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Student ID:

FlixCity & Gaming


General Journal
for July 2016
Date Jnl Ref Account & Journal Details

Day Month
1 July 1 240 - Wages Payable
100 - Cash at Bank
Paid Wages for june
1 July 2 602 - Candy Bar Expense
200 - Accounts Payable
Used credit to purchase confectionary for candy bar
1 July 3 100 - Cash at Bank
210 - Unearned Revenue
Received deposits for July gaming session
4 July 4 613 - Leasing Expense - gaming furniture
100 - Cash at Bank
July leasing instalment for gaming furniture
5 July 5 602 - Candy Bar Expense
200 - Accounts Payable
Bought popcorn on credit
7 July 6 618 - Wages Expense
240 - Wages Payable
Weekly wage that is payable
9 July 7 100 - Cash at Bank
110 - Accounts Receivable
Received payment from SmarMedia for last month
10 July 8 170 - Equipment
100 - Cash at Bank
Purchased laptop for office
14 July 9 618 - Wages Expense
240 - Wages Payable
Weekly wage payable
15 July 10 140 - Prepaid Insurance
100 - Cash at Bank
Prepaid insurance premium for next 12 months
17 July 11 614 - Licensing Expense - Nintendo
100 - Cash at Bank
Licensing agreement fee to Nintendo
18 July 12 617 - Stationery & Office Supplies Expense
100 - Cash at Bank
Purchased office supplies
19 July 13 130 - Prepaid Advertising
100 - Cash at Bank
Advertising contract fees for 12 months
20 July 14 615 - Licensing Expense - Sony
100 - Cash at Bank
Sony's licensing agreement fee
21 July 15 618 - Wages Expense
240 - Wages Payable
(Weekly wage payable)
23 July 16 220 - Interest Payable
230 - Loan Payable - principal due May 2030
100 - Cash at Bank
Paid CBA loan repayment
24 July 17 250 - Utilities Payable
100 - Cash at Bank
Paid electricity bill
25 July 18 612 - Leasing Expense - cinema seating/screen
100 - Cash at Bank
Paid monthly leasing instalment for theatre seating and screen
28 July 19 618 - Wages Expense
240 - Wages Payable
(Weekly wage payable)
31 July 20 100 - Cash at Bank
400 - Sales - Cinema
Total cinema's cash sale for the month
31 July 21 100 - Cash at Bank
401 - Sales - Gaming
Total gaming cash sales for the month
31 July 22 100 - Cash at Bank
402 - Sales - Candy Bar
Total candy bar sales for the month
31 July 23 200 - Accounts Payable
100 - Cash at Bank
Paid amount owing to Kernals & Korn
31 July 24 200 - Accounts Payable
100 - Cash at Bank
Paid amount owing to Lollies RUS
31 July 25 110 - Accounts Receivable
400 - Sales - Cinema
Total month cinema credit sales
31 July 26 600 - Accounting Fees
200 - Accounts Payable
Received accountant's invoice for 2016 work
31 July 27 301 - Nicholas Robbins, Drawings
100 - Cash at Bank
Redrew capital
JOURNAL TOTALS
45376115

Entries

Dr Cr
2,550.00
2,550.00

2,759.34 HINTS:
2,759.34 1 Journals should be prepared in the same sequence as the tra
2 Journal Reference Numbers should correspond to the transac
2,150.00
3 When there are multiple accounts required for debit or credit
2,150.00 ascending account number order;
4 Do not enter $ signs & do not round amounts - express values
450.00 5 Do not leave blank lines between journals;
450.00 NB: Take care with your journal entries. If you select the inco
your T-Accounts will be wrong when you post your entries to
1,855.29 accept incorrect $ values.
1,855.29

1,100.00
1,100.00

2,800.00
2,800.00

2,500.00
2,500.00

1,100.00
1,100.00

3,060.00
3,060.00

950.00
950.00

675.25
675.25

2,400.00
2,400.00

1,500.00
1,500.00

1,100.00
1,100.00

3,200.00
1,000.00
4,200.00

1,650.00
1,650.00

1,150.00
1,150.00
seating and screen
1,100.00
1,100.00

12,147.36
12,147.36

9,458.27
9,458.27

11,698.14
11,698.14

2,175.35
2,175.35

4,350.85
4,350.85

3,428.54
3,428.54

2,350.00
2,350.00

680.00
680.00

81,338.39 81,338.39
he same sequence as the transactions are presented;
uld correspond to the transaction numbers;
s required for debit or credit entries within a journal, ensure they appear in
r;
und amounts - express values in dollars & cents;
n journals;
entries. If you select the incorrect accounts for your transaction journals, then
when you post your entries to them & your 10-Column Worksheet will not
Student ID: 45376115
ASSET ACCOUNTS

