer bill  Billed customer for cleaning services 

Ref.
J1 J1 J1

Debit 2,500 3,000

Credit 1,400

Cleaning Supplies 
Date
July, 3

Explanation
Purchased cleaning supplies on credit

Ref.
J1

Debit 900

Credit

Prepaid Insurance 
Date
July, 5

Explanation
Paid cash for one‐year insurance policy

Ref.
J1

Debit 1,200

Credit

No. 130 Balance 1,200

Equipment
Date
July, 1

Explanation
Purchase use truck

Ref.
J1

Debit 6,000

Credit

No. 157 Balance 6,000

Accumulated Depreciation‐Equipment
Date Explanation Ref. Debit Credit

No. 158 Balance

Accounts Payable 
Date
July, 1 3 28

Explanation
Purchased use truck paid half of amount Purchased cleaning supplies on credit Paid amount owed on truck and supplies

Ref.
J1 J1 J1

Debit 1,500

Credit 3,000 900

No. 201 Balance 3,000 3,900 2,400

Salaries Payble
Date Explanation Ref. Debit Credit

No. 212 Balance

4.1 a

Promotion 9, Year I, Semester II, Stage I, Group D'1, Room E‐107     Mr. Proeun That  Tel: 089 92 57 82

Page 2 of 2

Jan Jansen, Capital
Date
July, 1

Explanation
Invested cash in the business

Ref.
J1

Debit

Credit 8,000

No. 301 Balance 8,000

Jan Jansen, Drawing
Date
July, 31

Explanation
Owner withdrew for personal use

Ref.
J1

Debit 600

Credit

No. 306 Balance 600

Income Summary
Date Explanation Ref. Debit Credit

No. 350 Balance

Fees Earned 
Date
July, 12 25

Explanation
Billed customer for cleaing services Billed customer for cleaing services

Ref.
J1 J1

Debit

Credit 2,500 3,000

No. 400 Balance 2,500 5,500

Gas and Oil Expense 
Date
July, 31

Explanation
Paid cash for gas and oil on truck

Ref.
J1

Debit 200

Credit

No. 633 Balance 200

Cleaning Supplies Expense 
Date Explanation Ref. Debit Credit

No. 634 Balance

Depreciation Expense 
Date Explanation Ref. Debit Credit

No. 711 Balance

Insurance Expense 
Date Explanation Ref. Debit Credit

No. 722 Balance

Salaries Expense 
Date
July, 20

Explanation
Paid cash for employee salries 

Ref.
J1

Debit 1,200

Credit

No. 726 Balance 1,200

4.1 a

Promotion 9, Year I, Semester II, Stage I, Group D'1, Room E‐107     Mr. Proeun That  Tel: 089 92 57 82

Jan's Window Washing  Work Sheet For the month ended July, 31
Account Title 
Cash Accounts Receivable Cleaning Supplies Prepaid Insurance  Equipment  Accounts Payable  H. Kohl, Capital H. Kohl, Drawing Fees Earned  Gas and Oil Expense Salaries Expense  Total Accumulated depre. Equip. Depreciation Expense  Insurance Expense  Cleaning Supplies Expense  Salaries Payable Total Net Income  Total

Trial Balance  Dr. 1,700 4,100 900 1,200 6,000 Cr.

Adjustment Dr. (1) 1,100 (4) 300 (3) 100 Cr.

2,400 8,000 600 5,500 200 1,200 15,900 (5) 400 15,900 (2) 200 (2) 200 (3) 100 (4) 300 2,100 (5) 400 2,100 (1) 1,100

Adjusted Trial  Income Statement Balance  Dr. Cr. Dr. Cr. 1,700 5,200 600 1,100 6,000 2,400 8,000 600 6,600 6,600 200 200 1,600 1,600 200 200 100 300 17,600 400 17,600 200 100 300 2,400 4,200 6,600 6,600 6,600

Balance Sheet Dr. 1,700 5,200 600 1,100 6,000 Cr.

2,400 8,000 600

200

15,200 15,200

400 11,000 4,200 15,200

4.1 b and c

Promotion 9, Year I, Semester II, Stage I, Group D'1, Room E‐107     Mr. Proeun That  Tel: 089 92 57 82

Page 1 of 2

Jan's Window Washing Income Statemet For the month ended July, 31
Revenues
Fees Earned 

$      6,600 $     200 $  1,600 $     200 $     100 $     300 2,400 $      $      4,200

Expenses 
Gas & Oil Expense Salaries Expense Depreciation Expense Insurance Expense Cleaning Supplies Expense

Total Expenses Net Income

Jan's Window Washing Statement of Owner's Equity For the month ended July, 31
Jan Jansen, Capital July 1 Add: Investments Net Revenue  Less: Drawings Jan Jansen, Capital July 31

