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by: Miss Alexandrine Ortiz


Miss Alexandrine Ortiz
Texas State
GPA 3.62


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About this Document

Class Notes
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This 4 page Class Notes was uploaded by Miss Alexandrine Ortiz on Wednesday September 23, 2015. The Class Notes belongs to ACC 3313 at Texas State University taught by Staff in Fall. Since its upload, it has received 10 views. For similar materials see /class/212878/acc-3313-texas-state-university in Accounting at Texas State University.

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Date Created: 09/23/15
41 N U UI v V V E 3 1 Cash 30000 412 Cash 3200 Equipment 14000 Uneamed Service Revenue 3200 Capital 44000 417 Cash 2300 salanes EXpense 1 160 Service Revenue 2300 Cash 1160 421 Insurance Expense 110 Supplies Expense 700 Cash 110 Accounts Payable 700 430 Salaries Expense 1160 Of ce Rent Expense 600 Cash 1160 Cash 600 430 Salaries Expense 120 Accounts Receivable 1100 Supplies 120 Service Revenue 1100 430 Equipment 5100 Capital 5100 E 3 5 Depreciation expense 750 Accumulated Depreciation 750 Uneamed Rent Revenue 2100 Rent Revenue 2100 Interest Expense 500 Interest Payable 500 Supplies Expense 2150 Supplies 2150 Insurance Expense 900 Prepaid Insurance 900 E 3 6 Accounts Receivable 750 Service Revenue 750 Utilities Expense 520 Utilities Payable 520 Depreciation Expense 400 Accumulated DepreciationDental Equipment 400 500 500 Interest Expense Interest Payable 4 Insurance Expense 15000 Prepaid Insurance 15000 5 Supplies Expense 1200 Supplies 1200 3 11 A Income Statement For the Month Ended December 312010 Revenues Service Revenue 12590 Expenses Salaries Expense 6840 Rent Expense 2760 Depreciation Expense 145 Interest Expense 83 Total Expenses 9 828 Net Income 2 762 13 Retained Earnings Statement For the Month Ended December 31 2010 Retained Earnings December 1 11310 Add Net Income 2 762 14072 Less Dividends 3 000 Retained Earnings December 31 11 072 C Balance Sheet December 31 2010 Assets Cash 18972 Accounts Receivable 6920 Prepaid Rent 2280 Equipment 18050 Less Accumulated Depreciation 4 895 13 155 Total Assets 41 327 Liabilities and Stockholders Equity Liabilities Notes Payable 5700 Accounts Payable 4472 Interest Payable 83 Total Liabilities 1025 5 Stockholders Equity Common Stock 20000 Retained Earnings 11 072 Total Stockholders Equity 41 327 E 3 16 Sales 363000 Income Summary 363000 Income Summary 84000 Selling Expense 16000 Administrative Expense 38000 Income Tax Expense 30000 Income Summary 45000 Retained Earnings 45000 Retained Earnings 18000 DiVidends 18000 E 3 17 31 Cash 60000 Common Stock 60000 Issued shares of stock for cash 33 Buildings 22000 Land 10000 Equipment 6000 Cash 38000 Bough Golf Land with cash Golf Land is 3 separate Asset accounts 35 Advertising Expense 1600 Cash 1600 Paid for advertising with cash 36 Prepaid Insurance 1480 Cash 1480 Paid cash for a full year of insurance 310Equipment 2500 Accounts Payable 2500 Received equipment but recognizing that it hasn t been paid for yet 318Cash 1200 Service Revenue 1200 Recognizing that cash has been received for services performed 325Dividends 1000 Cash 1000 Paid for dividends when declared 330Wages Expense 900 Cash 900 330Accounts Payable 2500 Cash 2500 Recognizing that the golf equipment has been paid in cash 331Cash 750 Service Revenue 750 Recognizing that cash has been received


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