100 - Cash at Bank


Date Date
Explanation Amount
2016 2016
1-Jul Opening Balance 10,763.20 1-Jul
1-Jul Unearned revenue 2,150.00 4-Jul
9-Jul Accounts Receivable 2,800.00 10-Jul
31-Jul Sales - Cinema 12,147.36 15-Jul
31-Jul Sales - Gaming 9,458.27 17-Jul
31-Jul Sales - Candy Bar 11,698.14 18-Jul
19-Jul
20-Jul
23-Jul
24-Jul
25-Jul
31-Jul
31-Jul
31-Jul

Balance c/d
(difference)
TOTAL 49,016.97 TOTAL
Balance b/d 20,725.52

130 - Prepaid Advertising


Date Date
Explanation Amount
2016 2016
1-Jul Opening Balance 1,000.00 31-Jul
19-Jul Cash at Bank 2,400.00

Balance c/d
(difference)
TOTAL 3,400.00 TOTAL
Balance b/d 3,200.00

140 - Prepaid Insurance


Date Date
Explanation Amount
2016 2016
1-Jul Opening Balance 798.59 31-Jul
15-Jul Cash at Bank 3,060.00

Balance c/d
(difference)
TOTAL 3,858.59 TOTAL
Balance b/d 3,603.59

160 - Building
Date Date
Explanation Amount
2016 2016
1-Jul Opening Balance 125,000.00

Balance c/d
(difference)
TOTAL 125,000.00 TOTAL
Balance b/d 125,000.00

170 - Equipment
Date Date
Explanation Amount
2016 2016
1-Jul Opening Balance 250,000.00
10-Jul Cash at Bank 2,500.00

Balance c/d
(difference)
TOTAL 252,500.00 TOTAL
Balance b/d 252,500.00

LIABILITY ACCOUNTS

200 - Accounts Payable


Date Date
Explanation Amount
2016 2016
31-Jul Cash at Bank 2,175.35 1-Jul
31-Jul Cash at Bank 4,350.85 1-Jul
5-Jul
31-Jul

Balance c/d
(difference) 10,024.81
TOTAL 16,551.01 TOTAL
Balance b/d

220 - Interest Payable


Date Date
Explanation Amount
2016 2016
23-Jul Cash at Bank 3,200.00 1-Jul
31-Jul

Balance c/d
3,400.50
(difference)
TOTAL 6,600.50 TOTAL
Balance b/d

240 - Wages Payable


Date Date
Explanation Amount
2016 2016
1-Jul Cash at Bank 2,550.00 1-Jul
7-Jul
14-Jul
21-Jul
28-Jul

Balance c/d
(difference) 4,400.00

TOTAL 6,950.00 TOTAL


Balance b/d

EQUITY ACCOUNTS

300 - Nicholas Robbins, Capital


Date Date
Explanation Amount
2016 2016
31-Jul Closing off Drawings 680.00 1-Jul
31-Jul
Balance c/d
(difference) 55,397.61

TOTAL 56,077.61 TOTAL


Balance b/d

REVENUE ACCOUNTS

400 - Sales - Cinema


Date Date
Explanation Amount
2016 2016
31-Jul P&L Summary 15,575.90 1-Jul
31-Jul
31-Jul

Balance c/d
0.00
(difference)
TOTAL 15,575.90 TOTAL
Balance b/d

402 - Sales - Candy Bar


Date Date
Explanation Amount
2016 2016
31-Jul P&L Summary 11,698.14 1-Jul
31-Jul

Balance c/d
(difference) 0.00
TOTAL 11,698.14 TOTAL
Balance b/d

EXPENSE ACCOUNTS

600 - Accounting Fees


Date Date
Explanation Amount
2016 2016
1-Jul Opening Balance 0.00 31-Jul
31-Jul Accounts Payable 2,350.00

Balance c/d
(difference)
TOTAL 2,350.00 TOTAL
Balance b/d 0.00

602 - Candy Bar Expense


Date Date
Explanation Amount
2016 2016
1-Jul Opening Balance 0.00 31-Jul
1-Jul Accounts Payable 2,759.34
5-Jul Accounts Payable 1,855.29

Balance c/d
(difference)
TOTAL 4,614.63 TOTAL
Balance b/d 0.00

604 - Depreciation Expense - Building


Date Date
Explanation Amount
2016 2016
1-Jul Opening Balance 0.00 31-Jul
Accumulated Depreciation -
31-Jul 250.00
Building

Balance c/d
(difference)
TOTAL 250.00 TOTAL
Balance b/d 0.00

608 - Utilities Expense


Date Date
Explanation Amount
2016 2016
1-Jul Opening Balance 0.00 31-Jul
31-Jul Utilities Payable 635.00

Balance c/d
(difference)
TOTAL 635.00 TOTAL
Balance b/d 0.00

610 - Insurance Expense


Date Date
Explanation Amount
2016 2016
1-Jul Opening Balance 0.00 31-Jul
31-Jul Prepaid Insurance 255.00

