Ejercicios Resueltos De Contabilidad [new] ★ Plus & Certified

Initial cash was 50,000 (Jan 1). After Feb transactions, cash is 1,000? That’s impossible because we had 55,000 after Jan. We must include beginning balances.

The loan of $20,000 was not in the asset side? Cash includes it. The real issue: The trial balance above was inconsistent. Let’s rebuild correctly in a real exercise. 6. Exercise 5: Closing Entries Using the corrected Income Statement (Net Income = $10,100), close the temporary accounts. ejercicios resueltos de contabilidad

| Account | Debit | Credit | |---------|-------|--------| | Cash | 12,000 | | | Accounts Receivable | 5,000 | | | Supplies | 200 | | | Prepaid Insurance | 1,800 | | | Equipment | 21,000 | | | Accumulated Depreciation | | 1,000 | | Accounts Payable | | 3,500 | | Salaries Payable | | 900 | | Loan Payable | | 20,000 | | Capital | | 50,000 | | Service Revenue | | 22,200 | | Rent Expense | 3,000 | | | Salaries Expense | 6,900 | | | Supplies Expense | 600 | | | Insurance Expense | 600 | | | Depreciation Expense | 1,000 | | | | 52,100 | 97,600 | Initial cash was 50,000 (Jan 1)

A/P = $3,500 Salaries Payable = $900 Loan Payable = $20,000 Total Liabilities = $24,400 We must include beginning balances

Error detected: Totals don’t balance – missing Retained Earnings or dividends? For teaching purposes, let’s assume the difference is net income and we will close it.

Debit: 6,000 (Feb10) Balance = 6,000