Complete Accounting Cycle Exercise

5/28/2018 Complete Accounting Cycle Exercise

1/28

4.1 JanJansenopenedJan'sWindowWasingonJuly1,2002.DuringJulythefollowingtransactions

werecompleted.

July 1 Invested$8,000cashinbusiness.

1 Purchasedusedtruckfor$6,000,paying$3,000cashandthebalanceonaccount.

3 Purchasedcleaningsuppliesfor$900onaccount.

5 Paid$1,200cashononeyearinsuranceplicyeffectiveMarch1.

12 Billedcustomers$2,500forcleaningservies.

18 Paid$1,000

cash

on

amount

owed

on

truck

and

$500

on

amount

owed

on

cleaning

supplies.

20 Paid$1,200cashforemployeesalaries.

21 Collected$1,400cashfromcustomersbilledonJuly12.

25 Billedcustomers$3,000forcleaningservices.

31 Paidgasandoilformonthontruck$200.

31 Withdrew$600cashforpersonaluse.

ThechartofaccountsforJan'sWindowWashingcontainsthefollowingaccounts:No.101Cash,

No.112AccountsReceivable,No.128CleaningSupplies,No.130PrepaidInsurance,No.157

Equipment,

No.

158

Accumulated

depreciation

Equipment,

No.

201

Accounts

Payable,

No.

212SalariesPayable,No.301JanJansen,Capital,No.306JanJansen,Drawing,No.350IncomeSummary,

No.400FeesEarned,No.633Gas&OilExpense,No.634CleaningSuppliesExpense,No.711

DepreciationExpense,No.722InsuranceExpense,No.726SalariesExpense.

Instructions:

a. JournalizeandposttheJulytransactions.UseJ1fortheJournalandthethreecolumnform

ofaccount.

b. PrepareatrialbalanceatJuly31onaworksheet.

c. Enter

the

following

adjustments

on

the

work

sheet

and

complete

the

work

sheet.1 EarnedbutunbilledfeesatJuly31was$1,100.

2 Depreciatoinonequipmentforthemonthwas$200.

3 Onetwelfthoftheinsuranceexpired.

4 Aninventorycountshows$600ofcleaningsuppliesonhandatJuly31.

5 Accuredbutunpaidemployeesalarieswere$500.

d. PreparetheIncomeStatementandOwner'sEquityStatementforJulyandaClassisfied

BalanceSheetatJuly31.

e. Journalizeandpostadjustingentries.UsepageJ2fortheJournal.

f. Journalizeandpostclosingentriesandcompletedclosingprocess.UsepageJ3fortheJournal.

g. PrepareaPostClosingTrialBalanceatJuly31.

Promotion9,

Year

I,Semester

II,

Stage

I,Group

D'1,

Room

E107

Mr.ProeunThat Tel:0899


2/28

4.1 a

Date Ref. Debit CreditJuly

1 Cash 101 8,000

JanJansen,Capital 301 8,0001 Equipment 157 6,000

Cash 101 3,000

AccountsPayable 201 3,0003 CleaningSupplies 128 900

AccountsPayable 201 900

5 PrepaidInsurance 130 1,200Cash 101 1,200

12 AccountsReceivable 112 2,500FeesEarned 400 2,500

18 AccountsPayable 201 1,500Cash 101 1,500

20 SalariesExpense 736 1,200Cash 101 1,200

21 Cash 101 1,400

AccountsReceivable 112 1,40025 AccountsReceivable 112 3,000

FeesEarned 400 3,00031 Gas&OilExpense 633 200

Cash 101 20031 JanJansen,Drawing 306 600

Cash 101 600

(Ownerwithdrewforpersonaluse)

GeneralJournalAccountTitleandExplantion

(Investedcashinthebusiness)

(Purchasedusetruckpaidhalfofamount)

(Purchasedcleaningsuppliesonaccount)

(Paid

cash

for

one

year

insurance

policy)

(Billedcustomerforcleaingservices)

(Paidcashamountowedontruckandsupplies)

(Paidsalriesforemployee)

(CollectedcashfromcustomerbillonJuly12)

(Billedcustomeerforcleaningservices)

(Paidcashforgasandoilbill)

J1

Promotion9,

Year

I,Semester

II,

Stage

I,Group

D'1,

Room

E107

Mr.