Balance c/d
(difference)
TOTAL 255.00 TOTAL
Balance b/d 0.00

612 - Leasing Expense - Cinema Seating & Screen


Date Date
Explanation Amount
2016 2016
1-Jul Opening Balance 0.00 31-Jul
25-Jul Cash at Bank 1,150.00

Balance c/d
(difference)
TOTAL 1,150.00 TOTAL
Balance b/d 0.00

614 - Licensing Expense - Nintendo


Date Date
Explanation Amount
2016 2016
1-Jul Opening Balance 0.00 31-Jul
17-Jul Cash at Bank 950.00

Balance c/d
(difference)
TOTAL 950.00 TOTAL
Balance b/d 0.00
618 - Wages Expense
Date Date
Explanation Amount
2016 2016
1-Jul Opening Balance 0.00 31-Jul
7-Jul Wages Payable 1,100.00
14-Jul Wages Payable 1,100.00
21-Jul Wages Payable 1,100.00
28-Jul Wages Payable 1,100.00

Balance c/d
(difference)
TOTAL 4,400.00 TOTAL
Balance b/d 0.00

PROFIT & LOSS SUMMARY

800 - P&L Summary Account


Date Date
Explanation Amount
2016 2016
1-Jul Opening Balance 0.00 31-Jul
31-Jul Closing off Expenses 23,355.38
31-Jul Close to P&L Summ 14,661.93

Balance c/d
(difference)
TOTAL 38,017.31 TOTAL
Balance b/d 0.00
nk
Date
Explanation Amount
2016
Wages Payable 2,550.00 1-Jul
Leasing Expense - gaming
Equipment 450.00 31-Jul
furniture -
computer/console/candybar 2,500.00
/projector
Prepaid Insurance 3,060.00
Licensing Expense -
950.00
Nintendo
Stationery & Office Supplies
675.25
Expense
Prepaid Advertising 2,400.00
Licensing Expense - Sony 1,500.00
Interest Payable & Loan
4,200.00
Payable
Utilities Payable 1,650.00
Leasing Expense - cinema
1,150.00
seating/screen
Accounts Payable 2,175.35
Accounts Payable 4,350.85
Nicholas Robbins,
680.00
Drawings

20,725.52

49,016.97 TOTAL
Balance b/d

tising
Explanation Amount
Advertising Expense 200.00

3,200.00

3,400.00

ance
Date
Explanation Amount
2016
Insurance Expense 255.00 1-Jul

3,603.59

3,858.59 TOTAL
Balance b/d

165 - Ac
Date
Explanation Amount
2016

Balance c/d
125,000.00
(difference)
125,000.00 TOTAL

nt 175 - Acc
Date
Explanation Amount
2016

Balance c/d
252,500.00
(difference)
252,500.00 TOTAL

yable
Date
Explanation Amount
2016
Opening Balance 9,586.38 31-Jul
Candy Bar Expense 2,759.34 31-Jul
Candy Bar Expense 1,855.29 31-Jul
Accounting Fees 2,350.00

Balance c/d
(difference)
16,551.01 TOTAL
10,024.81

able
Date
Explanation Amount
2016
Opening Balance 3,200.00 23-Jul
Interest Expense 3,400.50

Balance c/d
(difference)
6,600.50 TOTAL
3,400.50

able
Date
Explanation Amount
2016
Opening Balance 2,550.00 24-Jul
Wages Expense 1,100.00
Wages Expense 1,100.00
Wages Expense 1,100.00
Wages Expense 1,100.00

Balance c/d
(difference)
6,950.00 TOTAL
4,400.00

s, Capital 301
Date
Explanation Amount
2016
Opening Balance 41,415.68 1-Jul
Closing off P&L Summ 14,661.93 31-Jul
56,077.61 TOTAL
55,397.61 Balance b/d

ma
Date
Explanation Amount
2016
Opening Balance 0.00 31-Jul
Cash at Bank 12,147.36
Accounts Receivable 3,428.54

