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    Exercises

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    Thiều Xuân Lam
    The trial balance for Shawshank Company on December 31, 2020 shows total debits of $39,600 equal to total credits of $39,600. The general journal includes entries on April 1 for cash, owner's capital and accounts payable. The general ledger shows cash account transactions from April 1 to April 20 including revenues, expenses and ending balance. The trial balance for Macon Company on December 31, 2020 shows total debits of $152,000 equal to total credits of $152,000.

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    Exercises

    Uploaded by

    Thiều Xuân Lam
    10 views3 pages
    The trial balance for Shawshank Company on December 31, 2020 shows total debits of $39,600 equal to total credits of $39,600. The general journal includes entries on April 1 for cash, owner's capital and accounts payable. The general ledger shows cash account transactions from April 1 to April 20 including revenues, expenses and ending balance. The trial balance for Macon Company on December 31, 2020 shows total debits of $152,000 equal to total credits of $152,000.

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    The trial balance for Shawshank Company on December 31, 2020 shows total debits of $39,600 equal to total credits of $39,600. The general journal includes entries on April 1 for cash, owner's capital and accounts payable. The general ledger shows cash account transactions from April 1 to April 20 including revenues, expenses and ending balance. The trial balance for Macon Company on December 31, 2020 shows total debits of $152,000 equal to total credits of $152,000.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    10 views3 pages

    Exercises

    Uploaded by

    Thiều Xuân Lam
    The trial balance for Shawshank Company on December 31, 2020 shows total debits of $39,600 equal to total credits of $39,600. The general journal includes entries on April 1 for cash, owner's capital and accounts payable. The general ledger shows cash account transactions from April 1 to April 20 including revenues, expenses and ending balance. The trial balance for Macon Company on December 31, 2020 shows total debits of $152,000 equal to total credits of $152,000.

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    of 3

    BE 2.

    10:

    Shawshank Company
    Trial balance

    December 31, 2020.

    Debit Credit

    Cash $10,600

    PrepaidInsurance 3,500

    Accounts Payable $3,000


    Unearned Service Revenue 2,200

    Owner's Capital 1,000

    Owner's Drawings 4,500

    Service Revenue 25,400

    Salaries andWages Expense 18,600

    RentExpense 2,400

    $39,600 $39,600

    Do it2. 2:
    General Journal:

    Date Account title Ref. Debit Credit

    Cash 6,500

    Owner's Capital 6,500


    Supplies 1,200

    Cash 400

    Accounts payable 800

    No entries

    Do it2.3:

    General ledger:
    Cash
    Date Description Debit Credit Balance

    April 1
    Beginning balance 1,600

    3 Service revenue 3,400 5,000

    16 Rentexpense 700 5,700


    20 Salaries and wages 250 5,950

    Do it 2.4:
    Macon Company
    Trial balance

    December 31, 2020


    Debit Credit

    Cash ) 6,000
    $
    AccountsReceivable 8,000

    Supplies 7,000

    Equipment 80,000

    Notes payable 20,000


    $

    Accounts payable 11,000

    Salaries and wages payable 3,000

    Owner's Capital 28,000

    Owner's Drawings 9,000

    Service revenue 90,000

    Salaries wages
    and
    expense 38,000
    Rentexpense 4,000

    $152,000 $152,000

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