FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Concept explainers

Bookkeeping
Bookkeeping is the process of recording the financial transactions of a company on a regular basis. With the process of bookkeeping, companies can track important financial information that helps management in making crucial decisions.
Question
Make a trail balance using these general ledgers.
Copy of Module Six Lesson Two Assignm ASC ACCOUNT Cash ACCOUNT NO 101 POST REF BALANCE DATE ITEM DE BIT DEBIT CREDIT CREDIT lalance 17 18 22 23 24 25 27 29 15,000.00 3.000.00 12.000.00 12.500 00 10.000.00 2.500.00 4,600.00 4.800.00 800.00 800 00 5.300 00 02 G2 500.00 10 G2 G2 11 2,000 00 300.00 12 G2 13 02 4.000 00 14 G2 2 6.000.00 15 G2 500.00 17 20 21 22 23 24 25 20 27 28 ACCOUNT Accounts Recelvable - Just Bats ACCOUNT NO. 102 30 POST BALANCE 31 DATE ITEM REF DEBIT CREDIT DEBIT CREDIT Juy 1leatance 33 1Balance 10.000.00 34 35 30 37 39 ACCOUNT Accounts Receivable - Caps, Inc ACCOUNT NO. 103 41 POST. BALANCE DATE ITEM July 1 Balance 42 DEBIT 5,000.00 4.700.00 REF. DEBIT CREDIT CREDIT 44 45 G2 300.00 47 49 50 ACCOUNT Accounts Receivable- Kinston Rec Dept. 51 ACCOUNT NO. 104 52 POST BALANCE DATE ITEM July 53 REF. DEBIT CREDIT DEBIT CREDIT 56 1 Balance 5.000.00 56 G2 2.000.003.000.00 59 60 61 ACCOUNT Computer Equipment ACCOUNT NO 120 62 POST. BALANCE 63 DATE ITEM REF. DEBIT CREDIT DEBIT 14,800.00 CREDIT 1 Balance 66 July 17 G2 3,000.00 17,800.00 67 68 69 70 71 72 ACCOUNT Store Fixtures ACCOUNT NO 130 73 POST. BALANCE 74 DATE ITEM REF. DEBIT CREDIT DEBIT CREDIT 76 July 1 Balance 10,000.00 77 78 79 80 81 82 ACCOUNT Accounts Payable - City Mal 83 ACCOUNT NO. 202 POST. REF. BALANCE DATE ITEM DEBIT CREDIT DEBIT CREDIT luly 1Balance 87 3.000.00 1 ACCOUNTLAounts Payable - Sporting Goods 4U ACCOUNT NO. 203 BALANCE CREDIT POST. DATE ITEM REF DEBIT CREDIT DEBIT July 1 Balance 13,000.00
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Transcribed Image Text:Copy of Module Six Lesson Two Assignm ASC ACCOUNT Cash ACCOUNT NO 101 POST REF BALANCE DATE ITEM DE BIT DEBIT CREDIT CREDIT lalance 17 18 22 23 24 25 27 29 15,000.00 3.000.00 12.000.00 12.500 00 10.000.00 2.500.00 4,600.00 4.800.00 800.00 800 00 5.300 00 02 G2 500.00 10 G2 G2 11 2,000 00 300.00 12 G2 13 02 4.000 00 14 G2 2 6.000.00 15 G2 500.00 17 20 21 22 23 24 25 20 27 28 ACCOUNT Accounts Recelvable - Just Bats ACCOUNT NO. 102 30 POST BALANCE 31 DATE ITEM REF DEBIT CREDIT DEBIT CREDIT Juy 1leatance 33 1Balance 10.000.00 34 35 30 37 39 ACCOUNT Accounts Receivable - Caps, Inc ACCOUNT NO. 103 41 POST. BALANCE DATE ITEM July 1 Balance 42 DEBIT 5,000.00 4.700.00 REF. DEBIT CREDIT CREDIT 44 45 G2 300.00 47 49 50 ACCOUNT Accounts Receivable- Kinston Rec Dept. 51 ACCOUNT NO. 104 52 POST BALANCE DATE ITEM July 53 REF. DEBIT CREDIT DEBIT CREDIT 56 1 Balance 5.000.00 56 G2 2.000.003.000.00 59 60 61 ACCOUNT Computer Equipment ACCOUNT NO 120 62 POST. BALANCE 63 DATE ITEM REF. DEBIT CREDIT DEBIT 14,800.00 CREDIT 1 Balance 66 July 17 G2 3,000.00 17,800.00 67 68 69 70 71 72 ACCOUNT Store Fixtures ACCOUNT NO 130 73 POST. BALANCE 74 DATE ITEM REF. DEBIT CREDIT DEBIT CREDIT 76 July 1 Balance 10,000.00 77 78 79 80 81 82 ACCOUNT Accounts Payable - City Mal 83 ACCOUNT NO. 202 POST. REF. BALANCE DATE ITEM DEBIT CREDIT DEBIT CREDIT luly 1Balance 87 3.000.00 1 ACCOUNTLAounts Payable - Sporting Goods 4U ACCOUNT NO. 203 BALANCE CREDIT POST. DATE ITEM REF DEBIT CREDIT DEBIT July 1 Balance 13,000.00