Proeun

That

Tel:

089

92


3/28

Page1of24.1 a

No.101

Date Ref. Debit Credit Balance

July,1 InvestedCashinbusiness J1 8,000 8,00

1 Purchasedtruckpaidhalfofamount J1 3,000 5,00

5 Paidcashforoneyearinsurancepolicy J1 1,200 3,80

18 Paidaccountowedontruckandsupplies J1 1,500 2,30

20 Paidcash

for

employee

salaries

J1 1,200 1,10

21 Collectedcashfromcustomerbilled J1 1,400 2,50

31 Paidcashforgasandoilontruck J1 200 2,30

31 Owner'swithdrewforpersonaluse J1 600 1,70

No.112


July,12 Billedcustomerforcleaningservices J1 2,500 2,50

21 Collectedcashfromcustomerbill J1 1,400 1,10

25 Billedcustomerforcleaningservices J1 3,000 4,10

No.128


July,3 Purchasedcleaningsuppliesoncredit J1 900 90

No.130


July,5 Paidcashforoneyearinsurancepolicy J1 1,200 1,20

No.157


July,1 Purchase

use

truck J1 6,000 6,00

No.158


No.201


July,1 Purchasedusetruckpaidhalfofamount J1 3,000 3,00

3 Purchasedcleaning

supplies

on

credit J1 900 3,90

28 Paidamountowedontruckandsupplies J1 1,500 2,40

No.212


CleaningSupplies

GeneralLedger

CashExplanation

AccountsReceivableExplanation

Explanation

PrepaidInsuranceExplanation

EquipmentExplanation

AccumulatedDepreciationEquipmentExplanation

AccountsPayableExplanation

SalariesPaybleExplanation

4.1a Promotion

9,

Year

I,Semester

II,

Stage

I,Group

D'1,

Room

E107

Mr.

Proeun

That

Tel:

089

9


4/28

Page2of2

No.301


July,1 Investedcashinthebusiness J1 8,000 8,00

No.306


July,31 Owner

withdrew

for

personal

use J1 600 60

No.350


No.400


July,12 Billedcustomerforcleaingservices J1 2,500 2,50

25 Billed

customer

for

cleaing

services J1 3,000 5,50

No.633


July,31 Paidcashforgasandoilontruck J1 200 20

No.634


No.711


No.722


No.726


July,20 Paidcashforemployeesalries J1 1,200 1,20

JanJansen,Capital

DepreciationExpense

Explanation

JanJansen,DrawingExplanation

IncomeSummaryExplanation

FeesEarnedExplanation

GasandOilExpenseExplanation

CleaningSuppliesExpenseExplanation

Explanation

InsuranceExpenseExplanation

SalariesExpense

Explanation

4.1a Promotion

9,

Year

I,Semester

II,

Stage

I,Group

D'1,

Room

E107

Mr.

Proeun

That

Tel:

089

9


5/28

Dr. Cr. Dr. Cr. Dr. Cr. Dr.

Cash 1,700 1,700

AccountsReceivable 4,100 (1)1,100 5,200 CleaningSupplies 900 (4)300 600 PrepaidInsurance 1,200 (3)100 1,100 Equipment 6,000 6,000 AccountsPayable 2,400 2,400 H.Kohl,Capital 8,000 8,000 H.Kohl,Drawing 600 600 FeesEarned 5,500 (1)1,100 6,600 GasandOilExpense 200 200 2SalariesExpense 1,200 (5)400 1,600 1,6

Total 15,900 15,900

Accumulateddepre.Equip. (2)200 200 DepreciationExpense (2)200 200 2InsuranceExpense (3)100 100 CleaningSuppliesExpense (4)300 300 3SalariesPayable (5)400 400

Total 2,100 2,100 17,600 17,600 2,4

NetIncome 4,2Total 6,6

Jan'sWindowWashingWorkSheet

ForthemonthendedJuly,31AccountTitle TrialBalance Adjustment

AdjustedTrialBalance Incom

4.1bandc Promotion9,YearI,SemesterII,StageI,GroupD'1,


6/28

Page1of2

Revenues

FeesEarned 6,600$

Expenses

Gas&OilExpense 200$SalariesExpense 1,600$DepreciationExpense 200$InsuranceExpense 100$CleaningSuppliesExpense 300$

TotalExpenses 2,400$

NetIncome 4,200

JanJansen,CapitalJuly1 $Add: Investments 8,000$

NetRevenue 4,200$12,200$

Less: Drawings 600$

JanJansen,CapitalJuly31 11,600

Jan'sWindowWashingIncomeStatemet

ForthemonthendedJuly,31

Jan'sWindowWashingStatementofOwner'sEquityForthemonthendedJuly,31

4.1d Promotion

9,

Year

I,Semester

II,

Stage

I,Group

D'1,

Room

E107

Mr.