Balance c/d
(difference)
15,575.90 TOTAL
0.00

y Bar
Explanation Amount
Opening Balance 0.00
Cash at Bank 11,698.14

11,698.14
0.00

Fees
Date
Explanation Amount
2016
P&L Summary 2,350.00 1-Jul
31-Jul

0.00
2,350.00 TOTAL
Balance b/d

pense 603 - C
Date
Explanation Amount
2016
P&L Summary 4,614.63 1-Jul

0.00

4,614.63 TOTAL
Balance b/d

se - Building 60
Date
Explanation Amount
2016
P&L Summary 250.00 1-Jul
31-Jul

0.00

250.00 TOTAL
Balance b/d

ense
Explanation Amount
P&L Summary 635.00

0.00
635.00

pense
Date
Explanation Amount
2016
P&L Summary 255.00 1-Jul
31-Jul

0.00
255.00 TOTAL
Balance b/d

Seating & Screen 613 - Lea


Date
Explanation Amount
2016
P&L Summary 1,150.00 1-Jul
4-Jul

0.00

1,150.00 TOTAL
Balance b/d

- Nintendo 615
Date
Explanation Amount
2016
P&L Summary 950.00 1-Jul
20-Jul

0.00

950.00 TOTAL
Balance b/d

617
Date
2016
1-Jul
18-Jul

TOTAL
Balance b/d

nse
Explanation Amount
P&L Summary 4,400.00

0.00

4,400.00

Account
Explanation Amount
Closing off Revenue 38,017.31

0.00

38,017.31
110 - Accounts Receivable
Date
Explanation Amount Explanation
2016
Opening Balance 4,385.27 9-Jul Cash at Bank
Sales - Cinema 3,428.54

Balance c/d
(difference)
7,813.81 TOTAL
5,013.81

150 - Land
Date
Explanation Amount Explanation
2016
Opening Balance 717,580.00

Balance c/d
(difference)
717,580.00 TOTAL
717,580.00

165 - Accumulated Depreciation - Building


Date
Explanation Amount Explanation
2016
1-Jul Opening Balance
Depreciation Expense -
31-Jul
Building

15,875.00

15,875.00 TOTAL
Balance b/d

175 - Accumulated Depreciation - Equipment


Date
Explanation Amount Explanation
2016
1-Jul Opening Balance
Depreciation Expense -
31-Jul
Equipment

127,525.00

127,525.00 TOTAL
Balance b/d

210 - Unearned Revenue


Date
Explanation Amount Explanation
2016
Sales - Gaming 650.00 1-Jul Opening Balance
Sales - Gaming 480.00 1-Jul Cash at Bank
Sales - Gaming 155.00
4,565.00
5,850.00 TOTAL
Balance b/d

230 - Loan Payable


Date
Explanation Amount Explanation
2016
Cash at Bank 1,000.00 1-Jul Opening Balance

905,800.00

906,800.00 TOTAL
Balance b/d

250 - Utilities Payable


Date
Explanation Amount Explanation
2016
Cash at Bank 1,650.00 1-Jul Opening Balance
31-Jul Utilities Expense

635.00

2,285.00 TOTAL
Balance b/d

301 - Nicholas Robbins, Drawings


Date
Explanation Amount Explanation
2016
Opening Balance 0.00 31-Jul Closing off Drawings
Cash at Bank 680.00
Balance c/d
(difference)
680.00 TOTAL
0.00

401 - Sales - Gaming


Date
Explanation Amount Explanation
2016
P&L Summary 10,743.27 1-Jul Opening Balance
31-Jul Cash at Bank
31-Jul Unearned revenue
31-Jul Unearned revenue
31-Jul Unearned revenue

0.00

10,743.27 TOTAL
Balance b/d

601 - Advertising Expense


Date
Explanation Amount Explanation
2016
Opening Balance 0.00 31-Jul P&L Summary
Prepaid Advertising 200.00

Balance c/d
(difference)
200.00 TOTAL
0.00

603 - Computer Consumables Expense


Date
Explanation Amount Explanation
2016
Opening Balance 0.00 31-Jul P&L Summary

Balance c/d
(difference)
0.00 TOTAL
0.00

605 - Depreciation - Equipment


Date
Explanation Amount Explanation
2016
Opening Balance 0.00 31-Jul P&L Summary
Accumulated Depreciation -
2,525.00
Equipment

Balance c/d
(difference)
2,525.00 TOTAL
0.00
611 - Interest Expense
Date
Explanation Amount Explanation
2016
Opening Balance 0.00 31-Jul P&L Summary
Interest Payable & Loan
3,400.50
Payable

Balance c/d
(difference)
3,400.50 TOTAL
0.00

613 - Leasing Expense - Gaming Furniture


Date
Explanation Amount Explanation
2016
Opening Balance 0.00 31-Jul P&L Summary
Cash at Bank 450.00

Balance c/d
(difference)
450.00 TOTAL
0.00

615 - Licensing Expense - Sony


Date
Explanation Amount Explanation
2016
Opening Balance 0.00 31-Jul P&L Summary
Cash at Bank 1,500.00

Balance c/d
(difference)
1,500.00 TOTAL
0.00

617 - Stationery & Office Expense


Date
Explanation Amount Explanation
2016
Opening Balance 0.00 31-Jul P&L Summary
Cash at Bank 675.25

Balance c/d
(difference)
675.25 TOTAL
0.00
Amount
2,800.00
Instructions:
1. Entries must be posted to the T-Accounts in date order
2. Do not leave blank lines between entries
NB: Take care with posing your journal entries. If you have selected the incorrect accounts
for your journals, then your T-Accounts will be wrong when you post your entries to them &
your 10-Column Worksheet will not accept incorrect $ values.

