[excel]Accounting for Liabilities, Equity and Expense

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Home>Business & Finance homework help>Accounting homework help>[excel]Accounting for Liabilities, Equity and Expense

journal

Ledger

General Ledger
Balance
Account Title Debit Credit Debit Credit
Cash
Begin 215,500
#4-6
#4-7
#5-7
215,500
Inventory
0
Accounts Payable
0
Dividend Payable
0
Long Term Debt
0
Common Stock
0
Additional Paid in Capital
0
Dividend
0
Dividend Distributable
0
Interest Expense
0

TB

Adjusted Trial Balance, September 30th, 2012
Account Title Debit Credit
Cash
Accounts Receivable
Inventory
Equipment
Accumulated Depreciation
Accounts Payable
Dividend Payable
Long Term Debt
Common Stock
Additional Paid in Capital
Dividend
Sales Revenue
Sales Discount
COGS
Bad Debt Expense
Interest Expense
Depreciation Expense
Total 0 0

IS

BS

Principal and Interest Calc

Principal and Interest Calculation
Month Payment Principal Interest Balance Annual Interest Rate Number of Days in Month Effective Monthly Rate
April 300,000.0 7.0%
May 3,500 1,716 $1,784 298,283.6 31 0.00595
June 3,500 1,784 $1,716 296,499.7 30 0.00575
July 3,500 1,737 $1,763 294,762.5 31 0.00595
August 3,500 1,748 $1,752 293,014.9 31 0.00595
September 3,500 1,814 $1,686 291,200.7 30 0.00575

Figure 1

Raw Materials purchased from Suppliers on Account
Date Purchased Purchased Amount Date Paid
June 1st $ 150,000 June 9th
July 1st $ 185,000 July 8th
August 1st $ 140,000 September 1st
September 1st $ 200,000 September 9th