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Title: Accounting Cycle (Step 1 to 9)
Description: Accounting Cycle of the subject Fundamentals of Accountancy, Business, and Management 1 This includes a definition of terms and examples that will expand and create an enormous understanding of how to do the accounting cycle effectively from analyzing to post-closing trial balance..
Description: Accounting Cycle of the subject Fundamentals of Accountancy, Business, and Management 1 This includes a definition of terms and examples that will expand and create an enormous understanding of how to do the accounting cycle effectively from analyzing to post-closing trial balance..
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Cash
Notes Receivable
Accounts Receivable
Office Supplies
Land
Building
Accum
...
Equipment
Accum
...
Accounts Payable
Unadjusted Trial Balance
Credit
Debit
a
Adjustments
Credit
₱45,000
...
00
156,000
...
00
300,000
...
00
₱
₱
254,000
...
00
d
b
Service Revenues
b
Salaries Expense
Repairs Expense
Miscellaneous Expense
e
Income Statement
Debit
Credit
₱
45,000
...
00
156,000
...
00
300,000
...
00
612,000
...
00
₱
292,000
...
00
₱
450,000
...
00
2,655,000
...
00
2,150,000
...
00
213,000
...
00
213,000
...
00
2,655,000
...
00
2,655,000
...
00
2,108,000
...
00
116,000
...
00
Balance Sheet
Debit
Credit
₱
45,000
...
00
156,000
...
00
300,000
...
00
2,150,000
...
00
Total
Adjusted Trial Balance
Debit
Credit
38,000
...
00
Unearned Revenue
Jay, Capital
Jay, Withdrawal
Adjustments:
Office Supplies Expense
Depreciation Expense- Bldg
...
Accrued Salaries Expense
Interest Receivable
Interest Revenue
Doubtful Account Expense
Allowance for Doubtful Account
Debit
337,500
...
00
₱
2,445,500
...
00
14,000
...
00
116,000
...
00
₱
889,000
...
00
37,000
...
00
38,000
...
00
42,000
...
00
123,000
...
00
38,000
...
00
₱6,292,000
...
00
a
c
d
e
f
f
g
g
14,000
...
00
14,000
...
00
24,000
...
00
7,800
...
00
24,000
...
00
7,800
...
00
7,800
...
00
7,800
...
00
₱586,300
...
00
₱6,498,800
...
00
Net Income
₱2,469,500
...
00
1,216,700
...
00
1,216,700
...
00 ₱5,246,000
...
00
24,000
...
Depreciation ExpenseEquip
...
00
116,000
...
00
42,000
...
00
Jay, Capital,
Beginning
Drawing
Net Income
Jay, Capital - Ending
₱ 2,655,000
...
00
1,216,700
...
00
INCOME STATEMENT:
123,000
...
00
REVENUE-EXPENSES
1,252,800
...
00
360,000
...
00
-7,800
...
00 577,200
...
00
300,000
...
00
₱4,029,300
...
00
Accum
...
Equipment
Accum
...
-292,000
2,150,000
...
00
Total Assets
3,034,000
...
00
Liabilities and Owner's Equity
Current Liabilities
Accounts Payable
Unearned Revenue
₱
213,000
...
00
₱
14,000
...
00
Accrued Salaries Expense
Owner's Equity
Jay, Capital
Jay, Withdrawal
Net Income
₱ 2,655,000
...
00
1,216,700
...
00
₱
3,611,200
...
00
24,000
...
00
Profit and Loss Summary
31 Profit and Loss Summary
₱
1,252,800
...
00
116,000
...
00
42,000
...
00
123,000
...
00
Salaries Expense
Repairs Expense
Miscellaneous Expense
Office Supplies Expense
D
Title: Accounting Cycle (Step 1 to 9)
Description: Accounting Cycle of the subject Fundamentals of Accountancy, Business, and Management 1 This includes a definition of terms and examples that will expand and create an enormous understanding of how to do the accounting cycle effectively from analyzing to post-closing trial balance..
Description: Accounting Cycle of the subject Fundamentals of Accountancy, Business, and Management 1 This includes a definition of terms and examples that will expand and create an enormous understanding of how to do the accounting cycle effectively from analyzing to post-closing trial balance..