S 2-11 BRENDA LONGVAL TRAVEL DESIGN Trial Balance April 30, 2012

Cash Accounts Receivable Office Supplies Land Accounts Payable Longval capital Longval Drawings Service Revenue Rent expense, computer Rent Expense, office Salry expense Utility expense Total Corrected Trial Balance

18,000 1,000 500 14,000 400 30,600 3,000 8,800 700 900 1,100 600 70,400

9200

BRENDA LONGVAL TRAVEL DESIGN Trial Balance April 30, 2012

Cash Accounts Receivable Office Supplies Land Accounts Payable Longval capital Longval Drawings Service Revenue Rent expense, computer Rent Expense, office Salry expense Utility expense Total

18,000 1,000 500 14,000 400 30,600 3,000 8,800 700 900 1,100 600 39,800

39,800

E 2-14 Down: 1. Debit 4Net income 7Expense Across: 2. Receivable 3. Balance sheet 5. Post 6. credit

P 2-27 A a. The lists of account that Showtime amusements will use to record the transactions are as follows: b. Cash a/c Capital a/c Accounts Payable Supplies Tax expense a/c Salaries Payable Rent expense a/c Drawings a/c Revenue a/c Bank a/c

P 2-28 A 1. 1. Date Accounts and Explanations Sep Cash 1 Owners equity (to record Cash) 2 Purchase Cash 5 Cash Notes Payable Supplies Accounts Payable Accounts Payable Cash Property Tax expense Cash Salaries Rent Cash Drawings Cash Revenue Cash Debit $370,000 Credit $370,000 $360,000 $360,000 $260,000 $260,000 $1,400 $1,400 1,200 1,200 1500 1500 2,500 1,400 3,900 7,000 7,000 21,000 21,000

2.

3.

4.

10

5. 6 7

15 15 16

8 9

28 30

2.

1-Sep 5

Cash a/c 370000 2-Sep 360,000 260000 15 2700 16 28 30 3900 7000 21000

Owner's equity 1-Sep Bal 370000 370000

Bal

277400

Purchase a/c 2-Sep 360000 Bal 360000

Notes Payable 5-Sep Bal Accounts Payable 15-Sep 1200 10-Sep Bal

260000 260000

1400 200

Supplies 10-Sep 1400 Bal 1400

Rent 16-Sep 1400 Bal 1400

Salaries 16-Sep 2500 Bal 2500

Sp 28 Bal

Drawings 7000 7000

Revenue 30-Sep 21000 Bal 21000

P2-37 A 1. Income Statement for Showtime Amusements Company as on Sep 30, 2012 Revenue Less Tax Expenses Rent expense 1500 1400 21000

Salaries expense Net Income

2500 15,600

2. Statement of Owners Equity

Investment by owner, september Capital at the beginning of the year Add: Net Income Less: Withdrawl by owner Capital at the end of the year 3.

370000 $0 15,600 7,000 378,600

Balance Sheet of Showtime Amusement as on Sep 30, 2012

C 2 3 4 5 6 7 8 D E F

Asset Cash Buildings Supplies Total

Amount 277400 360000 1400 638000

Liabilities and Owner's Equity Notes Payable Accounts Payable Ownwr's Capital Total

Amount 260000 200 378600 638000

S 3-10

A 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23

Famous Cut Hair Stylists

Preparation of Adjusted Trial Balance 31-Dec-12 Account Cash Supplies Equipment Accumulated Depreciation Accounts Payable Interest Payable Notes Payable Fabio, capital Service revenue Rent Expense Supplies expense Depreciation expense Interest expense Total Unadjusted Trial Balance Adjustments Adjusted Trial Balance Dr Cr Dr Cr Dr Cr 800 800 900 600(a) 900 19100 19100 1000 1000(b) 2000 200 200 600 600 2500 2500 7400 7400 14800 14800 4500 4500 600(a) 600 1000(b) 1000 600 600 1200 25900 25900 2200 2200 27500 27500

E 3-18:
C 2 3 4 Opening Balance 5 (b) 6 Balance D E F

Accounts Receivable 1400 200 1600

C 2 3 4 5 6

D Salary Payable (d)

