Q3. Mr. Ali Mahsin Khan started his own consulting firm, 'Mahsin Consulting’ on June,2017.The trial balance before adjustment at June 30, 2017 is as follows:'Mahsin Consulting'Trial BalanceJune 30, 2017NumberAccount TitlesDebitCredit1CashTk.3,96,0002Supplies33,0003Prepaid Insurance60,0004Office Furniture75,000Unearned RevenueTk.74,000Mortgage Payable2,50,0007Capital4,05,0008Drawing50,000Service Revenue2,25,00010Rent Expense36,00011Salaries Expense2,10,00012Utility Expense94,0009,54,0009,54,000Other information:1. Insurance policy is for 1 year.2. Account on June 30 shows Tk. 12,000 of supplies on hand3. Annual Depreciation is Tk.10,000 on Furniture.4. Unearned revenue of Tk. 35,000 was earned prior to June 30, 20175. Salaries of Tk. 20,000 were unpaid at June 30,Instructions:a) Journalize the adjusting entries on June 30, 2017.b) Prepare adjusted trial balance4

Q3. Mr. Ali Mahsin Khan started his own consulting firm, 'Mahsin Consulting' on June, 2017.The trial balance before adjustment at June 30, 2017 is as follows: 'Mahsin Consulting' Trial Balance June 30, 2017 Number Account Titles Debit Credit 1 Cash Tk.3,96,000 2 Supplies 33,000 3 Prepaid Insurance 60,000 Office Furniture 75,000 5 Unearned Revenue Tk.74,000 Mortgage Payable 2,50,000 7 Сapital 4,05,000 8 Drawing 50,000 Service Revenue 2,25,000

Q3. Mr. Ali Mahsin Khan started his own consulting firm, 'Mahsin Consulting' on June, 2017.The trial balance before adjustment at June 30, 2017 is as follows: 'Mahsin Consulting' Trial Balance June 30, 2017 Number Account Titles Debit Credit 1 Cash Tk.3,96,000 2 Supplies 33,000 3 Prepaid Insurance 60,000 Office Furniture 75,000 5 Unearned Revenue Tk.74,000 Mortgage Payable 2,50,000 7 Сapital 4,05,000 8 Drawing 50,000 Service Revenue 2,25,000

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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please help with questions a,b,c,d at the top and question e at the bottom asap for my accounting homework.
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Instructions The following selected transactions were completed by Interlocking Devices Co., a supplier of zippers for clothing: 2017 Dec 2018 Feb 7 Received from Unitarian Clothing & Bags Co., on account, a $30,000, 60-day, 6% note dated December 7 Recorded an adjusting entry for accrued interest on the note of December 7. Recorded the closing entry for interest revenue. DATE 31 31 5 Received payment of note and interest from Unitarian Clothing & Bags Co. Joumalize the entries to record the transactions. If no entry is required, simply skip to the next transaction Refer to the Chart of Accounts for exact wording of account titles. Assume a 360-day DESCRIPTION POST. REF. DEBIT CREDIT ASSETS LIABILITIES EQUITY
Aa 43.
7. From the give trial balance, prepare adjusting journal entries at the end of the year: Maria Cristina Pascua, CPA Trial balance December 31, 2017 DEBIT CREDIT 53,000 85,000 35,000 Cash Accounts receivable Furniture & fixture Accounts payable Pascua, Capital 27,000 165,000 56,000 Service Income Salaries Expense 75,000 a. Cash collected from a customer's account in the amount of P10,000 was not recorded in the book. This covered by Official receipt No. 0521 dated December 31, 2017. Debit; Credit; b. Payment of account to a supplier in the amount of P15,000 was not recorded. This is covered by check No. 00751 as per check stub on file. Debit; Credit; c. Cash withdrawal of the owner amounting to P5,000 was erroneously charged to Salaries Expense. Debit; Credit; d. Furniture and fixtures was acquired on March 31, 2017 with an estimated life of 5 years with a residual value of P5,000 at the end of its life. Debit; Credit; e. Provision for doubtful accounts are estimated to be at 1.5 % of…
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PA10. LO 4.3Prepare journal entries to record the following transactions. Create a T-account for Interest Payable, post any entries that affect the account, and tally the ending balance for the account (assume Interest Payable beginning balance of $2,500). March 1, paid interest due on note, $2,500 December 31, interest accrued on note payable, $4,250
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Tech Support Services has the following unadjusted trial balance as of January 31, 2019: Tech Support Services Unadjusted Trial Balance January 31, 2019 Debit Balances Credit Balances Cash 25,550 Accounts Receivable. 44,050 Supplies... Prepaid Insurance Equipment.... Notes Payable.. Accounts Payable Thad Engelberg, Capital Thad Engelberg, Drawing Fees Earned..... 6,60 3,600 162,000 75,000 13,200 101,850 33,000 534,000 Wages Expense Rent Expense Advertising Expense... Gas, Electricity, and Water Expense 306,000 62,550 23,850 17,000 684,260 724,050 The debit and credit totals are not equal as a result of the following errors: a. The cash entered on the trial balance was overstated by $8,000. b. A cash receipt of $4,100 was posted as a debit to Cash of $1,400
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