Name: TA: BUS ADM 201 Introduction to Financial Accounting Fall 2019 EXTRA CREDIT I Due at 11:59 on Saturday, October 19t GRADING: Worth up to 15 points. Carefully READ the requirements on page 2 first. Partially completed problems will earn no credit-that means all requirements must be FULLY completed. All work must be completed by hand. If you complete all items as requested, you will earn at least 7.5 points. The remaining points are dependent upon the accuracy of your answers. Round amounts to the nearest Disc #: dollar, if applicable. Jamukha Company's post-closing trial balance for October 31, 2019 showed the following account balances: Debits Credits Cash 24,750 Accumulated depreciation Accounts payable Uneamed service reverue 8,000 24,250 4,800 1,500 40,000 Accounts receivable Supplies Equipment 18,000 1,100 84,000 Salaries payable Common stock Retained earnings 49,300 127,850 127,850 During November the following transactions were completed. A perpetual inventory system is used. Paid $2,100 for salaries due to employees, of which $1,500 is for October Nov. 8 salaries payable and $600 is for November. Received $13,750 cash from customers in payment of account. 10 Purchased merchandise on account from Charlie Wholesale Supply for $10,000, terms 2/10, n/30. Sold merchandise on account for $9,000, terms 2/10, n/30. The cost of the merchandise sold was $7,500. Received credit from Charlie Wholesale Supply for merchandise returned 11 12 15 $500. Received collections in full, less discounts, from customers billed on sales of $9,000 on Nov. 12. Paid Charlie Wholesale Supply in full, less discount. (Don't forget the return on Nov. 15.) Received $31,250 cash for services performed in November. Purchased equipment on account $17,000. Purchased supplies on account $2,250. 19 20 22 25 27 Paid creditors $9,200 of accounts payable due. Paid November rent $3,750 (note that we are not paying rent at the beginning of the month). Paid salaries $3,600 for wages incurred this week. Performed services on account and billed customers for services provided 28 29 $1,600. Received $1,000 from customers for services to be provided in the future 29 9 29 Adjustment data: 1. Supplies on hand are valued at $2,233. 2. Accrued salaries payable as of 11/30 are $1,200. 3. Depreciation for the month is $6,500. 4. $1,750 of the unearned service revenue has not been earned by month end. Date Account Titles Credit omual las Debit (d), (e) Worksheet Name: TA: BUS ADM 201 Introduction to Financial Accounting Fall 2019 EXTRA CREDIT I Due at 11:59 on Saturday, October 19t GRADING: Worth up to 15 points. Carefully READ the requirements on page 2 first. Partially completed problems will earn no credit-that means all requirements must be FULLY completed. All work must be completed by hand. If you complete all items as requested, you will earn at least 7.5 points. The remaining points are dependent upon the accuracy of your answers. Round amounts to the nearest Disc #: dollar, if applicable. Jamukha Company's post-closing trial balance for October 31, 2019 showed the following account balances: Debits Credits Cash 24,750 Accumulated depreciation Accounts payable Uneamed service reverue 8,000 24,250 4,800 1,500 40,000 Accounts receivable Supplies Equipment 18,000 1,100 84,000 Salaries payable Common stock Retained earnings 49,300 127,850 127,850 During November the following transactions were completed. A perpetual inventory system is used. Paid $2,100 for salaries due to employees, of which $1,500 is for October Nov. 8 salaries payable and $600 is for November. Received $13,750 cash from customers in payment of account. 10 Purchased merchandise on account from Charlie Wholesale Supply for $10,000, terms 2/10, n/30. Sold merchandise on account for $9,000, terms 2/10, n/30. The cost of the merchandise sold was $7,500. Received credit from Charlie Wholesale Supply for merchandise returned 11 12 15 $500. Received collections in full, less discounts, from customers billed on sales of $9,000 on Nov. 12. Paid Charlie Wholesale Supply in full, less discount. (Don't forget the return on Nov. 15.) Received $31,250 cash for services performed in November. Purchased equipment on account $17,000. Purchased supplies on account $2,250. 19 20 22 25 27 Paid creditors $9,200 of accounts payable due. Paid November rent $3,750 (note that we are not paying rent at the beginning of the month). Paid salaries $3,600 for wages incurred this week. Performed services on account and billed customers for services provided 28 29 $1,600. Received $1,000 from customers for services to be provided in the future 29 9 29 Adjustment data: 1. Supplies on hand are valued at $2,233. 2. Accrued salaries payable as of 11/30 are $1,200. 3. Depreciation for the month is $6,500. 4. $1,750 of the unearned service revenue has not been earned by month end. Date Account Titles Credit omual las Debit (d), (e) Worksheet