Accounting vs Financial Management Assignment
Added on 2021-04-17
27 Pages4315 Words29 Views
Running head: ACCOUNTING & FINANCIAL MANAGEMENTAccounting & Financial ManagementName of the Student:Name of the University:Author’s Note:
ACCOUNTING & FINANCIAL MANAGEMENT1Table of ContentsJournal Entries:................................................................................................................................2Ledgers:...........................................................................................................................................8Trial Balance for January:.............................................................................................................18Unadjusted Trial Balance for February:........................................................................................19Adjusted Trial Balance for February:............................................................................................20Income Statement:.........................................................................................................................21RE Statement:................................................................................................................................22Balance Sheet:...............................................................................................................................22Post-Closing Trial Balance:...........................................................................................................23Bibliography:.................................................................................................................................25
ACCOUNTING & FINANCIAL MANAGEMENT2Journal Entries:In the books of .......Journal EntriesDr.Cr.DateParticularsAmountAmount01-01-2015Cash A/c.Dr.$1,00,000To,Common Stock A/c.$1,00,00001-01-2015Cash A/c.Dr.$2,20,000To,N/P1 A/c.$2,20,00001-01-2015Equipment 1 A/c.Dr.$1,50,000Furniture 1 A/c.Dr.$1,00,000To,Cash A/c.$2,50,00002-01-2015Rent Expenses A/c.Dr.$2,000To,Cash A/c.$2,00002-01-2015PP-Insurance A/c.Dr.$4,800To,Cash A/c.$4,80002-01-2015Equipment 1 A/c.Dr.$40,000To,Cash A/c.$10,000To,A/P A/c.$30,00003-01-2015Inventory A/c.Dr.$15,000To,Cash A/c.$15,00003-01-2015Supplies A/c.Dr.$2,000To,Cash A/c.$2,000
ACCOUNTING & FINANCIAL MANAGEMENT308-01-2015Cash A/c.Dr.$20,000CC/R A/c.Dr.$5,000CGS A/c.Dr.$5,000To,Sales Revenue A/c.$25,000To,Inventory A/c.$5,00010-01-2015A/P A/c.Dr.$2,000To,Cash A/c.$2,00012-01-2015Inventory A/c.Dr.$4,000To,A/P A/c.$4,00015-01-2015Cash A/c.Dr.$21,000A/R A/c.Dr.$3,000CC/R A/c.Dr.$6,000CGS A/c.Dr.$6,000To,Sales Revenue A/c.$30,000To,Inventory A/c.$6,00015-01-2015Wages Expenses A/c.Dr.$8,000To,Cash A/c.$8,00016-01-2015Cash A/c.Dr.$3,000To,CC/R A/c.$3,00023-01-2015Cash A/c.Dr.$16,000A/R A/c.Dr.$2,000CC/R A/c.Dr.$2,000CGS A/c.Dr.$4,000To,Sales Revenue A/c.$20,000To,Inventory A/c.$4,00024-01-2015A/P A/c.Dr.$4,000To,Cash A/c.$4,000
ACCOUNTING & FINANCIAL MANAGEMENT425-01-2015Inventory A/c.Dr.$6,000To,A/P A/c.$6,00029-01-2015Wages Expenses A/c.Dr.$7,500To,Cash A/c.$7,50029-01-2015Cash A/c.Dr.$2,000To,A/R A/c.$2,00029-01-2015Cash A/c.Dr.$4,000To,CC/R A/c.$4,00029-01-2015Cash A/c.Dr.$19,600A/R A/c.Dr.$2,800CC/R A/c.Dr.$5,600CGS A/c.Dr.$5,600To,Sales Revenue A/c.$28,000To,Inventory A/c.$5,60029-01-2015N/P 1 A/c.Dr.$2,000Interest Expenses A/c.Dr.$1,000To,Cash A/c.$3,00001-02-2015Rent Expenses A/c.Dr.$2,000To,Cash A/c.$2,00001-02-2015Cash A/c.Dr.$1,60,000To,N/P 2 A/c.$1,60,00001-02-2015Equipment 2 A/c.Dr.$1,00,000Furniture 2 A/c.Dr.$1,00,000To,Cash A/c.$2,00,000
ACCOUNTING & FINANCIAL MANAGEMENT501-02-2015Cash A/c.Dr.$3,000To,Rental Revenue A/c.$3,00002-02-2015Dividend A/c.Dr.$30,000To,Cash A/c.$30,00003-02-5015Cash A/c.Dr.$2,000To,CC/R A/c.$2,00003-02-2015Inventory A/c.Dr.$25,000To,Cash A/c.$2,000To,A/P A/c.$23,00007-02-2015Cash A/c.Dr.$14,000A/R A/c.Dr.$2,000CC/R A/c.Dr.$4,000CGS A/c.Dr.$4,000To,Sales Revenue A/c.$20,000To,Inventory A/c.$4,00008-02-2015Utility Expenses A/c.Dr.$500To,U/P A/c.$50009-02-2015Cash A/c.Dr.$3,000To,A/R A/c.$3,00010-02-2015A/P A/c.Dr.$3,000To,Cash A/c.$3,00014-02-2015Cash A/c.Dr.$9,000A/R A/c.Dr.$3,000CC/R A/c.Dr.$3,000CGS A/c.Dr.$3,000To,Sales Revenue A/c.$15,000To,Inventory A/c.$3,000
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