5,013.81

7,813.81

Amount
717,580.00

717,580.00

Amount
15,625.00
250.00

15,875.00
15,875.00

Amount
125,000.00
2,525.00

127,525.00
127,525.00

Amount
3,700.00
2,150.00
5,850.00
4,565.00

Amount
906,800.00

906,800.00
905,800.00

Amount
1,650.00
635.00

2,285.00
635.00

Amount
680.00
0.00

680.00

Amount
0.00
9,458.27
650.00
480.00
155.00

10,743.27
0.00

Amount
200.00
0.00
200.00

Amount
0.00

0.00

0.00

Amount
2,525.00

0.00

2,525.00
Amount
3,400.50

0.00
3,400.50

Amount
450.00

0.00

450.00

Amount
1,500.00

0.00

1,500.00
Amount
675.25

0.00

675.25
Fill Fields
Date Explanation

1-Jul Opening Balance


2-Jul ASSETS
3-Jul Cash at Bank
4-Jul Accounts Receivable
5-Jul Prepaid Advertising
6-Jul Prepaid Insurance
7-Jul Land
ected the incorrect accounts 8-Jul Building
u post your entries to them & 9-Jul Accumulated Depreciation - Building
10-Jul Equipment - computer/console/candybar/projector
11-Jul Accumulated Depreciation - Equipment
12-Jul LIABILITIES
13-Jul Accounts Payable
14-Jul Unearned revenue
15-Jul Interest Payable & Loan Payable
16-Jul Utilities Payable
17-Jul Wages Payable
18-Jul EQUITY
19-Jul Nicholas Robbins, Capital
20-Jul Nicholas Robbins, Drawings
21-Jul REVENUE
22-Jul Sales - Cinema
23-Jul Sales - Gaming
24-Jul Sales - Candy Bar
25-Jul EXPENSES
26-Jul Accounting Fees
27-Jul Advertising Expense
28-Jul Candy Bar Expense
29-Jul Computer Consumables Expense
30-Jul Depreciation Expense - Building
31-Jul Depreciation Expense - Equipment
Utilities Expense
Insurance Expense
Interest Expense
Leasing Expense - cinema seating/screen
Leasing Expense - gaming furniture
Licensing Expense - Nintendo
Licensing Expense - Sony
Stationery & Office Supplies Expense
Wages Expense
P&L Summary

Closing off Revenue


Closing off Expenses
Closing off P&L Summ
Close to P&L Summ
Closing off Drawings

Adj - Advertising expired


Adj - Deposits earned
Adj - Depreciation recorded
Adj - Insurance expired
Adj - Interest accrued
Balances P&L Summary Explanation

Balance b/d Opening Balance


ASSETS
Cash at Bank
Balance c/d (difference) Accounts Receivable
Prepaid Advertising
Prepaid Insurance
Land
Building
Accumulated Depreciation - Building
Equipment - computer/console/candybar/projector
Accumulated Depreciation - Equipment
LIABILITIES
Accounts Payable
Unearned revenue
Interest Payable
Loan Payable - principal due May 2030
Wages Payable
Utilities Payable
EQUITY
Nicholas Robbins, Capital
Nicholas Robbins, Drawings
REVENUE
Sales - Cinema
Sales - Gaming
Sales - Candy Bar
EXPENSES
Accounting Fees
Advertising Expense
Candy Bar Expense
Computer Consumables Expense
Depreciation Expense - Building
Depreciation Expense - Equipment
Utilities Expense
Insurance Expense
Interest Expense
Leasing Expense - cinema seating/screen
Leasing Expense - gaming furniture
Licensing Expense - Nintendo
Licensing Expense - Sony
Stationery & Office Supplies Expense
Wages Expense

P&L Summary
Student ID:
FlixCity & Gaming
General Journal
for July 2016
Date Jnl Ref Account & Journal Details

Day Month
31 July 1 210 - Unearned Revenue
401 - Sales - Gaming
Gaming services performed on 04/07/16
31 July 2 210 - Unearned Revenue
401 - Sales - Gaming
Gaming services performed on 15/07/16
31 July 3 210 - Unearned Revenue
401 - Sales - Gaming
Gaming services performed on 27/7/16
31 July 4 611 - Interest Expense
220 - Interest Payable
Interest payable for July
31 July 5 605 - Depreciation Expense - Equipment
175 - Accumulated Depreciation - Equipment
Depreciation on equipment
31 July 6 604 - Depreciation Expense - Building
165 - Accumulated Depreciation - Building
Depreciation on building
31 July 7 601 - Advertising Expense
130 - Prepaid Advertising
Advertising expense for July
31 July 8 610 - Insurance Expense
140 - Prepaid Insurance
Insurance expense- July
31 July 9 608 - Utilities Expense
250 - Utilities Payable

