ACCT 303 Trakee Boat

acct_303_trakee_boat.xlsx

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Journal Entries

			Truckee Boats Inc.
						GJ
Trans. #	Date		Account Titles and Explanation		Ref.	Debit	Credit
1	OCT	1	Cash		101	$100,000
				Common stock	301		$100,000

T-accounts

101

Cash

(1) $ 100,000

Instructions of Posting Journal Entries to T-accounts 1. Calculate unadjusted ending balances first. 2. Post adjusting entries. Please use different color . 3. Calculate adjusted ending balance. Please use the same color as adjusting journal entries. 4. Post closing entries. Please use different color. 5. Calculate post-closing ending balance. Please use the same color as closing entries.

Unadjusted Trial Balance

Truckee Boats, Inc.
	Unadjusted Trial Balance
For the Month Ended October 31. 2012
Acct. #	Account Description	Debit	Credit

Adjusting Journal Entries

			Truckee Boats Inc.
					GJ
Trans. #	Date		Account Titles and Explanation	Ref.	Debit	Credit
Adj. 1	OCT	31

Adjusted Trial Balance

Truckee Boats, Inc.
Adjusted Trial Balance
For the Month Ended October 31. 2000
Acct. #	Account Description	Debit	Credit

Financial Statements

Note: The Income Statement and Balance Sheet should be formally formatted (e.g., title and dates)

Closing Journal Entries

Truckee Boats Inc.
				GJ
Date	Account Titles and Explanation		Ref.	Debit	Credit
OCT. 1	Cash		101	$100,000
		Common Stock	301		$100,000
	Prepaid Insurance		132	$2,196
		Cash	101		$2,196
	Prepaid Rent		133	$2,400
		Cash	101		$2,400
OCT. 3	Organization Cost Expense		610	$900
		Cash	101		$900
OCT. 5	Store, office, and boat equipment		141	$26,880
		Cash	101		$6,880
		Long-term Notes Payable	210		$20,000
OCT. 6

Post-closing Trial Balance

Truckee Boats, Inc.
Adjusted Trial Balance
For the Month Ended October 31. 2012
Acct. #	Account Description	Debit	Credit