Accounting Journal General ledger And Post Close trial Balance
Be sure to include all related transation detaila are in the explanation. Names, Ck#, Inv#. Also, use the transaction Letter (A,B,C...) at the beginning of each explanation. (Not demonstrated in video.) READ THESE AND ALL INSTRUCTIONS CAREFULLY! 4. Format for printing & Submit for grading 5. Do not continue until Evans1 graded and you have corrected your original Evans Project. Accnt# Account Titles Evans C Consulting General Journal Description Date PR Dr Cr 101 Please read instructions especially those highlighted in yellow! (delete this) Be sure to format all pages for printing! (delete this). For this project all JE's may be entered with no decimal places. (delete this) See chart of accounts to the right for account names. (Delete this.) 112 114 115 121 122 201 311 312 411 519 511 518 CASH ACCOUNT RECEIVABLE SUPPLIES PREPAID RENT EQUIPMENT ACCUM DEPR - EQUIP NOTE PAYABLE EVANS, CAPITAL EVANS, WITHDRAWALS SERVICE REVENUE SUPPLIES EXPENSE RENT EXPENSE DEPRECIATION EXP-EQ Evans1: Journalize and post the following June transactions. Include full details in JE explanation. Transaction Ref: Yr: 2012 External Entries included in Trial Balance A 1-Jun Dan Evans invests $18,000 cash and $8,000 of supplies in business: Evans Consulting. B 2-Jun Evans pays seven month's rent in advance totaling $7,000 Ck # 101 c 10-Jun Evans provides services of $20,000 on account to Aatrix Corp. D 11-Jun Evans purchases equipment for $33,000 with a note payable from Home Depot Inv #27487 Useful life of the equipment is 11 years. No salvage value. E 16-Jun Evans collects $2,000 of the Accounts Receivable from Aatrix Corp. F 18-Jun Dan Evans takes a $1,500 draw Ck # 102 G 20-Jun Evans purchased office supplies for $2,500 Inv# 12345 Ck #103 from Office Depot Adjusting Entries H 30-Jun June Rent Used i 30-Jun Equipment depreciated for one month. J 30-Jun Took physical Inventory of Supplies totalling $1,000 Closing Entries KL See page 170-171 v27. Remember Explanation required: K. Closing, L. Closing, etc EVANS CONSULTING General Ledger CASH Accnt #: 101 2012 Balance t Ret Date Description Debit Credit Debit Credit Account: ACCOUNT RECEIVABLE Accnt #: 112 Balance Date Description Ref Debit Credit Debit Credit Account: SUPPLIES Acont #: 114 Balance 2012 t Ref Date Description Debit Credit Debit Credit Account: PREPAID RENT Accnt #: 115 Balance t Ref Date Description Debit Credit Debit Credit Account: EQUIPMENT Accnt #: 121 Balance t Ref Date Description Debit Credit Debit Credit ACCUMULATED DEPREC - EQUIPMENT Acent #: 122 Balance t Ref Date Description Debit Credit Debit Credit t Ref Date Description Debit Credit Debit Credit EYANS, CAPITAL Acent #: 2012 311 Balance Date Description Ref Debit Credit Debit Credit EYANS, VITHDRAVALS Accnt #: 312 Balance t Ref Date Description Debit Credit Debit Credit INCOME SUMMARY Accnt #: 320 Balance Date Description Ref Debit Credit Debit Credit Income Summary account not used. Prior version of book 26e used the 4 step closing process where this was use SERVICE REVENUE Accnt #: 411 Balance t Ref Date Description Debit Credit Debit Credit RENT EXPENSE Acont : 511 Balance Date Description Ref Debit Credit Debit Credit DEPREC EXPENSE - EQUIPMENT Accnt #: 518 Balance Date Description Ref Debit Credit Debit Credit RENT EXPENSE Accnt #:. 511 Balance t Ref Date Description Debit Credit Debit Credit DEPREC EXPENSE - EQUIPMENT Acent #: 518 Balance t Ref Date Description Debit Credit Debit Credit SUPPLIES EXPENSE Acent #: 519 Balance t Ref Date Description Debit Credit Debit Credit Total Debits and Credits s/b equial Out of balance -15 pts >> Out of balance / 2 = Debits & Credit in Journal >> Difference-3 pts >> #REF! #REF! #REF! Evans Consulting ACCOUNT NAME Acct # DEBIT CREDIT Amounts listed here should be coming directly from the related GL account. The purpose of the trial balance is to illustrate the balances in all the accounts with balances and to prove that the accounting system is in balance. There will be a 15 point deduction for each account amount listed here that does not reconcile with the ending balance of the related GL account in the general ledger. Also a 15 point deduction for each account with a balance in the GL that is not listed here. Be sure to include all related transation detaila are in the explanation. Names, Ck#, Inv#. Also, use the transaction Letter (A,B,C...) at the beginning of each explanation. (Not demonstrated in video.) READ THESE AND ALL INSTRUCTIONS CAREFULLY! 