400 400

Balance

A 1 2 ((a) 3 4 Balance

B C Unearned Service Revenue 900 O/B 300

D 600

A 1 2 o/b 3 4 Balance

B Supplies 1100

c 600

500

A 1 2 o/b 3 d 4 Balance

B Salary expense 1300 400 1700

500

A 1 2 c 3 4 Balance

B Supplies 500 500

A 1 2 3 4 5

B Supplies o/b a

D 4200 900 200 5300

b Balance

A 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27

F 30-Jun-12

Account Cash Accounts Receivable Prepaid rent Supplies Automobi;e Accumulated Depreciation Accounts Payable Salary payable Wake , capital Wake,drawings Service revenue Salaryexpense Rent expense Fuel expense Depreciation Supplies expense Total

Unadjusted Trial Balance Adjustments Adjusted Trial Balance Dr Cr Dr Cr Dr Cr 6900 1100 1100 1500a 2600 3500 700b 2800 1100 400c 700 77000 77000 3400 1400d 4800 3300 3300 300e 300 80000 80000 4400 4400 9600 1500 800 1400d 400c 96300 4300 300e 700b 1500a 1800 700 800 1400 400 99500 11100

96300

4300

99500

2.
A 2 3 4 5 6 7 8 9 10 11 12 13 14 15 B C D E F G H

RELIABLE LIMO SERVICE COMPANY Income Statement For the month ended June 30, 2012 Revenues Service Revenue Expenses Salary Expenses Rent expenses Fuel expenses Dsepreciation expenses Supplies expenses Net Income 1800 700 800 1400 400 5100 11100

A 19 20 21 22 23 24 25 26 27 28 29

D E F RELIABLE LIMO SERVICE COMPANY Statement of Owner's Equity For the month ended June 30, 2012

Beginning Capital, June 1 Investment by owner Net income Less: Drawings Capital

80000 0 6000 86000 4400 81600

3.
B 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 C E F G H I

RELIABLE LIMO SERVICE COMPANY Balance Sheet For the month ended June 30, 2012 Assets Cash Prepaid Rent Accounts Receivable Supplies Automobile Less:Acc Depreciation Total Assets Liabilities & Owner's Equity Accounts Payable 3300 Salary Payable 300 Total Liabilities 3600 Owner's equity Capital Total Liabilities

6900 2800 2600 700 77000 4800 85200

81600 85200

S 4-5 Drawings Bal 8,500 Service revenue Bal 23,700

Salary

Rent

Advertising

Bal

6,100

Bal 4,000

Bal 3,300

Income Summary

Simon, Capital

Clo salary Clo rent

6,100 Clo Service 4,000 Revenue 23,700

Clo drawing 8,500 Bal

26,100

Clo Advertising 3,300

net income 10,300

Net income

$10,300

Ending balance Capital $27,900

P3-36A

A 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40

Brooke's motor Trial Balance September 30,2012 Account Cash Account receivable Supplies Prepaid insurance Equipment Accumulated Depreciation Accounts payable Wages payable Unearned service revenue Brooke, Capital Brooke, Drawing Service revenue Depreciation expense Wage expense Insurance expense Utilities expense Supplies expense Total Debit $4,200 26,500 800 1,800 53,500 36,300 13,300 8,500 19,000 3,500 16,500 Credit

2,100 1,200

$93,600

$93,600

Additional data at September 30, 2012: a. Depreciation on equipment, $1,100 b.Accrued wage expense, $500 c.Supplies on hand, $700 d.Prepaid insurance expired during September, e.Unearned service revenue earned during September, f.Accrued service revenue, $900

$200 $4,500

A 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68

B Solution:

Unadjusted trial Balance Debit Credit Cash Account receivable Supplies Prepaid insurance Equipment Accumulated Depreciation Accounts payable Wages payable Unearned service revenue Brooke, Capital Brooke, Drawing Service revenue Depreciation expense Wage expense Insurance expense Utilities expense Supplies expense Total $4,200 26,500 800 1,800 53,500 36,300 13,300 8,500 19,000 3,500 16,500

