The general ledger says November 30 but supposed to say Dec 30
All the information for December
Principles of Accounting! Comprehensive Problem 1. Joumalize the following December transactions Received 180 as advance payments on storage rental Dec. Paid accounts payable of 5720 Dec. 6 Paid incrace premiums of SR 100 in advance Dec. 7 Deposited $8,700 from completed moving jobs. Dec. 10 Purchased $1,560 of moving supplies on credit Dec. 12 Acquired additional truck worth 556,000 by paying S6000 cash and signing a long-term este payable for the balance Dec. 14 Paid wage of $2.700 for the period Dec. 1-14 Dec. 17 Parchuud 5130 of office supplies on credit Dec. 21 Deposited $6.260 from completed moving jobs and S1,500 of storage Revue receipts Dec. 24 Paid S60 Sor repairs to truck for damages sustained in an accident Dec. 28 Paid wages of $2.50 for the period Dec. 15-2R. Dec. 30 Paid 5000 to a magazine for advertisements that appeared in December Dec. 30 George Sanders (owner) withdrew 51.600 cash for persotulu. Dec. 31 Deposited 54,700 from completed moving jobs and S500 of storage Revue receipts 2. Pet the above December action into the General Ledger accounts 3. Prepare and trial balance 4. Jamalize the Sollowing adjusting entrice Unpaid wages were 5610 u of December 31 The December 31 office supplies in very was SINO The moving applies inventory was 54,530 December 31 d. The expired portion of the prepaid in a $9.475 sx of Dec. 31 Depreciation for the your on the trucks was $50,350 Depreciation for the year on the building was 57,400 Uneamed strage revenue balance at Dec 31 was $650 Interest expense on the notes while was $24,700 5. Pat the adjusting entries 6. Prepare an adjusted trial balance 7. Prepare an income statement 8. Prepare a statement of owner's equity 9. Prepare a balance sheet 10. Jumalize the closing entries 11. Put the closing entries 12. Prepare a post-closing trial balance CHECK FIGURES: Unadused trial balance Adjusted trial balance Net Income 798,935 8R1,995 30.050 Paramount Moving and Storage General Journal Post Dats Ibit Credit Account Thies and Explanation December Journal Entries Paramount Moving and Storage GENERAL LEDGER 101 Cash Date Nov. 30 BALANCE Explanation PR Debit Credit Credit Debit 51,610 124 Office Supplies Date Nov. 30 BALANCE Explanation PR Debit Credit Debit Credit 450 126 Moving Supplies Date Nov. 30 BALANCE Explanation PR Debit Credit Credit Debit 8,700 Prepaid Insurance Date Nov. 30 BALANCE 126 Credit Explanation PR Debit Credit Debit 7,475 153 Trucks Date Nov. 30 BALANCE Explanation PR Debit Credit Debit Credit 350,000 Accumulated Depreciation - Trucks Datel Explanation Nov. 30 BALANCE PR Debit Credit Debit 154 Credit 200,000 173 Building Date Explanation PR Debit Credit Debit Credit Nov. 30 BALANCE 185,000 174 Accumulated Depreciation - Building Date Explanation Nov. 30 BALANCE PR Debit Credit Debit Credit 29,120 201 Accounts Payable Date Nov. 30 BALANCE Explanation PR Debit Credit Debit Credit 2,350 Interest Payable Date 203 Credit Explanation PR Debit Credit Debit Nov. 30 BALANCE 0 210 Wages Payable Datel Explanation PR Debit Credit Debit Credit Nov. 30 BALANCE 0 Unearned Storage Revenue Date Nov. 30 BALANCE Explanation PR Debit Credit Debit 233 Credit 700 251 Long-Term Notes Payable Date Nov. 30 BALANCE Explanation PR Debit Credit Debit Credit 245,000 301 George Sanders, Capital Date Nov. 30 BALANCE Explanation PR Debit Credit Debit Credit 42,205 George Sanders, Withdrawal Date 302 Credit Explanation PR Debit Credit Debit Nov. 30 BALANCE 26,500 401 Moving Revenue Date Nov. 30 I BALANCE Explanation PR Debit Credit Debit Credit 179,600 402 Storage Revenue Datel Explanation PR