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Exercises

The trial balance for Shawshank Company on December 31, 2020 shows total debits of $39,600 equal to total credits of $39,600. The general journal includes entries on April 1 for cash, owner's capital and accounts payable. The general ledger shows cash account transactions from April 1 to April 20 including revenues, expenses and ending balance. The trial balance for Macon Company on December 31, 2020 shows total debits of $152,000 equal to total credits of $152,000.

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31 views

Exercises

The trial balance for Shawshank Company on December 31, 2020 shows total debits of $39,600 equal to total credits of $39,600. The general journal includes entries on April 1 for cash, owner's capital and accounts payable. The general ledger shows cash account transactions from April 1 to April 20 including revenues, expenses and ending balance. The trial balance for Macon Company on December 31, 2020 shows total debits of $152,000 equal to total credits of $152,000.

Uploaded by

Thiều Xuân Lam
Copyright
© © All Rights Reserved
Available Formats
Download as PDF, TXT or read online on Scribd
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BE 2.

10:

Shawshank Company
Trial balance

December 31, 2020.

Debit Credit

Cash $10,600

PrepaidInsurance 3,500

Accounts Payable $3,000


Unearned Service Revenue 2,200

Owner's Capital 1,000

Owner's Drawings 4,500

Service Revenue 25,400

Salaries andWages Expense 18,600

RentExpense 2,400

$39,600 $39,600

Do it2. 2:
General Journal:

Date Account title Ref. Debit Credit

Cash 6,500

Owner's Capital 6,500


Supplies 1,200

Cash 400

Accounts payable 800

No entries

Do it2.3:

General ledger:
Cash
Date Description Debit Credit Balance

April 1
Beginning balance 1,600

3 Service revenue 3,400 5,000

16 Rentexpense 700 5,700


20 Salaries and wages 250 5,950

Do it 2.4:
Macon Company
Trial balance

December 31, 2020


Debit Credit

Cash ) 6,000
$
AccountsReceivable 8,000

Supplies 7,000

Equipment 80,000

Notes payable 20,000


$

Accounts payable 11,000

Salaries and wages payable 3,000

Owner's Capital 28,000

Owner's Drawings 9,000

Service revenue 90,000

Salaries wages
and
expense 38,000
Rentexpense 4,000

$152,000 $152,000

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