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  • 1. General Journal J1Date Particulars Ref. No. Debit Credit31-Dec Supplies expense 2765 Supplies 2765 To record Supplies used31-Dec Interest Expense 92.85 Interest Payable 92.85 To accrue interest on note payable31-Dec Insurance Expense 925 Prepaid Insurance 925 To record insurance expired31-Dec Unearned Revenue 5100 Service Revenue 5100 To record service revenue31-Dec Depreciation Expense 1614.58 Accumulated Depreciation-Equipment 1614.58 To record six months Depreciation31-Dec Utilities Expense 225 Utilities Payable 225 To make utilities expense due31-Dec Prepaid Rent 575 Rent Expense 575 To record rent paid in advance
  • 2. Akashdeep Singh Student Number Id: 300734408Assignment Number # 1 Professor: Mr. AbdulSubject: Accounting 112
  • 3. Account Name Adjusted Trial Balance Income Statement Balance Sheet Debit Credit Debit Credit Debit CreditCash 7,250 2765Accounts Receivable 7,450Supplies 585Prepaid Insurance 1295Prepaid Rent 575Equipment 46500Accumulated Dep. 1615Note payable 25000Accounts payable 6415Interest payable 34500Unearned graphics fees 1400J.bejar , Capital 250 28975J.bejar , Drawings 17400 17400Graphics fees earned 61,125 61125Utilities expense 1615 1965Insurance expense 925 925Interest expense 250 250Rent expense 3450 3450Salaries expense 1965 38280Supplies expense 2765Depreciation expense 38,280 1615Profit 11875 11875Investment 34500 130,305 130,305 61125 61125 46375 46375TOTAL
  • 4. Account Name Adjusted Trial Balance Income Statement Balance Sheet Debit Credit Debit Credit Debit CreditPrepaid Rent 575Accounts Receivable 7,450Depreciation expense 38,280 1615Prepaid Insurance 1295Cash 7,250 2765Equipment 46500Accumulated Dep. 1615Note payable 25000Accounts payable 6415Interest payable 34500Unearned graphics 1400feesJ.bejar , Capital 250 28975J.bejar , Drawings 17400 17400Graphics fees earned 61,125 61125Utilities expense 1615 1965Insurance expense 925 925Interest expense 250 250Rent expense 3450 3450Salaries expense 1965 38280Supplies expense 2765Supplies 585Profit 11875 11875Investment 34500TOTAL 130,305 130,305 61125 61125 46375 46375

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