Debit Credit Debit Credit 26,750 Nov. 30 BALANCE 506 Depreciation Expense - Building Date Explanation Nov. 30 BALANCE PR Debit Credit Debit Credit 0 Depreciation Expense - Trucks Date Nov. 30 BALANCE 506 Credit Explanation PR Debit Credit Debit 0 Wages Expense Date Nov. 30 BALANCE 506 Credit Explanation PR Debit Credit Debit 41,700 533 Interest Expense Date Nov. 30 BALANCE Explanation PR Debit Credit Debit Credit 0 537 Insurance Expense Date Nov. 30 BALANCE Explanation PR Debit Credit Debit Credit 0 Office Supplies Expense Datel Nov. 30 BALANCE 550 Credit Explanation PR Debit Credit Debit 0 552 Moving Supplies Expense Date Nov. 30 BALANCE Explanation PR Debit Credit Debit Credit 0 Advertising Expense Date Nov. 30 BALANCE 555 Credit Explanation PR Debit Credit Debit 5,900 Gas, Oil and Repairs Expense Date Nov. 30 BALANCE 569 Credit Explanation PR Debit Credit Debit 31,510 General and Administrative Expenses Datel Explanation Nov. 30 BALANCE 572 Credit PR Debit Credit Debit 16,880 Income Summary 901 Credit Date Explanation PR Debit Credit Debit Paramu Moving and Chad Trillance 31-Dec-1 Paras Movies and Sea Ad und Trane 1 2 Paramount Moving and Storage Income Statement For the year ended December 31, 2019 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 27 28 Paramount Moving and Storage Statement of Owner's Equity For the year ended December 31, 2019 29 30 31 George Sanders, Capital, January 1, 2019 32 33 34 35 36 37 38 39 George Sanders, Capital, December 31, 2015 40 41 42 43 44 45 Paramount Moving and Storage Balance Sheet As of December 31, 2019 47 Assets 49 SO 51 52 53 SS 56 57 59 60 61 62 Total Assets Liabilities 65 66 67 68 69 70 71 72 Total Liabilities 73 74 Owner's Equity 75 76 Total Liabilities and Owner's Equity 77 78 79 80 1 2 3 Paramount Moving and Storage Post Closing Trial Balance 31-Dec-19 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 Principles of Accounting! Comprehensive Problem 1. Joumalize the following December transactions Received 180 as advance payments on storage rental Dec. Paid accounts payable of 5720 Dec. 6 Paid incrace premiums of SR 100 in advance Dec. 7 Deposited $8,700 from completed moving jobs. Dec. 10 Purchased $1,560 of moving supplies on credit Dec. 12 Acquired additional truck worth 556,000 by paying S6000 cash and signing a long-term este payable for the balance Dec. 14 Paid wage of $2.700 for the period Dec. 1-14 Dec. 17 Parchuud 5130 of office supplies on credit Dec. 21 Deposited $6.260 from completed moving jobs and S1,500 of storage Revue receipts Dec. 24 Paid S60 Sor repairs to truck for damages sustained in an accident Dec. 28 Paid wages of $2.50 for the period Dec. 15-2R. Dec. 30 Paid 5000 to a magazine for advertisements that appeared in December Dec. 30 George Sanders (owner) withdrew 51.600 cash for persotulu. Dec. 31 Deposited 54,700 from completed moving jobs and S500 of storage Revue receipts 2. Pet the above December action into the General Ledger accounts 3. Prepare and trial balance 4. Jamalize the Sollowing adjusting entrice Unpaid wages were 5610 u of December 31 The December 31 office supplies in very was SINO The moving applies inventory was 54,530 December 31 d. The expired portion of the prepaid in a $9.475 sx of Dec. 31 Depreciation for the your on the trucks was $50,350 Depreciation for the year on the building was 57,400 Uneamed strage revenue balance at Dec 31 was $650 Interest expense on the notes while was $24,700 5. Pat the adjusting entries 6. Prepare an adjusted trial balance 7. Prepare an income statement 8. Prepare a statement of owner's equity 9. Prepare a balance sheet 10. Jumalize the closing entries 11. Put the closing entries 12. Prepare