Paul Services | |||
Trial Balance As At 30 June 2016 | |||
Account No | Account Name | Debit | Credit |
101 | Cash at Bank | ||
105 | Accounts Receivable | ||
115 | Supplies | ||
120 | Prepaid Insurance | ||
135 | Office Furniture | ||
137 | Acc. Depreciation - Furniture | ||
140 | Office Equipment | ||
141 | Acc. Depreciation - Equipment | ||
145 | Store Equpment | ||
146 | Acc. Depreciation - Equipment | ||
170 | Automobile | ||
171 | Acc. Depreciation - Equipment | ||
201 | Accounts Payable | ||
201 | Interest Payable | ||
201 | Unearned Revenue | ||
201 | Loan Payable | ||
201 | Mortgage Payable | ||
201 | Paul's Capital | ||
201 | Paul's Drawings | ||
201 | Revenue | ||
201 | Advertising Expense | ||
201 | Automobile Expense | ||
201 | Depreciation Expense - Furniture | ||
201 | Depreciation Expense -Equipment | ||
201 | Depreciation Expense - Store Equipment | ||
201 | Depreciation Expense - Automobile | ||
201 | Insurance Expense | ||
201 | Maintenance Expense | ||
201 | Miscellaneous Expense | ||
201 | Rent Expense | ||
201 | Supplies Expense | ||
201 | Utilities Expense | ||
201 | Interest Expense | ||
0 | 0 | ||
Reconciliation0 Has to be |
B/S | P&L |
Current Asset | |
Current Asset | |
Current Asset | |
Current Asset | |
Fixed Asset | |
Fixed Asset | |
Fixed Asset | |
Fixed Asset | |
Fixed Asset | |
Fixed Asset | |
Fixed Asset | |
Fixed Asset | |
Current Liability | |
Current Liability | |
Current Liability | |
Non Current Liability | |
Non Current Liability | |
Equity | |
Equity | |
Revenue | |
Expense | |
Expense | |
Expense | |
Expense | |
Expense | |
Expense | |
Expense | |
Expense | |
Expense | |
Expense | |
Expense | |
Expense | |
Expense |
Adjusting Transactions | |||||||
Interest has accrued on the mortgage but not paid | |||||||
DR | Interest Expense | ||||||
CR | Interest Payable | ||||||
Adjustment for the period, ending supplies remains on hand $417.50 | |||||||
DR | Supplies Expense | 1252.5 | Purchase = Opening B | ||||
CR | Supplies | 1252.5 | |||||
Prepaid Insurance shows a total value remaining of $668 | |||||||
DR | Insurance Expense | 668 | |||||
CR | Prepaid Insurance | 668 | |||||
Depreciation adjustment for the period SL (Straight Line) method | Life = 5 yea | ||||||
Furniture Va | |||||||
DR | Depreciation Expense - Furniture | 8000 | Less: Residu | ||||
CR | Accu. Depreciation - Furniture | 8000 | Net Furnitur | ||||
Adjustment for the period SL Method - Office Equipment | Life = 5 yea | ||||||
Furniture Va | |||||||
DR | Depreciation Expense - Office Equipment | Less: Residu | |||||
CR | Accu. Depreciation - Office Equipment | Net Furnitur | |||||
Adjustment for the period SL Method - Store Equipment | Life = 5 yea | ||||||
Furniture Va | |||||||
DR | Depreciation Expense - Store Equipment | Less: Residu | |||||
CR | Accu. Depreciation - Store Equipment | Net Furnitur | |||||
Adjustment for the period SL Method - Automobile | Life = 5 yea | ||||||
Furniture Va | |||||||
DR | Depreciation Expense - Automobile | Less: Residu | |||||
CR | Accu. Depreciation - Automobile | Net Furnitur |
41800 |
-1800 |
8000 |
41800 |
-1800 |
8000 |
41800 |
-1800 |
8000 |
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