$             ‐ $      8,000 $      4,200 $  12,200 $        600 $  11,600

4.1 d

Promotion 9, Year I, Semester II, Stage I, Group D'1, Room E‐107     Mr. Proeun That  Tel: 089 92 57 82

Page 2 of 2

Jan's Window Washing Balance Sheet For the month ended July, 31
Assets
Current Assets Cash Accounts Receivable Cleaning Supplies Prepaid Insurance  Total Current Assets Property, Plant, and Equipment Equipment Less: Accumulated depreciation‐equipment

$      1,700 $      5,200 $        600 $      1,100 $      8,600 $  6,000 $     200

$      5,800 $  14,400

Total Assets Liabilities and Owner's Equipty
Current Liablities  Accounts Payable Salaries Payable  Total Current Liablities 

$      2,400 $        400 $      2,800 $      2,800

Total Liablities 
Owner's Equity Jan Jansen, Capital

$  11,600 $  14,400

Total Liabilities and Owner's Equity

4.1 d

Promotion 9, Year I, Semester II, Stage I, Group D'1, Room E‐107     Mr. Proeun That  Tel: 089 92 57 82

4.1 e

General Journal
Date 
July, 31 1

J2 Ref. Debit Credit

Account Title and Explantion Adjusting Entry
Accounts Receivable Fees Earned 
(To record accrued reveneu)

112 400

1,100 1,100

2

Depreciation Expense  Accumulated depre. Equipment
(To record monthly depreciation on equipment)

711 158

200 200

3

Insurance Expense  Prepaid Insurance 
(To record insurance expired)

722 130

100 100

4

Cleaning Supplies Expense  Cleaning Supplies 
(To record Supplies used)

634 128

300 300

5

Salaries Expense  Salaries Payable 
(To record accued salaries)

726 212

400 400

Promotion 9, Year I, Semester II, Stage I, Group D'1, Room E‐107    Mr. Proeun That  Tel: 089 92 57 82

4.1

Page 1 of 2

General Ledger
Cash
Date
July, 1 1 5 18 20 21 31 31

Explanation
Invested Cash in business Purchased truck paid half of amount Paid cash for one‐year insurance policy Paid account owed on truck and supplies Paid cash for employee salaries  Collected cash from customer billed  Paid cash for gas and oil on truck Owner's withdrew for personal use

Ref.
J1 J1 J1 J1 J1 J1 J1 J1

Debit 8,000

Credit 3,000 1,200 1,500 1,200

1,400 200 600

No. 101 Balance 8,000 5,000 3,800 2,300 1,100 2,500 2,300 1,700 No. 112 Balance 2,500 1,100 4,100 5,200 No. 128 Balance 900 600 No. 130 Balance 1,200 1,100 No. 157 Balance 6,000

Accounts Receivable
Date
July, 12 21 25 31

Explanation
Billed customer for cleaning services  Collected cash from customer bill  Billed customer for cleaning services  Adj. Entry

Ref.
J1 J1 J1 J2

Debit 2,500 3000 1,100

Credit 1,400

Cleaning Supplies 
Date
July, 3 31

Explanation
Purchased cleaning supplies on credit Adj. Entry

Ref.
J1 J2

Debit 900

Credit 300

Prepaid Insurance 
Date
July, 5 31

Explanation
Paid cash for one‐year insurance policy Adj. Entry

Ref.
J1 J2

Debit 1,200

Credit 100

Equipment
Date
July, 1

Explanation
Purchase use truck

Ref.
J1

Debit 6,000

Credit

Accumulated Depreciation‐Equipment
Date
July, 31 Adj. Entry

Explanation

Ref.
J2

Debit

Credit 200

No. 158 Balance 200

Accounts Payable 
Date
July, 1 3 28

Explanation
Purchased use truck paid half of amount Purchased cleaning supplies on credit Paid amount owed on truck and supplies

Ref.
J1 J1 J1

Debit 1,500

Credit 3,000 900

No. 201 Balance 3,000 3,900 2,400

Salaries Payble
Date
July, 31 Adj. Entry

Explanation

Ref.
J2

Debit

Credit 400

No. 212 Balance 400

4.1 e

Promotion 9, Year I, Semester II, Stage I, Group D'1, Room E‐107     Mr. Proeun That  Tel: 089 92 57 82

Page 2 of 2

Jan Jansen, Capital
Date
July, 1

Explanation
Invested cash in the business

Ref.
J1

Debit

Credit 8,000

No. 301 Balance 8,000

Jan Jansen, Drawing
Date
July, 31

Explanation
Owner withdrew for personal use

Ref.
J1

Debit 600

Credit

No. 306 Balance 600

Income Summary
Date Explanation Ref. Debit Credit

No. 350 Balance

Fees Earned 
Date
July, 12 25 31

Explanation
Billed customer for cleaing services Billed customer for cleaing services Adj. Entry

