Question
In: Accounting
I need the general ledger, trial balance, income statement, statement of owner's equity, and balance sheet...
I need the general ledger, trial balance, income statement, statement of owner's equity, and balance sheet
| (1) | SMITH COMPUTER CENTER | ||||||||||||
| GENERAL JOURNAL | PAGE 1 | ||||||||||||
| Date | Account Titles and Description | PR | Dr. | Cr. | |||||||||
| Sept. | 1 | Cash | 5 | 6 | 0 | 0 | |||||||
| Smith C. Capital | 5 | 6 | 0 | 0 | |||||||||
| Owner Investment | |||||||||||||
| 1 | Equipment | 1 | 8 | 0 | 0 | ||||||||
| Cash | 1 | 8 | 0 | 0 | |||||||||
| Bought equipment for cash | |||||||||||||
| 1 | Equipment | 2 | 1 | 0 | 0 | ||||||||
| Cash | 2 | 1 | 0 | 0 | |||||||||
| Bought equipment for cash | |||||||||||||
| 1 | Account Receivable | 1 | 7 | 0 | 0 | ||||||||
| Cash | 1 | 7 | 0 | 0 | |||||||||
| Computer fixed | |||||||||||||
| 1 | Account Receivable | 2 | 7 | 0 | 0 | ||||||||
| Net 15 days | 2 | 7 | 0 | 0 | |||||||||
| 1 | Office equipment | 3 | 3 | 0 | 0 | ||||||||
| account payable | 3 | 3 | 0 | 0 | |||||||||
| purchase computer equipment on a account | |||||||||||||
| 1 | Computer Supplies | 2 | 0 | 0 | |||||||||
| account payable | 2 | 0 | 0 | ||||||||||
| 1 | Pre paid rent | 1 | 5 | 0 | 0 | ||||||||
| cash #1025 | 1 | 5 | 0 | 0 | |||||||||
| 1 | Cash | 6 | 0 | 0 | 0 | ||||||||
| Service Revenue | 6 | 0 | 0 | 0 | |||||||||
| 2 | Cash | 4 | 5 | 0 | |||||||||
| Service Revenue | 4 | 5 | 0 | ||||||||||
| 6 | Cash | 1 | 5 | 0 | |||||||||
| Service Revenue | 1 | 5 | 0 | ||||||||||
| 26 | Cash | 7 | 5 | 0 | |||||||||
| Service Revenue | 7 | 5 | 0 | ||||||||||
| 28 | Cash | 2 | 7 | 0 | 0 | ||||||||
| Service Revenue | 2 | 7 | 0 | 0 | |||||||||
| 1 | Smith, C Withdrawals | 1 | 7 | 5 | |||||||||
| cash | 1 | 7 | 5 | ||||||||||
| 1 | Advertising Expense | 9 | 0 | 0 | |||||||||
| Account Payable | 9 | 0 | 0 | ||||||||||
| 1 | Rent Expense | 5 | 0 | 0 | |||||||||
| Cash | 5 | 0 | 0 | ||||||||||
| 1 | Utility Expense | 7 | 0 | ||||||||||
| Cash | 7 | 0 | |||||||||||
| 1 | Insurance Expense | 4 | 5 | 0 | |||||||||
| Cash | 4 | 5 | 0 | ||||||||||
| 1 | Postage Expense | 7 | 0 | ||||||||||
| Cash | 7 | 0 | |||||||||||
| 20 | Phone Expense | 3 | 5 | ||||||||||
| Cash | 3 | 5 | |||||||||||
| 22 | Electrical bill | 8 | 5 | ||||||||||
| Cash | 8 | 5 | |||||||||||
Solutions
Expert Solution
| GENERAL LEDGER | ||||||||||||||||||||||
| CASH | ||||||||||||||||||||||
| Date | Description | Debit | Credit | |||||||||||||||||||
| Sep | 1 | Owners capital | $5,600 | |||||||||||||||||||
| Sep | 1 | Equipment | $1,800 | |||||||||||||||||||
| Sep | 1 | Equipment | $2,100 | |||||||||||||||||||
| Sep | 1 | Prepaid Rent | $1,500 | |||||||||||||||||||
| Sep | 1 | Service Revenue | $6,000 | |||||||||||||||||||
| Sep | 1 | Owners Withdrawal | $175 | |||||||||||||||||||
| Sep | 1 | Rent Expense | $500 | |||||||||||||||||||
| Sep | 1 | Utilities Expense | $70 | |||||||||||||||||||
| Sep | 1 | Insurance Expense | $450 | |||||||||||||||||||
| Sep | 1 | Postage expense | $70 | |||||||||||||||||||
| Sep | 1 | Phone expense | $35 | |||||||||||||||||||
| Sep | 1 | Electricity expense | $85 | |||||||||||||||||||
| Sep | 2 | Service Revenue | $450 | |||||||||||||||||||
| Sep | 6 | Service Revenue | $150 | |||||||||||||||||||
| Sep | 26 | Service Revenue | $750 | |||||||||||||||||||
| Sep | 28 | Service Revenue | $2,700 | |||||||||||||||||||
| Ending Balance | $8,865 | |||||||||||||||||||||
| ACCOUNTS RECEIVABLE | These entries appear to be wrong | Net 15 days is not an account | Sales is credited when Accounts Receivable is debited | |||||||||||||||||||
