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Acc 300 Problem Set 4-2a

In: Business and Management

Submitted By cusefan21
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PROBLEM 4-2A |
(a)

| Date | | Account Titles | | Debit | | Credit | 1. | 2012 June 30 | | Supplies Expense Supplies ($2,000 – $720) | | 1,280 | | 1,280 | | | | | | | | | 2. | 30 | | Utilities Expense Accounts Payable | | 180 | | 180 | | | | | | | | | 3. | 30 | | Insurance Expense Prepaid Insurance ($2,880 ÷ 12 months) | | 240 | | 240 | | | | | | | | | 4. | 30 | | Unearned Service Revenue Service Revenue | | 4,100 | | 4,100 | | | | | | | | | 5. | 30 | | Salaries and Wages Expense Salaries and Wages Payable | | 1,250 | | 1,250 | | | | | | | | | 6. | 30 | | Depreciation Expense Accumulated Depreciation— Equipment | | 250 | | 250 | | | | | | | | | 7. | 30 | | Accounts Receivable Service Revenue | | 3,900 | | 3,900 |

(b)

Cash | 6/30 Bal. 6,850 | |

Accounts Receivable | 6/30 Bal. 7,000 6/30 3,900 | | 6/30 Bal. 10,900 | | | | Prepaid Insurance | 6/30 Bal. 2,880 | 6/30 240 | 6/30 Bal. 2,640 | |

Supplies | 6/30 Bal. 2,000 | 6/30 1,280 | 6/30 Bal. 720 | |

PROBLEM 4-2A (Continued)

Equipment | 6/30 Bal. 15,000 | |

Accumulated Depreciation— Equipment | | 6/30 250 | | 6/30 Bal. 250 |

Accounts Payable | | 6/30 Bal. 4,230 | | 6/30 180 | | 6/30 4,410 |

Salaries and Wages Payable | | 6/30 1,250 | | 6/30 Bal. 1,250 |

Unearned Service Revenue | 6/30 4,100 | 6/30 Bal. 5,200 | | 6/30 Bal. 1,100 |

Common Stock | | 6/30 Bal. 22,000 |

Service Revenue | | 6/30 Bal.…...

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