Ref.
J1 J1 J2

Debit

Credit 2,500 3,000 1,100

No. 400 Balance 2,500 5,500 6,600 No. 633 Balance 200

Gas and Oil Expense 
Date
July, 31

Explanation
Paid cash for gas and oil on truck

Ref.
J1

Debit 200

Credit

Cleaning Supplies Expense 
Date
July, 31 Adj. Entry

Explanation

Ref.
J2

Debit 300

Credit

No. 634 Balance 300

Depreciation Expense 
Date
July, 31 Adj. Entry

Explanation

Ref.
J2

Debit 200

Credit

No. 711 Balance 200

Insurance Expense 
Date
July, 31 Adj. Entry

Explanation

Ref.
J2

Debit 100

Credit

No. 722 Balance 100

Salaries Expense 
Date
July, 20 31

Explanation
Paid cash for employee salries  Adj. Entry

Ref.
J1 J2

Debit 1,200 400

Credit

No. 726 Balance 1,200 1,600

4.1 e

Promotion 9, Year I, Semester II, Stage I, Group D'1, Room E‐107     Mr. Proeun That  Tel: 089 92 57 82

4.1 f

General Journal
Date 
July, 31 31

J3 Ref. Debit Credit

Account Title and Explantion Closing Entry (1)
Fees Earned  Income Summary
(To closing Revenue account)

400 350

6,600 6,600

(2)
31

Income Summary Gas & Oil Expense  Cleaning Supplies Expense  Depreciation Expense  Insurance Expense  Salaries Expense 
(To close Expenses account)

350 633 634 711 722 726

2,400 200 300 200 100 1,600

(3)
31

Income Summary Jan Jansen, Capital
(To close net income to capital)

350 301

4,200 4,200

(4)
31

Jan Jansen, Capital Jan Jansen, Drwaing
(To close drawing to capital)

301 306

600 600

Promotion 9, Year I, Semester II, Stage I, Group D'1, Room E‐107    Mr. Proeun That  Tel: 089 92 57 82

4.1 f

Page 1 of 2

General Ledger
Cash
Date
July, 1 1 5 18 20 21 31 31

Explanation
Invested Cash in business Purchased truck paid half of amount Paid cash for one‐year insurance policy Paid account owed on truck and supplies Paid cash for employee salaries  Collected cash from customer billed  Paid cash for gas and oil on truck Owner's withdrew for personal use

Ref.
J1 J1 J1 J1 J1 J1 J1 J1

Debit 8,000

Credit 3,000 1,200 1,500 1,200

1,400 200 600

No. 101 Balance 8,000 5,000 3,800 2,300 1,100 2,500 2,300 1,700 No. 112 Balance 2,500 1,100 4,100 5,200 No. 128 Balance 900 600 No. 130 Balance 1,200 1,100 No. 157 Balance 6,000

Accounts Receivable
Date
July, 12 21 25 31

Explanation
Billed customer for cleaning services  Collected cash from customer bill  Billed customer for cleaning services  Adj. Entry

Ref.
J1 J1 J1 J2

Debit 2,500 3000 1,100

Credit 1,400

Cleaning Supplies 
Date
July, 3 31

Explanation
Purchased cleaning supplies on credit Adj. Entry

Ref.
J1 J2

Debit 900

Credit 300

Prepaid Insurance 
Date
July, 5 31

Explanation
Paid cash for one‐year insurance policy Adj. Entry

Ref.
J1 J2

Debit 1,200

Credit 100

Equipment
Date
July, 1

Explanation
Purchase use truck

Ref.
J1

Debit 6,000

Credit

Accumulated Depreciation‐Equipment
Date
July, 31 Adj. Entry

Explanation

Ref.
J2

Debit

Credit 200

No. 158 Balance 200

Accounts Payable 
Date
July, 1 3 28

Explanation
Purchased use truck paid half of amount Purchased cleaning supplies on credit Paid amount owed on truck and supplies

Ref.
J1 J1 J1

Debit 1,500

Credit 3,000 900

No. 201 Balance 3,000 3,900 2,400

Salaries Payble
Date
July, 31 Adj. Entry

Explanation

Ref.
J2

Debit

Credit 400

No. 212 Balance 400

4.1 f

Promotion 9, Year I, Semester II, Stage I, Group D'1, Room E‐107     Mr. Proeun That  Tel: 089 92 57 82

Page 2 of 2

Jan Jansen, Capital
Date
July, 1 31 31

Explanation
Invested cash in the business Closing Entry (3) Closing Entry (4)

Ref.
J1 J3 J3

Debit 600

Credit 8,000 4,200

No. 301 Balance 8,000 12,200 11,600 No. 306 Balance 600 0 No. 350 Balance 6,600 4,200 0 No. 400 Balance 2,500 5,500 6,600 0 No. 633 Balance 200 0 No. 634 Balance 300 0 No. 711 Balance 200 0 No. 722 Balance 100 0 No. 726 Balance 1,200 1,600 0

