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24 views4 pages

BA Answer Key

Uploaded by

aw3595867
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as XLSX, PDF, TXT or read online on Scribd
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Problem #9 - Madelyn Rialubin Travel Agency T-Accounts

Madelyn Rialubin Travel Agency


Unadjusted Trial Balance
December 31, 2021 Dec. 31

Debit Credit Balance


110 Cash 126,000
120 Accounts Receivable 645,000
130 Prepaid Rent 360,000
140 Office Supplies 63,000 Dec. 31
150 Furniture 2,175,000
155 Accumulated Depreciation 435,000 Balance
210 Notes Payable 900,000
220 Accounts Payable 285,000
230 Salaries Payable
240 Interest Payable Dec. 31
310 Rialubin, Capital 1,680,000
320 Rialubin, Withdrawals 1,200,000 Balance
410 Travel Revenues 5,133,000
510 Salaries Expense 3,771,000
520 Rent Expense
530 Office Supplies Expense Dec. 31
540 Depreciation Expense
550 Interest Expense Balance
560 Miscellaneous Expense 93,000
Totals 8,433,000 8,433,000

Dec. 31
Adjusting Entries
Balance
a. Rent Expense 120,000
Prepaid Rent 120,000

b. Office Supplies Expense 36,000


Office Supplies 36,000

c. Depreciation Expense 75,000


Accumulated Depreciation 75,000

d. Salaries Expense 105,000


Salaries Payable 105,000

e. Interest Expense 54,000


Interest Payable 54,000
T-Accounts

Cash Notes Payable


Debit Credit Debit Credit
126,000 900,000 Dec. 31

126,000 900,000 Balance

Accounts Receivable Accounts Payable


Debit Credit Debit Credit
645,000 285,000 Dec. 31

645,000 285,000 Balance

Prepaid Rent Salaries Payable


Debit Credit Debit Credit
360,000 120,000 Adj. (a) 105,000 Adj. [d]
240,000
240,000 105,000 Balance

Office Supplies Interest Payable


Debit Credit Debit Credit
63,000 36,000 Adj. (b) 54,000 Adj. [e]
27,000
27,000 54,000 Balance

Furniture Rialubin, Capital


Debit Credit Debit Credit
2,175,000 1,680,000 Dec. 31

2,175,000 1,680,000 Balance

Accumulated Depreciation Rialubin, Withdrawals


Debit Credit Debit Credit
435,000 Dec. 31 Dec. 31 1,200,000
75,000 Adj. [c]
510,000 Balance Balance 1,200,000

Travel Revenues
Debit Credit
5,133,000 Dec. 31

5,133,000 Balance
Salaries Expense Madelyn R
Debit Credit Adjus
Dec. 31 3,771,000 Dec
Adj. [d] 105,000
Balance 3,876,000
Account Titles
Rent Expense Cash
Debit Credit Accounts Receivable
Adj. (a) 120,000 Prepaid Rent
Office Supplies
Balance 120,000 Furniture
Accumulated Depreciation
Office Supplies Expense Notes Payable
Debit Credit Accounts Payable
Adj. (b) 36,000 Salaries Payable
Interest Payable
Balance 36,000 Rialubin, Capital
Rialubin, Withdrawals
Depreciation Expense Travel Revenues
Debit Credit Salaries Expense
Adj. [c] 75,000 Rent Expense
Office Supplies Expense
Balance 75,000 Depreciation Expense
Interest Expense
Interest Expense Miscellaneous Expense
Debit Credit TOTALS
Adj. [e] 54,000

Balance 54,000

Miscellaneous Expense
Debit Credit
Dec. 31 93,000

Balance 93,000
Madelyn Rialubin Travel Agency
Adjusted Trial Balance
December 31, 2021

Unadjusted Trial Balance Adjustments Adjusted Trial Balance


Debit Credit Debit Credit Debit Credit
126,000 126,000
645,000 645,000
360,000 a 120,000 240,000
63,000 b 36,000 27,000
2,175,000 2,175,000
435,000 c 75,000 510,000
900,000 900,000
285,000 285,000
d 105,000 105,000
e 54,000 54,000
1,680,000 1,680,000
1,200,000 1,200,000
5,133,000 5,133,000
3,771,000 d 105,000 3,876,000
a 120,000 120,000
b 36,000 36,000
c 75,000 75,000
e 54,000 54,000
93,000 93,000
8,433,000 8,433,000 390,000 390,000 8,667,000 8,667,000

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