Professional Documents
Culture Documents
FAR Activity1 - Emana, Monica
FAR Activity1 - Emana, Monica
Page Number:
DATE DESCRIPTION PR DEBIT CREDIT
A. Adriano, Capital 60,000
Accounts Receivable
To record the 60,000 worthless 60,000
adjustment
D. Equipment 75,000
Adriano, Capital 75,000
To record the used equipment
ADRIANO PROPRIETORSHIP
Cash 465,000
Tan, Capital 465,000
To record Tan’s Investment
PROBLEM 3: JOURNAL ENTRIES
Page Number:
DATE DESCRIPTION PR DEBIT CREDIT
Allowance for doubtful accounts 6,000
Espanol, Capital 6,000
To record the adjustment of net
realizable value
Inventory 20,000
Espanol, Capital 20,000
To record the increase and adjust
inventory
Equipment 64,000
Espanol, Capital 64,000
To record and adjust the equipment
FISH
Adjusted Trial Balance
December 31, 2014
OWNER’S EQUITY
Apalisoc, Capital 926,000
Tuddao, Capital 963,000
Total Equity 1,889,000