ACG2001 – Group 2 – Assignment

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University of South Florida, Tampa *

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MISC

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Accounting

Date

Feb 20, 2024

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docx

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8

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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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