Professional Documents
Culture Documents
PROBLEM #1
Debit Credit
Cash 80,950
Accounts Receivable 14,000
Supplies 2,300
Office Equipment 11,000
Accounts Payable 15,300
Unearned Service Revenue 3,000
Shultz, Capital 90,000
Service Revenue 2,500
Salaries Expense 750
Rent Expense 1,000
Utilities Expense 800
Totals 110,800 110,800
PROBLEM #3
Trial Balance Adjustments Adjusted Trial Bal. Income Statement Balance Sheet
Accounts Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit
Cash 12,000 12,000 12,000
Accounts Receivable 24,000 24,000 24,000
Prepaid Insurance 2,400 B) 400 2,000 2,000
Supplies 1,000 A) 500 500 500
Equipment 25,000 25,000 25,000
Accum. Deprec.-Equip. 2,000 C) 400 2,400 2,400
Accounts Payable 5,000 5,000 5,000
Unearned Service Fees 8,000 D) 4,000 4,000 4,000
Hank-Capital 19,000 19,000 19,000
Hank-Drawing 4,000 4,000 4,000
Service Revenue 44,000 D) 4,000 48,000 48,000
Salaries Expense 8,000 E) 1,000 9,000 9,000
Rent Expense 1,600 1,600 1,600
Totals 78,000 78,000
Supplies Expense A) 500 500 500
Insurance Expense B) 400 400 400
Depreciation Expense C) 400 400 400
Salaries Payable E) 1,000 1,000 1,000
6,300 6,300 79,400 79,400 11,900 48,000 67,500 31,400
Net Income 36,100 36,100
48,000 48,000 67,500 67,500