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A-Prepare General Journal Entry about the given Transaction below. B-Prepare Adjusting Journal Entry about the given Transaction below. C- Prepare Closing Journal Entry about the
A-Prepare General Journal Entry about the given Transaction below.
B-Prepare Adjusting Journal Entry about the given Transaction below.
C- Prepare Closing Journal Entry about the given Transaction below.
| No. | Items |
| 1 | On December 1, Intel Inc. Received 80.000 TL cash from stockholders. |
| 2 | On December 5, Intel Inc. Purchased gaming mainboard stand to storage gaming mainboard for 20.000 TL. |
| 3 | On December 8, Intel Inc. Prepaid twelve months's office rent of 5.000 TL for each month. (5.000 TL per month as assumed)(5000 x 12) |
| 4 | On December 11, Intel Inc. Purchased 10 gaming mainboard from Asus for 10.000 TL on credit 1/10, n/30. |
| 5 | On December 13, Intel Inc. Sold 5 gaming mainboard to a local computer store for 10.000 TL on credit 2/10, n/30. |
| 6 | On December 17, Intel Inc. Received returned 1.000 TL worth mainboard from the local store of the December 13 sale. |
| 7 | On December 19, Intel Inc. Returned the mainboard of 500 TL back to Asus for broken product. |
| 8 | On December 21, Intel Inc. Purchased 2 pcs. of mainboard worth 2.000 TL and other 2pcs. mainboard worth 5.000 TL from MSI Inc. n/45. |
| 9 | On December 22, Intel Inc. Received 8.820 TL from local computer store. |
| 10 | On December 27, Intel Inc. Sold 2 pcs. of mainboard to MSI Inc. on credit n/45.(it assumed Sale amount is 4000) |
| 11 | On December 28, Intel Inc. Paid cash of 9.405 TL to Asus. |
| 12 | On December 29, Intel Inc. Paid cash of 7.000 TL to MSI Inc. |
| 13 | On December 30, Intel Inc Incurred 15.500 TL to Office Cleaning Service, Delivery Expense,Bill Expenses, and Salary Expenses. |
| The data developed for the December 31 adjusting entries are as follows: | |
| No. | Items |
| a | Outstanding electricity charges - $500 |
| b | 1 pcs. of headphone broken, hence its worthless1(assumed debit note to be given to supplier) |
| c | Intel Inc. deprecation at the rate of 10% on declining balance method on the equipment purchased.(20000 x 10% / 12) |
| d | Intel Inc. gave a loan of 10.000 TL to Tiger Inc. Interest accrued on the loan 85 TL. |
| e | Rent of 5.000 TL pertains to next month. ( assumed related to the expiry of current month) |
| (it is assumed there is opening balance in cash and capital 20000) |
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Managerial Accounting Tools for business decision making
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
6th Edition
978-1118096895
