Show:
Chapter 1,2,3
Chapter 4,5,6
Chapter 7,8,9
Chapter 10,11,12
Chapter 13,14,15,16
100
Received Cash from owner as an investment
Dr: Cash Cr: Capitol
100
Paid Cash to establish petty cash fund
Dr: Petty Cash Cr: Cash
100
Closing Sales:
Dr: Sales Cr: Capitol
100
Paid Cash for Payroll:
Dr: Salary Expense (total of 'payable accounts' Cr: Employee Income Tax payable, social security tax payable, medicare tax payable, health insurance tax payable, US savings bond payable, United Ways Payable, and cash
100
Adjusting Uncollectable Accounts
Dr: Uncollectable Accounts Expense Cr: Allowance for Uncollectable Accounts
200
Sold Services on accound to Kids Time
Dr: AR Kid's Time Cr: Sales
200
Adjustment to Supplies
Dr: Supplies Expense Cr:Supplies
200
Closing Expense Accounts:
Dr: Capitol (total of all expense accounts) Cr: each expense account
200
paid cash for federal unemployment tax liability
Dr: Unemployment tax payable- Federal Cr: cash
200
Determining Capitol Shares Expense
Multiply the par value (amount of $ per share) by the amount of shares issued.
300
Paid Cash for rent
Dr: Rent Expense Cr: Cash
300
Adjustment to Insurance
Dr: Insurance Expense Cr: Prepaid Insurance
300
Close Drawing Account:
Dr: Capitol Cr: Drawing
300
Adjustment for merchandise inventory
Dr: Income Summary Cr: Merchandise Inventory
300
Determining Earning per share
divide the number of shares outstanding by the net income after federal income tax.
400
Received Cash from sales
Dr: Cash Cr: Sales
400
Paid Cash to Replenish petty cash fund
Dr: Miscellaneous Expense Dr: Advertising expense Cr: Cash (total of misc. exp. + advertising exp.)
400
Purchase merchandise for cash:
Dr: purchases Cr: cash
400
Paid Cash on account less 2% discount
Dr: AP (total of both credits) Cr: Purchase Discount Cr: Cash
400
Determine the price-earnings ratio
divide the earnings per share by the market price per share
500
Paid Cash to Owner for personal use
Dr: Drawing Cr: Cash
500
Received Bank Statement showing bank service charge
Dr: Miscellaneous Expense Cr: Cash
500
Purchase Merchandise on account
Dr: Purchases Cr: AP
500
Returned Merchandise
Dr: AP Cr: Purchases Returns and Allowances
500
Determining the annual depreciation expense
take the original cost and subtract the estimated salvage value. Then take that total dividing the number of years of the estimated useful life.