Question
Beginning account balances for 2019 Cash 150.000 , Land 20,000 , supplies 50,000 , unearned revenue 100,000 , common stock , 100,000 , retaines earnings
Beginning account balances for 2019
Cash 150.000 , Land 20,000 , supplies 50,000 , unearned revenue 100,000 , common stock , 100,000 , retaines earnings 20,000
The following are the general journal information of Maxwell Company for 2019.
| Maxwell Company General Journal, 2019 | |||
| Event | Account Titles | Debit | Credit |
| 1. | Cash | 30,000 |
|
|
| Bank Loan |
| 30,000 |
|
|
|
|
|
| 2. | Office Equipment | 15,000 |
|
|
| Cash |
| 15,000 |
|
|
|
|
|
| 3 | Account Receivable | 35,000 |
|
|
| Service Revenue |
| 35,000 |
|
|
|
|
|
| 4. | Cash | 15,000 |
|
|
| Account Receivable |
| 15,000 |
|
|
|
|
|
| 5. | Dividends | 5,000 |
|
|
| Cash |
| 5,000 |
|
|
|
|
|
| 6. | Prepaid Rent | 12,000 |
|
|
| Cash |
| 12,000 |
|
|
|
|
|
| 7. | Unearned Revenue | 50,000 |
|
|
| Service Revenue |
| 50,000 |
|
|
|
|
|
| 8. | Rent Expense | 6,000 |
|
|
| Prepaid Rent |
| 6,000 |
|
|
|
|
|
| 9. | Supplies Expense | 10,000 |
|
|
| Supplies |
| 10,000 |
Required: [ 13 Marks]
- Prepare T- Account [5 Marks]
- Prepare Trial Balance [3 Marks]
- Prepare Income Statement [2 Marks]
- Prepare Balance Sheet [3 Marks]
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Management Accounting For Business Decisions
Authors: Colin Drury
2nd Edition
1861527705, 978-1861527707