Jan Jansen, Drawing
Date
July, 31 31

Explanation
Owner withdrew for personal use Closing Entry (4)

Ref.
J1 J3

Debit 600

Credit 600

Income Summary
Date
July, 31 31 31

Explanation
Closing Entry (1) Closing Entry (2) Closeing Entry (3)

Ref.
J3 J3 J3

Debit 2,400 4,200

Credit 6,600

Fees Earned 
Date
July, 12 25 31 31

Explanation
Billed customer for cleaing services Billed customer for cleaing services Adj. Entry Closing Entry

Ref.
J1 J1 J2 J3

Debit

Credit 2,500 3,000 1,100

6,600

Gas and Oil Expense 
Date
July, 31 31

Explanation
Paid cash for gas and oil on truck Closing Entry

Ref.
J1 J3

Debit 200

Credit 200

Cleaning Supplies Expense 
Date
July, 31 31 Adj. Entry Closing Entry

Explanation

Ref.
J2 J3

Debit 300

Credit 300

Depreciation Expense 
Date
July, 31 31 Adj. Entry Closing Entry

Explanation

Ref.
J2 J3

Debit 200

Credit 200

Insurance Expense 
Date
July, 31 31 Adj. Entry Closing Entry

Explanation

Ref.
J2 J3

Debit 100

Credit 100

Salaries Expense 
Date
July, 20 31 31

Explanation
Paid cash for employee salries  Adj. Entry Closing Entry

Ref.
J1 J2 J3

Debit 1,200 400

Credit 1,600

4.1 f

Promotion 9, Year I, Semester II, Stage I, Group D'1, Room E‐107     Mr. Proeun That  Tel: 089 92 57 82

4.1 g

Jan's Window Washing Post‐Closing Trial Balance For the month ended July, 31
Debit Cash Accounts Receivable Cleaning Supplies  Prepaid Insurance  Equipment Accumulated depreciation‐equipment Accounts Payable  Salaries Payable  Jan Jansen, Capital $       14,600 $        1,700 $        5,200 $             600 $        1,100 $        6,000 $             200 $        2,400 $             400 $       11,600 $       14,600 Credit

Promotion 9, Year I, Semester II, Stage I, Group D'1, Room E‐107    Mr. Proeun That  Tel: 089 92 57 82

4.2 Helga Hohl opened Helga's Carpet Cleaners on March 1. During, the following transactions were
completed. March  1 Invested $10,000 cash in business. 1 Purchased used truck for $6,000, paying $4,000 cash and the balance on account.  3 Purchased cleaning supplies for $1,200 on account.  5 Paid $1,800 cash on one‐year insurance plicy effective March 1. 14 Billed customers $2,800 for cleaning servies. 18 Paid $1,500 cash on amount owed on truck and $500 on amount owed on cleaning supplies. 20 Paid $1,500 cash for employee salaries. 21 Collected $1,600 cash from customers billed on March 14. 28 Billed customers $3,200 for cleaning services. 31 Paid gas and oil for month on truck $200. 31 Withdrew $900 cash for personal use.  The chart of accounts for Helga's Carpet Cleaners contains the following accounts: No. 101 Cash, No. 112 Accounts Receivable, No. 128 Cleaning Supplies, No. 130 Prepaid Insurance, No. 157  Equipment, No. 158 Accumulated depreciation‐Equipment, No. 201 Accounts Payable, No. 212 Salaries Payable, No. 301 H. Kohl, Capital, No. 306 H. Kohl, Drawing, No. 350 Income Summary,  No. 400 Fees Earned, No. 633 Gas & Oil Expense, No. 634 Cleaning Supplies Expense, No. 711 Depreciation Expense, No.722 Insurance Expense, No. 726 Salaries Expense.

Instructions:
a. b. c. Journalize and post the March transactions. Use J1 for the Journal and the three column form of account. Prepare a trial balance at March 31 on a work sheet. Enter the following adjustments on the work sheet and complete the work sheet. 1 Earned but unbilled fees at March 31 was $600. 2 Depreciatoin on equipment for the month was $250. 3 One‐twelfth of the insurance expired. 4 An inventory count shows $400 of cleaning supplies on hand at March 31.  5 Accured but unpaid employee salaries were $500. d. e. f. g. Prepare the Income Statement and Owner's Equity Statement for March and a Classisfied  Balance Sheet at March 31. Journalize and post adjusting entries. Use page J2 for the Journal. Journalize and post closing entries and completed closing process. Use page J3 for the Journal. Prepare a Post‐Closing Trial Balance at March 31.

