ACC 300 Portfolio Project

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Kelly consulting

Kelly Consulting
Post-closing Trial Balance
30-Apr-08
Account Title Debit Credit
Cash 22,100
Accounts Receivables 3400
Supplies 1350
Prepaid Rent 3200
prepaid insurance 1500
Office Equipment 14500
Accumulated Depreciation 330
Accounts payable 800
salary payable 120
Kelly Capital 44800
$46,050 $46,050.00
Kelly Consulting
General Journal
May, 2008
1-May
2-May
3-May
4-May
5-May
6-May
7-May
8-May
9-May
10-May
11-May
12-May
Accounts Receivable Supplies
#2 Post to "T" accounts below 3400 1350
Cash
22,100
Prepaid Insurance Office Equipment
1500 14,500
Prepaid Rent
3200
Accounts Payable Salaries Payable
800 120
Accumulated Depreciation
330
Capital Fees earned
44,800
Unearned Fees
Salary Expense Electric Expense
Advertising Expense

q2 adjsting entries Woods

Journalize the following adjusting entries for Woods corporation as of December 31, 2014 (Assume that adjustments are made on a monthly basis)
Woods Inc.
Unadjusted Trial Balance
December 31, 2014
Account Debit Credit
Cash 18,570
Accounts Receivable 11,900
Supplies 1,820
Prepaid rent 750
Equipment 12,000
Accumulated depreciation 1100
Accounts Payable 1050
Unearned Fees 2800
Capital Stock 10000
Retained earnings 27800
Dividends 1,400
Fees earned 51450
Wages Expense 28210 q
Rent expense 2,250
Utilities expense 16040
Miscellaneous Expenses 1260
Total 94,200 94,200
A) The equipment was purchased on January 1 of this year with an expected life of 10 years. There is no salvage value. Use the straight line method
B) The amount of supplies on hand as of December 31 is $1000.00
C) Fees earned and unbilled $ 1,200
D) Additional fees earned ( collected in prior periods) $ 800.00
E)Wages incurred and not paid $ 700
F) Rent was prepaid on February 1 of this year for one year
Account Title Debit Credit
A
B
C
D
E
F

Q 3 M & D

M&D Inc
Adjusted Trial Balance 12/31/14
Income Statement Balance Sheet
Account Debit Credit Debit Credit Debit Credit
Cash 15200
Accounts Receivable 200
Supplies 1000
Prepaid insurance 550
Equipment 5000
Accumulated depreciation 40
Notes Payable 5000
Accounts Payable 2500
Unearned Service revenue 800
Salaries & wages payable 1200
Interest payable 50
Owner's capital 10000
Owner's drawing 500
Service revenue 10600
Salaries & wages expense 5200
Supplies expenses 1500
Rent expense 900
Insurance expense 50
Interest expense 50
Depreciation expense 40
$30, 190 $30, 190
Complete the income statement and balance sheets columns of the worksheet.

Harvest Financial statements

Use the following information to complete the income statement and the balance sheet
Harvest incorporated Harvest incorporated Harvest Incorporated
Adjusted Trial Balance Balance Sheet Income Statement
31-Dec-14 As of December 31, 2014 For the year ended December 31, 2014
Assets Revenues
Account Debit Credit $
Cash $6,700 Current Assets Expenses
Accounts Receivable 600 $ $
Supplies 1,000
Prepaid rent 900
Equipment 15,000
Accumulated depreciation 850
Notes Payable 5,000
Accounts Payable 1,510
Unearned rent revenue 500 Total current assets
Salaries & wages payable 400 Total expenses $
Interest payable 50 Property, plant and equipment Net income (loss) $
Owner's capital 14,000 $
Owner's drawing 600
Service revenue 14,200
Salaries & wages expense 9,400
Supplies expenses 200 Total assets $
Rent expense 1,500
Utilities expense 510
Interest expense 50
Depreciation expense 850
Rent revenue 800
$37,310 $37,310 Liabilities and Owner's Equity
Current liabilities
$
Total current liabilities
Owner's equity
$
Total liabilities and owner's equity $

EZ inc

Using the information provided below to prepare closing entries at Dec 31 of 2014 and then prepare the post-closing trial balance
EZ Inc Closing entries
Income Statement EZ Inc
For the year ended December 31, 2014 Date Account Debit Credit Post-Closing Trial Balance
Revenues 12/31/14 December 31, 2014
Service revenue $19,000
Expenses
Supplies expense $500 12/31/14
Salaries expense 4,000
Rent expense 1,500 Account Title Debit Credit
Cash
Total expenses $6,000 Accounts receivable
Net income 13,000 Supplies
Prepaid insurance
EZ Inc Equipment
Balance Sheet Accumulated depreciation
As of December 31, 2014 12/31/14 Notes payable
Accounts payable
Assets Interest payable
Salaries payable
Current Assets Owner's capital
Cash $2,000 Service revenue
Accounts receivable 1,300 Supplies expense
Supplies 600 Salaries expense
Prepaid insurance 500 Rent expense
Total current assets 4,400
Property, plant and equipment
Equipment $5,000
Less: Accumulated depreciation-Equipment 500 4,500
Total assets 8,900
Liabilities and Owner's Equity
Liabilities
Notes payable $5,000
Accounts payable 700
Interest payable 100
Salaries payable 1,300
Total liabilities 7,100
Owner's equity
Owner's capital 1,800
Total liabilities and owner's equity $8,900