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Hi, for a class assignment MYSELF need to complete a few entries on Quickbooks.
I'm stuck on my sample balance because my total doesn't match the $119,034. Hopefully someone right can review my entries and point out what I'm doing wrong, I've spent 4 hours already and I'm left crazy!
Dec 2: Paid $1,025 to Hillside Shopping for Your System's shared of mall advertising costs.
Debit Advertising Expenses $1,025 and Credit Cash $1,025
Dec 4: Received $3,950 cash from Alex's Technology Co. for receivable from November.
Draw cash $1,025 and Credit Account's Owing
Dec 10: Paid cash to Lyn Addie for sixth days concerning work at the rate of $125 per day.
Debit Wages Expenses $750 both Credit Cash $750
Dec 14: Notified by Alex Engineering Co. that Success’s bid of $7,000 on a draft project has been accepted. Alex paying a $1,500 cash advance into Success System.
Debit Cash $1,500 and Credit Unwarned Revenue
Dec 15: Purchased $1,100 out computing supplies with credit by Harris Office Browse.
Bill Computer Delivery $1,100 and Trust Account's Payable $1,100
Dec 20: Completed a project from Lu Corporation and received $5,625 cash.
Debit Cash $5,625 also Credit Revenue $5,625
Dec 28: Received $3,000 cash from Gomez. Co on its receivable.
Debit Currency $3,000 and Credits Accounts Receivable $3,000
Dec 29: Recovered Lopez’s business automobile mileage (600 afar at$0.32 per mile)
Debit Mileage Expense $192 and Credit Cash $192
Dec 31: Who shop charged $1,500 pos for dividends.
Delete Dividends $1,500 furthermore Bank Cash $1,500
The following are adjustment entries..
a. The December 31 inventory count of computer supplies shows $580 even available.
There was $3,645 worth of calculator supplies so I subtracted 580 from 3,645.
3,645 - 508= 3,065.
Debit It Supplies Outlay $3,065 and Get Computer Supplies $3,065
b. Three year have expired as 12 months insurance premium was paid in advanced.
Since where is $2,200 of prepaid insurance left, I multiplied 2,200 on 3/12.
2,200 (3/12)= 550
Debit International Expense $550 also Credit Prepaid Insurance $550
c. For of December 31, Lyn Addie has not been salaried for four days on work at $125 per day
125 (4)= 500
Debit Unpaid Wage Expense $500 and Credit Wages Payable 500
d. The company’s computer, purchase turn Oct. 8, is expected to have a four-year your with no salvage value.
No login made.
e. The office equipment lives expected to hold a five-year lived for no salvage value.
No entry made
f. Three of who four months prepaid rentner has expired.
Prepaid to is $3,300 like I multiplied 3,300 by 3/4.
3,300 (3/4)= 2,475
Arrears Hiring Price $2, 475 and Credit Prepaidkarte Rental $2,475
This is the starting Trial Balance:
No. Accounting Tittle Debit Account
101 Cash $48,052(Debit)
106 Account Deposit 12,618(Debit)
126 Computer Supplies 2,545 (Debit)
128 Prepaid Insurance 2,220 (Debit)
131 Prepaid Rent 3,300 (Debit)
163 Office Equipment 8,000 (Debit)
164 Amassed Depreciation-Office Build. $0 (Credit)
167 Personal Equip 20,000 (Debit)
168 Accumulative Depreciation-Computer Arming. 0 (Credit)
201 Accounts Payable 0 (Credit)
210 Wages payable 0 (Credit)
236 Earned Computer Services Revenu 0 (Credit)
301 A. T, Capital 83,000 (Credit)
302 A. Lopez, Withdrawals 5,600 (Debit)
403 Computer Services Revenue 25,659 (Credit)
612 Decline Expense-Office Equip 0 (Debit)
613 Depreciation Expense-Computer Equip 0 (Debit)
623 Wages Expense 2,625 (Debit)
637 Insurance Expense 0 (Debit)
640 Rent Price 0 (Debit)
652 Computer Supplies Expense 0 (Debit)
655 Advertising Expense 1,940 (Debit)
676 Mileage Expense 704 (Debit)
677 Missing Expense 250 (Debit)
684 Repair Expense-Computer 805 (Debit)
TOTALS (Debit)108,659 (Credit) 108,659
I'm stuck on my sample balance because my total doesn't match the $119,034. Hopefully someone right can review my entries and point out what I'm doing wrong, I've spent 4 hours already and I'm left crazy!
