Accounting Problem 4

In: Business and Management

Submitted By barceloco
Words 338
Pages 2
CH2 P4
Patel Rentals, Inc. Patel Rentals, Inc. Patel Rentals, Inc.
Date Account Titles Debit Credit Assets Liabilities & Stockholders' Equity Revenue & Expenses
6/2 Owners Capital 14,400 Debit Credit Cash 14,400 Cash Accounts Payable Rental Revenue
6/3 Supplies 300 6/2 14,400 6/3 300 6/4 2,600 6/13 1,940 Cash $2,620 Cash 300 6/23 220 6/4 2,400 6/27 1,920
6/4 Bicycles 2,400 6/5 5,800 Bal. 2,600 Accounts Receivable 0 Cash 2,400 6/8 800 Bal. 0 Accounts Payable 2,600 6/10 150 Supplies 600
6/5 Shed 5,800 6/13 1,940 Cash 5,800 6/17 300 Shed 800
6/8 Shed Shipping 800 6/18 110 Cash 800 6/25 200 Bicycles 2,400
6/9 No Entry Bal. 2,620 Accounts Payable 2,600
6/10 Maintenance Expense 150 Accounts Receivable Owners Capital Wages Expense Cash 150 6/23 220 6/2 14,400 6/29 480 Owners Capital 0
6/13 Rental Revenue 1,940 Cash 1,940 Bal. 0 Bal. 0 Bal. 480 Withdrawal 1,000
6/17 Supplies 300 Cash 300 Supplies Withdrawal Maintenance Expense Retained Earnings 0
6/18 Repair Expense 110 6/3 300 6/30 1,000 6/10 150 Cash 110 6/17 300 Rental Revenue 0
6/23 Accounts Receivable 220 Bal. 600 Bal. 1,000 Bal. 150 Cash receivable 220 Wages Expense 480
6/25 Concession Fee Expense 200 Shed Retained Earnings…...

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