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Financial Accounting Assignment Sample

   

Added on  2020-06-04

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FINANCIAL ACCOUNTING
Financial Accounting Assignment Sample_1
Table of ContentsGENERAL JOURNAL ENTRY..................................................................................................................................................................................1WORKSHEET.............................................................................................................................................................................................................1INCOME STATEMENT..............................................................................................................................................................................................2BALANCE SHEET......................................................................................................................................................................................................2Working note.......................................................................................................................................................................................................2
Financial Accounting Assignment Sample_2
GENERAL JOURNAL ENTRYOpening entry Debit Credit Stationery supplies a/c Dr. $ 454.00 Gym Equipment a/c Dr. $ 21,776.00 Motor Vehicle a/c Dr. $ 30,926.00 Accounts receivable a/c Dr. $ 19,506.00 Cash at bank a/c Dr. $ 17,534.00 To Bank loan a/c $ 29,083.00 To Accounts payable a/c $ 8,929.00 To capital a/c (Bal. fig.) $ 52,184.00 WORKSHEETAccountUnadjusted T/BAdjustmentsAdjusted T/BIncome StatementBalance SheetDRCRDRCRDRCRDRCRDRCRCash At Bank$17,534.00$17,611.00$16,162.00$18,983.00$18,983.00Account Receivable$19,506.00$4,476.00$2,845.00$21,137.00$21,137.00Motor Vehicle$30,926.00$30,926.00$30,926.00Prepaid Rent$2,314.50$2,314.50$2,314.50Prepaid Insurance$1,970.67$1,970.67$1,970.67Acc. Depn. - Motor Vehicle$450.97$450.97$450.97Account Payable$8,929.00$1,775.00$2,057.00$9,211.00$9,211.00Bank Loan (due 2022)$29,083.00$29,083.00$29,083.00Accrued InterestExpense$266.59$266.59$266.59Accrued Staff Wages$310.00$310.00$310.00Capital$52,184.00$3,385.00$55,569.00$55,569.00Drawings$1,089.00$1,089.00$1,089.00Staff Wages Exp$4,650.00$4,650.00$4,650.00Motor Vehicle Exp$532.00$532.00$532.00DividendsInterest Exp$266.59$266.59$266.59Accrued InterestRevenueSundry Exp$393.00$393.00$393.00Rent Expense$771.50$771.50$771.50Cost of Goods SoldInsurance Exp$985.33$985.33$985.33Depreciation Exp$817.05$817.05$817.05Advertising Exp$2,280.00$2,280.00$2,280.00Gym Equipment$21,776.00$21,776.00$21,776.00Stationery Supplies$454.00$719.00$577.00$596.00$596.00Acc. Depn. - Gym Eqpt$366.08$366.08$366.08Squash Fees Rev$6,110.00$6,110.00$6,110.00Gym Fees Rev$4,836.00$4,836.00$4,836.00Membership Rev$4,911.00$4,911.00$4,911.00Bad and Doubtful Debts ExpenseEquipment Hire Exp$1,049.00$1,049.00$1,049.00Stationery Exp$577.00$577.00$577.00Subtotal$90,196.00$90,196.00$42,276.64$42,276.64$111,113.64$111,113.64$13,410.47$15,857.00$97,703.17$95,256.64Profit (Loss)$2,446.53$2,446.531
Financial Accounting Assignment Sample_3

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