Monetary Accounting Program Project M
Stephanie Delight Dungo
Program Number: ACCT212
Instructor: Tanya Haddad
September 27, 2012
Financial Accounting Course Job B
For Economical Accounting Study course Project B I labored on six charts, the tweaked entries, basic ledger, altered trial stability, financial assertions, closing entries, and post-closing trial stability. These are the final charts I had to finish the accounting method. After planning the path balance I actually worked on the adjusted articles for October 31st. I did calculations figure out the insurance out of date and remaining inventory of repair items. To figure out just how much the cost for starters month's insurance was, I took the one-year prepay insurance price, which is $1, 200 and divide that by a year to figure out simply how much the insurance expense was for a month, which will comes out to $100. To determine the repair supplies expenditure, I required the acquired repair items $390 and subtract the rest of the inventory $194, and I came out with the restore supplies price of $196. When I completed the altered entries, My spouse and i posted the info in the modified entries diary and journalize the tweaked entries upon October thirty first in the basic ledger and compute the adjusted balances. I adjusted the general ledger by submitting the altered entries and located the new balances. I journalized the new balances into the altered trial equilibrium for Oct 31st. The calculations were created correctly plus the accumulated total for the debit and credit harmony each other out. I used the tweaked trial stability to prepare the financial assertion. The cash flow statement, I plugged in the bicycle fix revenue of $2, 672 under the earnings and got a total revenue of $2, 672. I jotted in the bills which are: a store rent price $1, 040, utility expense $154, insurance expense hundred buck, repair supplies expense $196, depreciation expenditure $70, and income taxes charge $40. Once I put in all the...
Recommendations: Harrison Junior., W. Big t., Horngren, C. T., & Thomas, C. W. (2010). Financial Accounting. (8th, Male impotence. ) Uppr Saddle River, New Jersey: Pearson Prentice Corridor.