Promotion 9, Year I, Semester II, Stage I, Group D'1, Room E‐107     Mr. Proeun That  Tel: 089 92 57 82

4.2

a

General Journal
Date 
March 1

J1 Ref.
101 301

Account Title and Explantion Cash H. Kohl, Capital
(Invested cash in the business)

Debit
10,000

Credit
10,000

1

Equipment Cash  Accounts Payable 
(Purchase use truck)

157 101 201

6,000 4,000 2,000

3

Cleaning Supplies  Accounts Payable 
(Purchased Cleaning Supplies on credit)

128 201

1,200 1,200

5

Prepaid Insurance  Cash
(Paid cash for one‐year insurance policy)

130 101

1,800 1,800

14

Accounts Receivable Fees Earned 
(Billed customer for cleaing services)

112 400

2,800 2,800

18

Accounts Payable  Cash
(Paid amount owed on truck and supplies)

201 101

2,000 2,000

20

Salaries Expense  Cash
(Paid cash for employee salaries)

726 101

1,500 1,500

21

Cash Accounts Receivable
(Collected cash from customer billed on March 14)

101 112

1,600 1,600

28

Accounts Receivable Fees Earned 
(Billed customer for cleaning services)

112 400

3,200 3,200

31

Gas & Oil Expense  Cash
(Paid cash for gas and oil on truck)

633 101

200 200

31

H. Hohl, Drawing  Cash
(Owner's withdrew for personal use)

306 101

900 900

Promotion 9, Year I, Semester II, Stage I, Group D'1, Room E‐107    Mr. Proeun That  Tel: 089 92 57 82

4.2

Page 1 of 2

General Ledger
Cash
Date
March, 1 1 5 18 20 21 31 31

Explanation
Invested Cash in business Purchased truck Paid cash for one‐year insurance  Paid account owed on truck and supplies Paid cash for employee salaries  Collected cash from customer billed  Paid cash for gas and oil on truck Owner's withdrew for personal use

Ref.
J1 J1 J1 J1 J1 J1 J1 J1

Debit 10,000

Credit 4,000 1,800 2,000 1,500

1,600 200 900

No. 101 Balance 10,000 6,000 4,200 2,200 700 2,300 2,100 1,200 No. 112 Balance 2,800 1,200 4,400 No. 128 Balance 1,200

Accounts Receivable
Date
March, 14 21 28

Explanation
Billed customer for cleaning services  Collected cash from customer bill  Billed customer for cleaning services 

Ref.
J1 J1 J1

Debit 2,800 3,200

Credit 1,600

Cleaning Supplies 
Date
March, 3

Explanation
Purchased cleaning supplies on credit

Ref.
J1

Debit 1,200

Credit

Prepaid Insurance 
Date
March, 5

Explanation
Paid cash for one‐year insurance policy

Ref.
J1

Debit 1,800

Credit

No. 130 Balance 1,800

Equipment
Date
March, 1

Explanation
Purchase use truck

Ref.
J1

Debit 6,000

Credit

No. 157 Balance 6,000

Accumulated Depreciation‐Equipment
Date Explanation Ref. Debit Credit

No. 158 Balance

Accounts Payable 
Date
March, 1 3 28

Explanation
Purchased use truck Purchased cleaning supplies on credit Paid amount owed on truck and supplies

Ref.
J1 J1 J1

Debit 2,000

Credit 2,000 1,200

No. 201 Balance 2,000 3,200 1,200

Salaries Payble
Date Explanation Ref. Debit Credit

No. 212 Balance

4.2 a

Promotion 9, Year I, Semester II, Stage I, Group D'1, Room E‐107     Mr. Proeun That  Tel: 089 92 57 82

Page 2 of 2

H. Kohl, Capital
Date
March, 1

Explanation
Invested cash in the business

Ref.
J1

Debit

Credit 10,000

No. 301 Balance 10,000

H. Kohl, Drawing
Date
March, 31

Explanation
Owner withdrew for personal use

Ref.
J1

Debit 900

Credit

No. 306 Balance 900

Income Summary
Date Explanation Ref. Debit Credit

No. 350 Balance

Fees Earned 
Date
March, 14 28

Explanation
Billed customer for cleaing services Billed customer for cleaing services

Ref.
J1 J1

Debit

Credit 2,800 3,200

No. 400 Balance 2,800 6,000

Gas and Oil Expense 
Date
March, 31

Explanation
Paid cash for gas and oil on truck

Ref.
J1

Debit 200

Credit

No. 633 Balance 200

Cleaning Supplies Expense 
Date Explanation Ref. Debit Credit

No. 634 Balance

Depreciation Expense 
Date Explanation Ref. Debit Credit

No. 711 Balance

Insurance Expense 
Date Explanation Ref. Debit Credit

No. 722 Balance

Salaries Expense 
Date
March, 20

Explanation
Paid cash for employee salries 

Ref.
J1

Debit 1,500

Credit

No. 726 Balance 1,500

4.2 a

Promotion 9, Year I, Semester II, Stage I, Group D'1, Room E‐107     Mr. Proeun That  Tel: 089 92 57 82

