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    Accounting Cycle Excel Template 2

    Uploaded by

    Islam Samir
    1) The general journal records transactions from December 1-31 including the issuance of common stock, purchases of various assets and expenses, and revenue from services. 2) The adjusted trial balance organizes account balances after adjusting entries are made for expenses and prepaid items at December 31. 3) Key financial statements are generated from the adjusted trial balance including an income statement showing net income of $7,140 for the month, statement of stockholders' equity, and classified balance sheet with assets of $14,270 and liabilities of $130.

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    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd

    Accounting Cycle Excel Template 2

    Uploaded by

    Islam Samir
    99 views11 pages
    1) The general journal records transactions from December 1-31 including the issuance of common stock, purchases of various assets and expenses, and revenue from services. 2) The adjusted trial balance organizes account balances after adjusting entries are made for expenses and prepaid items at December 31. 3) Key financial statements are generated from the adjusted trial balance including an income statement showing net income of $7,140 for the month, statement of stockholders' equity, and classified balance sheet with assets of $14,270 and liabilities of $130.

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    Accounting_Cycle_Excel_Template_2

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    1) The general journal records transactions from December 1-31 including the issuance of common stock, purchases of various assets and expenses, and revenue from services. 2) The adjusted trial balance organizes account balances after adjusting entries are made for expenses and prepaid items at December 31. 3) Key financial statements are generated from the adjusted trial balance including an income statement showing net income of $7,140 for the month, statement of stockholders' equity, and classified balance sheet with assets of $14,270 and liabilities of $130.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    99 views11 pages

    Accounting Cycle Excel Template 2

    Uploaded by

    Islam Samir
    1) The general journal records transactions from December 1-31 including the issuance of common stock, purchases of various assets and expenses, and revenue from services. 2) The adjusted trial balance organizes account balances after adjusting entries are made for expenses and prepaid items at December 31. 3) Key financial statements are generated from the adjusted trial balance including an income statement showing net income of $7,140 for the month, statement of stockholders' equity, and classified balance sheet with assets of $14,270 and liabilities of $130.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    of 11

    General Journal

    Date Description Debit Credit


    1-Dec Cash $ 10,500
    Common stock $ 10,500
    1-Dec Rent expenses $ 1,000
    Cash $ 1,000
    1-Dec Pre Insurance $ 720
    Cash $ 720
    1-Dec Equipment $ 4,200
    Cash $ 4,200
    5-Dec Supplies $ 300
    Accounts Payable $ 300
    15-Dec Cash $ 7,400
    Service Revenue $ 7,400
    16-Dec Accounts Recievable $ 5,500
    Service Revenue $ 5,500
    21-Dec Cash $ 2,500
    Accounts Recievable $ 2,500
    23-Dec Accounts Payable $ 170
    Cash $ 170
    28-Dec Wages expense $ 4,760
    Cash $ 4,760
    30-Dec Dividend $ 200
    Cash $ 200

    31-Dec Insurance Expense $ 60


    Prepaid Insurance $ 60
    31-Dec Supplies Expense $ 210
    Supplies $ 210
    31-Dec Depreciation Expenses $ 70
    Accumulated Depreciation $ 70
    31-Dec Wages expenses $ 510
    Wages Payable $ 510

    EX Retained Earnings $ 200


    Dividend $ 200
    Retained Earnings XXX
    Wage Expense XX
    Rent Expenses XX
    Cash Accounts Payable
    23-Dec $ 170 $ 300 5-Dec
    1-Dec $ 10,500 $ 1,000 1-Dec
    15-Dec $ 7,400 $ 720 1-Dec $ 130.00
    21-Dec $ 2,500 $ 4,200 1-Dec .
    $ 170 23-Dec
    $ 4,760 28-Dec
    $ 200 30-Dec
    $ 9,350

    Account Receivables
    16-Dec $ 5,500 $ 2,500 21-Dec Wages Payable

    $ 3,000
    $ 510 31-Dec

    adj

    Supplies
    5-Dec $ 300

    $ 210 31-Dec

    adj

    Prepaid Insurance
    1-Dec $ 720

    $ 60 31-Dec

    adj
    Equipment
    1-Dec $ 4,200

    Accumulated Depreciation

    $ 70 31-Dec

    adj
    Common Stock Insurance Expense
    $ 10,500 1-Dec

    31-Dec $ 60

    adj

    Retained Earnings Supplies Expense

    31-Dec $ 210

    adj

    Service Revenue Depreciation Expense


    $ 7,400 15-Dec
    $ 5,500 16-Dec
    31-Dec $ 70
    $ 12,900
    adj

    Rent Expense Dividends


    1-Dec $ 1,000 30-Dec $ 200
    Wages Expense
    28-Dec $ 4,760

    31-Dec $ 510

    adj
    e Expense

    Expense

    on Expense

    dends
    Unadjusted Trial Balance

    Accounts
    Debit Credit
    Cash $ 9,350
    Accounts Receivables $ 3,000
    Supplies $ 300
    Prepaid Insurance $ 720
    Equipment $ 4,200
    Accumulated Depreciation
    Accounts Payable $ 130
    Wages Payable
    Common Stock $ 10,500
    Retained Earnings
    Dividends $ 200
    Service Revenue $ 12,900
    Rent Expense $ 1,000
    Wages Expense $ 4,760
    Insurance Expense
    Supplies Expense
    Depreciation Expense
      Totals $ 23,530 $ 23,530
    Adjusted Trial Balance

    Debit Credit
    Cash
    Accounts Receivables
    Supplies $ 90
    Prepaid Insurance $ 660
    Equipment
    Accumulated Depreciation $ 70
    Accounts Payable
    Wages Payable $ 510
    Common Stock
    Retained Earnings
    Dividends
    Service Revenue
    Rent Expense
    Wages Expense $ 5,270
    Insurance Expense $ 60
    Supplies Expense $ 210
    Depreciation Expense $ 70
      Totals $ 6,360 $ 580
    Income Statement Statement of Stockholders' Equity
    For the month Ended December 31, 20XX For the month Ended December 31, 20XX
    Revenue $ 12,900 Cash $ 9,350
    Current Asset:
    Expenses: Supplies $ 300
    Rent expense $ 1,000 Prepaid Insurance $ 720
    Wages Expense $ 4,760
    Total Expenses $ 5,760 Long term Asset:
    Net Income $ 7,140 Equipment $ 4,200
    t of Stockholders' Equity Classified Balance Sheet
    h Ended December 31, 20XX At December 31, 20XX
    Liabilities:
    Accounts Payable $ 130

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