a post-closing trial balance CHECK FIGURES: Unadused trial balance Adjusted trial balance Net Income 798,935 8R1,995 30.050 Paramount Moving and Storage General Journal Post Dats Ibit Credit Account Thies and Explanation December Journal Entries Paramount Moving and Storage GENERAL LEDGER 101 Cash Date Nov. 30 BALANCE Explanation PR Debit Credit Credit Debit 51,610 124 Office Supplies Date Nov. 30 BALANCE Explanation PR Debit Credit Debit Credit 450 126 Moving Supplies Date Nov. 30 BALANCE Explanation PR Debit Credit Credit Debit 8,700 Prepaid Insurance Date Nov. 30 BALANCE 126 Credit Explanation PR Debit Credit Debit 7,475 153 Trucks Date Nov. 30 BALANCE Explanation PR Debit Credit Debit Credit 350,000 Accumulated Depreciation - Trucks Datel Explanation Nov. 30 BALANCE PR Debit Credit Debit 154 Credit 200,000 173 Building Date Explanation PR Debit Credit Debit Credit Nov. 30 BALANCE 185,000 174 Accumulated Depreciation - Building Date Explanation Nov. 30 BALANCE PR Debit Credit Debit Credit 29,120 201 Accounts Payable Date Nov. 30 BALANCE Explanation PR Debit Credit Debit Credit 2,350 Interest Payable Date 203 Credit Explanation PR Debit Credit Debit Nov. 30 BALANCE 0 210 Wages Payable Datel Explanation PR Debit Credit Debit Credit Nov. 30 BALANCE 0 Unearned Storage Revenue Date Nov. 30 BALANCE Explanation PR Debit Credit Debit 233 Credit 700 251 Long-Term Notes Payable Date Nov. 30 BALANCE Explanation PR Debit Credit Debit Credit 245,000 301 George Sanders, Capital Date Nov. 30 BALANCE Explanation PR Debit Credit Debit Credit 42,205 George Sanders, Withdrawal Date 302 Credit Explanation PR Debit Credit Debit Nov. 30 BALANCE 26,500 401 Moving Revenue Date Nov. 30 I BALANCE Explanation PR Debit Credit Debit Credit 179,600 402 Storage Revenue Datel Explanation PR Debit Credit Debit Credit 26,750 Nov. 30 BALANCE 506 Depreciation Expense - Building Date Explanation Nov. 30 BALANCE PR Debit Credit Debit Credit 0 Depreciation Expense - Trucks Date Nov. 30 BALANCE 506 Credit Explanation PR Debit Credit Debit 0 Wages Expense Date Nov. 30 BALANCE 506 Credit Explanation PR Debit Credit Debit 41,700 533 Interest Expense Date Nov. 30 BALANCE Explanation PR Debit Credit Debit Credit 0 537 Insurance Expense Date Nov. 30 BALANCE Explanation PR Debit Credit Debit Credit 0 Office Supplies Expense Datel Nov. 30 BALANCE 550 Credit Explanation PR Debit Credit Debit 0 552 Moving Supplies Expense Date Nov. 30 BALANCE Explanation PR Debit Credit Debit Credit 0 Advertising Expense Date Nov. 30 BALANCE 555 Credit Explanation PR Debit Credit Debit 5,900 Gas, Oil and Repairs Expense Date Nov. 30 BALANCE 569 Credit Explanation PR Debit Credit Debit 31,510 General and Administrative Expenses Datel Explanation Nov. 30 BALANCE 572 Credit PR Debit Credit Debit 16,880 Income Summary 901 Credit Date Explanation PR Debit Credit Debit Paramu Moving and Chad Trillance 31-Dec-1 Paras Movies and Sea Ad und Trane 1 2 Paramount Moving and Storage Income Statement For the year ended December 31, 2019 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 27 28 Paramount Moving and Storage Statement of Owner's Equity For the year ended December 31, 2019 29 30 31 George Sanders, Capital, January 1, 2019 32 33 34 35 36 37 38 39 George Sanders, Capital, December 31, 2015 40 41 42 43 44 45 Paramount Moving and Storage Balance Sheet As of December 31, 2019 47 Assets 49 SO 51 52 53 SS 56 57 59 60 61 62 Total Assets Liabilities 65 66 67 68 69 70 71 72 Total Liabilities 73 74 Owner's Equity 75 76 Total Liabilities and Owner's Equity 77 78 79 80 1 2 3 Paramount Moving and Storage Post Closing Trial Balance 31-Dec-19 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