Proeun

That

Tel:

089

9


7/28

Page2of2

Assets

CurrentAssets

Cash 1,700$

AccountsReceivable 5,200$

CleaningSupplies 600$

PrepaidInsurance 1,100$

TotalCurrentAssets 8,600$

Property,Plant,andEquipment

Equipment 6,000$

Less:Accumulateddepreciationequipment 200$ 5,800$

TotalAssets 14,400$

LiabilitiesandOwner'sEquiptyCurrentLiablities

AccountsPayable 2,400$

SalariesPayable 400$

TotalCurrentLiablities 2,800$

TotalLiablities

2,800$

Owner'sEquity

JanJansen,Capital 11,600$

TotalLiabilitiesandOwner'sEquity 14,400$

Jan'sWindowWashing

BalanceSheet


4.1d Promotion

9,

Year

I,Semester

II,

Stage

I,Group

D'1,

Room

E107

Mr.

Proeun

That

Tel:

089

9


8/28

4.1 e

Date Ref. Debit CreditJuly,31


2 DepreciationExpense 711 200Accumulateddepre.Equipment 158 200

3 InsuranceExpense 722 100PrepaidInsurance 130 100

4 CleaningSuppliesExpense 634 300CleaningSupplies 128 300

5 SalariesExpense 726 400SalariesPayable 212 400

(TorecordSuppliesused)

(Torecordaccuedsalaries)


AdjustingEntry

(Torecordaccruedreveneu)

(Torecordmonthlydepreciationonequipment)

(Torecord

insurance

expired)

J2

Promotion9,

Year

I,Semester

II,

Stage

I,Group

D'1,

Room

E107

Mr.

Proeun

That

Tel:

089

9


9/28

Page1of24.1

No.101






20 Paidcash

for

employee

salaries

J1 1,200 1,10




No.112




25 Billedcustomerforcleaningservices J1 3000 4,10

31 Adj.Entry J2 1,100 5,20

No.128



31 Adj.Entry J2 300 60

No.130



31 Adj.Entry J2 100 1,10

No.157


July,1 Purchaseusetruck J1 6,000 6,00

No.158


July,31 Adj.Entry J2 200 20

No.201


July,1 Purchased

use

truck

paid

half

of

amount J1 3,000 3,00

3 Purchasedcleaningsuppliesoncredit J1 900 3,90


No.212



CleaningSupplies

GeneralLedger

CashExplanation


Explanation


Equipment

Explanation




4.1e Promotion

9,

Year

I,Semester

II,

Stage

I,Group

D'1,

Room

E107

Mr.

Proeun

That

Tel:

089

9


10/28

Page2of2

No.301



No.306


July,31 Owner

withdrew

for

personal

use J1 600 60

No.350


No.400


July,12 Billedcustomerforcleaingservices J1 2,500 2,50

25 Billed

customer

for

cleaing

services J1 3,000 5,5031 Adj.Entry J2 1,100 6,60

No.633



No.634



No.711



No.722



No.726



31 Adj.Entry J2 400 1,60

JanJansen,Capital

DepreciationExpense

Explanation

JanJansen,DrawingExplanation





Explanation


SalariesExpense

Explanation

4.1e Promotion

9,

Year

I,Semester

II,

Stage

I,Group

D'1,

Room

E107

Mr.

Proeun

That

Tel:

089

9


11/28

4.1 f

Date Ref. Debit CreditJuly,31

31 FeesEarned 400 6,600IncomeSummary 350 6,600

31 IncomeSummary 350 2,400Gas&OilExpense 633 200CleaningSuppliesExpense 634 300DepreciationExpense 711 200InsuranceExpense 722 100SalariesExpense 726 1,600

31 IncomeSummary 350 4,200JanJansen,Capital 301 4,200

31 JanJansen,Capital 301 600JanJansen,Drwaing 306 600

(2)


ClosingEntry(1)

(ToclosingRevenueaccount)

(TocloseExpensesaccount)

(3)

(Toclosenetincometocapital)

(4)

(Toclosedrawingtocapital)

J3

Promotion9,

Year

I,Semester

II,

Stage

I,Group

D'1,

Room

E107

Mr.

