This is the trial balance of Mimosa Company on September 30

P3-6A This is the trial balance of Mimosa Company on September 30.

MIMOSA COMPANY
Trial Balance
September 30, 2012
Debit Credit
Cash $ 8,200
Accounts Receivable 2,600
Supplies 2,100
Equipment 8,000
Accounts Payable $ 4,800
Unearned Service Revenue 1,100
Common Stock 15,000
$20,900 $20,900

The October transactions were as follows.
Oct. 5 Received $1,300 in cash from customers for accounts receivable due.
10 Billed customers for services performed $5,100.
15 Paid employee salaries $1,200.
17 Performed $600 of services for customers who paid in advance in August.
20 Paid $1,900 to creditors for accounts payable due.
29 Paid a $300 cash dividend.
31 Paid utilities $400.

Instructions
(a) Prepare a general ledger using T accounts. Enter the opening balances in the ledger accounts as of October 1. Provision should be made for these additional accounts: Dividends, Service Revenue, Salaries and Wages Expense, and Utilities Expense.
(b) Journalize the transactions, including explanations.
(c) Post to the ledger accounts.
(d) Prepare a trial balance on October 31, 2012.

Click here for the solution: This is the trial balance of Mimosa Company on September 30

Disney Amusement Park, Inc. has a fiscal year ending on September 30

P4-4A Disney Amusement Park, Inc. has a fiscal year ending on September 30. Selected data from the September 30 worksheet are presented below.

DISNEY AMUSEMENT PARK, INC.
Worksheet
For the Year Ended September 30, 2008
Adjusted
Trial Balance Trial Balance
Dr. Cr. Dr. Cr.
Cash 41,400 41,400
Supplies 18,600 1,200
Prepaid Insurance 31,900 8,900
Land 80,000 80,000
Equipment 120,000 120,000
Accumulated Depreciation 36,200 42,200
Accounts Payable 14,600 14,600
Unearned Admissions Revenue 3,700 2,000
Mortgage Note Payable 50,000 50,000
Common Stock 100,000 100,000
Retained Earnings 9,700 9,700
Dividends 14,000 14,000
Admissions Revenue 277,500 279,200
Salaries Expense 105,000 105,000
Repair Expense 30,500 30,500
Advertising Expense 9,400 9,400
Utilities Expense 16,900 16,900
Property Taxes Expense 18,000 21,000
Interest Expense 6,000 10,000
Totals 491,700 491,700
Insurance Expense 23,000
Supplies Expense 17,400
Interest Payable 4,000
Depreciation Expense 6,000
Property Taxes Payable 3,000
Totals 504,700 504,700

Instructions
(a) Prepare a complete worksheet.
(b) Prepare a classified balance sheet. (Note: $10,000 of the mortgage note payable is due for payment in the next fiscal year.)
(c) Journalize the adjusting entries using the worksheet as a basis.
(d) Journalize the closing entries using the worksheet as a basis.
(e) Prepare a post-closing trial balance.

Click here for the solution: Disney Amusement Park, Inc. has a fiscal year ending on September 30

Prepare a table with the following headings for a monthly bank reconciliation dated September 30

ACC 225 Week 8

Exercise 8-6

Prepare a table with the following headings for a monthly bank reconciliation dated September 30:

For each item 1 through 12, place an x in the appropriate column to indicate whether the item should be added to or deducted from the book or bank balance, or whether it should not appear on the reconciliation. If the book balance is to be adjusted, place a Dr. or Cr. in the Adjust column to indicate whether the Cash balance should be debited or credited. At the left side of your table, number the items to correspond to the following list.

1. Bank service charge.
2. Checks written and mailed to payees on October 2.
3. Checks written by another depositor but charged against this company’s account.
4. Principal and interest on a note collected by the bank but not yet recorded by the company.
5. Special bank charge for collection of note in part 4 on this company’s behalf.
6. Check written against the company’s account and cleared by the bank; erroneously not recorded by the company’s recordkeeper.
7. Interest earned on the cash balance in the bank.
8. Night deposit made on September 30 after the bank closed.
9. Checks outstanding on August 31 that cleared the bank in September.
10. NSF check from customer returned on September 25 but not yet recorded by this company.
11. Checks written by the company and mailed to payees on September 30.
12. Deposit made on September 5 and processed by the bank on September 6.


Click here for the solution: Prepare a table with the following headings for a monthly bank reconciliation dated September 30

This is the trial balance of Slocombe Company on September 30

P3-6A This is the trial balance of Slocombe Company on September 30.

SLOCOMBE COMPANY
Trial Balance
September 30, 2010
Debit Credit
Cash $8,300
Accounts Receivable 2,600
Supplies 2,100
Equipment 8,000
Accounts Payable $ 5,100
Unearned Revenue 900
Common Stock 15,000
$21,000 $21,000

The October transactions were as follows.
Oct. 5 Received $1,300 in cash from customers for accounts receivable due.
10 Billed customers for services performed $5,100.
15 Paid employee salaries $1,400.
17 Performed $600 of services for customers who paid in advance in August.
20 Paid $1,500 to creditors for accounts payable due.
29 Paid a $300 cash dividend.
31 Paid utilities $500.

Hint: Journalize transactions, post, and prepare a trial balance.

Instructions
(a) Prepare a general ledger using T accounts. Enter the opening balances in the ledger accounts as of October 1. Provision should be made for these additional accounts: Dividends, Service Revenue, Salaries Expense, and Utilities Expense.
(b) Journalize the transactions, including explanations.
(c) Post to the ledger accounts.
(d) Prepare a trial balance on October 31, 2010.

Check:
Cash $ 5,900
Tot. trial balance $24,600

Click here for the solution: This is the trial balance of Slocombe Company on September 30