Question

create A Unadjusted Trial balance using the info provided

MacBook Po Comprehensive Project Part B Date Business Transactions Transaction Nick Roberts invested capital in his new business venture by depositing money into an interest bearing business checking Amount December 1, 2018 Deposit Ticket 1 $10,000.00 account December 1, 2018 Deposit Ticket 1 NICK Dorrowed from the local bank, It is a 5- year note, 10 % interest Nick paid cash for a trailer listed on Craig's list to haul his lawn equipment Nick signed a contract with a cellular company and purchased a smart phone on account to track appointments and make business phone calls (anything less than $300 is considered an expense) Nick purchased a lawn tractor at Sears on $20,000.00 Check Number December 2, 2018 100 $8,000.00 X December 2, 2018 $200.00 Secember 3, 2018 $4,000.00 account Nick paid cash for a hand lawn mower at Menards (anything tangible over $300 is capitalized as a fixed asset). Nick paid for a one-year insurance policy that was effective December 1 Nick signed a contract with a local graphic center to detail the name of the business on his truck for advertising and received an invoice to be paid. Nick paid cash for supplies (gas cans, rakes & garbage cans) which he will be using in November for the business. (hint-he is using them right away so they are an expense) Nick filled all of the gas cans and purchased oil for the lawn equipment. (Gas & Oil are recorded as an asset and adjusted at the end of the month for usoge). Nick advertised his business in the local newspaper. The newspaper invoices their $100.00 customers monthly Nick performed lawn service for The Local Community College campus and its dormitories. The college was invoiced. Check Number December 3, 2018 $750.00 101 X Check Number 102 December 4, 2018 $1,200.00 X $700.00 December 5, 2018 $90.00 Check Number December 5, 2018 103 $400.00 Check Number 104 December 8, 2018 December 9, 2018 $1,000.00 Invoice 001 December 10, 2018

Answer 1

B4 X fic account titles B C D E credit unadjusted trial balance December 31, 2018 account titles debit cash $ 18,670 accounts receivable $ 2,450 prepaid insurance $ 1,200 gas and oil supplies $ 1,005 trailer $ 8,000 tractor $ 4,000 hand lawn mover $ 750 accounts payable notes payable unearned service revenue Nick Roberts, Capital Nick Roberts, Drawings $ 1,210 service revenue telephone expense $ 375 advertising expense $ 800 supplies expense $ 90 totals $ 38,550 $ 4,300 $ 20,000 $ 900 $ 10,000 $ 3,350 $ 38,550

for formulas and calculations, refer to the image below -

: * fic account titles B credit unadjusted trial balance December 31, 2018 debit =10000+20000-8000-750-1200-90-400+200+900+300-230-700+400-375-210-175-1000 =1000-300+400-400+950+800 1200 =400+230+375 8000 4000 750 account titles cash accounts receivable prepaid insurance gas and oil supplies trailer tractor hand lawn mover accounts payable notes payable unearned service revenue Nick Roberts, Capital Nick Roberts, Drawings service revenue telephone expense advertising expense supplies expense totals =200+4000+700+100-700 =20000 =900 10000 =210+1000 =1000+200+400+950+800 =200+175 =700+100 90 =SUM(C5:C20) =SUM(D5:D20)

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