FA Assignment by Vivek Patodia(Roll 309)

Exercise 14 Debit ($) Credit ($) (in $) (in $)

a. Cash Dr 1,00,750 Cash A/c
Common Stock Cr 1,00,750 Common Stock (a) 1,00,750 Office Supplies (b) 1,250
Fee Earned (d) 15,000 Accounts Payable ('e) 10,050
b. Office Supplies Dr 1,250 Accounts Receivable (h) 1,125 Rent Expense (g) 1,225
Cash Cr 1,250 Dividends (i) 10,000
Balance 94,350
c. Office Equipment Dr 10,050 Total 1,16,875 Total 1,16,875
Accounts Payable Cr 10,050
Accounts Receivable A/c
d. Cash Dr 15,000 Fee Earned (f) 2,700 Cash (h) 1,125
Fee Earned Cr 15,000 Balance 1,575
Total 2,700 Total 2,700
e. Accounts Payable Dr 10,050
Cash Cr 10,050 Office Supplies A/c
Cash (b) 1,250
f. Accounts Receivable Dr 2,700 Balance 1,250
Fee Earned Cr 2,700 Total 1,250 Total 1,250

g. Rent Expense Dr 1,225 Office Equipment A/c

Cash Cr 1,225 Accounts Payable ('c) 10,050
Balance 10,050
h. Cash Dr 1,125 Total 10,050 Total 10,050
Accounts Receivable Cr 1,125
Accounts Payable A/c
i. Dividends Dr 10,000 Cash ('e) 10,050 Office Equiment ('c) 10,050
Cash Cr 10,000 Balance -
Total 10,050 Total 10,050

Common Stock A/c

Ending Balances: Cash (a) 1,00,750
Account Amount(in $) Balance 1,00,750
Cash 94,350 Asset Total 1,00,750 Total 1,00,750
Accounts Receivable 1,575 Asset
Office Supplies 1,250 Asset Fee Earned A/c
Office Equipment 10,050 Asset Cash (d) 15,000
1,07,225 Balance 17,700 Accounts Receivable (f) 2,700
Common Stock 1,00,750 Equity Total 17,700 Total 17,700
Accounts Payable - Liability
Fee Earned 17,700 RE Rent Expense A/c
Rent Expense -1,225 RE Cash (g) 1,225
Dividend -10,000 RE Balance 1,225
1,07,225 Total 1,225 Total 1,225

Dividend A/c
Cash (i) 10,000
Balance 10,000
Total 10,000 Total 10,000