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  • Accounting Principles 1

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    Putri Ananda Less
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    The document summarizes the general journal entries for the Bristol Pirates for May 1990. It records various transactions including player contracts, cash receipts, expenses, and withdrawals. The net income for the month was $82,240. The balance sheet as of May 31, 1990 lists total assets of $2,163,550 including cash, receivables, and equipment. Total liabilities were $1,055,060 including notes payable and a mortgage. Owner's equity was $1,108,490.

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    salam debit kredit bro, perbanyaklah memahami file saya in shaa allah anda akan cerdas

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    The document summarizes the general journal entries for the Bristol Pirates for May 1990. It records various transactions including player contracts, cash receipts, expenses, and withdrawals. The net income for the month was $82,240. The balance sheet as of May 31, 1990 lists total assets of $2,163,550 including cash, receivables, and equipment. Total liabilities were $1,055,060 including notes payable and a mortgage. Owner's equity was $1,108,490.

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    © All Rights Reserved
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    16 views16 pages

    Accounting Principles 1

    Uploaded by

    Putri Ananda Less
    The document summarizes the general journal entries for the Bristol Pirates for May 1990. It records various transactions including player contracts, cash receipts, expenses, and withdrawals. The net income for the month was $82,240. The balance sheet as of May 31, 1990 lists total assets of $2,163,550 including cash, receivables, and equipment. Total liabilities were $1,055,060 including notes payable and a mortgage. Owner's equity was $1,108,490.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
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    of 16

    BRISTOL PIRATES

    GENERAL JOURNAL
    Date
    1990
    May

    Account Titles and Explanation


    1 PLAYER CONTRACTS
    CASH
    NOTE PAYABLE
    2 CASH
    ACCOUNTS RECEIVABLE
    3 ACCOUNTS PAYABLE
    CASH
    4 ADVERTISING EXPENSE
    CASH
    5 UNIFORM SUPPLIES ON HAND
    ACCOUNTS PAYABLE
    9 ACCOUNTS RECEIVABLE
    GAME ATTENDACE FEES EARNED
    10 NOTE PAYABLE
    CASH
    11 PREPAID INSURNCE
    CASH
    12 TRAINING EQUIPMENT
    ACCOUNTS PAYABLE
    15 PLAYER SALARIES
    CASH
    17 CASH
    GAMES ATTENDANCE FEES EARNED
    19 TRAVEL EXPENSES
    CASH
    20 LAUNDRY EXPENSES
    CASH
    23 ACCOUNTS PAYABLE

    Post. Ref.

    CASH
    25 MISCELLANEOUS EXPENSES
    CASH
    26 MEDICAL EXPENSES
    CASH
    27 UTILITIES EXPENSES
    CASH
    28 PLAYER SALARIES
    CASH
    30 LUCY DOOGER, WITHDRAWALS
    CASH
    Totals

    Debit
    $

    Credit

    125,000
    $
    $

    15,000
    110,000

    187,300

    110,500

    5,240

    2,050

    21,350

    40,000

    14,350

    21,300

    75,750

    221,070

    37,200

    840

    187,300

    110,500

    5,240

    2,050

    21,350

    40,000

    14,350

    21,300

    75,750

    221,070

    37,200

    840

    62,790

    62,790

    1,790

    1,260

    4,030

    82,710

    25,000

    1,039,530

    1,790

    1,260

    4,030

    82,710

    25,000

    1,039,530

    BRISTOL PIRATES
    GENERAL LEDGER
    CASH
    Date
    1990
    May

    Explanation
    31 BALANCE
    1
    2
    3
    4
    10
    11
    15
    17
    19
    20
    23
    25
    26
    27
    28

    GJ1
    GJ1
    GJ1
    GJ1
    GJ1
    GJ1
    GJ1
    GJ1
    GJ1
    GJ1
    GJ1
    GJ1
    GJ1
    GJ1
    GJ1

    30

    GJ1

    ACCOUNTS RECEIVABLE
    Date
    Explanation
    1990
    31 Balance
    May
    2
    9

    Debit
    $

    75,320

    187,300

    221,070

    Debit
    247,500

    21,350

    Debit
    2,070

    2,050

    Post. Ref.
    GJ1
    GJ1

    UNIFORM SUPPLIES ON HAND


    Date
    Explanation
    1990
    31 Balance
    May

    Post. Ref.

