Accounting Information System

AccountingInformation System

AccountingInformation System

GKSpring Skating School Inc.

T-accounts

CashA/C

$

$

30th April Bal b/d

23,000

Balance c/d

___23,000

23,000

23,000

AssetA/C (equipment)

$

$

30th April Bal b/d

2,000

Balance c/d

___2,000

2,000

2,000

Accountspayable

$

$

30th April Balance c/d

500

Bal b/d

500

___500

500

500

Retainedearnings A/C

$

$

30th April Balance b/d

6,000

Bal c/d

6,000

6,000

6,000

Journalentries for the month of May

4thmay DR CR

Rentexpense a/c $7,200

Casha/c $7,200

9thMay

Accountspayable a/c $500

Casha/c $500

11thMay

Prepaidrent expense a/c $14,400

Casha/c $14,400

Advertisingexpense a/c $500

Casha/c $500

15thMay

Salaryand wage a/c $1,000

Casha/c $1,000

18thMay

Rentexpense a/c $7,200

Casha/c $7,200

21stMay

Officeexpense a/c $100

Accountspayable a/c $100

29thMay

Advancea/c $17,500

Unearnedrevenue a/c $17,500

Purchasesa/c $200

Casha/c $200

Unearnedrevenue a/c $2,200

Advancea/c $2,200

Advertisingexpense a/c $300

Casha/c $300

Salaryand wages a/c $1,000

Casha/c $1,000

31stMay

Taxpayable a/c $1,000

Casha/c $1,000

Generaljournals

$

$

4th May Rent expense

7200

Cash a/c

7200

9th May A/C Payable

500

Cash

500

11th May Rent expense

14400

Cash

14400

Advertising

500

Cash

500

15th Salary and wages

1000

Cash

1000

18th Rent expense

7200

Cash

7200

21st Office expense

100

Cash

100

29th Unearned revenue

17500

Advance

17500

Purchases

200

200

Cash

2200

Unearned revenue

2200

Advertising

300

Cash

300

Salary and wages

1000

Cash

1000

31st Tax payable

1000

Cash

1000

53,100

53,100

Trialbalance as at 31stMay

$

$

Equipment

2000

A/c payable

500

Unearned revenue

2200

Cash balance

10400

Retained Earings

6000

Balance B/d

5100

13,100

13,100

References

EugeneB. &amp Michael E.BusinessAccounting: Theory &amp Practice. (2008).Branzil:Amazon.