ACCT100 - J.Miller Design Studio Ch4 Comprehensive Problem Solution
Question # 00013463
Posted By:
Updated on: 04/25/2014 03:58 PM Due on: 05/12/2014
| Chart of Accounts | |
| Cash | 111 |
| Accounts Receivable | 113 |
| Office Supplies | 115 |
| Prepaid Rent | 117 |
| Office Equipment | 145 |
| Accumulated Depreciation - Office Equipment | 146 |
| Accounts Payable | 212 |
| Unearned Design Revenue | 213 |
| Wages Payable | 214 |
| J. Miller, Capital | 311 |
| J. Miller, Withdrawals | 312 |
| Income Summary | 313 |
| Design Revenue | 411 |
| Wages Expense | 511 |
| Utilities Expense | 512 |
| Rent Expense | 514 |
| Office Supplies Expense | 517 |
| Depreciation Expense - Office Equipment | 519 |
| Cash investment by J. Miller |
| For design services performed for Rave Department Stores |
| Paid amount due for utility bill received and recorded in July |
| Paid assistant four weeks' wages |
| Paid for office equipment purchased in July |
| Paid September rent in advance |
| Paid utilities bill for August |
| Purchased office equipment |
| Purchased office supplies |
| Received advance fee for design services |
| Received cash payment for design services |
| Received payment for design services performed last month |
| To accrue unrecorded wages |
| To close the expense accounts into the income summary account |
| To close the income summary account |
| To close the revenue account into the income summary account |
| To close the withdrawals account |
| To recognize expiration of one month's rent |
| To recognize office supplies used during the month |
| To recognize performance of services paid for in advance |
| To record depreciation of equipment for the month |
| To record revenue earned, but not billed until September |
| To reverse the adjusting entry for accrued design revenue earned |
| To reverse the adjusting entry for accrued wages |
| Withdrawal of cash by J. Miller |
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Rating:
/5
Solution: ACCT100 - J.Miller Design Studio Ch4 Comprehensive Problem Solution