Scribd
Upload
232 views25 pages

Jurczyk Distributing Co. Financials

Here are the steps to complete the accounting cycle for Jurczyk Distributing Company for December 2014: 1. Post all transactions from the general journal to the appropriate general ledger accounts. 2. Prepare an unadjusted trial balance from the general ledger account balances. 3. Record the following adjustments: - Accrued salaries expense of $800 - Depreciation expense on equipment of $200 4. Prepare an adjusted trial balance. 5. Prepare an income statement from the adjusted trial balance. 6. Prepare a statement of retained earnings from the income statement. 7. Prepare a classified balance sheet from the adjusted trial balance. 8. Close revenue and expense accounts to retained

Uploaded by

Rifky Aristyo Rahadiyan TE
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as XLSX, PDF, TXT or read online on Scribd
232 views25 pages

Jurczyk Distributing Co. Financials

Here are the steps to complete the accounting cycle for Jurczyk Distributing Company for December 2014: 1. Post all transactions from the general journal to the appropriate general ledger accounts. 2. Prepare an unadjusted trial balance from the general ledger account balances. 3. Record the following adjustments: - Accrued salaries expense of $800 - Depreciation expense on equipment of $200 4. Prepare an adjusted trial balance. 5. Prepare an income statement from the adjusted trial balance. 6. Prepare a statement of retained earnings from the income statement. 7. Prepare a classified balance sheet from the adjusted trial balance. 8. Close revenue and expense accounts to retained

Uploaded by

Rifky Aristyo Rahadiyan TE
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as XLSX, PDF, TXT or read online on Scribd

Assets

Cash

Accounts
Receivable + Supplies + License + Equipment +

Land

Liabilities
Stockholdes' Equity
Accounts Notes Unearned Common
= Payable + Payable + Revenue Stock +

(a)
(b)
(c )
(d)
(e)
(f)
(g)
(h)
(i)
(j)
(k)
(l)
(m)
(n)
Total

This is a tabular summa

Stockholdes' Equity Type of Transaction


Retained
Earnings

ummary

Student Information
Student Name:
Rifky Aristyo Rahadiyan
Date:
19-Nov-14
Assignment:
COMPREHENSIVE PROBLEM 5

JURCZYK DISTRIBUTING COMPANY


General Journal
December, 2014
Date

Account Titles and Explanation


Dec. 6 Salaries and wages expense
Salaries and wages payable
Cash
(Paid salaries and wages expense for
december and november)
8 Cash

Ref.

Debit
$
$

600
1,000

13 Merchandise Inventory
Accounts Payable
(Purchase merchandise on account)

15 Supplies

Cost of goods sold


Merchandise Inventory
(Sold merchandise on account)
20 Salaries and wages expense

2,100

6,600

4,100

9,000

2,000

12,000

8,400

4,100

9,000

2,000

Cash
(Purchase supplies)
18 AccountsReceivable
Sales Revenue

1,600

6,600

Sales Revenue
Cost of Goods Sold
Merchandise Inventory
(Sold merchandise for cash)

2,100

Accounts Receivable
(Receive cash from payment and
without discount)
10 Cash

Credit

12,000

8,400

1,800

20
Cash
(Paid salaries and wages expense)
23 Accounts Payable
Cash
Merchandise Inventory
(Paid debt in december 13 for cash
less discount)

27 Cash
Sales Discounts
Accounts Receivable
(Receive cash from payment less
discount)

$
$

1,800

$
$

8,820
180

12,000

9,000

11,640
360

Credit
1,600

2,100

6,600

4,100

9,000

2,000

12,000

8,400

1,800

8,820
180

12,000

General Ledger

Cash
Date

Description

Dec.1

Beginning Balance
6
8
10
15
20
23
27

Debit

REF
N

Credit

7,200

$
$

2,100
6,600

J1
J1
J1
J1
J1
J1
J1

1,600

$
$
$

2,000
1,800
8,820

11,640

Accounts Receivable
Date

Description

Dec.1 Beginning Balance


8
18
27

Debit

REF
N

Credit
4,600

J1
J1

2,100

12,000

12,000

J1

Merchandise Inventory
Date

Description

Dec.1 Beginning Inventory


10
13
18
23

Debit

REF
N

Credit

12,000

9,000

J1
J1
J1
J1

4,100

$
$

8,400
180

Supplies
Date

Description

Dec.1 Opening Balance


15

Debit

REF
N
J1

$
$

Credit
1,200
2,000

31 Adjustment

J2

1,500

Equipment
Date

Description

Dec.1 Opening Balance

Debit

REF
N

Credit

22,000

Accumulated Depreciation Equipment


Date

Description

Dec.1 Opening Balance


31 Adjustment

Debit

REF

Credit
$
$

N
J2

2,200
200

Accounts Payable
Date

Description

Dec.1 Opening Balance


13
23

Debit

REF

Credit
$
$

N
J1
J1

4,500
9,000

9,000

Salaries and Wages Payable


Date

Description

Dec.1 Opening Balance


6
31 Adjustment

Debit

REF
N
J1

Credit
1,000

800

1,000

J2

Share Capital Ordinary


Date

Description

REF

Debit

Credit

Dec.1

Opening Balance

30,000

Retained Earnings
Date

Description

Dec.1 Opening Balance


31 Closing

REF
N

J3

Debit

Credit
$
$

Sales Revenue

9,300
840

er

Balance
Debit
$
$
$
$
$
$
$
$

Credit

7,200
5,600
7,700
14,300
12,300
10,500
1,680
13,320

Balance
$
$
$
$

Debit
4,600
2,500
14,500
2,500

Credit

Balance
$
$
$
$
$

Debit
12,000
7,900
16,900
8,500
8,320

Credit

Balance
$
$

Debit
1,200
3,200

Credit

1,700

Balance
$

Debit
22,000

Credit

ment
Balance
Debit
$
$

Credit
2,200
2,400

Balance
Debit
$
$
$

Credit
4,500
13,500
4,500

Balance
Debit
$
$
$

Credit
1,000
800

Balance
Debit

Credit

30,000

Balance
Debit
$
$

Credit
9,300
10,140

Student Information
Student Name:
Date:
Assignment:

Trial Balance
Account Title
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33

34
35

34
35

Student Information
Student Name:
Date:
Assignment:

Adjusted Trial Balance


1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33

34
35

34
35

Worksheet
Account Title

TRIAL BALANCE
DR
CR

ADJUSTMENT
DR
CR

ADJUSTED
TRIAL BALANCE INCOME STATEMENT BALANCE SHEET
DR
CR
DR
CR
DR
CR

Student Information
Student Name:
Date:
Assignment:

Income Statement

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25

Student Informatin
Student Name:
Date:
Assignment:

Retained Earnings Statement


1
2
3
4
5
6
7
8
9
10

1
2
3
4
5
6
7
8
9
10

Student Information
Student Name:
Date:
Assignment:

Statement of Financial Position


1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35

Student Information
Student Name:
Date:
Assignment:

Post-Closing Trial Balance


1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33

34
35

34
35

You might also like