Helga's Carpet Cleaners  Work Sheet For the month ended March, 31
Account Title 
Cash Accounts Receivable Cleaning Supplies Prepaid Insurance  Equipment  Accounts Payable  H. Kohl, Capital H. Kohl, Drawing Fees Earned  Gas and Oil Expense Salaries Expense  Total Accumulated depre. Equip. Depreciation Expense  Insurance Expense  Cleaning Supplies Expense  Salaries Payable Total Net Income  Total

Trial Balance  Dr. 1,200 4,400 1,200 1,800 6,000 Cr.

Adjustment Dr. (1) 600 (4) 800 (3) 150 Cr.

1,200 10,000 900 6,000 200 1,500 17,200 (5) 500 17,200 (2) 250 (2) 250 (3) 150 (4) 800 2,300 (5) 500 2,300 (1) 600

Adjusted Trial  Income Statement Balance  Dr. Cr. Dr. Cr. 1,200 5,000 400 1,650 6,000 1,200 10,000 900 6,600 6,600 200 200 2,000 2,000 250 250 150 800 18,550 500 18,550 250 150 800 3,400 3,200 6,600 6,600 6,600

Balance Sheet Dr. 1,200 5,000 400 1,650 6,000 Cr.

1,200 10,000 900

250

15,150 15,150

500 11,950 3,200 15,150

4.2 b and c

Promotion 9, Year I, Semester II, Stage I, Group D'1, Room E‐107     Mr. Proeun That  Tel: 089 92 57 82

Page 1 of 2

Helga's Carpet Cleaners  Income Statemet For the month ended March, 31
Revenues
Fees Earned 

$      6,600 $     200 $  2,000 $     250 $     150 $     800 3,400 $      $      3,200

Expenses 
Gas & Oil Expense Salaries Expense Depreciation Expense Insurance Expense Cleaning Supplies Expense

Total Expenses Net Income

Helga's Carpet Cleaners  Statement of Owner's Equity For the month ended March, 31
H. Kohl, Capital March 1 Add: Investments Net Revenue  Less: Drawings H.Kohl, Capital March 31

$             ‐ $  10,000 $      3,200 $  13,200 $        900 $  12,300

4.2 d

Promotion 9, Year I, Semester II, Stage I, Group D'1, Room E‐107     Mr. Proeun That  Tel: 089 92 57 82

Page 2 of 2

Helga's Carpet Cleaners  Balance Sheet For the month ended March, 31
Assets
Current Assets
Cash Accounts Receivable Cleaning Supplies Prepaid Insurance  Total Current Assets

$      1,200 $      5,000 $        400 $      1,650 $      8,250

Property, Plant, and Equipment
Equipment Less: Accumulated depreciation‐equipment

$  6,000 $     250

$      5,750 $  14,000

Total Assets Liabilities and Owner's Equipty
Current Liablities 
Accounts Payable Salaries Payable 

$      1,200 $        500 $      1,700 $      1,700

Total Current Liablities 

Total Liablities 

Owner's Equity
H. Kohl, Capital

$  12,300 $  14,000

Total Liabilities and Owner's Equity

4.2 d

Promotion 9, Year I, Semester II, Stage I, Group D'1, Room E‐107     Mr. Proeun That  Tel: 089 92 57 82

4.2 e

General Journal
Date 
March, 31 1

J2 Ref. Debit Credit

Account Title and Explantion Adjusting Entry
Accounts Receivable Fees Earned 
(To record accrued reveneu)

112 400

600 600

2

Depreciation Expense  Accumulated depre. Equipment
(To record monthly depreciation on equipment)

711 158

250 250

3

Insurance Expense  Prepaid Insurance 
(To record insurance expired)

722 130

150 150

4

Cleaning Supplies Expense  Cleaning Supplies 
(To record Supplies used)

634 128

800 800

5

Salaries Expense  Salaries Payable 
(To record accued salaries)

726 212

500 500

Promotion 9, Year I, Semester II, Stage I, Group D'1, Room E‐107    Mr. Proeun That  Tel: 089 92 57 82

4.2

Page 1 of 2

General Ledger
Cash
Date
March, 1 1 5 18 20 21 31 31

Explanation
Invested Cash in business Purchased truck Paid cash for one‐year insurance  Paid account owed on truck and supplies Paid cash for employee salaries  Collected cash from customer billed  Paid cash for gas and oil on truck Owner's withdrew for personal use

