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1 page/≈275 words
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Other
Subject:
Accounting, Finance, SPSS
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Math Problem
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English (U.S.)
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# Transaction Journal, Ledger Accounts, and Trial Balance (Math Problem Sample)

Instructions:

Requirements:
a) Journalize the March transactions.
b) Prepare necessary Ledger Accounts.
c) Prepare a Trial Balance at March 31.
(i) Earned but unbilled revenue at March 31 was \$500.
(ii) Depreciation on equipment for the month was \$200.
(iii) One-twelfth of the insurance expired.
(iv) An inventory count shows \$400 of cleaning supplies on hand at March 31.
(v) Accrued but unpaid employee salaries were \$700.
e) Prepare the Income Statement and Owner’s Equity Statement for March and a classified Financial Position at March 31.
f) Journalize Closing Entries

source..
Content:

Question
Mr. Arish opened Arish’s Carpet Cleaners on March 1, 2021. During March, the followingtransactions were completed.Mar. 1: Invested \$15,000 cash in the business.Mar. 1: Purchased used Lorry for \$6,000, paying \$3,000 cash and the balance onaccount.

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