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

Feb 3rd, 2012
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P4-2A Gil Vogel started his own consulting firm, Vogel Consulting, on June 1, 2012. The trial balance at June 30 is as follows.....................................................................................................................................................................

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. solutionProblem nocashNet incomea-1000b0-20c01300d800800e-25000f0-600P4-2A Gil Vogel started his own consulting firm, Vogel Consulting, on June 1, 2012.The trial balance at June 30 is as follows.SolutionSOLUTION: DateAccount TitlesDebitCredit1.2012June 30Supplies ExpenseSupplies ($2,000 - $720)1,2801,2802.30Utilities ExpenseAccounts Payable 180 1803.30Insurance ExpensePrepaid Insurance ($2,880 12 months) 240 2404.30Unearned Service RevenueService Revenue4,1004,1005.30Salaries and Wages ExpenseSalaries and Wages Payable1,2501,2506.30Depreciation ExpenseAccumulated Depreciation- Equipment 250 2507.30Accounts ReceivableService Revenue3,9003,900(b)Cash6/30 Bal.6,850Accounts Receivable6/30 Bal.7,0006/303,9006/30 Bal.10,900Prepaid Insurance6/30 Bal.2,8806/302406/30 Bal.2,640Supplies6/30 Bal.2,0006/301,2806/30 Bal.720Equipment6/30 Bal.15,000Accumulated Depreciation-Equipment6/30 2506/30 Bal. 250Accounts Payable6/30 Bal. 4,2306/301806/304,410Salaries and Wages Payable6/30 1,2506/30 Bal. 1,250Unearned Service Revenue6/30 4,1006/30 Bal. 5,2006/30 Bal. 1,100Common Stock6/30 Bal.22,000Service Revenue6/30 Bal. 8,3006/30 4,1006/30 3,9006/30 Bal.16,300Salaries and Wages Expense6/3

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