    Post. Ref.
    GJ1

    PREPAID INSURANCE
    Date
    1990
    May

    Explanation
    31 Balance
    11

    Post. Ref.
    GJ1

    Debit
    $

    14,350

    Debit
    135,000

    LAND
    Date
    1990

    Explanation
    31 Balance
    SPORTS COMPLEX

    Post. Ref.

    Date
    1990

    Explanation
    31 Balance

    Post. Ref.
    $

    Debit
    850,000

    Debit
    175,000

    21,300

    Debit
    750,000

    125,000

    TRANNING EQUIPMENT
    Date
    1990
    May

    Explanation
    31 Balance
    12

    PLAYER CONTRACTS
    Date
    Explanation
    1990
    31 Balance
    May
    1

    Date
    1990
    May

    NOTE PAYABLE
    Explanation
    31 Balance
    1
    10

    ACCOUNTS PAYABLE
    Date
    Explanation
    1990
    30 Balance
    May
    3
    5
    12
    23

    Post. Ref.
    GJ1

    Post. Ref.
    GJ1

    Post. Ref.

    Debit

    GJ1
    GJ1

    Post. Ref.

    40,000

    Debit

    GJ1
    GJ1
    GJ1

    110,500

    GJ1

    62,790

    Debit
    700,000

    MORTAGEGE PAYABLE
    Date
    1990

    Explanation
    30 Balance

    LUCY DOGGER, CAPITAL


    Date
    Explanation
    1990
    30 Balance
    LUCY DOGGER, WITHDRAWALS
    Date
    Explanation
    1990
    30 Balance
    May
    30
    GAME ATTENDANCE FEES EARNED
    Date
    Explanation
    1990
    30 Balance
    May
    9

    Post. Ref.

    Post. Ref.

    Debit

    Post. Ref.
    $

    Debit
    125,000

    25,000

    GJ1

    Post. Ref.
    GJ1

    Debit

    17
    PLAYER SALARIES
    Date
    Explanation
    1990
    30 Balance
    May
    15
    28
    ADVERTISING EXPENSE
    Date
    Explanation
    1990
    30 Balance
    May

    TRAVEL EXPENSE
    Date
    Explanation
    1990
    30 Balance
    May

    19

    LAUNDRY EXPENSE
    Date
    Explanation
    1990
    30 Balance
    May

    20

    MEDICAL EXPENSE
    Date
    Explanation
    1990
    30 Balance
    May

    26

    UTILITIES EXPENSE
    Date
    Explanation
    1990
    30 Balance
    May

    27

    MISCELLANEOUS EXPENSE
    Date
    Explanation
    1990
    30 Balance
    May

    25

    GJ1

    Post. Ref.
    GJ1

    $
    $

    Debit
    325,000
    75,750

    GJ1

    82,710

    Debit
    26,730

    5,240

    Debit
    102,160

    37,200

    Debit
    35,200

    840

    Debit
    12,970

    1,260

    Debit
    115,600

    4,030

    Debit
    8,700

    1,790

    Post. Ref.
    GJ1

    Post. Ref.
    GJ1

    Post. Ref.
    GJ1

    Post. Ref.
    GJ1

    Post. Ref.
    GJ1

    Post. Ref.
    GJ1

    PIRATES
    L LEDGER
    Account No. 110
    Credit

    Balance

    15,000

    $
    $
    $
    $
    $

    110,500
    5,240
    40,000
    14,350
    75,750

    $
    $
    $
    $
    $
    $
    $

    37,200
    840
    62,790
    1,790
    1,260
    4,030
    82,710

    $
    $
    $
    $
    $
    $
    $
    $
    $
    $
    $
    $
    $
    $
    $

    25,000

    Credit
    $

    187,300

    Credit

    ###
    60,320
    247,620
    137,120
    131,880
    91,880
    77,530
    1,780
    222,850
    185,650
    184,810
    122,020
    120,230
    118,970
    114,940
    32,230
    7,230

    Account No. 120


    Balance
    $

    ###
    60,200

    81,550

    Acoount No. 130


    Balance
    ###
    $

    4,120

    Account No. 140


    Balance

    Credit

    14,350

    Account No. 150


    Balance

    Credit
    $

    135,000

    Account No.160

    Balance

    Credit
    $

    850,000

    Account No.170
    Balance

    Credit

    ###
    $

    Credit

    Account No.180
    Balance
    ###
    $

    $
    $

    $
    $

    Credit

    Credit
    1,176,250

    Credit

    165,060

    Account No.230
    Balance
    $

    700,000

    Account No.310
    Balance
    $

    1,176,250

    Account No.320
    Balance
    $
    125,000
    $

    $
    $

    190,000

    Account No.220
    Balance
    Credit
    315,000 $
    315,000
    $
    204,500
    2,050 $
    206,550
    21,300 $
    227,850
    $

