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Financial Accounting Entries - Complete Exercise BE4-1. PA-2A. & PA-4A.

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Problem no cash Net income
a -100 0
b 0 -20
c 0 1300
d 800 800
e -2500 0
f 0 -600
P4-2A Gil Vogel started his own consulting rm, Vogel Consulting, on June 1, 2012.
The trial balance at June 30 is as follows.

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SOLUTION:
Date Account Titles Debit Credit
1.
2012
June 30 Supplies Expense..............................................................
Supplies ($2,000 – $720)........................................
1,280
1,280

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. solution Problem no cash Net income a -100 0 b 0 -20 c 0 1300 d 800 800 e -2500 0 f 0 -600 P4-2A Gil Vogel started his own consulting firm, Vogel Consulting, on June 1, 2012. The trial balance at June 30 is as follows. Solution SOLUTION: Date Account Titles Debit Credit 1. 2012 June 30 Supplies Expense Supplies ($2,000 - $720) 1,280 1,280 2. 30 Utilities Expense Accounts Payable 180 180 3. 30 Insurance Expense Prepaid Insurance ($2,880 ? 12 months) 240 240 4. 30 Unearned Service Revenue Service Revenue 4,100 4,100 5. 30 Salaries and Wages Expense Salaries and Wages Payable 1,250 1,250 6. 30 Depreciation Expense Accumulated Depreciation- Equipment 250 250 7. 30 Accounts Receivable Service Revenue 3,900 3,900 (b) Cash 6/30 Bal. 6,850? Accounts Receivable 6/30 Bal. 7,000? 6/30 3,900? 6/30 Bal. 10,900? Prepaid Insurance 6/30 Bal. 2,880? ?6/30 240 6/30 Bal. 2,640? Supplies 6/30 Bal. 2,000? ?6/30 1,280 6/30 Bal. 720? Equipment 6/30 Bal. 15,000? Accumulated Depreciation- Equipment ?6/30 250 ?6/30 Bal. 250 Accounts Payable ?6/30 Bal. 4,230 ?6/30 180 ?6/30 4,410 Salaries and Wages Payable ?6/30 1,250 ?6/30 Bal. 1,250 Unearned Service Revenue 6/30 4,100? ?6/30 Bal. 5,200 ?6/30 Bal. 1,100 Common Stock ?6/30 Bal. 22,000 Service Revenue ?6/30 Bal. 8,300 ?6/30 4,100 ?6/30 3,900 ?6/30 Bal. 16,300 Salaries and Wages Expense 6/3 ...
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