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NIM : MAT81766
MATKUL : FINANCIAL ACCOUNTING
KELAS : A
E3.17
Matusiak OAO
Trial Balance
August 31, 2020
c. If the note bears interest at 12%, how many months has it been outstanding?
Asumsi 12% itu per tahun:
Notes Payable 10.000
Interest Payable 100
Interest Expense 100
$ 100 / $ 10.000 = 1%
Karena 12% untuk setahun berarti 1% tiap bulan. Karena baru 1% berarti baru sebulan.
P3.3
Alena Co.
Income Statement
For The Month Ended September 30, 2020
Revenues
Service Revenue 17.100
Rent Revenue 2.860
Total Revenue 19.960
Expenses
Salaries and Wages Expense 8.725
Rent Expense 3.600
Depreciation Expense 700
Supplies Expense 850
Utilities Expense 1.510
Interest Expense 100
Total Expenses 15.485 -
Alena Co.
Retained Earnings Statement
For The Month Ended September 30, 2020
Alena Co.
Statement of Financial Position
For The Month Ended September 30, 2020
Assets Liabilities
Cash 8.700 Notes Payable 10.000
Account Receivable 11.500 Accounts Payable 2.500
Supplies 650 Salaries and Wages Payable 725
Prepaid Rent 500 Unearned Rent Revenue 450
Equipment 18.000 Interest Payable 100
Accumulated Depreciation - Equipment -700
Total Liabilities 13.775
Equity:
Share Capital - Ordinary 22.000
Retained Earnings 2.875
Total Equity 24.875
Revenues
Service Revenue 6.590
Total Revenue 6.590
Expenses
Salaries and Wages Expense 2.000
Miscellaneous Expense 400
Supplies Expense 1.520
Depreciation Expense 250
Total Expenses 4.170 -
Net Income 2.420
Wang Roofing
Retained Earnings Statement
For the Month Ended March 31, 2020
Wang Roofing
Statement of Financial Position
For the Month Ended March 31, 2020
Assets Liabilities
Cash 4.500 Accounts Payable 2.500
Accounts Receivable 3.200 Salaries and Wages Payable 700
Supplies 480 Unearned Service Revenue 260
Equipment 11.000
Accumulated Depreciation - Equipment -1.500
Total Liabilities 3.460
Equity:
Share Capital - Ordinary 12.900
Retained Earnings 1.320
Total Equity 14.220
Total Assets 17.680 Total Liabilities and Equity 17.680
P4.1
c. Journalize the adjusting entries from the adjustments columns of the worksheet.
d. Journalize the closing entries from the financial statement columns of the worksheet.
March 31 Service Revenue 6590
Income Summary 6590
(To close revenue account)