University | National University of Singapore (NUS) |
Subject | Accounting |
Project Brief:
Heng Heng Electrical and Aircon Service’s chart of accounts and the balance of accounts as of 31 Jul 2020 (all normal balances) are as follows:
Type |
G/L Account |
Account Name |
Balance |
Assets |
110 | Bank-DBS | $ 43,700 |
120 | Accounts Receivable | $130,500 | |
140 | Supplies | $6,700 | |
150 | Prepaid Insurance | $9,000 | |
160 | Equipment/Tools | $48,500 | |
170 | Office Equipment | $23,500 | |
Liabilities |
210 | Accounts Payable | $62,100 |
230 | Bank Loan | $100,000 | |
240 | Unearned Revenue | $40,500 | |
Owner’s Equity |
310 | Capital | $50,000 |
320 | Drawing | $2,000 | |
Revenue |
410 | Fees Earned | $60,000 |
Expense |
510 | Salaries Expense | $31,700 |
520 | Rent Expense Equipment | $2,900 | |
530 | Rent Expense Office | $2,400 | |
540 | Advertising Expense | $1,000 | |
550 | Supplies Expense | $3,000 | |
560 | Utilities Expense | $2,500 | |
570 | Commissions Expense | $4,400 |
Hire a Professional Essay & Assignment Writer for completing your Academic Assessments
Native Singapore Writers Team
- 100% Plagiarism-Free Essay
- Highest Satisfaction Rate
- Free Revision
- On-Time Delivery
Instructions:
1. Enter the Aug 1, 2020 account balances in the appropriate balance column of an account. Write Balance in Item column and place a checkmark (√) in the Posting Reference column. Verify the quality of the debit and credit balances in the ledger.
2. Analyse and journalize each transaction with narration. Assume that all cash transactions will be transacted into the bank immediately.
3. Post the journal to the ledger and extending the account balance to the appropriate balance column.
4. Prepare an Unadjusted Trial Balance as of 31 Aug 2020.
We provide 24*7 online assignment help to accounting students through our chat team, so that you can get your doubts cleared and ask anything you wish. We help you get top grades with our accounting assignment help.
Looking for Plagiarism free Answers for your college/ university Assignments.
- PS300 Research Project Assignment: Emotional Intelligence Components Predict Happiness
- Electronics Engineering Circuit Assignment Questions: Theory & AC Analysis
- EAS425 Tutor-Marked Assignment Report: Arrow Airways Case in Flight Line Management
- Community Health Nurses in Singapore Assignment: Balancing Prevention and Treatment in Diabetes Management
- ACC08702 Flexible Budgeting Analysis with Variance Calculation: Selling Overheads & Consultancy Services Case Study
- GCE A-Level 8882 Project Work: How to Write a Winning Project Summary
- IT3662 SAFENET Network Security and Integration Assignment: Case Study on HQ and Branch Office Setup
- Vodafone Group Plc Annual Report Assignment: Financial Performance and Shareholder Insights (2024)
- Financial Literacy Lifespan Assignment: A Case Study on Gen Z & Millennials’ Financial Stability and Lifelong Learning
- PSB7008CL Organisational Behaviour Assignment: Case Study on Leadership, Diversity, and Change Initiatives