October 24 2022 Discussion
October 24 2022 Discussion
October 24 2022 Discussion
Cash 10,000
RDV, Capital 10,000
Cash 20,000
Adjusting Entries:
Asset Method:
Expense Method:
I= 100,000 x 7% x 3/12
I= 1,750
I= 90,000 x 4% x 8/12
I= 2,400
Expense method:
Cash
Debit Credit
100,000 5,000
5,000 10,000
50,000 20,000
10,000
5,000
155,000 50,000
105,000
Office Supplies
Debit Credit
5,000 5,000
5,000
10,000 5,000
5,000
Notes Payable
Debit Credit
50,000
RDV, Capital
Debit Credit
100,000
Trial Balance