| Date | Description | Debit | Credit | |||||||||||||||||||
| 1 | Account Receivable | 1 | 7 | 0 | 0 | |||||||||||||||||
| Cash | 1 | 7 | 0 | 0 | ||||||||||||||||||
| Computer fixed | ||||||||||||||||||||||
| 1 | Account Receivable | 2 | 7 | 0 | 0 | |||||||||||||||||
| Net 15 days | 2 | 7 | 0 | 0 | ||||||||||||||||||
| COMPUTER SUPPLIES | ||||||||||||||||||||||
| Date | Description | Debit | Credit | |||||||||||||||||||
| Sep | 1 | Accounts Payable | $200 | |||||||||||||||||||
| PREPAID RENT | ||||||||||||||||||||||
| Date | Description | Debit | Credit | |||||||||||||||||||
| Sep | 1 | Cash | $1,500 | |||||||||||||||||||
| EQUIPMENT | ||||||||||||||||||||||
| Date | Description | Debit | Credit | |||||||||||||||||||
| Sep | 1 | Cash | $1,800 | |||||||||||||||||||
| Sep | 1 | Cash | $2,100 | |||||||||||||||||||
| Ending Balance | $3,900 | |||||||||||||||||||||
| OFFICE EQUIPMENT | ||||||||||||||||||||||
| Date | Description | Debit | Credit | |||||||||||||||||||
| Sep | 1 | Accounts payable | $3,300 | |||||||||||||||||||
| ACCOUNTS PAYABLE | ||||||||||||||||||||||
| Date | Description | Debit | Credit | |||||||||||||||||||
| Sep | 1 | Office Equipment | $3,300 | |||||||||||||||||||
| Sep | 1 | Computer Supplies | $200 | |||||||||||||||||||
| Sep | 1 | Advertising expense | $900 | |||||||||||||||||||
| Ending Balance | $4,400 | |||||||||||||||||||||
| OWNERS CAPITAL | ||||||||||||||||||||||
| Date | Description | Debit | Credit | |||||||||||||||||||
| Sep | 1 | Cash | $5,600 | |||||||||||||||||||
| OWNERS WITHDRAWAL | ||||||||||||||||||||||
| Date | Description | Debit | Credit | |||||||||||||||||||
| Sep | 1 | Cash | $175 | |||||||||||||||||||
| SERVICE REVENUE | ||||||||||||||||||||||
| Date | Description | Debit | Credit | |||||||||||||||||||
| Sep | 1 | Cash | $6,000 | |||||||||||||||||||
| Sep | 2 | Cash | $450 | |||||||||||||||||||
| Sep | 6 | Cash | $150 | |||||||||||||||||||
| Sep | 26 | Cash | $750 | |||||||||||||||||||
| Sep | 28 | Cash | $2,700 | |||||||||||||||||||
| Ending Balance | $10,050 | |||||||||||||||||||||
| ADVERTISING EXPENSE | ||||||||||||||||||||||
| Date | Description | Debit | Credit | |||||||||||||||||||
| Sep | 1 | Accounts Payable | $900 | |||||||||||||||||||
| RENT EXPENSE | ||||||||||||||||||||||
| Date | Description | Debit | Credit | |||||||||||||||||||
| Sep | 1 | Cash | $500 | |||||||||||||||||||
| UTILITY EXPENSE | ||||||||||||||||||||||
| Date | Description | Debit | Credit | |||||||||||||||||||
| Sep | 1 | Cash | $70 | |||||||||||||||||||
| INSURANCE EXPENSE | ||||||||||||||||||||||
| Date | Description | Debit | Credit | |||||||||||||||||||
| Sep | 1 | Cash | $450 | |||||||||||||||||||
| POSTAGE EXPENSE | ||||||||||||||||||||||
| Date | Description | Debit | Credit | |||||||||||||||||||
| Sep | 1 | Cash | $70 | |||||||||||||||||||
| PHONE EXPENSE | ||||||||||||||||||||||
| Date | Description | Debit | Credit | |||||||||||||||||||
| Sep | 1 | Cash | $35 | |||||||||||||||||||
| ELECTRICITY EXPENSE | ||||||||||||||||||||||
| Date | Description | Debit | Credit | |||||||||||||||||||
| Sep | 1 | Cash | $85 | |||||||||||||||||||
|
Due to limitation of number of characteres, Screen shots of Income Statement, Owners Equity and Balance sheets are uploaded
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ekkarill92 answered 2 years agoRelated Solutions
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1.00
0.99
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