JOURNAL TOTALS
45376115

Entries

Dr Cr
650.00
650.00

480.00 HINTS:
480.00 1 Journals should be prepared in the same sequence as the adjustment
2 Journal Reference Numbers should correspond to the adjustment num
155.00 When there are multiple accounts required for debit or credit entries w
3
155.00 they appear in ascending account number order;
4 Do not enter $ signs & do not round amounts - express values in dolla
3,400.50 5 Do not leave blank lines between journals;
3,400.50 NB: Take care with your journal entries. If you select the incorrect acc
journals, then your T-Accounts will be wrong when you post your entr
2,525.00 Column Worksheet will not accept incorrect $ values.
2,525.00

250.00
250.00

200.00
200.00

255.00
255.00

635.00
635.00

8,550.50 8,550.50
Fill Lists

1 July
2 August
3 September
quence as the adjustments are presented; 4 October
ond to the adjustment numbers; 5 November
or debit or credit entries within a journal, ensure 6 December
rder; 7 January
s - express values in dollars & cents; 8 February
9 March
ou select the incorrect accounts for your adjusting 10 April
g when you post your entries to them & your 10- 11 May
$ values. 12 June
13
14
15
16
17
18
19
20
21
22
23

24
25
26
27
28
29
30
31
ASSETS
100 - Cash at Bank
110 - Accounts Receivable
130 - Prepaid Advertising
140 - Prepaid Insurance
150 - Land
160 - Building
165 - Accumulated Depreciation - Building
170 - Equipment
175 - Accumulated Depreciation - Equipment
LIABILITIES
200 - Accounts Payable
210 - Unearned Revenue
220 - Interest Payable
230 - Loan Payable - principal due May 2030
240 - Wages Payable
250 - Utilities Payable
EQUITY
300 - Nicholas Robbins, Capital
301 - Nicholas Robbins, Drawings
REVENUE
400 - Sales - Cinema
401 - Sales - Gaming
402 - Sales - Candy Bar
EXPENSES
600 - Accounting Fees
601 - Advertising Expense
602 - Candy Bar Expense
603 - Computer Consumables Expense
604 - Depreciation Expense - Building
605 - Depreciation Expense - Equipment
608 - Utilities Expense
610 - Insurance Expense
611 - Interest Expense
612 - Leasing Expense - cinema seating/screen
613 - Leasing Expense - gaming furniture
614 - Licensing Expense - Nintendo
615 - Licensing Expense - Sony
617 - Stationery & Office Supplies Expense
618 - Wages Expense
800 - P & L Summary
Student ID: 45376115

FlixCity & G
10-Column W
For the month end
Account
Account Names Trial Balance
No's

Dr

ASSETS
100 Cash at Bank 20,725.52
110 Accounts Receivable 5,013.81
130 Prepaid Advertising 3,400.00
140 Prepaid Insurance 3,858.59
150 Land 717,580.00
160 Building 125,000.00
165 Accumulated Depreciation - Building
170 Equipment - computer/console/candy bar/projector 252,500.00
175 Accumulated Depreciation - Equipment
LIABILITIES
200 Accounts Payable
210 Unearned Revenue
220 Interest Payable
230 Loan Payable - principal due May 2030
240 Wages Payable
250 Utilities Payable
EQUITY
300 Nicholas Robbins, Capital
301 Nicholas Robbins, Drawings 680.00
REVENUE
400 Sales - Cinema
401 Sales - Gaming
402 Sales - Candy Bar
EXPENSES
600 Accounting Fees 2,350.00
601 Advertising Expense 0.00
602 Candy Bar Expense 4,614.63
603 Computer Consumables Expense 0.00
604 Depreciation Expense - Building
605 Depreciation Expense - Equipment
608 Utilities Expense 0.00
610 Insurance Expense
611 Interest Expense
612 Leasing Expense - cinema seating/screen 1,150.00
613 Leasing Expense - gaming furniture 450.00
614 Licensing Expense - Nintendo 950.00
615 Licensing Expense - Sony 1,500.00
617 Stationery & Office Supplies Expense 675.25
618 Wages Expense 4,400.00

Profit/Loss for period


800 P&L Summary Account
TOTALS 1,144,847.80
FlixCity & Gaming
10-Column Worksheet
For the month ended 31 July 2016
Statement of
Trial Balance Adjustments Adjusted Trial Balance
Profit or Loss

Cr Dr Cr Dr Cr Dr Cr

20,725.52
5,013.81
200.00 3,200.00
255.00 3,603.59
717,580.00
125,000.00
15,625.00 250.00 15,875.00
252,500.00
125,000.00 2,525.00 127,525.00

10,024.81 10,024.81
5,850.00 1,285.00 4,565.00
0.00 3,400.50 3,400.50
905,800.00 905,800.00
4,400.00 4,400.00
0.00 635.00 635.00

