accounting

Table of Contents

Assumption page…………………………………………………………………………………………………………………………………..00

Beginning Balances & Transactions………………………………………………………………………………………………………..00

Chart of Accounts……………………………………………………………………………………………………………………………….…00

Journal Entries……………………………………………………………………………………………………………………………………….00

Ledger……………………………………………………………………………………………………………………………………………………00

Unadjusted Trial Balance……………………………………………………………………………………………………………………….00

Adjusted Journal Entries………………………………………………………………………………………………………………………..00

Adjusted Trial Balance…………………………………………………………………………………………………………………………..00

Income Statement…………………………………………………………………………………………………………………………………00

Statement of Retained Earnings…………………………………………………………………………………………………………….00

Balance Sheet…………………………………………………………………………………………………………………………………….....00

Cash Flow Statement …………………………………………………………………………………………………………………………….00

Closing Journal Entries…………………………………………………………………………………………………………………………..00

Post-Closing Trial Balance………………………………………………………………………………………………………………………00

Assumption Page

Our Umbrella Corporation began with the cooperation of three entrepreneurial minds, who saw the benefit of combining each other’s skills and knowledge in different markets and merge it all to create the most renovating Corporation of the century.

“It is better to fail in originality than to succeed in imitation.”

Calculations for Accumulated Depreciation

Buildings

Interest on Loan

$15,000

Beginning Balances & Transactions

Beginning Balances:

Cash:

$15,000

Loan:

$15,000 (10% APR)

Common Stock: $10,000

Beg. Retained Earning:

$5,000

Accounting Period September 1, 2017 – December 17, 2017

· Purchased St. James Place for $1,800

· Purchased New York Avenue for $1000

· Purchased Kentucky Avenue for $1800

· Purchased Ventnor Avenue $2200

· Purchased Short line for$1000

· Purchased Pacific Avenue for$1500

Cobra Corp owes us $200 rent for St. James Place

Cobra Corp paid $200 balance

Team Seven paid us $180 rent for Kentucky avenue

Alpha Corp paid us $260 rent for Pacific Avenue

MMBP paid us $220 rent for Ventnor Avenue

Paid $60 to Cobra

Paid $100 to Alpha

Chart of Accounts

Journal Entries

Ledger

Unadjusted Trial Balance

Adjusted Journal Entries

Adjusted Trial Balance

Income Statement

Statement of Retained Earnings

Balance Sheet

Statement of Cash Flow

Closing Journal Entries

Post-Closing Trial Balance