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    Fahim Ahmed Ratul
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    This document contains accounting transactions and financial statements for Tomas Magnum for the month ending March 31, 2008. It includes a trial balance, various adjustments, an adjusted trial balance, income statement and balance sheet. Transactions include revenues, expenses, assets like cash and equipment, and liabilities such as notes payable and capital. Adjustments are made for supplies expense, depreciation expense, interest expense, and other accrued items. The net income for the period is $6,680.

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    Worksheet Solution (1) (1)

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    This document contains accounting transactions and financial statements for Tomas Magnum for the month ending March 31, 2008. It includes a trial balance, various adjustments, an adjusted trial balance, income statement and balance sheet. Transactions include revenues, expenses, assets like cash and equipment, and liabilities such as notes payable and capital. Adjustments are made for supplies expense, depreciation expense, interest expense, and other accrued items. The net income for the period is $6,680.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as docx, pdf, or txt
    7 views1 page

    Worksheet Solution

    Uploaded by

    Fahim Ahmed Ratul
    This document contains accounting transactions and financial statements for Tomas Magnum for the month ending March 31, 2008. It includes a trial balance, various adjustments, an adjusted trial balance, income statement and balance sheet. Transactions include revenues, expenses, assets like cash and equipment, and liabilities such as notes payable and capital. Adjustments are made for supplies expense, depreciation expense, interest expense, and other accrued items. The net income for the period is $6,680.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as docx, pdf, or txt
    of 1

    Dr: Cr: Dr: Cr: Dr: Cr: Dr: Cr: Dr: Cr:

    Cash 11400 11400 11400


    Account Receivable 5620 530 6150 6150
    Supplies 1050 670 380 380
    Prepaid Insurance 2400  600 1800 1800
    Equipment 30000 30000 30000
    Notes Payable 10000 10000 10000
    Account Payable 12350 12350 12350
    T. Magnum, Capital 20000 20000 20000
    T. Magnum, Drawing 600 600 600
    Service Revenue 13620 530 14150 14150
    Salaries Expense 2200 2200 2200
    Travel Expense 1300 1300 1300
    Rent Expense 1200 1200 1200
    Miscellaneous Expense 200 200 200
    Trial Balance Total 55970 55970
    Supplies Expense 670 670 670
    Depreciation Expense 1000 1000 1000
    Accumulated Depreciation 1000 1000 1000
    Interest Expense 300 300 300
    Interest Payable 300 300 300
    Insurance Expense 600 600 600
    Net Income 6680 6680
    Work Sheet Total 3100 3100 57800 57800 14150 14150 50330 50330
    Account Title Trial Balance Adjustment Adjusted Trial Balance Income Statement Balance Sheet
    TOMAS MAGNUM

    Work Sheet

    For the month of ended March 31, 2008

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