ACG2001 – Group 2 – Assignment
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ACG2001 Principles of Accounting I – Summer I, 2023
ACG2001 Principles of Accounting I – Summer I 2023
Group Number: 2
Group member details:
Student ID Name
Student Name
1
V20008272
Luong Ngoc Vy
2
K21009345
Dang Le My Khanh
3
N21007141
La Yen Nhi
4
N21007141
Huynh Nhut Son
5
D21012901
Vu Nguyen Thuy Dan
6
K21009980
Duong Quoc Anh Khoi
1
ACG2001 Principles of Accounting I – Summer I, 2023
1.
Prepare the journal entries to record above transactions JOURNAL
Date Account Debit Credit Dec 1 Dr. Accounts Receivable Cr. Services Revenue
To change a service to a customer on credit 5000
5000
Dec 4 Dr. Equipment
Cr.Cash To purchase equipments by cash
3000
3000
Dec 8 Dr. Unearned Revenue
Cr. Services revenue
To provide services for customers already paid
800
800
Dec 13 Dr. Cash Cr. Accounts Receivable To receive cash from the service before 5000
5000
Dec 20 Dr. Supplies Cr. Accounts Payable
To buy supplies on credit 800
800
Dec 25 Dr. Dividends
Cr. Cash To buy supplies on credit 200
200
Dec 31 Dr. Depreciation Expense
Cr. Accumulated Depreciation
Pay for the supplies that bought before by cash 80
80
Dec 31 Dr. Supplies Expenses
Cr. Supplies To record the supplies expense of the company 300
300
Dec 31 Dr. Salaries Expenses
Cr. Salaries payable To pay December salary in next month
1800
1800
2
ACG2001 Principles of Accounting I – Summer I, 2023
2.
Prepare the Adjusted trial balance as at December 31, 20x3
COMPANY A
Adjusted trial balance
December 31, 20x3
Account
Debit
Credit Cash
$9,300 Accounts receivable 5,400 Supplies 300
Equipment 6,500
Accumulated Depreciation $ 680
Accounts Payable 2,800
Salaries payable
1,000
Unearned revenue 800
Common stock 8,000
Dividends 700
Services Revenue 13,300
Salaries expenses 2,600
Depreciation Expense 680
Utility Expense 100
Supplies Expenses
1,000
Total $26,580
$26,580
3
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December 31, 2014 and 2013
Dec. 31, 2014
Dec. 31, 2013
Assets
bloe
Current assets:
Cash.
Marketable securities
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$ 400,000
1,000,000
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E10.1 (LO 1) (Acquisition Costs of Realty) The following expenditures and receipts are related to land, land improvements, and buildings acquired for use in a business enterprise. The receipts are
enclosed in parentheses.
a. Money borrowed to pay building contractor (signed a note)
$(275,000)
b. Payment for construction from note proceeds
275,000
c. Cost of land fill and clearing
8,000
d. Delinquent real estate taxes on property assumed by purchaser
7,000
e. Premium on 6-month insurance policy during construction
6,000
f. Refund of 1-month insurance premium because construction completed early
(1,000)
g. Architect's fee on building
22,000
h. Cost of real estate purchased as a plant site (land $200,000 and building $50,000)
250,000
i. Commission…
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- Accounting Information SystemsFinanceISBN:9781337552127Author:Ulric J. Gelinas, Richard B. Dull, Patrick Wheeler, Mary Callahan HillPublisher:Cengage Learning
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