Facebook Twitter

Accounting Tutorial › With Two General Funds

SpringTime’s 2000 General Ledger - Posting the Entries

Dr (Cr), note "*" denotes entries netted - see journal entries

  #1 #2 #3 #4 #5 #6 #7 #8 #9 #10
Final TB
Bank - operating account 500 350                 850
Bank - capital account (60) 150                 90
Accounts receivable         100       250   350
Allowance for doubtful accts         (50)           (50)
Contributions receivable   100 (100)               -
Prepaid expenses       100             100
Bond 10200               (200)   10000
Premium on bond                 *190   190
Flower Pin Inventory   300       (100)         200
Capital assets   2000           200     2200
Accumulated amortization   (800)           (110)     (910)
Accounts payable   (100)   *             (100)
Bank loan - current portion 160 (130)               *(155) (125)
Bank loan   (500)               100 (400)
Deferred capital contributions   (400)           *(140)   (100) (640)
Deferred contributions - SF   (200)         *(100)   (115)   (415)
Endowment receipts (10200)               (125)   (10325)
Net assets   (770)                 (770)
Contribution for debt (100)                 100 -
Flower Pin sales (200)       (50)           (250)
Flower Pin cost of sales           100         100
Capital contributions recognized               (60)     (60)
Unrestricted contributions (100)   100               -
Spring Fling revenue (700)           *100       (600)
Administration costs 100                   100
Amortization               110     110
Interest expense                   *55 55
Spring Fling expenses 400     (100)             300

Back to Main Page