Accounting Cycle Review Problem A Name: For this problem, the journal, ledger, and work sheet and st
Accounting Cycle Review Problem A Name: For this problem, the journal, ledger, and work sheet and st | savvyessaywriters.org
Accounting Cycle Review Problem A
Name:
For this problem, the
journal, ledger, and work sheet and statements are under separate tabs.
Enter the appropriate
amounts/formulas in the shaded (gray) cells, or select from the drop-down
lists.
Not all cells should be
populated. An asterisk (*) will appear in the column to the right of an
incorrect answer.
1. & 5.
GENERAL JOURNAL
Page1
Date
Description
Post. Ref.
Debit
Credit
20–
July 1
Cash
111
135,000
L. Judar, Capital
311
135,000
Invested cash in
business.
2
Land
121
292,000
Building
122
96,200
Pool/Slide Facility
124
148,800
Pool Furniture
126
3,800
Mortgage Payable
223
420,800
Cash
111
120,000
Bought Blast Off!.
2
Prepaid Insurance
114
12,240
Cash
111
12,240
Paid one-year premium for
insurance.
2
Pool/Slide Facility
124
1,225
Accounts Payable
221
725
Cash
111
500
Bought inner tubes from
Worn Tires.
3
Cash
111
250
Concessions Income
412
250
Received payment for
rental space for
video games and food
concessions.
5
Advertising Expense
513
1,320
Accounts Payable
221
1,320
Grand opening expenses
from Party
Rentals and City Star.
6
Pool Maintenance Expense
511
1,600
Cash
111
1,600
July payment on contract
to All-Around
Maintenance.
GENERAL JOURNAL
Page 2
Date
Description
Post. Ref.
Debit
Credit
20–
July 6
Miscellaneous Expense
522
128
Cash
111
128
Paid for employee picnic.
7
Received cash for
services rendered.
9
Bought parts on account
from Arlen’s
Pool Supply.
14
Received cash for
services rendered.
15
Paid wages for period
July 1-July 14.
16
Paid Party Rentals and City Star
on account.
16
Withdrawal for personal
use.
17
Bought pool furniture
from Pool
Suppliers.
GENERAL JOURNAL
Page 3
Date
Description
Post. Ref.
Debit
Credit
20–
July 18
Paid for costume
alterations.
21
Received cash for
services rendered.
21
Partial payment to Worn
Tires.
23
Received allowance from
Pool
Suppliers for damaged
chairs.
25
Received and paid
telephone bill.
29
Paid wages for period
July 15-July 28.
31
Received cash for
services rendered.
31
Paid Arlen’s Pool Supply
on account.
31
Received and paid water
bill.
GENERAL JOURNAL
Page 4
Date
Description
Post. Ref.
Debit
Credit
20–
July 31
Paid installment on
mortgage.
31
Received and paid
electric bill..
31
Bought inner tubes from
Worn Tires.
31
Withdrawal for personal
use.
31
Additional revenue from
concessions.
Adjusting Entries
31
31
31
31
31
10.
GENERAL JOURNAL
Page 5
Date
Description
Post. Ref.
Debit
Credit
20–
Closing Entries
July 31
31
31
31
Accounting Cycle Review Problem A
Name:
For this problem, the
journal, ledger, and work sheet and statements are under separate tabs.
Enter the appropriate
amounts/formulas in the shaded (gray) cells, or select from the drop-down
lists.
Not all cells should be
populated. An asterisk (*) will appear in the column to the right of an
incorrect answer.
Enter as per the
transactions.
2. 6. & 11.
GENERAL LEDGER
Account
Cash
Account No.
111
Post.
Ref.
Balance
Date
Item
Debit
Credit
Debit
Credit
20–
July
Account
Accounts Receivable
Account No.
112
Post.
Ref.
Balance
Date
Item
Debit
Credit
Debit
Credit
20–
July
Account
Prepaid Insurance
Account No.
114
Post.
Ref.
Balance
Date
Item
Debit
Credit
Debit
Credit
20–
July
Account
Land
Account No.
121
Post.
Ref.
Balance
Date
Item
Debit
Credit
Debit
Credit
20–
July
Account
Building
Account No.
122
Post.
Ref.
Balance
Date
Item
Debit
Credit
Debit
Credit
20–
July
Account
Accumulated Depreciation,
Building
Account No.
123
Post.
Ref.
Balance
Date
Item
Debit
Credit
Debit
Credit
20–
July
Account
Pool/Slide Facility
Account No.
124
Post.
Ref.
Balance
Date
Item
Debit
Credit
Debit
Credit
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…bill xxxxxxxx inner xxxxx from Worn xxxxx 31Withdrawal for xxxxxxxx use xxxxxxxxxxxx xxxxxxx from xxxxxxxxxxx Adjusting Entries313131313110 xxxxxxx JOURNALPage 5DateDescriptionPost xxx DebitCredit20–Closing xxxxxxxxxxx xxxxxxxxxxxxxxxxxx Cycle xxxxxx Problem AName:For xxxx problem, the xxxxxxxx ledger, xxx xxxx sheet xxx statements are xxxxx separate tabs xxxxx the xxxxxxxxxxx xxxxxxxxxxxxxxxx in xxx shaded (gray) xxxxxx or select xxxx the xxxxxxxxx xxxxx Not xxx cells should xx populated An xxxxxxxx (*) xxxx xxxxxx in xxx column to xxx right…
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