Answer To: need someone to do this accounting assignment for me
Kiran answered on Sep 24 2021
Directions
ACC 120 - Principles of Financial Accounting
Case # 2
Maple Landscaping Company
Unadjusted Trial Balance
November 30, 2018 November 30, 2016
Debit Credit
110 Cash $40,860
120 Accounts Receivable 6,550
130 Supplies 2,100
140 Prepaid Insurance 1,200
150 Land 100,000
160 Building 75,000
161 Accumulated Depreciation - Building 0
170 Landscaping Equipment 10,500
171 Accumulated Depreciation - Landscaping Equipment 0
210 Accounts Payable 29,200
220 Unearned Landscaping Revenue 30,000
230 Wages Payable -
310 J. Doe, Capital $168,550
320 J. Doe, Drawings 3,500
410 Landscaping Revenue 23,100
510 Wages Exp 4800
520 Rent Exp 3,000
530 Depreciation Exp - Building 0
540 Depreciation Exp - Landscaping Equipment 0
550 Utilities Exp 2,240
560 Supplies Expense -
570 Insurance Expense -
580 Misc Exp 1,100
Total $ 250,850 $ 250,850
You have already journalized and posted routine entries through the month of November and created your Unadjusted Trial Balance (above). The following data have been assembled for adjusting entries.
a Unearned Landscaping Revenue is $5,000 at Nov 30 as $25,000 of the landscaping services were provided in November.
b Depreciation for the building for November is $750.
c Depreciaiton for the Landscaping Equipment is $250.
d The balance in Prepaid Insurance is for a 12 month liability insurance policy purchased on Sept 1 and beginning that day.
e Supplies on hand at Nov 30 is $1750.
f Maple Company has provided $19,000 of landscaping services in November that it has not yet billed for.
g Accrued wages at Nov 30 are $750.
Directions:
1. Journalize each adjusting entry on page 3 of your journal. Post transactions to the ledger.
2. Prepare an adjusted trial balance.
3. Prepare financial statements for the month of November (Income Statement, Statement of Owner's Equity, and Classified Balance Sheet only). There weren't any investments by owner during the month of November.
You should complete Case # 2 in this Excel workbook with the following tabs: Journal, Ledger, ATB, and Financial Statements. You may use another spreadsheet program as long as Excel can open the file. My suggestion is to use this template file and rename it to begin with your last name.
Journal
General Journal
Page 3
Date Account Titles and Explanation P. R. Debit Credit
Nov 30 Unearned Landscaping Revenue 220 $25,000
Landscaping Revenue 410 $25,000
30 Depreciation Expense- Building 530 750
A/D - Building 161 750
30 Depreciation Expense- Landscaping Equipment 540 250
A/D Landscaping Equipment 171 250
30 Insurance Expense 570 300
Prepaid Insurance 140 300
30 Supplies Expense 560 350
Supplies 130 350
30 Accounts Receivable 120 19000
Landscaping...