KARDAN INSTITUTE OF HIGHER EDUCATION Trial Balance For The period Ended 31 st Dec,2010 Trial...
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KARDAN INSTITUTE OF HIGHER EDUCATION Trial Balance For The period Ended 31 st Dec,2010 Trial Balance Adjustments Adjusted Trial balance Descripti on Dr Cr Dr Cr Dr Cr Cash 15,000 15,000 A/R 10,000 10,000 A/P 15,000 15,000 Prepaid Rent 15,000 12,000 3,000 Machinery 50,000 50,000 Sales 45,000 45,000 Salaries 15,000 15,000 Capital 45000 45000 Rent Exp 12,000 12,000 Dep Exp 2,000 2,000 Acc. Dep 2,000 2,000 Adjustments are prepared at the end of year. 1. Prepaid rent is for 15 months . Paid on jan1,2010. 2. Machinery useful life is 24 years and its residual value is 2000.
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KARDAN INSTITUTE OF HIGHER EDUCATION Un Adjusted Trial Balance AdjustmentsAdjusted trial Balance DESCRIPTIONDRCRDRCRDRCR CASH20,000 Prepaid Rent30,00015,000 Prepaid Salaries 12,000 6,000 Inventory 7000 Machinery60,000 Acc.Dep 4,000 Account payable 28,000 Capital 42,000 Advertisement Revenue 22,000 Sales 40,000 Rent expenses ,000 Salaries Expense 6,000 Depreciation Exp 4,000 TOTAL1,32,000 Trial Balance of ABC & Co For The Period Ended Dec,2010
Transcript of KARDAN INSTITUTE OF HIGHER EDUCATION Trial Balance For The period Ended 31 st Dec,2010 Trial...
KARDAN INSTITUTE OF HIGHER EDUCATION
Trial Balance For The period Ended 31st Dec,2010
Trial Balance Adjustments Adjusted Trial balance
Description Dr Cr Dr Cr Dr CrCash 15,000 15,000
A/R 10,000 10,000
A/P 15,000 15,000
Prepaid Rent 15,000 12,000 3,000
Machinery 50,000 50,000
Sales 45,000 45,000
Salaries 15,000 15,000
Capital 45000 45000
Rent Exp 12,000 12,000
Dep Exp 2,000 2,000
Acc. Dep 2,000 2,000
Adjustments are prepared at the end of year.1. Prepaid rent is for 15 months . Paid on jan1,2010.2. Machinery useful life is 24 years and its residual value is 2000.
KARDAN INSTITUTE OF HIGHER EDUCATION
Un Adjusted Trial Balance
Adjustments Adjusted trial Balance
DESCRIPTION DR CR DR CR DR CR
CASH 20,000
Prepaid Rent 30,000
Prepaid Salaries 12,000
Inventory 7000
Machinery 60,000
Account payable 28,000
Capital 42,000
Advertisement Revenue 22,000
Sales 40,000
Rent expenses 3000
TOTAL 1,32,000 1,32,000
Trial Balance of ABC & Co For The Period Ended Dec,2010
KARDAN INSTITUTE OF HIGHER EDUCATION
Un Adjusted Trial Balance
Adjustments Adjusted trial Balance
DESCRIPTION DR CR DR CR DR CR
CASH 20,000
Prepaid Rent 30,000 15,000
Prepaid Salaries 12,000 6,000
Inventory 7000
Machinery 60,000
Acc.Dep 4,000
Account payable 28,000
Capital 42,000
Advertisement Revenue 22,000
Sales 40,000
Rent expenses 3000 15,000
Salaries Expense 6,000
Depreciation Exp 4,000
TOTAL 1,32,000 1,32,000
Trial Balance of ABC & Co For The Period Ended Dec,2010
OTHER RELEVANT INFORMATION
KARDAN INSTITUTE OF HIGHER EDUCATION
1) Prepaid rent is for 2-years and made on january1,2010.
2) Prepaid salaries is for one year, paid on 1st July 2010.
3) Machinery useful life is 15-years.
KARDAN INSTITUTE OF HIGHER EDUCATION
DESCRIPTION DR CRCash 55,000A/R 40,000A/P 20,000Pre-paid rent 18,000Pre-paid Salaries 12,000Un-earned Advertisement revenue 50,000Building 90,000Office supplies 15,000Capital 100,000Advertisement Revenue 60,000TOTAL 2,30,000 2,30,0001- At the end of December 12,000 of off.supplies are used. 2- Prepaid rent is for 18 months, paid on 1st Jan 2010.3. Prepaid salaries are for 6 months, paid on 1st October to employees.
Trial Balance For the Period Ended 31ST Dec.2010
Description DR($)
CR($)
Cash 30,000Salaries 15,000Office supplies 10,000Prepaid Insurance 18,000Prepaid Salaries 9,000Building 74,000Land 100,000Car 10,000Unearned Advertisement Revenues 48,000Notes Payable 60,000A/P 20,000Capital 138,000
TOTAL 266,000 266,000
Trial Balance Of ABC & Co For the Period Ended 31.Dec 2010
ADJUSTMENT REQUIRED AT YEAR END 31,DEC.2010
KARDAN INSTITUTE OF HIGHER EDUCATION
1) Prepaid salaries is for 3 months paid on 1st November 2010.2) Prepaid insurance is for one year paid on 1st April 2010.3) Building useful life is 35 years and its residual value is $ 4000.Building is acquired in January 2010.4) Unearned Advertisement revenue is received on 31st March 2010
for 1 year.5) Office supplies amount $7000 is consumed.
DESCRIPTION DR CRCash 20,000A/R 15,000Office Supplies 30,000Furniture 50,000Prepaid Rent 20,000Rent Expenses 5000Unearned Salaries Revenue
25,000
Salaries Revenue 10,000Capital 105,000TOTAL 140,000 140,000
TRIAL BALANCE FOR YEAR ENDED DEC 31,2010
Prepared adjusted Trial Balance at year ended 31st Dec.2010.
1) Closing balance of Office supplies is $ 7000.2) Useful life of furniture is 24 years and its residual
value is $ 2000.3) Prepaid rent is for one year paid on 1st July 2010.4) Earned $ 10,000 Salaries Revenue out of Un-
earned revenue.
Prepared By: Kamran Khan