Proeun

That

Tel:

089

9


12/28

Page1of24.1 f

No.101






20 Paidcash

for

employee

salaries

J1 1,200 1,10




No.112




25 Billedcustomerforcleaningservices J1 3000 4,10

31 Adj.Entry J2 1,100 5,20

No.128




No.130



31 Adj.Entry J2 100 1,10

No.157


July,1 Purchaseusetruck J1 6,000 6,00

No.158



No.201


July,1 Purchased

use

truck

paid

half

of

amount J1 3,000 3,00

3 Purchasedcleaningsuppliesoncredit J1 900 3,90


No.212



CleaningSupplies

GeneralLedger

CashExplanation


Explanation


Equipment

Explanation




4.1f Promotion

9,

Year

I,Semester

II,

Stage

I,Group

D'1,

Room

E107

Mr.

Proeun

That

Tel:

089

9


13/28

Page2of2

No.301



31 ClosingEntry(3) J3 4,200 12,20

31 ClosingEntry(4) J3 600 11,60

No.306

Date Ref. Debit Credit BalanceJuly,31 Ownerwithdrewforpersonaluse J1 600 60

31 ClosingEntry(4) J3 600

No.350


July,31 ClosingEntry(1) J3 6,600 6,60

31 ClosingEntry(2) J3 2,400 4,20

31 CloseingEntry(3) J3 4,200

No.400

Date Ref. Debit Credit BalanceJuly,12 Billedcustomerforcleaingservices J1 2,500 2,50

25 Billedcustomerforcleaingservices J1 3,000 5,50

31 Adj.Entry J2 1,100 6,60

31 ClosingEntry J3 6,600

No.633



31 ClosingEntry J3 200

No.634




No.711




No.722


July,31 Adj.

Entry J2 100 10


No.726



31 Adj.Entry J2 400 1,60


JanJansen,Capital

DepreciationExpense

Explanation

JanJansen,Drawing

Explanation


FeesEarned

Explanation



Explanation


SalariesExpenseExplanation

4.1f Promotion

9,

Year

I,Semester

II,

Stage

I,Group

D'1,

Room

E107

Mr.

Proeun

That

Tel:

089

9


14/28

4.1 g

Debit Credit

Cash 1,700$




Equipment 6,000$

Accumulateddepreciationequipment 200$


Salaries

Payable

400$

JanJansen,Capital 11,600$

14,600$ 14,600$

Jan'sWindowWashing

PostClosingTrialBalance


Promotion9,

Year

I,Semester

II,

Stage

I,Group

D'1,

Room

E107

Mr.

Proeun

That

Tel:

089

9


15/28

4.2 HelgaHohlopenedHelga'sCarpetCleanersonMarch1.During,thefollowingtransactionswere

completed.

March 1 Invested$10,000cashinbusiness.

1 Purchasedusedtruckfor$6,000,paying$4,000cashandthebalanceonaccount.

3 Purchasedcleaningsuppliesfor$1,200onaccount.

5 Paid$1,800cashononeyearinsuranceplicyeffectiveMarch1.

14 Billedcustomers$2,800forcleaningservies.

18 Paid$1,500

cash

on

amount

owed

on

truck

and

$500

on

amount

owed

on

cleaning

supplies.

20 Paid$1,500cashforemployeesalaries.

21 Collected$1,600cashfromcustomersbilledonMarch14.

28 Billedcustomers$3,200forcleaningservices.

31 Paidgasandoilformonthontruck$200.

31 Withdrew$900cashforpersonaluse.

ThechartofaccountsforHelga'sCarpetCleanerscontainsthefollowingaccounts:No.101Cash,

No.112AccountsReceivable,No.128CleaningSupplies,No.130PrepaidInsurance,No.157

Equipment,

No.

158

Accumulated

depreciation

Equipment,

No.

201

Accounts

Payable,

No.

212SalariesPayable,No.301H.Kohl,Capital,No.306H.Kohl,Drawing,No.350IncomeSummary,

No.400FeesEarned,No.633Gas&OilExpense,No.634CleaningSuppliesExpense,No.711

DepreciationExpense,No.722InsuranceExpense,No.726SalariesExpense.

