i need help with the last 2 sections- the t-accounts and the unadjust trial. Ive done it on my own but i feel like ive only done them wrong. Thank you!
4000 a TRANSACTION ANALYSIS AND POSTING TO T-ACCOUNTS See the last page for T-accounts (a) Provide website design services for $40,000. Debit and credit the accounts affected Cash 40000 Sales Rev. Ensure the equation still balances and debits -credits Assets Liabilities Stockholders' Equity 40000 40,ooo (6) Provide website design services to Acme Company, for $20,000 on account. We expect Acme to pay in the future. Debit and credit the accounts affected Acme Company 2oooo 2000g + Stockholders' Equity service Rev. Ensure the equation still balances and debits credits Assets Liabilities 20,000 (c) Collect $18,000 from Acme Company on account. 20,000 118000 18000 Debit and credit the accounts affected Cash Acme company Ensure the equation still balances and debits = credits Assets Liabilities + Stockholders' Equity 3-1 Stockholders' (d) Sell a $1,000 gift certificate. Debit and credit the accounts affected 10oo cash Certificate outstanding 1000 Ensure the equation still balances and debits -credits Assets Liabilities + Stockholders' Equity 1ooo loco (e) Customer redeems $1,000 gift certificate for website design services. Debit and credit the accounts affected (earned Rew) 100o Certificate outstanding web design service Rev. 1000 Ensure the equation still balances and debits -credits Assets Liabilities Stockholders' Equity (1) Paid employees $16,000 earned. Debit and credit the accounts affected 16000 Employee Salary caise 16000 + Ensure the equation still balances and debits = credits Assets Liabilities Stockholders' Equity 16000 leooo (8) Paid $3.000 insurance for next year in advance. Debit and credit the accounts affected 3000 Prepaid Insurance 3000 Ensure the equation still balances and debits -credits Assets Liabilities + Stockholders' Equity Pralinsurance cash (2000) V) Paid $9,000 rent for next six months in advance. Debit and credit the accounts affected 9000 Prepaid Rent Cash 900 e Ensure the equation still balances and debits -credits Assets Liabilities + Stockholders' Equity pPaid Rent 9000 Carch gooo V Received $250 telephone bill for previous month, to be paid next month. Debit and credit the accounts affected telephone expense 250 250 accounts payable + Ensure the equation still balances and debits = credits Assets Liabilities 250 Stockholders' Equity 250 3-3 Received $500 utility bill for this month, to be paid immediately. Debit and credit the accounts affected Utilities &are expense accounts Payable oo + Stockholders' Equity Ensure the equation still balances and debits -credits Assets Liabilities SOO + Cash- BegBal 3,100 Accounts Payable + 0 BegBal + Contributed Capital - 10,000 Beg Bal - Notes Payable + 15,000 BegBal - Retained Earnings + 0 Beg Bal + Supplies - 900 BegBal - Unearned Revenue + 0 BegBal - Revenue + 0 BegBal + Accounts Receivable - BegBal 0 + Wage Expense - BegBal 0 + Prepaid Rent- Beg Bal 0 9000 9000 9000 9000 + Prepaid Insurance - BegBal 0 3000 3000 3000 3000 + Utilities Expense - BegBal 0 Soo 500 SO 500 i + Telephone Expense- BegBal 0 aso 2SO 250 Property, Plant & Equipment BegBal 21,000 3-5 PREPARATION OF UNADJUSTED TRIAL BALANCE World Wide Webster Unadjusted Trial Balance January 312, 2010 Account Debit Credit Cash Supplies Accounts Receivable Prepaid Rent Prepaid Insurance Property, Plant & Equipment Accounts Payable Notes Payable Unearned Revenue Contributed Capital Retained Earnings evenue age Expense ilities Expense ephone Expense Totals 3-6