SUPRI

SE TEST
P3-1A (MASASI COMPANY)
Submitted to 
Md. Nizam Hossain
Lecturer of 
Southeast university 
 

Submitted by 
Md Shahajalal Rafin 
Id:2021110000012 
Batch:58 
 

Course title
Intermediate English Skills
Course code: ENG102
BBA
Section:1 

Date of submission 
Date:11.12.2021
 MASASI COMPANY
ADJUSTMENT ENTRIES
June 30, 2010

DATE DESCRIPTION  REF  DEBIT($) CREDIT($)

2020 Supplies Expense……… DR. 631  1,400 
June 30
     Supplies ……………..CR. 126 1,400 

Utilities Expense …………DR. 732 150 

     Utilities Payable ………CR. 244 150 

Insurance Expense……….DR. 722 250 

     Prepaid Insurance…….CR. 130 250 

Unearned Service Revenue…DR.  209 2,500 

      Service Revenue…………CR. 400 2,500 

Salaries Expense……….DR. 726 2,000

       Salaries Payable……CR. 212 2,000

Depreciation Expense………DR. 711 250 

    Acc.Depr.Office Equipment.CR. 158 250 

Account Receivable……….DR. 112 1,000

        Service Revenue ……CR. 400 1,000

7,550 7,550
 MASASI COMPANY
ADJUSTMENT TRIAL BALANCE
for the Month Ended June 30, 2010
ACC. NO. ACCOUNT NAME DEBIT CREDIT
$ $

101 Cash 7,150

112 Account Receivable 7,000

126 Supplies 600

130 Prepaid Insurance 2,750

157 Office Equipment 15,000

158 Acc. Depr. Office Equipment 250

201 Account Payable 4,500
209 Unearned Service Revenue 1,500
212 Salaries Payable 2,000

244 Utilities Payable 150

301 T. Masasi, Capital 21,750
400 Service Revenue 11,400
631 Supplies Expense 1,400
711 Depreciation Expense 250

722 Insurance Expense 250

726 Salaries Expense 6,000

729 Rent Expense 1,000

732 Utilities Expense 150

TOTAL 41,550 41,550

 MASASI COMPANY
INCOME STATEMENT
for the Month Ended June 30, 2010
Account $ $

Service Revenue 11,400

(–) Expenses

Salaries Expense 6,000

Rent Expense 1,000

Supplies Expense 1,400

Utilities Expense 150

Insurance Expense 250

Depreciation Expense 250 (9,050)

Net PROFIT 2,350

 MASASI COMPANY
BALANCE SHEET
June 30, 2010

ACCOUNT $ $
ASSETS:
CURRENT ASSETS
Cash 7,150
Account Receivable 7,000

Supplies 600
Prepaid Insurance 2,750 17,500
PROPERTY, PLANT & EQUIPMENT
Office Equipment 15,000
(-)Acc. Depr. Office Equipment (250) 14,750
Total Assets 32,250
LIABILITIES & OE:
CURRENT LIABILITIES
Account Payable 4,500
Salaries Payable 2,000
Utilities Payable 150
Unearned Service Revenue 1,500
TOTAL LIABILITY 8,150
OE
T. Masasi, Capital 21,750
(+)Net PROFIT 2,350
Total OE 24,100
Total Liabilities & OE 32,250

MASASI COMPANY
 CLOSING ENTRY
June 30, 2010

SL DESCRIPTION  REF DEBIT($) CREDIT($)

1 Service Revenue …………DR. 11,400

Income summery ……….CR. 11,400

(to close Revenue)
2 Income summery……………….DR 9,050

Salaries Expense …………CR. 6,000

Rent Expense……………….CR. 1,000
Supplies Expense …………CR. 1,400
Utilities Expense………….CR. 150
Insurance Expense……….CR. 250
Depreciation Expense……CR. 250
(to close expenses)
3 INCOME SUMMARY………DR. 2,350

CAPITAL ………………….CR. 2,350

(To close income summary)