Académique Documents
Professionnel Documents
Culture Documents
GENERAL JOURNAL Account Titles and Explanation Adjusting Entries Aug. 31 Insurance Expenditure Insurance Prepayment (To record insurance expired: $400 per month) 31 Materials Expenditure Materials (To document materials used) 31 Wear and tear Expenditure Accumulated Wear and tear-Furnishings (To record monthly wear and tear) 31 Wear and tear Expenditure Accumulated Wear and tear-Bungalows (To document monthly wear and tear) 31 Unearned Rent Rent Revenue (To record revenue for rentals provided) 31 Accounts Receivable Rental Revenue (To record revenue for rentals provided) 31 Interest Expenditure Interest Payable (To document interest on loan) 31 Wages Expenditure Wages Payable (To record accrued wages)
Debit 1,200.00
631 126
2,700.00 2,700.00
3,300-600 = 2,700
621 150
600.00 600.00
620 144
1,500.00 1,500.00
208 429
4,100.00 4,100.00
112 429
1,000.00 1,000.00
718 230
600.00 600.00
729 212
400.00 400.00
GENERAL LEDGER No. 101 Balance Date 19,600.00 Aug. 31 No. 112 Balance 1,000.00 No. 126 Balance 3,300.00 600.00 No. 130 Balance 6,000.00 4,800.00 No. 140 Balance 25,000.00 No. 143 Balance 125,000.00 No. 144 Balance 1,500.00 No. 149 Balance 26,000.00 No. 150 Balance 600.00 No. 201 Balance 6,500.00 No. 208 Balance 7,400.00 3,300.00 No. 212 Balance 400.00 No. 230 Balance 600.00
Description
Mortgage Payable Ref. Debit J1 Common Stock Ref. Debit J1 Retained Earnings Ref. Debit
Credit 80,000.00
No. 275 Balance 80,000.00 No. 311 Balance 100,000.00 No. 320 Balance
Date Aug. 31
Credit
Date Aug. 31
Description
Credit 100,000.00
Date Aug. 31 31
Credit 2,700.00
Date 2008
Description
Credit
Date Aug. 31 31
Prepaid Insurance Explanation Ref. Debit J1 6,000.00 Adj. entry J2 Property Ref. Debit J1 25,000.00 Bungalows Ref. Debit J1 125,000.00
Credit 1,200.00
Date Aug. 31
Description
Credit
No. 332 Balance 5,000.00 No. 429 Balance 80,000.00 84,100.00 85,100.00 No. 620 Balance 1,500.00 No. 621 Balance 600.00 No. 622 Balance 3,600.00 No. 631 Balance 2,700.00 No. 718 Balance 600.00 No. 722 Balance 1,200.00 No. 726 Balance 51,000.00 51,400.00 No. 732 Balance 9,400.00
Date Aug. 31
Explanation
Credit
Date Aug. 31 31 31
Date Aug. 31
Explanation
Credit
Date Aug. 31
Wear and tear Expendsiture-Bungalows Explanation Ref. Debit Credit Adj. entry J2 1,500.00 Wear and tear Expenditure-Furnishings Explanation Ref. Debit Credit Adj. entry J2 600.00 Wear and tear Expenditure Explanation Ref. Debit J1 3,600.00 Materuials Expenditure Explanation Ref. Debit Adj. entry J2 2,700.00 Interest Expenditure Explanation Ref. Adj. entry J2 Insurance Expenditure Explanation Ref. Adj. entry J2 Wages Expenditure Explanation Ref. J1 Adj. entry J2 Amenities Expenditure Explanation Ref. J1
Date Aug. 31
Accumulated Wear and tear - Bungalows Explanation Ref. Debit Adj. entry J2 Furnishings Ref. Debit J1 26,000.00
Credit 1,500.00
Date Aug. 31
Date Aug. 31
Explanation
Credit
Date Aug. 31
Credit
Date Aug. 31
Accumulated Wear and tear - Furnishings Explanation Ref. Debit Adj. entry J2 Accounts Payable Ref. Debit J1 Unearned Rent Ref. Debit J1 J2 4,100.00 Wages Payable Ref. Debit J2 Interest Payable Ref. Debit J2
Credit 600.00
Date Aug. 31
Credit
Date Aug. 31
Explanation
Credit 6,500.00
Date Aug. 31
Debit 600.00
Credit
Date Aug. 31 31
Credit 7,400.00
Date Aug. 31
Debit 1,200.00
Credit
Date Aug. 31
Credit 400.00
Date Aug. 31 31
Credit
Date Aug. 31
Credit 600.00
Date Aug. 31
Debit 9,400.00
Credit
Neosho River Resort, Inc. Adjusted Trial Balance August 31, 2008 Account Number 101 Cash 112 Accounts Receivable 126 Materials 130 Prepaid Insurance 140 Property 143 Bungalows 144 Accumulated Wear and tear - Bungalows 149 Furnishings 150 Accumulated Wear and tear - Furnishings 201 Accounts Payable 208 Unearned Revenue 212 Wages Payable 230 Interest Payable 275 Loan Payable 311 Usual Inventory 320 Saved Earnings 332 Payouts 429 Service Revenue 620 Wear and tear Expenditure - Bungalows 621 Wear and tear Expenditure - Furnishings 622 Repair Expenditure 631 Materials Expenditure 718 Interest Expenditure 722 Insurance Expense 726 Wages Expenditure 732 Amenities Expenditure Debit $19,600.00 1,000.00 600.00 4,800.00 25,000.00 125,000.00 26,000.00
5,000.00 1,500.00 600.00 3,600.00 2,700.00 600.00 1,200.00 51,400.00 9,400.00 $278,000.00
Credit
$278,000.00
Neosho River Resort, Inc. Income Statement For the month ended August 31, 2008 Revenues Service revenue Expenditures Wages expenditure Advertising materials expenditure Repair Expenditure Interest Expenditure Insurance Expenditure Amenities Expenditure Wear and tear expenditure Total expenditures Net income
85,100.00
71,000.00 $14,100.00
Neosho River Resort, Inc. Retained Earnings Statement For the month ended August 31, 2008 Retained Earnings, June 1 Add: Net Income $$14,100.00 $14,100.00 $5,000.00 $9,100.00
Neosho River Resort, Inc. Balance Sheet August 31, 2008 Account Cash Accounts Receivables Materials Prepaid Insurance Property Bungalows Less: Acc. Wear and tear Bungalows Furnishings Less: Acc. Wear and tear Furnishings Total Assets Debit
Debts and Stockholder's Equity Debts Accounts Payable Unearned Revenue Loan Payable Wages Payable Interest Payable Total Debts Stockholder's Equity Usual Inventory Saved Earnings Total Debts and Stockholder's Equity