Ref.
J1 J1 J1 J1 J1 J1 J1 J1

Debit 10,000

Credit 4,000 1,800 2,000 1,500

1,600 200 900

No. 101 Balance 10,000 6,000 4,200 2,200 700 2,300 2,100 1,200 No. 112 Balance 2,800 1,200 4,400 5,000 No. 128 Balance 1,200 400 No. 130 Balance 1,800 1,650 No. 157 Balance 6,000

Accounts Receivable
Date
March, 14 21 28 31

Explanation
Billed customer for cleaning services  Collected cash from customer bill  Billed customer for cleaning services  Adj.Entry

Ref.
J1 J1 J1 J2

Debit 2,800 3,200 600

Credit 1,600

Cleaning Supplies 
Date
March, 28 31

Explanation
Purchased cleaning supplies on credit Adj.Entry

Ref.
J1 J2

Debit 1,200

Credit 800

Prepaid Insurance 
Date
March, 5 31

Explanation
Paid cash for one‐year insurance policy Adj.Entry

Ref.
J1 J2

Debit 1,800

Credit 150

Equipment
Date
March, 3

Explanation
Purchase use truck

Ref.
J1

Debit 6,000

Credit

Accumulated Depreciation‐Equipment
Date
March, 31 Adj.Entry

Explanation

Ref.
J2

Debit

Credit 250

No. 158 Balance 250

Accounts Payable 
Date
March, 1 3 28

Explanation
Purchased use truck Purchased cleaning supplies on credit Paid amount owed on truck and supplies

Ref.
J1 J1 J1

Debit 2,000

Credit 2,000 1,200

No. 201 Balance 2,000 3,200 1,200

Salaries Payble
Date
March, 31 Adj. Entry

Explanation

Ref.
J2

Debit

Credit 500

No. 212 Balance 500

4.2 e

Promotion 9, Year I, Semester II, Stage I, Group D'1, Room E‐107     Mr. Proeun That  Tel: 089 92 57 82

Page 2 of 2

H. Kohl, Capital
Date
March, 1

Explanation
Invested cash in the business

Ref.
J1

Debit

Credit 10,000

No. 301 Balance 10,000

H. Kohl, Drawing
Date
March, 31

Explanation
Owner withdrew for personal use

Ref.
J1

Debit 900

Credit

No. 306 Balance 900

Income Summary
Date Explanation Ref. Debit Credit

No. 350 Balance

Fees Earned 
Date
March, 14 28 31

Explanation
Billed customer for cleaing services Billed customer for cleaing services Adj. Entry

Ref.
J1 J1 J2

Debit

Credit 2,800 3,200 600

No. 400 Balance 2,800 6,000 6,600 No. 633 Balance 200

Gas and Oil Expense 
Date
March, 31

Explanation
Paid cash for gas and oil on truck

Ref.
J1

Debit 200

Credit

Cleaning Supplies Expense 
Date
March, 31 Adj. Entry

Explanation

Ref.
J2

Debit 800

Credit

No. 634 Balance 800

Depreciation Expense 
Date
March, 31 Adj. Entry

Explanation

Ref.
J2

Debit 250

Credit

No. 711 Balance 250

Insurance Expense 
Date
March, 31 Adj. Entry

Explanation

Ref.
J2

Debit 150

Credit

No. 722 Balance 150

Salaries Expense 
Date
March, 20 31

Explanation
Paid cash for employee salries  Adj. Entry

Ref.
J1 J2

Debit 1,500 500

Credit

No. 726 Balance 1,500 2,000

4.2 e

Promotion 9, Year I, Semester II, Stage I, Group D'1, Room E‐107     Mr. Proeun That  Tel: 089 92 57 82

4.2 f

General Journal
Date 
March, 31 31

J3 Ref. Debit Credit

Account Title and Explantion Closing Entry (1)
Fees Earned  Income Summary
(To closing Revenue account)

400 350

6,600 6,600

(2)
31

Income Summary Gas & Oil Expense  Cleaning Supplies Expense  Depreciation Expense  Insurance Expense  Salaries Expense 
(To close Expenses account)

350 633 634 711 722 726

3,400 200 800 250 150 2,000

(3)
31

Income Summary H. Kohl, Capital
(To close net income to capital)

350 301

3,200 3,200

(4)
31

H. Kohl, Capital H. Kohl, Drwaing
(To close drawing to capital)

301 306

900 900

Promotion 9, Year I, Semester II, Stage I, Group D'1, Room E‐107    Mr. Proeun That  Tel: 089 92 57 82

4.2

Page 1 of 2

General Ledger
Cash
Date
March, 1 1 5 18 20 21 31 31

Explanation
Invested Cash in business Purchased truck Paid cash for one‐year insurance  Paid account owed on truck and supplies Paid cash for employee salaries  Collected cash from customer billed  Paid cash for gas and oil on truck Owner's withdrew for personal use

