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Business
Accounting
31, 2018 Balance Account Title Debit Credit Cash $ 13,480 Accounts Receivable 14,500 Prepaid Rent 2,320 Office Supplies 1,700 Equipment 23,000 Accumulated Depreciation-Equipment $ 1,000 Accounts Payable 7,100 Salaries Payable Unearned Revenue 6,000 Common Stock 24,000 Retained Earnings 4,500 Dividends 4,600 Service Revenue 19,500 Salaries Expense 2,500 Rent Expense Depreciation Expense-Equipment

31, 2018 Balance Account Title Debit Credit Cash $ 13,480 Accounts Receivable 14,500 Prepaid Rent 2,320 Office Supplies 1,700 Equipment 23,000 Accumulated Depreciation-Equipment $ 1,000 Accounts Payable 7,100 Salaries Payable Unearned Revenue 6,000 Common Stock 24,000 Retained Earnings 4,500 Dividends 4,600 Service Revenue 19,500 Salaries Expense 2,500 Rent Expense Depreciation Expense-Equipment

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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31, 2018 Balance Account Title Debit Credit Cash $ 13,480 Accounts Receivable 14,500 Prepaid Rent 2,320 Office Supplies 1,700 Equipment 23,000 Accumulated Depreciation-Equipment $ 1,000 Accounts Payable 7,100 Salaries Payable Unearned Revenue 6,000 Common Stock 24,000 Retained Earnings 4,500 Dividends 4,600 Service Revenue 19,500 Salaries Expense 2,500 Rent Expense Depreciation Expense-Equipment
Transcribed Image Text:31, 2018 Balance Account Title Debit Credit Cash $ 13,480 Accounts Receivable 14,500 Prepaid Rent 2,320 Office Supplies 1,700 Equipment 23,000 Accumulated Depreciation-Equipment $ 1,000 Accounts Payable 7,100 Salaries Payable Unearned Revenue 6,000 Common Stock 24,000 Retained Earnings 4,500 Dividends 4,600 Service Revenue 19,500 Salaries Expense 2,500 Rent Expense Depreciation Expense-Equipment
Expert Solution
Step 1 Part A)

Cash A/C

Particulars  JF AMT Particulars  JF AMT
-   - By balance C/D   13480
To Balance B/D   13480 -   -
    13480     13480

Accounts Receivable A/C

Particulars  JF AMT Particulars  JF AMT
-   - By balance C/D   14500
To Balance B/D   14500 -   -
    14500     14500

Prepaid Rent A/C

Particulars  JF AMT Particulars  JF AMT
-   - By balance C/D   2320
To Balance B/D   2320 -   -
    2320     2320

Office Supplies A/C

Particulars  JF AMT Particulars  JF AMT
-   - By balance C/D   1700
To Balance B/D   1700 -   -
    1700     1700

Equipment A/C

Particulars  JF AMT Particulars  JF AMT
-   - By balance C/D   23000
To Balance B/D   23000 -   -
    23000     23000

Dividends A/C

Particulars  JF AMT Particulars  JF AMT
-   - By balance C/D   4600
To Balance B/D   4600 -   -
    4600     4600

Salaries A/C

Particulars  JF AMT Particulars  JF AMT
-   - By balance C/D   2500
To Balance B/D   2500 -   -
    2500     2500

Accumulated Depreciation A/C

Particulars  JF AMT Particulars  JF AMT
To Balance C/D   1000 -   -
-   - By Balance B/D   1000
    1000     1000

Accounts Payable A/C

Particulars  JF AMT Particulars  JF AMT
To Balance C/D   7100 -   -
-   - By Balance B/D   7100
    7100     7100

Unearned Revenue A/C

Particulars  JF AMT Particulars  JF AMT
To Balance C/D   6000 -   -
-   - By Balance B/D   6000
    6000     6000

Common Stock A/C

Particulars  JF AMT Particulars  JF AMT
To Balance C/D   24000 -   -
-   - By Balance B/D   24000
    24000     24000

Retained Earning A/C

Particulars  JF AMT Particulars  JF AMT
To Balance C/D   4500 -   -
-   - By Balance B/D   4500
    4500     4500

Service Revenue A/c

Particulars  JF AMT Particulars  JF AMT
To Balance C/D   19500 -   -
-   - By Balance B/D   19500
    19500     19500
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