Instructions:

a. JournalizeandposttheMarchtransactions.UseJ1fortheJournalandthethreecolumnform

ofaccount.

b. PrepareatrialbalanceatMarch31onaworksheet.

c. Enter

the

following

adjustments

on

the

work

sheet

and

complete

the

work

sheet.1 EarnedbutunbilledfeesatMarch31was$600.

2 Depreciatoinonequipmentforthemonthwas$250.

3 Onetwelfthoftheinsuranceexpired.

4 Aninventorycountshows$400ofcleaningsuppliesonhandatMarch31.

5 Accuredbutunpaidemployeesalarieswere$500.

d. PreparetheIncomeStatementandOwner'sEquityStatementforMarchandaClassisfied

BalanceSheetatMarch31.

e. Journalizeandpostadjustingentries.UsepageJ2fortheJournal.

f. Journalizeandpostclosingentriesandcompletedclosingprocess.UsepageJ3fortheJournal.

g. PrepareaPostClosingTrialBalanceatMarch31.

Promotion9,

Year

I,Semester

II,

Stage

I,Group

D'1,

Room

E107



16/28

.2 a

Date Ref. Debit CreditMarch

1 Cash 101 10,000H.Kohl,Capital 301 10,000

1 Equipment 157 6,000Cash 101 4,000AccountsPayable 201 2,000

3 CleaningSupplies 128 1,200AccountsPayable 201 1,200

5 PrepaidInsurance 130 1,800Cash 101 1,800


18 AccountsPayable 201 2,000Cash 101 2,000

20 SalariesExpense 726 1,500Cash 101 1,500

21 Cash 101 1,600AccountsReceivable 112 1,600


31 Gas&OilExpense 633 200Cash 101 200

31 H.Hohl,Drawing 306 900Cash 101 900

(Billedcustomerforcleaningservices)

(Paidcash

for

gas

and

oil

on

truck)

(Owner'swithdrewforpersonaluse)


(Investedcashinthebusiness)

(Purchaseusetruck)

(PurchasedCleaningSuppliesoncredit)

(Paidcashforoneyearinsurancepolicy)

(Billedcustomerforcleaingservices)

(Paidamountowedontruckandsupplies)

(Paid

cash

for

employee

salaries)

(CollectedcashfromcustomerbilledonMarch14)

J1

Promotion9,

Year

I,Semester

II,

Stage

I,Group

D'1,

Room

E107



17/28

Page1of24.2

No.101


March,1 InvestedCashinbusiness J1 10,000 10,00

1 Purchasedtruck J1 4,000 6,00

5 Paidcashforoneyearinsurance J1 1,800 4,20


20 Paidcash

for

employee

salaries

J1 1,500 70




No.112


March,14 Billedcustomerforcleaningservices J1 2,800 2,80



No.128


March,3 Purchasedcleaningsuppliesoncredit J1 1,200 1,20

No.130


March,5 Paidcashforoneyearinsurancepolicy J1 1,800 1,80

No.157


March,1 Purchase

use

truck J1 6,000 6,00

No.158


No.201


March,1 Purchasedusetruck J1 2,000 2,00

3 Purchasedcleaning

supplies

on

credit J1 1,200 3,20


No.212

Date Ref. Debit Credit BalanceExplanation

Explanation

GeneralLedger

Cash

AccountsReceivable

SalariesPayble

Explanation

CleaningSuppliesExplanation


EquipmentExplanation



4.2a Promotion

9,

Year

I,Semester

II,

Stage

I,Group

D'1,

Room

E107

Mr.

Proeun

That

Tel:

089

9


18/28

Page2of2

No.301


March,1 Investedcashinthebusiness J1 10,000 10,00

No.306


March,31 Owner

withdrew

for

personal

use J1 900 90

No.350


No.400


March,14 Billedcustomerforcleaingservices J1 2,800 2,80

28 Billed

customer

for

cleaing

services J1 3,200 6,00

No.633


March,31 Paidcashforgasandoilontruck J1 200 20

No.634


No.711


No.722


No.726


March,20 Paidcashforemployeesalries J1 1,500 1,50

Explanation

Explanation

DepreciationExpenseExplanation


SalariesExpense

CleaningSuppliesExpense

H.Kohl,CapitalExplanation

H.Kohl,DrawingExplanation




4.2a Promotion

9,

Year

I,Semester

II,

Stage

I,Group

D'1,

Room

E107

Mr.

