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    CFAS QUIZ

    Uploaded by

    annediones182005

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd

    CFAS QUIZ

    Uploaded by

    annediones182005
    1 views2 pages

    Copyright

    © © All Rights Reserved

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    XLSX, PDF, TXT or read online from Scribd

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    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    1 views2 pages

    CFAS QUIZ

    Uploaded by

    annediones182005

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    of 2

    Unadjusted Trial balance Adjustments Adjusted Trial Balance

    Accounts Debit Credit Debit Credit Debit Credit


    Cash 650,000 650,000
    Accounts Receivable 34,000 34,000
    Prepaid Insurance 5,000 5,000
    Office Supplies 9,000 9,000
    Computer Equipment 1,550,000 1,550,000
    Accumulated Depreciation 240,000 126,250 366,250
    Notes Payable 1,000,000 1,000,000
    Utilities Payable 7,500 7,500
    Interest Payable 10,000 10,000
    Owner's Equity 1,314,000 1,314,000
    Owner's Drawing 3,300,000 3,300,000
    Service Fees 5,595,000 34,000 5,629,000
    Salaries Expense 1,155,000 1,155,000
    Rent Expense 1,200,000 1,200,000
    Utilities Expense 180,000 7,500 187,500
    Office Supplies Expense 104,000 9,000 95,000
    Depreciation Expense 126,250 126,250
    Insurance Expense 5,000 5,000
    Interest Expense 10,000 10,000
    Totals 8,149,000 8,149,000 186,750 186,750 8,326,750 8,326,750
    Net Income
    Totals
    Income Statement Balance Sheet Closing Entries Post-Closing Entries
    Debit Credit Debit Credit Debit Credit Debit Credit
    650,000 650,000
    34,000 34,000
    5,000 5,000
    9,000 9,000
    1,550,000 1,550,000
    366,250 366,250
    1,000,000 1,000,000
    7,500 7,500
    10,000 10,000
    1,314,000 3,300,000 2,910,250 864,250
    3,300,000 3,300,000
    5,629,000 5,689,000
    1,155,000 1,155,000
    1,200,000 1,200,000
    187,500 187,500
    95,000 95,000
    126,250 126,250
    5,000 5,000
    10,000 10,000
    2,778,750 5,629,000 5,548,000 2,697,750 8,989,000 8,989,000 2,248,000 2,248,000
    2,850,250 2,850,250
    5,629,000 5,548,000

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