ACCOUNT NO. 204 101 ACCOUNT Accounts Payable- Gloves Unlimited POST. BALANCE 102 DATE ITEM REF CREDIT DEBIT CREDIT 103 DEBIT 105 July 1Balance 100 107 108 109 110 ACCOUNT NO. 301 BALANCE CREDIT 111 ACCOUNT Jon Smith. Capital. 112 POST DATE ITEM REF DEBIT CREDIT DEBIT 113 35,000.00 40.000.00 115 1Balance 116 27 G2 5.000.00 117 118 119 120 ACCOUNT NO. 302 BALANCE CREDIT 121 ACCOUNT Sarah Smith, CapitalL 122 POS. DATE ITEM REF DEBIT CREDIT DEBIT 123 125 July 1 Balance 51.500.00 22 126 127 128 129 130 ACCOUNT Joe Smith, Drawing ACCOUNT NO. 303 131 132 BALANCE DEBIT CREDIT POST 133 DATE ITEM REF. DEBIT CREDIT 134 July 1 Balance 2,000.00 136 137 138 139 140 141 ACCOUNT Sarah Smith, Drawing 304 ACCOUNT NO BALANCE 142 POST. DATE ITEM July 1 Balance 143 REF. DEBIT CREDIT DEBIT CREDIT 144 3,200.00 | 10,000.00 147 G2 13,200.00 148 149 150 151 152 ACCOUNT T-Shirt Sales ACCOUNT NO. BALANCE CREDIT 401 153 POST. 154 DATE ITEM REF. DEBIT CREDIT DEBIT 155 July 1 Balance 158 25 159 160 161 162 163 ACCOUNT Hat Sales ACCOUNT NO. 402 164 POT. BALANCE 165 DATE ITEM REF DEBIT CREDIT DEBIT CREDIT 166 July 1 Balance 169 18 G2 500.00 500.00 170 171 172 173 ACCOUNT Salary Expense 175 174 ACCOUNT NO. BALANCE 520 POST. 176 DATE ITEM REF. DEBIT CREDIT DEBIT CREDIT July 1 Balance 177 13,500.00 180 29 G2 500.00 14,000.00 181 182 183 164 185 ACCOUNT Rent Expense ACCOUNT NO. 525 186 POST. BALANCE CREDIT DEBIT 187 DATE ITEM REF. DEBIT CREDIT 188 July 1 Balance 24,000.00 190 25 G2 4,000.00 28,000.00 191 192 193 194 195 196 197
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Transcribed Image Text:ACCOUNT NO. 204 101 ACCOUNT Accounts Payable- Gloves Unlimited POST. BALANCE 102 DATE ITEM REF CREDIT DEBIT CREDIT 103 DEBIT 105 July 1Balance 100 107 108 109 110 ACCOUNT NO. 301 BALANCE CREDIT 111 ACCOUNT Jon Smith. Capital. 112 POST DATE ITEM REF DEBIT CREDIT DEBIT 113 35,000.00 40.000.00 115 1Balance 116 27 G2 5.000.00 117 118 119 120 ACCOUNT NO. 302 BALANCE CREDIT 121 ACCOUNT Sarah Smith, CapitalL 122 POS. DATE ITEM REF DEBIT CREDIT DEBIT 123 125 July 1 Balance 51.500.00 22 126 127 128 129 130 ACCOUNT Joe Smith, Drawing ACCOUNT NO. 303 131 132 BALANCE DEBIT CREDIT POST 133 DATE ITEM REF. DEBIT CREDIT 134 July 1 Balance 2,000.00 136 137 138 139 140 141 ACCOUNT Sarah Smith, Drawing 304 ACCOUNT NO BALANCE 142 POST. DATE ITEM July 1 Balance 143 REF. DEBIT CREDIT DEBIT CREDIT 144 3,200.00 | 10,000.00 147 G2 13,200.00 148 149 150 151 152 ACCOUNT T-Shirt Sales ACCOUNT NO. BALANCE CREDIT 401 153 POST. 154 DATE ITEM REF. DEBIT CREDIT DEBIT 155 July 1 Balance 158 25 159 160 161 162 163 ACCOUNT Hat Sales ACCOUNT NO. 402 164 POT. BALANCE 165 DATE ITEM REF DEBIT CREDIT DEBIT CREDIT 166 July 1 Balance 169 18 G2 500.00 500.00 170 171 172 173 ACCOUNT Salary Expense 175 174 ACCOUNT NO. BALANCE 520 POST. 176 DATE ITEM REF. DEBIT CREDIT DEBIT CREDIT July 1 Balance 177 13,500.00 180 29 G2 500.00 14,000.00 181 182 183 164 185 ACCOUNT Rent Expense ACCOUNT NO. 525 186 POST. BALANCE CREDIT DEBIT 187 DATE ITEM REF. DEBIT CREDIT 188 July 1 Balance 24,000.00 190 25 G2 4,000.00 28,000.00 191 192 193 194 195 196 197
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