ACCT 2010Ch03 by Iskandar Khusanov; 2T.xlsx

Student Name: Iskandar Khusanov
Class: 2T
Problem 03-32B


Requirement a. Requirement b.
PRICE CORPORATION PRICE CORPORATION
General Journal, Year 1 Account T-Accounts, Year 1
Event Titles Debit Credit Assets=Liabilities+ Stockholders' Equity
Jan. 1 Cash 25,000 Common Stock
Cash Accounts Payable
Common Stock
25,000 Jan 1 25,000 Mar 1 8,400 Jul 5 300 Apr 400 Jan 1. 25,000
Correct! June 3 12,000 Jul 5 14.
Aug 8 1,600 ept 1 300 Bal 100
Correct! Correct! Bal 25,000
Mar.1 Prepaid 8,40 18,00
Sept 4,250 Nov 2 Unearned Revenue Retained Earnings
Rent Cash 0 8,400 0
Bal 15,650 6,000 June 3012,000 Bal-
Correct!
Correct! 500 Dec 3 Correct!
Apr.1 Supplies 400 Bal 6,000
4 Accounts Payable 400 Accounts Receivable Correct!
Correct! Aug 14,800 Salaries Payable Dividends
June 30 Cash 12,00 Oct 5 17,000 Sept 9 4,25 Dec 31 1,100 Nov 2500
Unearned Revenue 0 Bal 17,550 0 Bal 1,100 Bal500
12,000 Correct!
Correct! Correct! Correct!
Supplies Service Revenue
July 5 Accounts 300 50 Aug 84,800
Payable Cash 300 Dec 3 50 Sept 11,600
Correct! Bal Correct! Oct 5. 17,000
Prepaid Rent Dec 316,000
Aug. Accounts 4,80
1 Receivable Service 0 4,80
Revenue 0
Correct! Mar 8,400 ec 3 3,500 Bal 29,400
1
Aug. 8 Cash 1,600 Bal 4,900 Correct!
Service Revenue 1,600 Correct! Rent Expense
Correct! Mar 8,400 ec 4,900
1. Correct! 31
Cash 18,000
Sept. 1 Salaries Expense 18,000 Correct! Bal 3,500 Expense
Salaries


Cash 4,250 Sept 1
Dec
31
Service 17,000 Bal Supplies Expense
RevenueReceivable 17,000
Correct!
Apr 14 400 ec 31 350 50
Correct!
Nov. 2 Dividend 500 Bal
s 500
Cash Correct!

Adjusting Entries
Dec. Unearned 6,00
31 Revenue 0 6,000
Service Revenue Correct!

Dec. Salaries Expense 1,10
31 Salaries Payable 0 1,100
Correct!

Dec. Rent Expense 3,50
31 Prepaid Rent 0 3,500
Correct!

Dec. Supplies 350
31 Expense 350
Supplies Correct!

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