ACCT100 - J.Miller Design Studio Ch4 Comprehensive Problem

Chart of Accounts

Cash	111
Accounts Receivable	113
Office Supplies	115
Prepaid Rent	117
Office Equipment	145
Accumulated Depreciation - Office Equipment	146
Accounts Payable	212
Unearned Design Revenue	213
Wages Payable	214
J. Miller, Capital	311
J. Miller, Withdrawals	312
Income Summary	313
Design Revenue	411
Wages Expense	511
Utilities Expense	512
Rent Expense	514
Office Supplies Expense	517
Depreciation Expense - Office Equipment	519

Cash investment by J. Miller

For design services performed for Rave Department Stores

Paid amount due for utility bill received and recorded in July

Paid assistant four weeks' wages

Paid for office equipment purchased in July

Paid September rent in advance

Paid utilities bill for August

Purchased office equipment

Purchased office supplies

Received advance fee for design services

Received cash payment for design services

Received payment for design services performed last month

To accrue unrecorded wages

To close the expense accounts into the income summary account

To close the income summary account

To close the revenue account into the income summary account

To close the withdrawals account

To recognize expiration of one month's rent

To recognize office supplies used during the month

To recognize performance of services paid for in advance

To record depreciation of equipment for the month

To record revenue earned, but not billed until September

To reverse the adjusting entry for accrued design revenue earned

To reverse the adjusting entry for accrued wages

Withdrawal of cash by J. Miller

ACCT100 - J.Miller Design Studio Ch4 Comprehensive Problem Solution

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