Sub: Finance
Topic: Journal Entries
Question:
Posting Journal entries into a worksheet
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The following are the balances in the accounts for Joan Miller Advertising Agency as of January
31, 2001:
Cash
Accounts Receivable
Fees Receivable
Art Supplies
Office Supplies
Prepaid Rent
Prepaid Insurance
Art Equipment
Accumulated Depreciation, Art eq. Office Equipment
Accumulated Depreciation –
Office Eq.
Accounts Payable
Unearned Art Fees
Wages Payable
Joan Miller, Capital
Totals
Debit
Credit
…show more content…
Required:
Prepare the general journal entries or enter into a worksheet the transactions completed in
February, 2001
Solution:
Joan Miller Advertising Agency
Worksheet
Trial Balance
Transactions
1/31/2001
Name of the Account
Debit
Cash
$1,720
Accounts Receivable
Fees Receivable
Art Supplies
Credit
2800
200
1300
February
Debit
$12,23
0
3400
Trial Balance
2/28/2001
(Unadjusted)
Credit
Debit
$5,810
$8,140
2800
200
Credit
$3,400
$0
$1,300
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*The Homework solutions from ClassOf1 are intended to help the student understand the approach to solving the problem and not for submitting the same in lieu of your academic submissions for grades.
Sub: Finance
Topic: Journal Entries
Office Supplies
Prepaid Rent
Prepaid Insurance
Art Equipment
Accumulated Depreciation, Art Eq.
Office Equipment
Accumulated Depreciation, Office
Eq.
Accounts Payable
Unearned Art Fees
Wages Payable
600
400
440
4200
580
400
$70
3000
$70
4300
$7,300
50
3170
600
180
Joan Miller, Capital
$50
1570
600
180
10590
Joan Miller, Withdrawals
Fees Earned
Wages Expense
Utilities Expense
Telephone Expense
Total
$1,180
$800
$440
$4,200
2430
1800
$4,030
$1,800
$0
$17,99
0
7400
1400
$1,400
5430
$14,66
0
$14,66
0
1020
110
80
$25,87
0
$25,87
0
$5,430
$1,020
$110
$80
$29,37
0
$29,37
0
** End of the
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