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Excel Learning

The document provides trial balance and transaction information for Pioneer Advertising Agency Inc for the fiscal year ending December 31, 2023. It lists account names, types, balances and transactions between October 1, 2022 and November 1, 2022. The trial balance shows total debits of $287,000 equal to total credits of $287,000. Key transactions include issuing stock for $100,000, purchasing equipment for $50,000 on credit, and recognizing $100,000 in service revenue for the period.

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0% found this document useful (0 votes)
84 views11 pages

Excel Learning

The document provides trial balance and transaction information for Pioneer Advertising Agency Inc for the fiscal year ending December 31, 2023. It lists account names, types, balances and transactions between October 1, 2022 and November 1, 2022. The trial balance shows total debits of $287,000 equal to total credits of $287,000. Key transactions include issuing stock for $100,000, purchasing equipment for $50,000 on credit, and recognizing $100,000 in service revenue for the period.

Uploaded by

sonia.adjei.sa
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as XLSX, PDF, TXT or read online on Scribd
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Company Name Pioneer Advertising Agency Inc

Fiscal Year Begin Date January 1


Fiscal Year End Date December 31
Period Year
Report Date December 31, 2023
ACCOUNT NAME MAIN TYPE ACCOUNT TYPE
Cash Assets Current Assets
Equipment Assets Property, plant, and equipment
Notes Payable Liabilities Current Liabilities
Unearned Service Revenue Liabilities Current Liabilities
Rent Expense Expenses Expenses
Supplies Assets Current Assets
Accounts Payable Liabilities Current Liabilities
Dividends Equity Equity
Salaries and Wages Expense Expenses Expenses
Accounts Receivable Assets Current Assets
Service Revenue Revenues Revenues
Common Stock Equity Paied in Capital
Prepaid Insurance Assets Current Assets
Retained Earnings Equity Retained Earnings
BALANCE
STATEMENT (DR)/CR
Balance Sheet (20,000.00)
Balance Sheet (110,000.00)
Balance Sheet 50,000.00
Balance Sheet 12,000.00
Income Statement (9,000.00)
Balance Sheet (25,000.00)
Balance Sheet 25,000.00
Retained Earnings (5,000.00)
Income Statement (40,000.00)
Balance Sheet (72,000.00)
Income Statement 100,000.00
Balance Sheet 100,000.00
Balance Sheet (6,000.00)
Balance Sheet -
Pioneer Advertising Agency Inc
Trial Balance
December 31, 2023

Account Debit Credit


Cash 20,000.00 -
Equipment 110,000.00 -
Notes Payable - 50,000.00
Unearned Service Revenue - 12,000.00
Rent Expense 9,000.00 -
Supplies 25,000.00 -
Accounts Payable - 25,000.00
Dividends 5,000.00 -
Salaries and Wages Expense 40,000.00 -
Accounts Receivable 72,000.00 -
Service Revenue - 100,000.00
Common Stock - 100,000.00
Prepaid Insurance 6,000.00 -
Retained Earnings - -

TOTALS 287,000.00 287,000.00


TOTALS 287,000.00 287,000.00
Date Amount Account

10/1/22 100,000.00 Common Stock


10/1/22 (50,000.00) Equipment
10/1/22 50,000.00 Notes Payable
10/2/22 12,000.00 Unearned Service Revenue
10/3/22 (9,000.00) Rent Expense
10/4/22 (6,000.00) Prepaid Insurance
10/5/22 (25,000.00) Supplies
10/5/22 25,000.00 Accounts Payable
10/20/22 (5,000.00) Dividends
10/26/22 (40,000.00) Salaries and Wages Expense
10/31/22 (72,000.00) Accounts Receivable
10/31/22 100,000.00 Service Revenue
11/1/22 (60,000.00) Equipment
Explanation Debit

Issued shares of stock for cash -


Issued 3-month, 12% note for office equipment 50,000.00
Issued 3-month, 12% note for office equipment -
Received cash from KC for future service -
Paid October rent 9,000.00
Paid one-year policy; effective date October 1 6,000.00
Purchased supplies on account from Aero Supply 25,000.00
Purchased supplies on account from Aero Supply -
Declared and paid a cash dividend 5,000.00
Paid salaries to date 40,000.00
Recognize revenue for services performed 72,000.00
Recognize revenue for services performed -
Purchased Equipment cash 60,000.00
Credit
Equipment November 1, 2022 November 1, 2022
100,000.00 0 >= <=
- 0
50,000.00 0
12,000.00 0
- 0
- 0
- 0
25,000.00 0
- 0
- 0
- 0
100,000.00 0
- 1
Pioneer Advertising Agency Inc
Statement Of Account
From Ending Balance to January 0, 1900

Date Explanation

44866 Equipment
Account Summary
Opening Balance -
Debit -
Credit -
Ending Balance -

Balance
Debit Credit (Dr)/Cr

Equipment
Equipment
Account Name:

Account Summary
Opening Balance -
Debit -
Credit -
Ending Balance -

Beginning Date November 1, 2022


Ending Date November 1, 2022

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