Date Description Post. Ref.

Debit Credit
Nov.1 Chris Clark Deposited $25,000 in a bank account in the name of Net Solutions
Nov.1 Cash 25,000
Capital (Chris Clark) 25,000
Chris Clark Invested in Net Solutions
Nov.5 Net Solutions Paid $20,000 for the purshase of land as a future building side
Nov. 5 Land 20,000
Cash 20,000
Purchased Land for Cash
Nov.10 Net Solutions Purchased Supplies on account for $1,350
Nov.10 Supplies 1,350
Accounts Payable 1,350
Purchased Supplies on Account
Nov.18 Net Solutions received cash of $7,500 from customers for services provided
Nov.18 Cash 7,500
Fee Earned 7,500
Cash Received for Services provided
Nov.30 Net Solutions paid the following expenses: Wages $2,125, rent $800,
utilities $450, and Miscellaneous $275.
Nov.30 Wages Exp 2,125
Rent Exp 800
Utilities Exp 450
Misc Exp 275
Cash 3,650
Paid expenses thorugh cash
Nov.30 Net Solutions paid creditors $950
Nov. 30 Account Payable
Cash 950
Paid creditors 950
Nov.30 Chris Clark determined that the cost of supplies on hand at Nov.30 was $550
Nov. 30 Supplies Expense 800
Supplies 800
Used Supplies of $800 in November
Nov.30 Chris Clark withdrew $2,000 from Net Solutions for personal use
Nov.30 Drawing (Chris Clark) 2000
Cash 2000
Drawing of $2000 for personal use
Dec.1 Net Solutions paid a premium of $2,400 for an insurance policy for liability, thef
and fire. The policy covers a one year period
Dec.1 Prepaid Insurance 2,400
Cash 2,400
Bought insurance policy for a year
Dec.1 Net Solutions paid rent for Dec. $800. Was previuosly paid at end of month
Dec.1 Rent Exp 800
 Cash 800

Dec.4 Net Solutions purchased office equipment on account from Executive Supply Co.
For $1,800
Dec. 4 Office Equipment 1,800
Account Payable 1,800
Purchased Office Equipment on Account
Dec.6 Net Solutions paid $180 for a newspaper advertisement
Dec. 6 Advertising Expense 180
Cash 180
Advertising Expense
Dec.11 Net Solutions paid creditors $400
Dec. 11 Accounts payable 400
Cash 400
Paid Creditors
Dec.13 Net Solutions paid a receptionist and a part-time assistant $950 for 2 weeks wages
Dec. 13 Wages Expense 950
Cash 950
Wages paid
Dec.16 Net Solutions received $3,100 from fees earned for the first half of December
Dec. 16 Cash 3,100
Fees Earned 3,100
Fees earned
Dec.16 Fees earned on account totaled $1,750 for the first half of December
Dec. 16 Accounts Receivables 1,750
fees Earned 1,750

Dec.16 Net Solutions paid $900 to Executive Supply Co. on the $1,800 debt owed from the
December 4 transaction
Dec.16 Accounts Payable 900
Cash 900
Paid creditors
Dec.21 Net Solutions received $650 from the customers in payment of their account
Dec. 21 Cash 650
Accounts Receivables 650
Collected money from debtors
Dec.21 Net Solutions paid $1,450 for the supplies
Dec.21 Supplies 1,450
Cash 1,450
Bought Supplies
Dec.27 Net Solutions paid a receptionist and a part-time assistant $1,250 for 2 weeks wages
Dec.27 Wages Expense 1,250
Cash 1,250
Paid Wages
Dec.31 Net Solutions paid its $310 telephone bill for the month
Dec. 31 Telephone Expense 310
Cash 310
Telephone Expense Paid
Dec.31 Net Solutions paid its $225 electric bill for the month
Dec. 31 Electic Expense 225
Cash 225
Electic Expense Paid
Dec.31 Net Solutions received $2,870 from fees earned for the second half of December
Dec.31 Cash 2870
Fees Earned 2870
Received cash from Fees Earned
Dec.31 Fees Earned on account totaled $1,120 for the second half of December
Dec. 31 Account Receivables 1,120
Fees Earned 1,120

Dec.31 Chris Clark withdrew $2,000 for personal use

Dec. 31 Drawing (Chris Clark) 2000
Cash 2000