The first project for the semester will involve the following items to turn in: 1) An adjusted trial balance. 2) An Income statement.

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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The first project for the semester will involve the following items to turn in:

1) An adjusted trial balance.

2) An Income statement.

 

JOURNAL
Date
Particulars
L.F.
Dr. Amount (in $)
Cr. Amount (in $)
December 1
Bank
15,100
Common Stock
15,100
December 1
Supplies
Accounts Payable
226
226
December 4
Cash
384
Sales
384
December 5
Accounts Payable
226
Cash
226
December 6
Supplies
Accounts Payable
469
469
December 8
Accounts Receivable
445
Sales
445
December 9
Accounts Receivable
462
Sales
462
December 10
Insurance
624
Cash
624
December 11
Utility Expense
47
Cash
47
December 16
Supplies
170
Accounts Payable
170
December 16
Cash
445
Accounts Receivable
445
December 18
Accounts Receivable
581
Sales
581
December 19
Accounts Payable
639
Cash
639
December 20
Supplies
Accounts Payable
107
107
December 22
Accounts Receivable
336
Sales
336
December 31
Gross Wage Expense
1,012
Outstanding wages expense
1,012
Transcribed Image Text:JOURNAL Date Particulars L.F. Dr. Amount (in $) Cr. Amount (in $) December 1 Bank 15,100 Common Stock 15,100 December 1 Supplies Accounts Payable 226 226 December 4 Cash 384 Sales 384 December 5 Accounts Payable 226 Cash 226 December 6 Supplies Accounts Payable 469 469 December 8 Accounts Receivable 445 Sales 445 December 9 Accounts Receivable 462 Sales 462 December 10 Insurance 624 Cash 624 December 11 Utility Expense 47 Cash 47 December 16 Supplies 170 Accounts Payable 170 December 16 Cash 445 Accounts Receivable 445 December 18 Accounts Receivable 581 Sales 581 December 19 Accounts Payable 639 Cash 639 December 20 Supplies Accounts Payable 107 107 December 22 Accounts Receivable 336 Sales 336 December 31 Gross Wage Expense 1,012 Outstanding wages expense 1,012
December 31 Closing Stock
Trading A/c
152
152
December 31 Prepaid Insurance
520
Insurance
520
December 31 Retained Earnings
Dividend Payable
158
158
Dividend Payables
158
Bank
158
Transcribed Image Text:December 31 Closing Stock Trading A/c 152 152 December 31 Prepaid Insurance 520 Insurance 520 December 31 Retained Earnings Dividend Payable 158 158 Dividend Payables 158 Bank 158
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