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adms2500 term project.pdf

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Department
Administrative Studies
Course
ADMS 2500
Professor
All Professors
Semester
Fall

Description
ADMS2500 Term project Instructor: Haiping Wang Stude:g Heng Liu Studen: ID 212183554 Part 1 charts of accounts charts of accounts Cash Equipments Owners'equity Interest expense Depreciation expense Account payable Miscellaneous Supplies Supplies expense Prepaid advertising Advertising expense Prepaid insurance Insurance expense Salary expense Taxes expense Total employer tax and contribution expense Account receivable Revenue General journal General journal debit credit Cash $60,000.00 (stock) Owners equity $60,000.00 Cash $60,000.00 Owner equity $60,000.00 (Stella & Stuart) Equipments $160,000.00 Note payable $160,000.00 Interest expense $160.00 (Sep) Account payable $160.00 Equipments $40,000.00 (scanner) Account payable $40,000.00 Depreciation expense $2,750.00 Accumulated depreciation expense $2,750.00 (depreciation) Miscellaneous $245.00 Account payable $245.00 (by Credit card) Equipments repair $20,000.00 Cash $20,000.00 supplies $3,200.00 ( at staple) Cash $3,200.00 supplies used up $155.00 (320-165) supplies $155.00 Prepaid ad $1,000.00 Cash $1,000.00 Advertising expense $250.00 Prepaid advertising $250.00 Supplies $800.00 Cash $800.00 Expense $200.00 (business cards) Supplies $200.00 Supplies used up $550.00 Supplies $550.00 Miscellaneous $361.00 (transportation) Cash $361.00 Prepaid insurance $18,000.00 Cash $18,000.00 Insurance expense $1,500.00 Prepaid insurance $1,500.00 Wages expense(from OfficeHelp) $10,800.00 Account payable $10,800.00 Salary expense $8,000.00 Salary payable $6,179.20 Total employer tax and contribution $600.00 expense Account payable $600.00 Cash $19,500.00 Unearned revenue $2,000.00 (Kanner) Account receivable $16,100.00 Revenue $33,600.00 Retained earing $10,000.00 Dividends payable $10,000.00 Income tax expense $6,000.00 Account payable $6,000.00 taxes payable $1,820.80 Total $440,171.00 $440,171.00 T-account Assets Debit Credit Cash $60,000.00 $60,000.00 $20,000.00 $1,000.00 $800.00 $361.00 $18,000.00 $19,500.00 $99,339.00 Equipments $160,000.0 0 $40,000.00 $2,880.00 $202,880.0 0 Equipments improvements $20,000.00 Accumulated Depreciation expense $2,750.00 Supplies $1,120.00 $155.00 $770.00 $215.00 Prepaid insurance $18,000.00 $1,500.00 Prepaid advertising $1,000.00 $250.00 $750.00 $16,500.00 Account receivable $16,100.00 Liabilitie s Debit Credit Note payable $160,000.00 Account payable $160.00 $40,000.00 $245.00 $2,880.00 $320.00 $10,800.00 $6,179.20 $1,820.80 $600.00 $6,000.00 $69,005.00 Unearned revenue $2,000.00 Dividends payable $10,000.00 Owners' equity Debit Credit $60,000.00 $60,000.00 $120,000.00 Interest expense $160.00 Depreciation expense $2,750.00 Miscellaneous $601.00 Supplies expense $155.00 $200.00 $550.00 $905.00 Advertising expense $250.00 Insurance expense $1,500.00 payroll $16,979.20 taxes expense $1,820.80 employer tax expense $600.00 Revenue $33,600.00 Retained earing $10,000.00 Income tax expense $6,000.00 Trail Balance Trial Balance Debit Credit Cash $99,339.00 Equipments $202,880.00 Equipments improvement $20,000.00 Accumulated depreciation expense $2,750.00 Supplies $965.00 Prepaid insurance $16,500.00 Insurance expense $1,500.00 Account payable $229,005.00 Supplies expense $905.00 Advertising expense $250.00 Owners equity $120,000.00 Interest expense $160.00 Depreciation expense $2,750.00 Unearned revenue $2,000.00 Dividends $10,000.00 Miscellaneous $606.00 Account receivable $18,100.00 Wages expense $10,80
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