June 2010 Archives

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office supplies expense accounting
Accounting – I really need help! this is 1 out of 51.?

Note payable $41,000
rent expense 24,000
cash 3,600
office supplies 4,800
salary expense 60,000
salaries payable 2,000
property tax expense 1,200
office furniture $45,000
utilities expense 6,800
accounts payable 3,300
capital 27,100
service revenue 158,100
accounts receivable 9,000
supplies expense 4,000
*Can you please male a balance sheet for me – I tried and keep failing! Thank You!

It’s no wonder you keep failing. The debits in your question don’t equal the credits. Obviously nothing will work out right.

Debits:
office furniture $45,000
utilities expense 6,800
rent expense 24,000
cash 3,600
office supplies 4,800
salary expense 60,000
property tax expense 1,200
accounts receivable 9,000
supplies expense 4,000
Total debits $158,400

Credits
Note payable $41,000
salaries payable 2,000
accounts payable 3,300
capital 27,100
service revenue 158,100
Total credits $231,500

Get out of US Dollars or perish with the middle class!

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