    875,000

    Account No.210
    Balance
    Credit
    120,000 $
    120,000
    110,000 $
    230,000
    $

    196,300

    150,000

    Account No.410
    Balance
    Credit
    675,000 $
    675,000
    21,350 $
    696,350

    221,070

    Credit

    Account No.510
    Balance
    $
    325,000
    $
    400,750
    $

    Credit

    917,420

    483,460

    Account No.520
    Balance
    ###
    $

    Credit

    31,970

    Account No.530
    Balance
    ###
    $

    Credit

    139,360

    Account No.540
    Balance
    ###
    $

    Credit

    36,040

    Account No.550
    Balance
    ###
    $

    Credit

    14,230

    Account No.560
    Balance
    ###
    $

    Credit

    119,630

    Account No.570
    Balance
    ###
    $

    10,490

    BRISTOL PIRATES
    Trial Balance
    May 30, 1990
    ACC. NUMBER
    110
    120
    130
    140
    150
    160
    170
    180
    210
    220
    230
    310
    320
    410
    510
    520
    530
    540
    550
    560
    570

    ACCOUNT
    CASH
    ACCOUNTS RECEIVABLE
    UNIFORM SUPPLIES ON HAND
    PREPAID INSURANCE
    LAND
    SPORTS COMPLEX
    TRANNING EQUIPMENT
    PLAYER CONTRACTS
    NOTE PAYABLE
    ACCOUNTS PAYABLE
    MORTAGE PAYABLE
    LUCY DOGGER, CAPITAL
    LUCY DOGGER, WITHDRAWALS
    GAME ATTENDANCE FEES EARNED
    PLAYER SALARIES
    ADVERTISING EXPENSE
    TRAVEL EXPENSE
    LAUNDRY EXPENSE
    MEDICAL EXPENSE
    UTILITIES EXPENSE
    MISCELLANEOUS EXPENSE
    Totals

    DEBIT
    $
    $
    $
    $
    $
    $
    $
    $

    7,230
    81,550
    4,120
    14,350
    135,000
    850,000
    196,300
    875,000

    150,000

    $
    $
    $
    $
    $
    $
    $

    483,460
    31,970
    139,360
    36,040
    14,230
    119,630
    10,490

    3,148,730

    CREDIT

    $
    $
    $
    $

    190,000
    165,060
    700,000
    1,176,250

    917,420

    3,148,730

    BRISTOL PIRATES

    Income Statement
    Months Ended May, 31 1990
    Revenue
    Game Attendace Fees Earned
    TOTAL REVENUE
    Expense
    Advertising Expense
    Travel Expense
    Laundry Expense
    Medical Expense
    Utilities Expense
    Player salaries
    Miscellaneous Expense
    Total Expense

    917,420

    $
    $
    $
    $
    $
    $
    $

    31,970
    139,360
    36,040
    14,230
    119,630
    483,460
    10,490

    NET INCOME
    BRISTOL PIRATES
    Owner's Equity
    Months Ended May, 31 1990
    Lucy Dogger, Capital july. 1
    $
    Net Income
    $
    TOTAL
    Lucy Dogger, Wi $

    1,176,250
    82,240
    (150,000)

    Smollett Ships, Capital july. 31

    BRISTOL PIRATES
    Balance Sheet
    May, 31 1990
    Assets
    Assets
    Cash
    Acc. Receivable
    Supplies on hand
    Prepaid Insurance
    Land
    Sport Complex
    Training Equiptment
    Player Contracts

    Liabilities and Owner's Equity


    $
    $
    $
    $
    $
    $
    $
    $

    7,230
    81,550
    4,120
    14,350
    135,000
    850,000
    196,300
    875,000

    Liabilities
    Notes Payable
    Accounts Payable
    Mortagage Payable
    Total Liabilities
    Owner's Equity :
    Smollet, Capital
    Total Liabilites and

    Total Asset

    2,163,550 Owner's Equity :

    917,420

    835,180
    $

    82,240

    1,258,490

    1,108,490

    Liabilities and Owner's Equity

    ble
    yable

    $
    $
    $

    190,000
    165,060
    700,000

    otal Liabilities

    1,055,060

    1,108,490

    2,163,550

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