Proeun

That

Tel:

089

9


19/28

Dr. Cr. Dr. Cr. Dr. Cr. Dr.

Cash 1,200 1,200

AccountsReceivable 4,400 (1)600 5,000 CleaningSupplies 1,200 (4)800 400 PrepaidInsurance 1,800 (3)150 1,650 Equipment 6,000 6,000 AccountsPayable 1,200 1,200 H.Kohl,Capital 10,000 10,000 H.Kohl,Drawing 900 900 FeesEarned 6,000 (1)600 6,600 GasandOilExpense 200 200 2SalariesExpense 1,500 (5)500 2,000 2,0

Total 17,200 17,200

Accumulateddepre.Equip. (2)250 250 DepreciationExpense (2)250 250 2InsuranceExpense (3)150 150 CleaningSuppliesExpense (4)800 800 8SalariesPayable (5)500 500

Total 2,300 2,300 18,550 18,550 3,4

NetIncome 3,2Total 6,6

Helga'sCarpetCleanersWorkSheet

ForthemonthendedMarch,31AccountTitle TrialBalance Adjustment

AdjustedTrialBalance Incom

4.2bandc Promotion9,YearI,SemesterII,StageI,GroupD'1,


20/28

Page1of2

Revenues

FeesEarned 6,600$

Expenses

Gas&OilExpense 200$SalariesExpense 2,000$DepreciationExpense 250$InsuranceExpense 150$CleaningSuppliesExpense 800$

TotalExpenses 3,400$

NetIncome 3,200

H.Kohl,CapitalMarch1 $Add: Investments 10,000$

NetRevenue 3,200$13,200$

Less: Drawings 900$

H.Kohl,CapitalMarch31 12,300

Helga'sCarpetCleanersIncomeStatemet

ForthemonthendedMarch,31

Helga'sCarpetCleanersStatementofOwner'sEquity


4.2d Promotion

9,

Year

I,Semester

II,

Stage

I,Group

D'1,

Room

E107

Mr.

Proeun

That

Tel:

089

9


21/28

Page2of2

Assets

CurrentAssets

Cash 1,200$




TotalCurrentAssets 8,250$

Property,Plant,andEquipment

Equipment 6,000$

Less:Accumulateddepreciationequipment 250$ 5,750$

TotalAssets 14,000$

LiabilitiesandOwner'sEquiptyCurrentLiablities


SalariesPayable 500$

TotalCurrentLiablities 1,700$

TotalLiablities

1,700$

Owner'sEquity

H.Kohl,Capital 12,300$

TotalLiabilitiesandOwner'sEquity 14,000$


Helga'sCarpetCleaners

BalanceSheet

4.2d Promotion

9,

Year

I,Semester

II,

Stage

I,Group

D'1,

Room

E107

Mr.

Proeun

That

Tel:

089

9


22/28

4.2 e

Date Ref. Debit CreditMarch,31

1 AccountsReceivable 112 600FeesEarned 400 600

2 DepreciationExpense 711 250Accumulateddepre.Equipment 158 250

3 InsuranceExpense 722 150PrepaidInsurance 130 150

4 CleaningSuppliesExpense 634 800CleaningSupplies 128 800

5 SalariesExpense 726 500SalariesPayable 212 500

(TorecordSuppliesused)

(Torecordaccuedsalaries)


AdjustingEntry

(Torecordaccruedreveneu)

(Torecordmonthlydepreciationonequipment)

(Torecord

insurance

expired)

J2

Promotion9,

Year

I,Semester

II,

Stage

I,Group

D'1,

Room

E107

Mr.

Proeun

That

Tel:

089

9


23/28

Page1of24.2

No.101






20 Paidcash

for

employee

salaries

J1 1,500 70




No.112





31 Adj.Entry J2 600 5,00

No.128




No.130



31 Adj.Entry J2 150 1,65

No.157


March,3 Purchaseusetruck J1 6,000 6,00

No.158


March,31 Adj.Entry J2 250 25

No.201


March,1 Purchased

use

truck J1 2,000 2,00

3 Purchasedcleaningsuppliesoncredit J1 1,200 3,20


No.212



CleaningSupplies

GeneralLedger

CashExplanation


Explanation


Equipment

Explanation




4.2e Promotion

9,

Year

I,Semester

II,

Stage

I,Group

D'1,

Room

E107

Mr.