Ref.
J1 J1 J1 J1 J1 J1 J1 J1

Debit 10,000

Credit 4,000 1,800 2,000 1,500

1,600 200 900

No. 101 Balance 10,000 6,000 4,200 2,200 700 2,300 2,100 1,200 No. 112 Balance 2,800 1,200 4,400 5,000 No. 128 Balance 1,200 400 No. 130 Balance 1,800 1,650 No. 157 Balance 6,000

Accounts Receivable
Date
March, 14 21 28 31

Explanation
Billed customer for cleaning services  Collected cash from customer bill  Billed customer for cleaning services  Adj.Entry

Ref.
J1 J1 J1 J2

Debit 2,800 3,200 600

Credit 1,600

Cleaning Supplies 
Date
March, 28 31

Explanation
Purchased cleaning supplies on credit Adj.Entry

Ref.
J1 J2

Debit 1,200

Credit 800

Prepaid Insurance 
Date
March, 5 31

Explanation
Paid cash for one‐year insurance policy Adj.Entry

Ref.
J1 J2

Debit 1,800

Credit 150

Equipment
Date
March, 3

Explanation
Purchase use truck

Ref.
J1

Debit 6,000

Credit

Accumulated Depreciation‐Equipment
Date
March, 31 Adj.Entry

Explanation

Ref.
J2

Debit

Credit 250

No. 158 Balance 250

Accounts Payable 
Date
March, 1 3 28

Explanation
Purchased use truck Purchased cleaning supplies on credit Paid amount owed on truck and supplies

Ref.
J1 J1 J1

Debit 2,000

Credit 2,000 1,200

No. 201 Balance 2,000 3,200 1,200

Salaries Payble
Date
March, 31 Adj. Entry

Explanation

Ref.
J2

Debit

Credit 500

No. 212 Balance 500

4.2 f

Promotion 9, Year I, Semester II, Stage I, Group D'1, Room E‐107     Mr. Proeun That  Tel: 089 92 57 82

Page 2 of 2

H. Kohl, Capital
Date
March, 1 31 31

Explanation
Invested cash in the business Closing Entry (3) Closing Entry (4)

Ref.
J1 J3 J3

Debit 900

Credit 10,000 3,200

No. 301 Balance 10,000 13,200 12,300 No. 306 Balance 900 0 No. 350 Balance 6,600 3,200 0 No. 400 Balance 2,800 6,000 6,600 0 No. 633 Balance 200 0 No. 634 Balance 800 0 No. 711 Balance 250 0 No. 722 Balance 150 0 No. 726 Balance 1,500 2,000 0

H. Kohl, Drawing
Date
March, 31 31

Explanation
Owner withdrew for personal use Closing Entry (4)

Ref.
J1 J3

Debit 900

Credit 900

Income Summary
Date
March, 31 31 31

Explanation
Closing Entry (1) Closing Entry (2) Closing Entry (3)

Ref.
J3 J3 J3

Debit 3,400 3,200

Credit 6,600

Fees Earned 
Date
March, 14 28 31 31

Explanation
Billed customer for cleaing services Billed customer for cleaing services Adj. Entry Closing Entry

Ref.
J1 J1 J2 J3

Debit

Credit 2,800 3,200 600

6,600

Gas and Oil Expense 
Date
March, 31 31

Explanation
Paid cash for gas and oil on truck Closing Entry (2)

Ref.
J1 J3

Debit 200

Credit 200

Cleaning Supplies Expense 
Date
March, 31 31

Explanation
Adj. Entry Closing Entry (2)

Ref.
J2 J3

Debit 800

Credit 800

Depreciation Expense 
Date
March, 31 31

Explanation
Adj. Entry Closing Entry (2)

Ref.
J2 J3

Debit 250

Credit 250

Insurance Expense 
Date
March, 31 31

Explanation
Adj. Entry Closing Entry (2)

Ref.
J2 J3

Debit 150

Credit 150

Salaries Expense 
Date
March, 20 31 31

Explanation
Paid cash for employee salries  Adj. Entry Closing Entry (2)

Ref.
J1 J2 J3

Debit 1,500 500

Credit 2,000

4.2 f

Promotion 9, Year I, Semester II, Stage I, Group D'1, Room E‐107     Mr. Proeun That  Tel: 089 92 57 82

4.2 g

Helga's Carpet Cleaners  Post‐Closing Trial Balance For the month ended March, 31
Debit Cash Accounts Receivable Cleaning Supplies  Prepaid Insurance  Equipment Accumulated depreciation‐equipment Accounts Payable  Salaries Payable  H. Kohl, Capital $       14,250 $        1,200 $        5,000 $             400 $        1,650 $        6,000 $             250 $        1,200 $             500 $       12,300 $       14,250 Credit

Promotion 9, Year I, Semester II, Stage I, Group D'1, Room E‐107    Mr. Proeun That  Tel: 089 92 57 82

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