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Answer Key To Fundamentals of Financial Accounting and Reporting CDC

The document contains journal entries, trial balances, and other accounting information for Systems Consultant Haydee Kalaw for August 2018. It records various business transactions including cash receipts, equipment purchases, salary and rent expenses, resulting in increases and decreases to different asset and expense accounts. At the end is a trial balance showing the balances of all accounts as of the end of August 2018.

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Aprile Margareth Hidalgo
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1K views3 pages

Answer Key To Fundamentals of Financial Accounting and Reporting CDC

The document contains journal entries, trial balances, and other accounting information for Systems Consultant Haydee Kalaw for August 2018. It records various business transactions including cash receipts, equipment purchases, salary and rent expenses, resulting in increases and decreases to different asset and expense accounts. At the end is a trial balance showing the balances of all accounts as of the end of August 2018.

Uploaded by

Aprile Margareth Hidalgo
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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SOLUTION TO PROBLEM

HAYDEE KALAW, SYSTEMS CONSULTANT

NO. 1 NO.2
TYPES OF
EFFECTS ON TOTAL ASSETS
1. Journal Entries EVENT
Debit Credit
a. Cash 150,000.00 SA INC
Kalaw, Capital 150,000.00

b Rent Expense 7,500.00 UA DEC


Cash 7,500.00

c Office Furniture 26,000.00 EA UNCHANGED


Cash 26,000.00

d Cash 10,500.00 SA INC


Consulting Revenues 10,500.00

Accounts
e Receivable 12,750.00 SA INC
Consulting Revenues 12,750.00

f Office Equipment 55,000.00


Cash 27,500.00 EA UNCHANGED
Accounts Payable 27,500.00 SA INC

g n/a N/A UNCHANGED

h Cash 7,000.00 EA UNCHANGED


Accounts
Receivable 7,000.00

i Office Furniture 8,000.00 SA INC


Accounts Payable 8,000.00

j Salaries Expense 32,500.00 UA DEC


Cash 32,500.00

k Cash 10,250.00 SA INC


Consulting Revenues 10,250.00

Accounts
l Receivable 11,500.00 SA INC
Consulting Revenues 11,500.00

m Cash 6,000.00 EA UNCHANGED


Accounts
Receivable 6,000.00

n Accounts Payable 4,000.00 UA DEC


Cash 4,000.00

o Utilities Expense 2,250.00 UA DEC


Cash 2,250.00

p Utilities Expense 2,500.00 UA DEC


Cash 2,500.00

q Kalaw Withdrawal 10,000.00 UA DEC


Cash 10,000.00

NO.3

CASH Accounts Receivable


Dr Cr Dr Cr
a. 150,000.00 e 12,750.00
b   7,500.00 h   7,000.00
c   26,000.00 l 11,500.00
d 10,500.00 m   6,000.00
f   27,500.00  
h 7,000.00 24,250.00 13,000.00
j   32,500.00 11,250.00
k 10,250.00
m 6,000.00
n   4,000.00
o   2,250.00
p   2,500.00
q   10,000.00
183,750.00 112,250.00
71,500.00

Office Furniture Office Equipment


Dr Cr Dr Cr
c 26,000.00 f 55,000.00
i 8,000.00  
   
   
   
34,000.00 55,000.00

Accounts Payable Kalaw, Capital Kalaw, Withdrawals


Dr Cr Dr Cr Dr Cr

f   27,500.00 a   150,000.00 q 10,000.00


i   8,000.00    
n 4,000.00    
     
     

4,000.00 35,500.00 - 150,000.00 10,000.00


31,500.00

Consulting Revenues Salaries Expense


Dr Cr Dr Cr
d   10,500.00 j 32,500.00
e   12,750.00  
k   10,250.00  
l   11,500.00  
  45,000.00 32,500.00

Rent Expense Utilities Expense Miscellaneous Expense


Dr Cr Dr Cr Dr Cr
7,500.00 o 2,250.00  
  p 2,500.00  
     
     
7,500.00 4,750.00 -

NO. 4

Systems Consultant
Haydee Kalaw
Aug-18
Trial Balance

Account Title Debit Credit


Cash 71,500.00
Accounts Receivable 11,250.00
Office Furniture 34,000.00
Office Equipment 55,000.00
Accounts Payable 31,500.00
Kalaw Capital 150,000.00
Kalaw Withdrawals 10,000.00
Consulting Revenues 45,000.00
Salaries Expense 32,500.00
Rent Expense 7,500.00
Utilities Expense 4,750.00
Miscellaneous -

Total 226,500.00 226,500.00

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