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What are the general ledger entries for the following information. The ledger entry format is below the first part for everything that's needed. also, the
What are the general ledger entries for the following information. The ledger entry format is below the first part for everything that's needed. also, the check figures are Net Income = $4163, the Ending Cash Balance = $14430, and the ending total assets = $39090.
Pat's Painting | |||||||
Trial Balance (beginning balances) | |||||||
February 1, 20xx | |||||||
Account | Debit | Credit | |||||
101 | Cash | $4,850.00 | |||||
102 | Accounts Receivable | $10,000.00 | |||||
103 | Prepaid Insurance | $900.00 | |||||
104 | Supplies | $600.00 | |||||
120 | Equipment | $15,240.00 | |||||
121 | Accumulated Depreciation | $2,940.00 | |||||
201 | Accounts Payable | $3,840.00 | |||||
204 | Notes Payable | $- | |||||
205 | Interest Payable | $- | |||||
290 | Unearned Revenue | $- | |||||
300 | Pat, Capital | $24,810.00 | |||||
301 | Pat, Drawing | $- | |||||
400 | Painting Revenue | $- | |||||
501 | Supplies Expense | $- | |||||
502 | Wage Expense | $- | |||||
503 | Depreciation Expense | $- | |||||
504 | Insurance Expense | $- | |||||
505 | Interest Expense | $- | |||||
Totals | $31,590.00 | $31,590.00 | |||||
Transactions for February, 20xx: | |||||||
1-Feb | Borrowed $4,500 from Star Bank by signing a three month, 12% annual interest note. | ||||||
1-Feb | Paid Wooster Brush $360 for a ladder with a three year expected life. | ||||||
3-Feb | Received $2,500 from Bob Tull for a job completed and billed in January. | ||||||
7-Feb | Received $2,000 from Ann Smith for a job completed and billed in January. | ||||||
14-Feb | Purchased $1,322 in paint and other supplies on credit from Sherwin Williams. | ||||||
14-Feb | Paid Sherwin Williams $3,840 for purchases made on account in January. | ||||||
17-Feb | Completed painting the Wes Morris house and billed him $5,500. | ||||||
21-Feb | Pat contributed an additional $5,000 cash into the business. | ||||||
21-Feb | Received $4,500 from Al Jones in payment of the amount he owed. | ||||||
22-Feb | Contracted to paint Beth Miller's house and received a down payment of $1,000. | ||||||
28-Feb | Completed painting Jerry Hale's house and billed him $3,500. | ||||||
28-Feb | Bought $1,250 paint and other supplies on credit from Sherwin Williams. | ||||||
28-Feb | Paid Wooster Brush $720 for scaffolding with a three year expected life. | ||||||
28-Feb | Paid Walter Walters his monthly salary of $2,000 (do not worry about payroll taxes). | ||||||
28-Feb | Pat withdrew $3,000 for her personal use. | ||||||
Adjusting Entries: | |||||||
28-Feb | $100 of the insurance was consumed during the month of February. | ||||||
28-Feb | $45 in interest accrued on the note payable, and will not be paid until maturity date. | ||||||
28-Feb | $2472 of the supplies had been consumed. | ||||||
28-Feb | $220 was the depreciation on the equipment. | ||||||
Ledger Format, thanks!
CASH | Debit | Credit | |||
Date | P Ref | Debit | Credit | Balance | Balance |
Beginning Balance | |||||
ACCOUNTS RECEIVABLE | Debit | Credit | |||
Date | P Ref | Debit | Credit | Balance | Balance |
Beginning Balance | |||||
PREPAID INSURANCE | Debit | Credit | |||
Date | P Ref | Debit | Credit | Balance | Balance |
Beginning Balance | |||||
SUPPLIES | Debit | Credit | |||
Date | P Ref | Debit | Credit | Balance | Balance |
Beginning Balance | |||||
EQUIPMENT | Debit | Credit | |||
Date | P Ref | Debit | Credit | Balance | Balance |
Beginning Balance | |||||
ACCUMULATED DEPRECIATION | Debit | Credit | |||
Date | P Ref | Debit | Credit | Balance | Balance |
Beginning Balance | |||||
ACCOUNTS PAYABLE | Debit | Credit | |||
Date | P Ref | Debit | Credit | Balance | Balance |
Beginning Balance | |||||
NOTES PAYABLE | Debit | Credit | |||
Date | P Ref | Debit | Credit | Balance | Balance |
Beginning Balance | |||||
INTEREST PAYABLE | Debit | Credit | |||
Date | P Ref | Debit | Credit | Balance | Balance |
Beginning Balance | |||||
UNEARNED REVENUE | Debit | Credit | |||
Date | P Ref | Debit | Credit | Balance | Balance |
Beginning Balance | |||||
PAT, CAPITAL | Debit | Credit | |||
Date | P Ref | Debit | Credit | Balance | Balance |
Beginning Balance | |||||
PAT, DRAWING | Debit | Credit | |||
Date | P Ref | Debit | Credit | Balance | Balance |
Beginning Balance | |||||
PAINTING REVENUE | Debit | Credit | |||
Date | P Ref | Debit | Credit | Balance | Balance |
Beginning Balance | |||||
SUPPLIES EXPENSE | Debit | Credit | |||
Date | P Ref | Debit | Credit | Balance | Balance |
Beginning Balance | |||||
WAGE EXPENSE | Debit | Credit | |||
Date | P Ref | Debit | Credit | Balance | Balance |
Beginning Balance | |||||
DEPRECIATION EXPENSE | Debit | Credit | |||
Date | P Ref | Debit | Credit | Balance | Balance |
Beginning Balance | |||||
INSURANCE EXPENSE | Debit | Credit | |||
Date | P Ref | Debit | Credit | Balance | Balance |
Beginning Balance | |||||
INTEREST EXPENSE | Debit | Credit | |||
Date | P Ref | Debit | Credit | Balance | Balance |
Beginning Balance | |||||
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