41,415.68 41,415.68
680.00

15,575.90 15,575.90 15,575.90


9,458.27 1,285.00 10,743.27 10,743.27
11,698.14 11,698.14 11,698.14

2,350.00 2,350.00
200.00 200.00 200.00
4,614.63 4,614.63

250.00 250.00 250.00


2,525.00 2,525.00 2,525.00
635.00 635.00 635.00
255.00 255.00 255.00
3,400.50 3,400.50 3,400.50
1,150.00 1,150.00
450.00 450.00
950.00 950.00
1,500.00 1,500.00
675.25 675.25
4,400.00 4,400.00

14,661.93

1,144,847.80 8,550.50 8,550.50 1,151,658.30 1,151,658.30 38,017.31 38,017.31


Statement of
Financial Position

Dr Cr

20,725.52
5,013.81
3,200.00
3,603.59
717,580.00
125,000.00
15,875.00
252,500.00
127,525.00

10,024.81
4,565.00 HINTS:
3,400.50 1 List Accounts in numerical order under headings;
905,800.00 2 Do not enter zero balances;
4,400.00 3 Do not round values;
635.00

4 Do not enter $ signs.


41,415.68
680.00
14,661.93

1,128,302.92 1,128,302.92
Fill Lists

ASSETS
100 Cash at Bank
110 Accounts Receivable
130 Prepaid Advertising
140 Prepaid Insurance
150 Land
160 Building
165 Accumulated Depreciation - Building
170 Equipment - computer/console/candybar/projector
175 Accumulated Depreciation - Equipment
LIABILITIES
200 Accounts Payable
210 Unearned Revenue
220 Interest Payable
230 Loan Payable - principal due May 2030
240 Wages Payable
250 Utilities Payable
EQUITY
300 Nicholas Robbins, Capital
301 Nicholas Robbins, Drawings
REVENUE
400 Sales - Cinema
401 Sales - Gaming
EXPENSES
600 Accounting Fees
601 Advertising Expense
602 Candy Bar Expense
603 Computer Consumables Expense
604 Depreciation Expense - Building
605 Depreciation Expense - Equipment
608 Utilities Expense
611 Interest Expense
612 Leasing Expense - cinema seating/screen
613 Leasing Expense - gaming furniture
614 Licensing Expense - Nintendo
615 Licensing Expense - Sony
617 Stationery & Office Supplies Expense

800 Profit/Loss Summary Account


Student ID:
FlixCity & Gaming
General Journal
for July 2016
Date Jnl Ref Account & Journal Details

Day Month
31 July 1 400 - Sales - Cinema
401 - Sales - Gaming
402 - Sales - Candy Bar
800 - P & L Summary
Close revenue accounts
31 July 2 800 - P & L Summary
600 - Accounting Fees
601 - Advertising Expense
602 - Candy Bar Expense
604 - Depreciation Expense - Building
605 - Depreciation Expense - Equipment
608 - Utilities Expense
610 - Insurance Expense
611 - Interest Expense
612 - Leasing Expense - cinema seating/screen
613 - Leasing Expense - gaming furniture
614 - Licensing Expense - Nintendo
615 - Licensing Expense - Sony
617 - Stationery & Office Supplies Expense
618 - Wages Expense
Close expense accounts
31 July 3 800 - P & L Summary
300 - Nicholas Robbins, Capital
Close P&L summary account/transfer profit to capital
31 July 4 300 - Nicholas Robbins, Capital
301 - Nicholas Robbins, Drawings
Close drawing accounts

JOURNAL TOTALS
45376115

Entries

Dr Cr
15,575.90
10,743.27
11,698.14
38,017.31
HINTS:
23,355.38 1 Journals should be prepared in the same sequence as the closin
2,350.00 2 Journal Reference Numbers should correspond to the closing en
200.00 When there are multiple accounts required for debit or credit ent
3
4,614.63 appear in ascending account number order;
250.00 4 Do not enter $ signs & do not round amounts - express values in
2,525.00 5 Do not leave blank lines between journals;
635.00 NB: Take care with your journal entries. If you select the incorre
255.00 journals, then your T-Accounts will be wrong when you post you
3,400.50 Worksheet will not accept incorrect $ values.
1,150.00
450.00
950.00
1,500.00
675.25
4,400.00

14,661.93
14,661.93

680.00
680.00

76,714.62 76,714.62
1
2
3
4
same sequence as the closing entries are presented; 5
correspond to the closing entry numbers; 6
quired for debit or credit entries within a journal, ensure they 7
r order; 8
amounts - express values in dollars & cents; 9
urnals; 10
ies. If you select the incorrect accounts for your closing 11
be wrong when you post your entries to them & your 10-Column 12
$ values. 13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
Fill Lists

