Unit 7 Handout 1: Worksheet Assignment Name: BMA 152 Bookkeeping Fundamentals I Worksheet Assignment Directions: Please complete the following problem: 1. Company A has the following unadjusted trial balance. Write out the following three adjusting journal entries and complete the Company A Worksheet below. Fill out the appropriate account name and transaction description for each chart. For the Debit and Credit columns, determine which data entry is to be Debit or Credit and fill out appropriately. Complete this assignment by the end of Unit Nine, 11:55 p. m. PST. a.
Company A counts its supplies at the end of the month and finds that it only has $250 worth of supplies remaining on October 31, 2010. Date Account name & Transaction description Debit Credit b. Company A receives a payment from Customer XYZ on October 31, 2010 for $2,000 for Customer XYZ’s outstanding receivable. Date Account name & Transaction description Debit Credit c. Company A received an invoice from the electric company covering the month of October for $85 and an invoice related to shipping for $200, but Company A did not pay these invoices by October 31, 2010. Date
Account name & Transaction description Debit Credit Unit 7 Handout 1: Worksheet Assignment Company A Worksheet For Month Ended October 31, 2010 Unadjusted Trial Balance Debit Cash Adjustments Credit Debit Adjusted Trial Balance Credit Debit Credit Income Statement Debit Credit Balance Sheet Debit Credit 2,800. 00 350. 00 4,310. 00 Accounts Payable 600. 00 Accrued Liabilities Product Sales 5,500. 00 Supplies Accounts Receivable Utilities Expense Supplies Expense Shipping Expense 40. 00 Equity (Capital) 1,400. 00 7,500. 00 7,500. 00 Net Income Total Instructor’s Feedback:
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