Proeun

That

Tel:

089

9


24/28

Page2of2

No.301



No.306


March,31 Owner

withdrew

for

personal

use J1 900 90

No.350


No.400


March,14 Billedcustomerforcleaingservices J1 2,800 2,80

28 Billed

customer

for

cleaing

services J1 3,200 6,0031 Adj.Entry J2 600 6,60

No.633



No.634



No.711



No.722



No.726



31 Adj.Entry J2 500 2,00

H.Kohl,Capital

DepreciationExpense

Explanation

H.Kohl,DrawingExplanation





Explanation


SalariesExpense

Explanation

4.2e Promotion

9,

Year

I,Semester

II,

Stage

I,Group

D'1,

Room

E107

Mr.

Proeun

That

Tel:

089

9


25/28

4.2 f

Date Ref. Debit CreditMarch,31

31 FeesEarned 400 6,600IncomeSummary 350 6,600

31 IncomeSummary 350 3,400Gas&OilExpense 633 200CleaningSuppliesExpense 634 800DepreciationExpense 711 250InsuranceExpense 722 150SalariesExpense 726 2,000

31 IncomeSummary 350 3,200H.Kohl,Capital 301 3,200

31 H.Kohl,Capital 301 900H.Kohl,Drwaing 306 900


ClosingEntry

(Toclosedrawingtocapital)

(4)

(ToclosingRevenueaccount)

(2)

(1)

(TocloseExpensesaccount)

(3)

(Toclosenetincometocapital)

J3

Promotion9,

Year

I,Semester

II,

Stage

I,Group

D'1,

Room

E107

Mr.

Proeun

That

Tel:

089

9


26/28

Page1of24.2

No.101






20 Paidcash

for

employee

salaries

J1 1,500 70




No.112





31 Adj.Entry J2 600 5,00

No.128




No.130



31 Adj.Entry J2 150 1,65

No.157


March,3 Purchaseusetruck J1 6,000 6,00

No.158



No.201


March,1 Purchased

use

truck J1 2,000 2,00

3 Purchasedcleaningsuppliesoncredit J1 1,200 3,20


No.212



CleaningSupplies

GeneralLedger

CashExplanation


Explanation


Equipment

Explanation




4.2f Promotion

9,

Year

I,Semester

II,

Stage

I,Group

D'1,

Room

E107

Mr.

Proeun

That

Tel:

089

9


27/28

Page2of2

No.301



31 ClosingEntry(3) J3 3,200 13,20

31 ClosingEntry(4) J3 900 12,30

No.306

Date Ref. Debit Credit BalanceMarch,31 Ownerwithdrewforpersonaluse J1 900 90


No.350


March,31 ClosingEntry(1) J3 6,600 6,60

31 ClosingEntry(2) J3 3,400 3,20

31 ClosingEntry(3) J3 3,200

No.400

Date Ref. Debit Credit BalanceMarch,14 Billedcustomerforcleaingservices J1 2,800 2,80

28 Billedcustomerforcleaingservices J1 3,200 6,00

31 Adj.Entry J2 600 6,60


No.633




No.634




No.711




No.722


March,31 Adj.

Entry J2 150 15


No.726



31 Adj.Entry J2 500 2,00

31 ClosingEntry(2) J3 2,000

H.Kohl,Capital

DepreciationExpense

Explanation

H.Kohl,Drawing

Explanation


FeesEarned

Explanation



Explanation


SalariesExpenseExplanation

4.2f Promotion

9,

Year

I,Semester

II,

Stage

I,Group

D'1,

Room

E107

Mr.

Proeun

That

Tel:

089

9


28/28

4.2 g

Debit Credit

Cash 1,200$




Equipment 6,000$

Accumulateddepreciationequipment 250$


Salaries

Payable

500$

H.Kohl,Capital 12,300$

14,250$ 14,250$

Helga'sCarpetCleaners

PostClosingTrialBalance


Promotion9,

Year

I,Semester

II,

Stage

I,Group

D'1,

Room

E107

Mr.

Proeun

That

Tel:

089

9

Complete Accounting Cycle Exercise

Documents

Transcript of Complete Accounting Cycle Exercise