July ASSETS
August 100 - Cash at Bank
September 110 - Accounts Receivable
October 130 - Prepaid Advertising
November 140 - Prepaid Insurance
December 150 - Land
January 160 - Building
February 165 - Accumulated Depreciation - Building
March 170 - Equipment
April 175 - Accumulated Depreciation - Equipment
May LIABILITIES
June 200 - Accounts Payable
210 - Unearned Revenue
220 - Interest Payable
230 - Loan Payable - principal due May 2030
240 - Wages Payable
250 - Utilities Payable
EQUITY
300 - Nicholas Robbins, Capital
301 - Nicholas Robbins, Drawings
REVENUE
400 - Sales - Cinema
401 - Sales - Gaming
402 - Sales - Candy Bar
EXPENSES
600 - Accounting Fees
601 - Advertising Expense
602 - Candy Bar Expense
603 - Computer Consumables Expense
604 - Depreciation Expense - Building
605 - Depreciation Expense - Equipment
608 - Utilities Expense
610 - Insurance Expense
611 - Interest Expense
612 - Leasing Expense - cinema seating/screen
613 - Leasing Expense - gaming furniture
614 - Licensing Expense - Nintendo
615 - Licensing Expense - Sony
617 - Stationery & Office Supplies Expense
618 - Wages Expense
800 - P & L Summary
Student ID: 45376115
FlixCity & Gaming
Post Closing Trial Balance
For the month ended 31 july 2016
DR
ASSETS
Cash at Bank 20,725.52
Accounts Receivable 5,013.81
Prepaid Advertising 3,200.00
Prepaid Insurance 3,603.59
Land 717,580.00
Building 125,000.00
Accumulated Depreciation - Building
Equipment - computer/console/candy bar/projector 252,500.00
Accumulated Depreciation - Equipment

LIABILITIES
Accounts Payable
Unearned Revenue
Interest Payable
Loan Payable - principal due May 2030
Wages Payable
Utilities Payable

EQUITY
Nicholas Robbins, Capital

TOTALS 1,127,622.92
6
CR

15,875.00

127,525.00

10,024.81
4,565.00
3,400.50
905,800.00
4,400.00
635.00

55,397.61

1,127,622.92
Student ID: 45376115

FlixCity & Gaming


Income Statement
For the month ended 31 July 2016

REVENUE
Sales - Cinema 15,575.90
Sales - Gaming 10,743.27
Sales - Candy Bar 11,698.14

TOTAL REVENUE 38,017.31

EXPENSES
Accounting Fees 2,350.00
Advertising Expense 200.00
Candy Bar Expense 4,614.63
Computer Consumables Expense
Depreciation Expense - Building 250.00
Depreciation Expense - Equipment 2,525.00
Utilities Expense 635.00
Insurance Expense 255.00
Interest Expense 3,400.50
Leasing Expense - cinema seating/screen 1,150.00
Leasing Expense - gaming furniture 450.00
Licensing Expense - Nintendo 950.00
Licensing Expense - Sony 1,500.00
Stationery & Office Supplies Expense 675.25
Wages Expense 4,400.00
TOTAL EXPENSES 23,355.38

NET PROFIT / (LOSS) FOR THE PERIOD 14,661.93


Student ID: 45376115

FlixCity & Gaming


Changes in Equity Statement
For the month ended 31 July 2016
Starting Capital

Capital, Nicholas Robbins- 1 July 2016 $41,415.68


Add:
Profit for month ended 31 July 2016 $14,661.93
$56,077.61

Less:
Drawings $680.00
$55,397.61
Capital, Nicholas Robbins-31 July 2016 $55,397.61
`
Student ID: 45376115

FlixCity & Gaming


Balance Sheet
As at 31 July 2016
Column1 Column2 Column3 Column4
ASSETS
Current Assets:
Cash at Bank 20,725.52
Accounts Receivable 5,013.81
Prepaid Advertising 3,200.00
Prepaid Insurance 3,603.59
TOTAL CURRENT ASSETS 32,542.92

Non-Current Assets:
Land 717,580.00
Building 125,000.00
Accumulated Depreciation-Building (15875)
Equipment - computer/console/candy bar/projector 252,500.00
Accumulated Depreciation - Equipment (127525)
TOTAL NON-CURRENT ASSETS 951,680.00
TOTAL ASSETS

LIABILITIES
Current Liabilities:
Accounts Payable 10,024.81
Unearned Revenue 4,565.00
Interest Payable 3,400.50
Wages Payable 4,400.00
Utilities Payable 635.00
TOTAL CURRENT LIABILITIES 23,025.31

Non-Current Liabilities:
Loan Payable-principal due May 2030 905,800.00
TOTAL NON-CURRENT LIABILITIES 905,800.00
TOTAL LIABILITIES

NET ASSETS

OWNER'S EQUITY
Capital, Nicholas Robbins-31 July 2016 55,397.61

TOTAL EQUITY
Column5 Column6

$984,222.92
$928,825.31

$55,397.61

$55,397.61