4. Format for printing & Submit for grading 5. Do not continue until Evans1 graded and you have corrected your original Evans Project. Accnt# Account Titles Evans C Consulting General Journal Description Date PR Dr Cr 101 Please read instructions especially those highlighted in yellow! (delete this) Be sure to format all pages for printing! (delete this). For this project all JE's may be entered with no decimal places. (delete this) See chart of accounts to the right for account names. (Delete this.) 112 114 115 121 122 201 311 312 411 519 511 518 CASH ACCOUNT RECEIVABLE SUPPLIES PREPAID RENT EQUIPMENT ACCUM DEPR - EQUIP NOTE PAYABLE EVANS, CAPITAL EVANS, WITHDRAWALS SERVICE REVENUE SUPPLIES EXPENSE RENT EXPENSE DEPRECIATION EXP-EQ Evans1: Journalize and post the following June transactions. Include full details in JE explanation. Transaction Ref: Yr: 2012 External Entries included in Trial Balance A 1-Jun Dan Evans invests $18,000 cash and $8,000 of supplies in business: Evans Consulting. B 2-Jun Evans pays seven month's rent in advance totaling $7,000 Ck # 101 c 10-Jun Evans provides services of $20,000 on account to Aatrix Corp. D 11-Jun Evans purchases equipment for $33,000 with a note payable from Home Depot Inv #27487 Useful life of the equipment is 11 years. No salvage value. E 16-Jun Evans collects $2,000 of the Accounts Receivable from Aatrix Corp. F 18-Jun Dan Evans takes a $1,500 draw Ck # 102 G 20-Jun Evans purchased office supplies for $2,500 Inv# 12345 Ck #103 from Office Depot Adjusting Entries H 30-Jun June Rent Used i 30-Jun Equipment depreciated for one month. J 30-Jun Took physical Inventory of Supplies totalling $1,000 Closing Entries KL See page 170-171 v27. Remember Explanation required: K. Closing, L. Closing, etc EVANS CONSULTING General Ledger CASH Accnt #: 101 2012 Balance t Ret Date Description Debit Credit Debit Credit Account: ACCOUNT RECEIVABLE Accnt #: 112 Balance Date Description Ref Debit Credit Debit Credit Account: SUPPLIES Acont #: 114 Balance 2012 t Ref Date Description Debit Credit Debit Credit Account: PREPAID RENT Accnt #: 115 Balance t Ref Date Description Debit Credit Debit Credit Account: EQUIPMENT Accnt #: 121 Balance t Ref Date Description Debit Credit Debit Credit ACCUMULATED DEPREC - EQUIPMENT Acent #: 122 Balance t Ref Date Description Debit Credit Debit Credit t Ref Date Description Debit Credit Debit Credit EYANS, CAPITAL Acent #: 2012 311 Balance Date Description Ref Debit Credit Debit Credit EYANS, VITHDRAVALS Accnt #: 312 Balance t Ref Date Description Debit Credit Debit Credit INCOME SUMMARY Accnt #: 320 Balance Date Description Ref Debit Credit Debit Credit Income Summary account not used. Prior version of book 26e used the 4 step closing process where this was use SERVICE REVENUE Accnt #: 411 Balance t Ref Date Description Debit Credit Debit Credit RENT EXPENSE Acont : 511 Balance Date Description Ref Debit Credit Debit Credit DEPREC EXPENSE - EQUIPMENT Accnt #: 518 Balance Date Description Ref Debit Credit Debit Credit RENT EXPENSE Accnt #:. 511 Balance t Ref Date Description Debit Credit Debit Credit DEPREC EXPENSE - EQUIPMENT Acent #: 518 Balance t Ref Date Description Debit Credit Debit Credit SUPPLIES EXPENSE Acent #: 519 Balance t Ref Date Description Debit Credit Debit Credit Total Debits and Credits s/b equial Out of balance -15 pts >> Out of balance / 2 = Debits & Credit in Journal >> Difference-3 pts >> #REF! #REF! #REF! Evans Consulting ACCOUNT NAME Acct # DEBIT CREDIT Amounts listed here should be coming directly from the related GL account. The purpose of the trial balance is to illustrate the balances in all the accounts with balances and to prove that the accounting system is in balance. There will be a 15 point deduction for each account amount listed here that does not reconcile with the ending balance of the related GL account in the general ledger. Also a 15 point deduction for each account with a balance in the GL that is not listed here
