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Accounting Transactions Summary

The document outlines various financial transactions including prepaid rent, equipment purchases, and revenue recognition. It details expenses such as depreciation, salaries, and bad debts, along with adjustments for unearned revenue and accounts receivable. Overall, it provides a snapshot of cash inflows and outflows, inventory management, and expense tracking for a specific period.

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mkhanhpham13
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25 views2 pages

Accounting Transactions Summary

The document outlines various financial transactions including prepaid rent, equipment purchases, and revenue recognition. It details expenses such as depreciation, salaries, and bad debts, along with adjustments for unearned revenue and accounts receivable. Overall, it provides a snapshot of cash inflows and outflows, inventory management, and expense tracking for a specific period.

Uploaded by

mkhanhpham13
Copyright
© All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd

1/1 Prepaid Rent 2,000

Cash 2,000
2/1 Equipment 6,000
Cash 6,000
Inventory 800
Cash 800
10/1 Cash 4000
Unearned Revenue 4000
5/3 Supplies 150
Cash 150
4/6 Inventory 1200
Cash 1200
6/5 COGS 600
Accounts Receivable 6000
Sales Revenue 6000
Inventory 600
16/5 Cash 6000
Accounts Receivable 6000
1/7 Depreciation Expense 2,000
Accumulated Depreciation
1/7 Cash 3000
Accumulated Depreciation 38000
Gain on sale of equipment 1000
Equipment 40000
10/11 Allowance for Doubtful Accounts 260
Accounts Receivable 260
31/12 Salary Expense 1000
Cash 1000
31/12 Supplies Expense 20
Supplies 20
Bad debt Expense 300
Allowance for Doubtful Accounts 300
Rent Expense 1000
Prepaid Rent 1000
Depreciation Expense 1200
Accumulated Depreciation 1200
Unearned Revenue 2000
Service Revenue 2000
Sales 6000
Services Revenue 2000
Gain 1000
COGS 600
Depreciation Expense 3200
Rent Expense 1000
Salary Expense 1000
Supplies Expense 20
Bad debt Expense 300
Retained Earning 2880

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