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    Acr 4.2

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    ASIKIN AJA
    Lars Cleaners had various business transactions in March 2017 including borrowing $6,000, paying rent and insurance expenses, purchasing supplies, billing and collecting from customers, paying salaries, and declaring a $900 dividend. The company recorded $7,900 in service revenue and expenses included salaries of $1,750, maintenance and repairs of $350, and a $900 dividend. The trial balance at March 31, 2017 included assets of $43,150 and liabilities and equity of $43,150.

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    Acr 4.2

    Uploaded by

    ASIKIN AJA
    165 views21 pages
    Lars Cleaners had various business transactions in March 2017 including borrowing $6,000, paying rent and insurance expenses, purchasing supplies, billing and collecting from customers, paying salaries, and declaring a $900 dividend. The company recorded $7,900 in service revenue and expenses included salaries of $1,750, maintenance and repairs of $350, and a $900 dividend. The trial balance at March 31, 2017 included assets of $43,150 and liabilities and equity of $43,150.

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    ACR 4.2

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    Lars Cleaners had various business transactions in March 2017 including borrowing $6,000, paying rent and insurance expenses, purchasing supplies, billing and collecting from customers, paying salaries, and declaring a $900 dividend. The company recorded $7,900 in service revenue and expenses included salaries of $1,750, maintenance and repairs of $350, and a $900 dividend. The trial balance at March 31, 2017 included assets of $43,150 and liabilities and equity of $43,150.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    165 views21 pages

    Acr 4.2

    Uploaded by

    ASIKIN AJA
    Lars Cleaners had various business transactions in March 2017 including borrowing $6,000, paying rent and insurance expenses, purchasing supplies, billing and collecting from customers, paying salaries, and declaring a $900 dividend. The company recorded $7,900 in service revenue and expenses included salaries of $1,750, maintenance and repairs of $350, and a $900 dividend. The trial balance at March 31, 2017 included assets of $43,150 and liabilities and equity of $43,150.

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    ACR 4.

    2
    Lars Linken opened Lars Cleaners on March 1, 2017. During March, the following transactions were completed. Mar
    1 Borrowed $6,000 cash by signing a 6-month, 6%, $6,000 note payable. Interest will be paid the first day of each su
    2 Paid $1,500 cash to cover rent from March 1 through May 31.
    3 Paid $2,400 cash on a 6-month insurance policy effective March 1.
    6 Purchased cleaning supplies for $2,000 on account.
    14 Billed customers $3,700 for cleaning services performed.
    18 Paid $500 on amount owed on cleaning supplies.
    20 Paid $1,750 cash for employee salaries.
    21 Collected $1,600 cash from customers billed on March 14. 28 Billed customers $4,200 for cleaning services perfo
    31 Paid $350 for gas and oil used in truck during month (use Maintenance and Repairs Expense).
    31 Declared and paid a $900 cash dividend.
    The chart of accounts for Lars Cleaners contains the following accounts: Cash, Accounts Receivable, Supplies, Prepa
    Instructions
    (a) Journalize the March transactions.
    (b) Post to the ledger accounts. (Use T-accounts.)
    (c) Prepare a trial balance at March 31.
    (d) Journalize the following adjustments.
    1. Services performed but unbilled and uncollected at March 31 was $200.
    2. Depreciation on equipment for the month was $250.
    3. One-sixth of the insurance expired.
    4. An inventory count shows $280 of cleaning supplies on hand at March 31.
    5. Accrued but unpaid employee salaries were $1,080.
    6. One month of the prepaid rent has expired.
    7. One month of interest expense related to the note payable has accrued and will be paid April 1.
    (e) Post adjusting entries to the T-accounts.
    (f) Prepare an adjusted trial balance.
    (g) Prepare the income statement and a retained earnings statement for March and a classified balance sheet at M
    (h) Journalize and post closing entries and complete the closing process.
    (i) Prepare a post-closing trial balance at March 31.
    sactions were completed. Mar. 1 Issued 10,000 shares of common stock for $15,000 cash.
    be paid the first day of each subsequent month. 1 Purchased used truck for $8,000 cash.

    200 for cleaning services performed.

    nts Receivable, Supplies, Prepaid Insurance, Prepaid Rent, Equipment, Accumulated Depreciation—Equipment, Accounts Payable, Salaries

    paid April 1.

    classified balance sheet at March 31.


    nt, Accounts Payable, Salaries and Wages Payable, Notes Payable, Interest Payable, Common Stock, Retained Earnings, Dividends, Income
    d Earnings, Dividends, Income Summary, Service Revenue, Maintenance and Repairs Expense, Supplies Expense, Depreciation Expense, Ins
    nse, Depreciation Expense, Insurance Expense, Salaries and Wages Expense, Rent Expense, and Interest Expense.
    PENDAPATAN BIAYA
    PENDAPATAN BIAYA
    1
    2
    3
    4
    5
    6
    7
    8
    9
    10
    11
    12
    13
    14
    15
    16
    17
    18
    19
    20
    21
    22
    23
    24
    101 Kas
    112 Piutang Usaha
    108 Sewa di Bayar di Muka
    109 Asuransi di Bayar di Muka
    126 Perlengkapan
    113 Kendaraan
    114 Akumulasi Depresiasi Peralatan
    201 Utang Usaha
    202 Utang Bunga
    203 Utang Gaji dan Upah
    204 Utang Wesel
    311 Modal Saham
    312 Laba di Tahan
    313 Deviden
    400 Pendapatan Jasa
    721 Biaya Gaji dan Upah
    722 Biaya Perbaikan dan Reparasi
    723 Biaya Depresiasi
    724 Biaya Asuransi
    725 Biaya Perlengkapan
    726 Biaya Sewa
    727 Biaya Bunga

    723Biaya Perlengkapan

    dfs
       Ledger
    Accounts

    Cash     
    1-Mar
    15,000
    1-Mar
    8,000
    1-Mar
    6,000
    2-Mar
    1,500
    21-Mar
    1,600
    3-Mar
    2,400

    18-Mar
    500

    20-Mar
    1,750

    31-Mar
    350

    31-Mar
    900

    31-Mar
    7,200
    Common
    Stock

    1-Mar
    15,000
    31-Mar
    15,000
    Notes
    Payable

    1-Mar
    6,000

    31-Mar
    6,000

    Equipme
    nt-Truck

    1-Mar
    8,000

    31-Mar
    8,000

    Prepaid
    Rent
    2-Mar
    1,500
    31-Mar
    1,500

    Prepaid
    Insuranc
    e
    3-Mar
    2,400

    31-Mar
    2,400

    Supplies
    Inventory

    6-Mar
    2,000

    31-Mar
    2,000

    Accounts
    Payable

    18-Mar
    500
    6-Mar
    2,000
    31-Mar
    1,500

    Accounts
    Receivab
    le

    14-Mar
    3,700
    21-Mar
    1,600
    28-Mar
    4,200

    31-Mar
    6,300

    Service
    Revenue

    14-Mar
    3,700

    28-Mar
    4,200

    31-Mar
    7,900
    Salaries
    Expense
    s
    20-Mar
    1,750

    31-Mar
    1,750

    Maintena
    nce and
    Repair
    expense
    s

    31-Mar
    350

    31-Mar
    350

    Dividend
    31-Mar
    900

    31-Mar
    900

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