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After The Success of The Company's First Two Months, Santana Rey Continues To Operate Business Solutions. The November 30, 2015, Unadjusted Trial Balance of Business Solutions (Reflecting Dec

The document appears to be a record of transactions for a company from December 1-31. It includes debit and credit entries for various expense, revenue, and balance sheet accounts. On December 31st, closing entries were made for expenses and revenues to zero out those accounts and debit retained earnings for the net income amount. Dividends of $7200 were also declared and paid out, reducing retained earnings.

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Jalaj Gupta
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203 views3 pages

After The Success of The Company's First Two Months, Santana Rey Continues To Operate Business Solutions. The November 30, 2015, Unadjusted Trial Balance of Business Solutions (Reflecting Dec

The document appears to be a record of transactions for a company from December 1-31. It includes debit and credit entries for various expense, revenue, and balance sheet accounts. On December 31st, closing entries were made for expenses and revenues to zero out those accounts and debit retained earnings for the net income amount. Dividends of $7200 were also declared and paid out, reducing retained earnings.

Uploaded by

Jalaj Gupta
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
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Date Accounts Debit Credit

2-Dec Advertising expense 965


cash 965

3-Dec Repairs expense-Computer 500


cash 500

4-Dec Cash 4350


Accounts receivable 4350

10-Dec Wages expense 600


cash 600

14-Dec Cash 2300


Unearned computer service revenue 2300

15-Dec Computer supplies 1700


Accounts payable 1700

16-Dec no entry

20-Dec cash 6125


Computer service revenue 6125

28-Dec cash 3200


Accounts receivable 3200

29-Dec Mileage expense 145


cash 145

31-Dec Dividends 1200


cash 1200

31-Dec Computer supplies expense 3765


computer supplies 3765

31-Dec Insurance expense 540


Prepaid insurance 540

31-Dec Wages expense 400


Wages payable 400

31-Dec Depreciation expense-Computer equipment 1350


Accumulated depreciation-Computer Equipment 1350

31-Dec Depreciation expense-Office equipment 425


Accumulated depreciation-Office Equipment 425

31-Dec Rent expense 2310


Prepaid rent 2310
Cash Accumulated depreciation-Office Equipment
Date Debit credit Balance Date Debit credit Balance
1-Dec 38964 1-Dec 0
2-Dec 965 37999 31-Dec 425 425
3-Dec 500 37499
4-Dec 4350 41849 Accumulated depreciation-Computer Equipment
10-Dec 600 41249 Date Debit credit Balance
14-Dec 2300 43549 1-Dec 0
20-Dec 6125 49674 31-Dec 1350 1350
28-Dec 3200 52874
29-Dec 145 52729 Accounts payable
31-Dec 1200 51529 Date Debit credit Balance
1-Dec 0
Accounts receivable 15-Dec 1700 1700
Date Debit credit Balance
1-Dec 13418 Wages payable
4-Dec 4350 9068 Date Debit credit Balance
28-Dec 3200 5868 1-Dec 0
31-Dec 400 400
Computer supplies
Date Debit credit Balance Unearned computer service revenue
1-Dec 2645 Date Debit credit Balance
15-Dec 1700 4345 1-Dec 0
31-Dec 3765 580 14-Dec 2300 2300

Prepaid insurance Common stock


Date Debit credit Balance Date Debit credit Balance
1-Dec 2160 1-Dec 64000
31-Dec 540 1620
Retained earnings
Prepaid Rent Date Debit credit Balance
Date Debit credit Balance 1-Dec 0
1-Dec 3080 31-Dec 27492 27492
31-Dec 2310 770 31-Dec 7200 20292

Office equipment Computer service revenues


Date Debit credit Balance Date Debit credit Balance
1-Dec 8500 1-Dec 38279
20-Dec 6125 44404
Computer equipment 31-Dec 44404 0
Date Debit credit Balance
1-Dec 21600 Depreciation expense-Office equipment
Date Debit credit Balance
Dividends 1-Dec 0
Date Debit credit Balance 31-Dec 425 425
1-Dec 6000 31-Dec 425 0
1-Dec 1200 7200
1-Dec 7200 0 Depreciation expense-Computer equipment
Date Debit credit Balance
Wages expense 1-Dec 0
Date Debit credit Balance 31-Dec 1350 1350
1-Dec 2575 31-Dec 1350 0
10-Dec 600 3175
31-Dec 400 3575 Insurance expense
31-Dec 3575 0 Date Debit credit Balance
1-Dec 0
Rent expense 31-Dec 540 540
Date Debit credit Balance 31-Dec 540 0
1-Dec 0
31-Dec 2310 2310 Computer supplies expense
31-Dec 2310 0 Date Debit credit Balance
1-Dec 0
Advertising expense 31-Dec 3765 3765
Date Debit credit Balance 31-Dec 3765 0
1-Dec 1728
2-Dec 965 2693 Mileage expense
31-Dec 2693 0 Date Debit credit Balance
1-Dec 634
Miscellaneous expense 29-Dec 145 779
Date Debit credit Balance 31-Dec 779 0
1-Dec 250
29-Dec 250 0 Repairs expense-computer
Date Debit credit Balance
Income summary 1-Dec 725
Date Debit credit Balance 3-Dec 500 1225
1-Dec 44404 44404 31-Dec 1225 0
14-Dec 16912 27492
14-Dec 27492 0

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