Adjustments Debit Credit

Adjusted Trial Balance Debit $4,200 27,400 $700 $1,600 53,500 $37,400 13,300 $500 $4,000 19,000 3,500 $21,900 $1,100 $2,600 $200 1,200 $100 Credit

900(f) 100 (c ) 200 (d) $1,100(a) 500 (b) 4,500(e)

4,500(e) 900(f) $1,100(a) 500 (b) 200 (d) 100 (c )

2,100 1,200

$93,600

$93,600

$7,300

$7,300

$96,100

$96,100

A 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91

Now, Brooke Motors Income statement For The Month Ended Sep 30,2012 Debit Revenue: Service revenue $21,900 Credit

Expenses: Depreciation expense Wage expense Insurance expense Utilities expense Supplies expense Total expenses: Net income $1,100 $2,600 $200 1,200 $100 $5,200 $16,700

A 94 95 96 97 98 99 100 101 102 103 104 105 106 107 108

Brooke Motors Statement of Owner's Equity For the Month Ended Sep 30,2012

Brooke, Capital Owner's investment Net income

19,000 0 $16,700 35,700 3,500 32,200

Less: Drawing Brooke, Capital

A 109 110 111 112 113 114 115 116 117 118 119 120 121 122 123 124 125 126 127

Assets Cash Account receivable Supplies Prepaid insurance Equipment less: Accumulated depreciation

Brooke Motors Balance sheeet For The Month Ended Sep 30,2012 Amount Liabilties $4,200 Accounts payable 27,400 Wages payable $700 Unearned service revenue $1,600 Total laibilities $16,100 Owner's Equity Brooke, Capital Total laibilities + Owner's $50,000 Equity

Amount

13,300 $500 $4,000 $17,800

53,500 $37,400

32,200

Total Assets

$50,000

Formula View:
A 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 Solution: Unadjusted trial Balance Debit =A10 =A11 =A12 =A13 =A14 =A15 =A16 =A17 =A18 =A19 =A20 =A21 =A23 =A24 =A25 =A26 =A27 =A29 =E10 =E11 =E12 =E13 =E14 =F15 =F16 =F18 =F19 =E20 =F21 =H53 =H55 =H51 =H50 =E29 =D67 7300 =G67 =G56 =G49 =E34 =D62+E35 =G37 =D64 =D50-J50 =SUM(J48:J65) =SUM(K53:K59) 4,500(e) =D58 =E59+H38+E39 Adjustments Credit =D46 =E46 Adjusted Trial Balance =G46 =D48 =D49+E39 =D36 =D51-G37 =D52 =E53+E34 =E54 =E35 =E56-H38 =E57 =H46 B C D E F G H I J K L

900(f) 100 (c ) 200 (d) $1,100(a) 500 (b)

=E24 =E26

A 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91

B Now,

Brooke Motors Income statement For The Month Ended Sep 30,2012 Debit Revenue: =A59 =K59 Credit

Expenses: =A61 =A62 =A63 =A64 =A65 Total expenses: Net income =J61 =J62 =J63 =J64 =J65 =SUM(F83:F87) =G79-G89

A 94 95 96 97 98 99 100 101 102 103 104 105 106 107 108

Brooke Motors Statement of Owner's Equity For the Month Ended Sep 30,2012

=A57 Owner's investment =B91

=K57 0 =G91 =SUM(F100:F103) =(J58) =F105-F106

Less: Drawing =B100

A 111 112 113 114 115 116 117 118 119 120 121 122 123 124 125 126 127 128

D Brooke Motors Balance sheeet For The Month Ended Sep 30,2012 Amount

Amount Liabilties

Assets =A48 =A49 =A50 =A51 =A52 less: Accumulated depreciation =J48 =J49 =J50 =J51 =J52 =K53 =D121-D123

=A54 =A55 =A56 Total laibilities Owner's Equity =B108 Total laibilities + Owner's Equity

=K54 =K55 =K56 =SUM(I117:I119)

=F108

Total Assets

=SUM(E117:E123)

=I121+I124