Accounting Problem - Kelly Consulting

profileIlen_G
comprehensive_problem1Ch4Part2.xls
Home>Business & Finance homework help>Management homework help>Accounting Problem - Kelly Consulting

Income Statement Accounts

COMPREHENSIVE PROBLEM 1
- The following ledger accounts appear below, in this order:
Fees Earned, Salary Expense, Rent Expense, Supplies Expense, Depreciation Expense, Insurance Expense,
Miscellaneous Expense
The entries in the ledgers will not grade or mark correct or incorrect.
LEDGERS - Income Statement accounts
Fees Earned 41
Post Balance
Date Item Ref. Dr. Cr. Dr. Cr.
Salary Expense 51
Post Balance
Date Item Ref. Dr. Cr. Dr. Cr.
Rent Expense 52
Post Balance
Date Item Ref. Dr. Cr. Dr. Cr.
Supplies Expense 53
Post Balance
Date Item Ref. Dr. Cr. Dr. Cr.
Depreciation Expense 54
Post Balance
Date Item Ref. Dr. Cr. Dr. Cr.
Insurance Expense 55
Post Balance
Date Item Ref. Dr. Cr. Dr. Cr.
Miscellaneous Expense 59
Post Balance
Date Item Ref. Dr. Cr. Dr. Cr.

Balance Sheet Accounts

COMPREHENSIVE PROBLEM 1
- The following ledger accounts appear below, in this order:
Cash, Accounts Receivable, Supplies, Prepaid Rent, Prepaid Insurance, Office Equipment, Accumulated Depreciation,
Accounts Payable, Salaries Payable, Unearned Fees, Common Stock, Retained Earnings, Dividends
- Beginning balances from the textbook have already been entered.
The entries in the ledgers will not grade or mark correct or incorrect.
LEDGERS - Balance Sheet accounts
Cash 11
Post Balance
Date Item Ref. Dr. Cr. Dr. Cr.
5/1 Balance √ 22,100
Accounts Receivable 12
Post Balance
Date Item Ref. Dr. Cr. Dr. Cr.
5/1 Balance √ 3,400
Supplies 14
Post Balance
Date Item Ref. Dr. Cr. Dr. Cr.
5/1 Balance √ 1,350
Prepaid Rent 15
Post Balance
Date Item Ref. Dr. Cr. Dr. Cr.
5/1 Balance √ 3,200
Prepaid Insurance 16
Post Balance
Date Item Ref. Dr. Cr. Dr. Cr.
5/1 Balance √ 1,500
Office Equipment 18
Post Balance
Date Item Ref. Dr. Cr. Dr. Cr.
5/1 Balance √ 14,500
Accumulated Depreciation 19
Post Balance
Date Item Ref. Dr. Cr. Dr. Cr.
5/1 Balance √ 330
Accounts Payable 21
Post Balance
Date Item Ref. Dr. Cr. Dr. Cr.
5/1 Balance √ 800
Salaries Payable 22
Post Balance
Date Item Ref. Dr. Cr. Dr. Cr.
5/1 Balance √ 120
Unearned Fees 23
Post Balance
Date Item Ref. Dr. Cr. Dr. Cr.
5/1 Balance √ 2,500
Common Stock 31
Post Balance
Date Item Ref. Dr. Cr. Dr. Cr.
5/1 Balance √ 30,000
Retained Earnings 32
Post Balance
Date Item Ref. Dr. Cr. Dr. Cr.
5/1 Balance √ 12,300
Dividends 33
Post Balance
Date Item Ref. Dr. Cr. Dr. Cr.