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    Group 8 - BWA1 1 Feedback 1

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    Group 8 - BWA1 1 Feedback 1

    Uploaded by

    dq5686
    14 views6 pages

    Original Title

    Group-8_BWA1-1-feedback-1

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    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    14 views6 pages

    Group 8 - BWA1 1 Feedback 1

    Uploaded by

    dq5686

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
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    GROUP 8

    KIEN PHUOC DAM


    MINH QUAN DUONG
    MINH QUAN LE
    KIM PHUONG NGO TRAN
    NGOC NGUYEN AN BUI

    QUESTION 1

    (a)

    GENERAL JOURNAL

    DATE ACCOUNT TITLE AND EXPLANATION REF DEBIT CREDIT


    Aug. 1 Cash ( Investment ) 101 $15.000

    Owner’s Capital 301 $15.000

    2 Equipment rent expense 728 $1.650


    ( Baking equipment rent )

    Cash 101 $1.650

    5 Equipment ( Purchased cash register ) 157 $1.000

    Account payable 201 $1.000

    9 Cash 101 $12.000

    Note payable 200 $12.000

    18 Drawings 306 $6.000

    Cash 101 $6.000

    20 Account payable 201 $1.000

    Cash 101 $1.000

    29 Account receivable ( Wedding order ) 112 $1.600

    Sales revenue 400 $1.600

    31 Cash 101 $10.500

    Account receivable 112 $4.200

    Sales revenue 400 $14.700

    Utility expenses 732 $800

    Utiliy payable 202 $800

    Wages for staffs 726 $2.300

    Shop rent expense 729 $1.000

    Avertising expense 610 $800


    Cash 101 $4.100

    Supplies expenses 631 $3.500

    Note payable 200 $3.500


    Insurance 130 $1.320

    Cash 101 $1.320

    (b)

    Cash withdraw should be credited


    ©
    rial Balance
    debit credit
    Cash 15000

    owner ‘s capital 15000

    Equipment 1650

    cash 1650

    Equipment 1000

    cash 1000

    Cash 12000

    Note payable 12000

    Owner’s drawing 6000

    cash 6000

    revenue 1600

    revenue 10500

    Account receivable 4200

    Utility expense 800

    Wage expense 2300

    Rent expense 1000

    Advertising expense 800

    Insurance expense 1320

    45270 47830

    QUESTION 2
    2.

    Account debited Account credited

    Date Basic Specific Effect Normal Basic Specific Effect Normal


    type account type Account Balance
    balance
    August Assets Cash Increase Debit Owner’s Owner’s Decreas Credit
    1 Equity Capital e

    August No effect
    1

    August Owner’s Rent Increase Debit Assets Cash Decreas Credit


    2 Equity Expense e

    August Assets Supplies Increase Debit Liabilities Accounts Increase Credit


    3 Payable

    August Assets Accounts Increase Debit Owner’s Service Increase Credit


    10 Receivable Equity Revenue

    August Assets Cash Increase Debit Owner’s Service Increase Credit


    11 Equity Revenue

    August Assets Cash Increase Debit Owner’s Service Increase Credit


    20 Equity Revenue

    August Owner’s Salaries & Increase Debit Assets Cash Decreas Credit
    31 equity Wages e
    Expenses

    August Liabilities Accounts Decreas Debit Assets Cash Decreas Credit


    31 payable e e

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