musical sensations
work sheet
deceber 31, 2020
unadjusted trial balance adjustments
account debit credit debit
cash $ 7,500.00
accounts receivable $ 14,200.00
office supplies $ 790.00
musical equipment $ 125,000.00
accumulated depreciation, musical equipment $ 21,600.00
accounts payable $ 4,200.00
unearned performance revenue $ 12,400.00 a. 3175
jim daley, capital $ 154,300.00
jim daley, withdrawls $ 52,000.00
performance revenue $ 138,000.00
salaries expense $ 86,000.00 c. 6100
travelling expense $ 45,010.00
totals $ 330,500.00 $ 330,500.00
office supplies expense d. 650
salaries payable
decpreciation expense, musical equipment b. 21600
totals $ 31,525.00
loss
totals
musical sensations
work sheet
deceber 31, 2020
balance sheet & statement
adjustments adjusted trial balance income statement
changes in equity
credit debit credit debit credit debit credit
$ 7,500.00 $ 7,500.00
$ 14,200.00 $ 14,200.00
d. 650 $ 140.00 $ 140.00
$ 125,000.00 $ 125,000.00
b. 21600 $ 43,200.00 $ 43,200.00
$ 4,200.00 $ 4,200.00
$ 9,225.00 $ 9,225.00
$ 154,300.00 $ 154,300.00
$ 52,000.00 $ 52,000.00
a. 3175 $ 141,175.00 $ 141,175.00
$ 92,100.00 $ 92,100.00
$ 45,010.00 $ 45,010.00
d. 650 $ 650.00
c. 6100 c. 6100 c. 6100
b. 21600 $ 21,600.00
$ 31,525.00 $ 358,200.00 $ 358,200.00 $ 159,360.00 $ 141,175.00 $ 198,840.00 $ 217,025.00
$ 18,185.00 $ 18,185.00
$ 159,360.00 $ 159,360.00 $ 217,025.00 $ 217,025.00
2020 closing entries: debit credit
dec 31 plumbing revenue $ 41,050.00
income summary $ 41,050.00
to close revenue account to income summary
31 income summary $ 31,800.00
depreciation expense, trucks $ 4,700.00
salaries expense $ 17,600.00
rent expense $ 2,800.00
advertising expense $ 6,700.00
to close expense accounts to income summary
31 income summary $ 9,250.00
angel zhang, capital $ 9,250.00
to close income summary to owner's capital account
31 angel zhang, capital $ 9,400.00
angel zhang, withdrawls $ 9,400.00
to close owner's withdrawls to capital
zhang co.
post-closing trial balance
april 30, 2020
Acct No. account debit credit
101 cash $ 3,400.00
106 accounts receivable $ 8,300.00
153 trucks $ 25,000.00
154 accumulated depreciation, trucks $ 8,050.00
193 franchise $ 13,000.00
201 accounts payable $ 9,400.00
209 salaries payable $ 3,000.00
233 unearned revenue $ 1,300.00
301 angel zhang, capital $ 27,950.00
totals $ 49,700.00 $ 49,700.00
annual adjusting entries
date title and explaination pr
2020
dec. 31 unearned revenue
revenue
to record unearned revenue now earned
dec 31 depreciation expense, building
accumulated depreciation, building
to record depreciation expenses on building
dec 31 spare parts expense
spare parts inventory
to record use of spare parts inventory
dec 31 accounts receivable
service revenue
to record revenue uncollected
dec 31 utilities expense
accounts payable
to record utilities expense
2021
jan 04 cash
accounts receivable
to record collection of accured revenue
jan 14 accounts payable
cash
to record payment of accured ultilities
monthly adjusting entries
2020
sept 30 interest expense
interest payable
to record accrued interest expense(60000*5%/12)
sept 30 unearned revenue
revenue
to record earned revenue
sept 30 supplies expense
supplies
to record use of supplies
sept 30 depreciatiion expense, refrige
accumulated depreciation, refrige
to record depreication expense on refrige
sept 30 account receivable
revenue
to record accured revenue
sept 30 salaries expense
salaries payable
debit credit
$ 15,450.00
$ 15,450.00
$ 14,600.00
$ 14,600.00
$ 220.00
$ 220.00
$ 14,600.00
$ 14,600.00
$ 2,100.00
$ 2,100.00
$ 14,600.00
$ 14,600.00
$ 2,100.00
$ 2,100.00
$ 250.00
$ 250.00
$ 10,000.00
$ 10,000.00
$ 4,000.00
$ 4,000.00
$ 40.00
$ 40.00
$ 9,350.00
$ 9,350.00
$ 2,160.00
$ 2,160.00