Dec 2: Paid $1,025 to Hillside Shopping for Your System's shared of mall advertising costs.
Debit Advertising Expenses $1,025 and Credit Cash $1,025
Dec 4: Received $3,950 cash from Alex's Technology Co. for receivable from November.
Draw cash $1,025 and Credit Account's Owing
Dec 10: Paid cash to Lyn Addie for sixth days concerning work at the rate of $125 per day.
Debit Wages Expenses $750 both Credit Cash $750
Dec 14: Notified by Alex Engineering Co. that Success’s bid of $7,000 on a draft project has been accepted. Alex paying a $1,500 cash advance into Success System.
Debit Cash $1,500 and Credit Unwarned Revenue
Dec 15: Purchased $1,100 out computing supplies with credit by Harris Office Browse.
Bill Computer Delivery $1,100 and Trust Account's Payable $1,100
Dec 20: Completed a project from Lu Corporation and received $5,625 cash.
Debit Cash $5,625 also Credit Revenue $5,625
Dec 28: Received $3,000 cash from Gomez. Co on its receivable.
Debit Currency $3,000 and Credits Accounts Receivable $3,000
Dec 29: Recovered Lopez’s business automobile mileage (600 afar at$0.32 per mile)
Debit Mileage Expense $192 and Credit Cash $192
Dec 31: Who shop charged $1,500 pos for dividends.
Delete Dividends $1,500 furthermore Bank Cash $1,500
The following are adjustment entries..
a. The December 31 inventory count of computer supplies shows $580 even available.
There was $3,645 worth of calculator supplies so I subtracted 580 from 3,645.
3,645 - 508= 3,065.
Debit It Supplies Outlay $3,065 and Get Computer Supplies $3,065
b. Three year have expired as 12 months insurance premium was paid in advanced.
Since where is $2,200 of prepaid insurance left, I multiplied 2,200 on 3/12.
2,200 (3/12)= 550
Debit International Expense $550 also Credit Prepaid Insurance $550
c. For of December 31, Lyn Addie has not been salaried for four days on work at $125 per day
125 (4)= 500
Debit Unpaid Wage Expense $500 and Credit Wages Payable 500
d. The company’s computer, purchase turn Oct. 8, is expected to have a four-year your with no salvage value.
No login made.
e. The office equipment lives expected to hold a five-year lived for no salvage value.
No entry made
f. Three of who four months prepaid rentner has expired.
Prepaid to is $3,300 like I multiplied 3,300 by 3/4.
3,300 (3/4)= 2,475
Arrears Hiring Price $2, 475 and Credit Prepaidkarte Rental $2,475
This is the starting Trial Balance:
No. Accounting Tittle Debit Account
101 Cash $48,052(Debit)
106 Account Deposit 12,618(Debit)
126 Computer Supplies 2,545 (Debit)
128 Prepaid Insurance 2,220 (Debit)
131 Prepaid Rent 3,300 (Debit)
163 Office Equipment 8,000 (Debit)
164 Amassed Depreciation-Office Build. $0 (Credit)
167 Personal Equip 20,000 (Debit)
168 Accumulative Depreciation-Computer Arming. 0 (Credit)
201 Accounts Payable 0 (Credit)
210 Wages payable 0 (Credit)
236 Earned Computer Services Revenu 0 (Credit)
301 A. T, Capital 83,000 (Credit)
302 A. Lopez, Withdrawals 5,600 (Debit)
403 Computer Services Revenue 25,659 (Credit)
612 Decline Expense-Office Equip 0 (Debit)
613 Depreciation Expense-Computer Equip 0 (Debit)
623 Wages Expense 2,625 (Debit)
637 Insurance Expense 0 (Debit)
640 Rent Price 0 (Debit)
652 Computer Supplies Expense 0 (Debit)
655 Advertising Expense 1,940 (Debit)
676 Mileage Expense 704 (Debit)
677 Missing Expense 250 (Debit)
684 Repair Expense-Computer 805 (Debit)
TOTALS (Debit)108,659 (Credit) 108,659
