General Journal

DATE DESCRIPTION POST REF

1 2006
2 Dec 1 Cash in Bank
3 Jennifer Rachel, Capital
4 Memo 1
5 2 Office Equipment
6 Cash in Bank
7 Check 101
8 2 Office Supplies
9 Cash in Bank
10 Check 102
11 5 Instructional Equipment
12 Cash in Bank
13 Check 103
14 5 Cash in Bank
15 Private Lessons Fee
16 Receipt 1
17 6 Instructional Equipment
18 Accts Payable - Educational Software
19 Invoice 395
20 8 Accounts Rec - Carla DiSario
21 Group Lessons Fee
22 Invoice 101
23 9 Rent Expense
24 Cash in Bank
25 Check 104
26 10 Accts Rec - George McGarty
27 Group Lessons Fee
28 Invoice 102
29 10 Office Equipment
30 Accts Payable - T&N School Equipment
31 Invoice 5495
32 11 Cash in Bank
33 Private Lessons Fee
34 Receipt 2
35 13 Cash in Bank
36 Acts Rec - Carla DiSario
37 Receipt 3
38
39
 Page: 1
DEBIT CREDIT

25,000
25,000

525
525

73
73

13,924
13,924

950
950

8,494
8,494

36
36

850
850

275
275

2,375
2,375

695
695

36
36
 General Journal
DATE DESCRIPTION POST REF
1 2006
2 Dec 14 Accts Pay - Educational Software
3 Cash in Bank
4 Check 105
5 15 Maintenance Expense
6 Cash in Bank
7 Check 106
8 18 Jennifer Rachel, Withdrawals
9 Cash in Bank
10 Check 107
11 20 Utilities Expense
12 Cash in Bank
13 Check 108
14 24 Miscellaneous Expense
15 Cash in Bank
16 Check 109
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
 Page: 2
DEBIT CREDIT

200
200

750
750

500
500

183
183

45
45
 General Journal
DATE DESCRIPTION POST REF
1 2006
2 Dec 1 Cash in Bank 101
3 Jennifer Rachel, Capital 301
4 Memo 1
5 2 Office Equipment 150
6 Cash in Bank 101
7 Check 101
8 2 Office Supplies 140
9 Cash in Bank 101
10 Check 102
11 5 Instructional Equipment 155
12 Cash in Bank 101
13 Check 103
14 5 Cash in Bank 101
15 Private Lessons Fee 405
16 Receipt 1
17 6 Instructional Equipment 155
18 Accts Payable - Educational Software 210
19 Invoice 395
20 8 Accounts Rec - Carla DiSario 110
21 Group Lessons Fee 401
22 Invoice 101
23 9 Rent Expense 515
24 Cash in Bank 101
25 Check 104
26 10 Accts Rec - George McGarty 120
27 Group Lessons Fee 401
28 Invoice 102
29 10 Office Equipment 150
30 Accts Payable - T&N School Equipment 215
31 Invoice 5495
32 11 Cash in Bank 101
33 Private Lessons Fee 405
34 Receipt 2
35 13 Cash in Bank 101
36 Acts Rec - Carla DiSario 110
37 Receipt 3
38
39
 Page: 1
DEBIT CREDIT

25,000
25,000

525
525

73
73

13,924
13,924

950
950

8,494
8,494

36
36

850
850

275
275

2,375
2,375

695
695

36
36
 General Journal
DATE DESCRIPTION POST REF
1 2006
2 Dec 14 Accts Pay - Educational Software 210
3 Cash in Bank 101
4 Check 105
5 15 Maintenance Expense 505
6 Cash in Bank 101
7 Check 106
8 18 Jennifer Rachel, Withdrawals 305
9 Cash in Bank 101
10 Check 107
11 20 Utilities Expense 525
12 Cash in Bank 101
13 Check 108
14 24 Miscellaneous Expense 510
15 Cash in Bank 101
16 Check 109
17 31 Miscellaneous Expense 510
18 Cash in Bank 101
19 Dec Bank Statement
20 Closing Entries
21 31 Group Lessons Fees 401
22 Privat Lessons Fees 405
23 Income Summary 310
24 31 Income Summary 310
25 Maintenance Expense 505
26 Miscellaneous Expense 510
27 Rent Expense 515
28 Utiliites Expense 525
29 31 Income Summary 310
30 Jennifer Rachel, Capital 301
31 31 Jennifer Rachel, Capital 301
32 Jennifer Rachel, Withdrawals 305
33
34
35
36
37
38
39
 Page: 2
DEBIT CREDIT

200
200

750
750

500
500

183
183

45
45

15
15

311
1,645
1,956
1,843
750
60
850
183
113
113
500
500
ACCOUNT Cash in Bank ACCOUNT NO. 101
POST BALANCE
DATE DESCRIPTION REF DEBIT CREDIT DEBIT CREDIT
2006
Dec 1 G1 25,000 25,000
2 G1 525 24,475
2 G1 73 24,402
5 G1 13,924 10,478
5 G1 950 11,428
9 G1 850 10,578
11 G1 695 11,273
13 G1 36 11,309
14 G2 200 11,109
15 G2 750 10,359
18 G2 500 9,859
20 G2 183 9,676
24 G2 45 9,631
31 G2 15 9,616
ACCOUNT Accounts Receivable - Carla DiSario ACCOUNT NO. 110
POST BALANCE
DATE DESCRIPTION REF DEBIT CREDIT DEBIT CREDIT
2006
DEC 8 G1 36 36
13 G1 36 ------

ACCOUNT Accounts Receivable - George McGarty ACCOUNT NO. 120

POST BALANCE
DATE DESCRIPTION REF DEBIT CREDIT DEBIT CREDIT
2006
DEC 10 G1 275 275

ACCOUNT Office Supplies ACCOUNT NO. 140

POST BALANCE
DATE DESCRIPTION REF DEBIT CREDIT DEBIT CREDIT
2006
DEC 2 G1 73 73
ACCOUNT Office Equipment ACCOUNT NO. 150
POST BALANCE
DATE DESCRIPTION REF DEBIT CREDIT DEBIT CREDIT
2006
DEC 2 G1 525 525
10 G1 2,375 2,900

ACCOUNT Instructional Equipment ACCOUNT NO. 155

POST BALANCE
DATE DESCRIPTION REF DEBIT CREDIT DEBIT CREDIT
2006
DEC 5 G1 13,924 13,924
6 G1 8,494 22,418

ACCOUNT Accounts Payable - Educational Software ACCOUNT NO. 210

POST BALANCE
DATE DESCRIPTION REF DEBIT CREDIT DEBIT CREDIT
2006
DEC 6 G1 8,494 8,494
14 G2 200 8,294
ACCOUNT Accounts Payable - T&N School Equipment ACCOUNT NO. 205
POST BALANCE
DATE DESCRIPTION REF DEBIT CREDIT DEBIT CREDIT
2006
DEC 10 G1 2,375
75 2,375

ACCOUNT Jennifer Rachel, Capital ACCOUNT NO. 301

POST BALANCE
DATE DESCRIPTION REF DEBIT CREDIT DEBIT CREDIT
2006
DEC 1 G1 25,000 25,000
31 Closing Entry G2 113 25,113
31 Closing Entry G2 500 24,613

ACCOUNT Jennifer Rachel, Withdrawals ACCOUNT NO. 305

POST BALANCE
DATE DESCRIPTION REF DEBIT CREDIT DEBIT CREDIT
2006
DEC 18 G1 500 500
31 Closing Entry G2 500 ------
ACCOUNT Income Summary ACCOUNT NO. 310
POST BALANCE
DATE DESCRIPTION REF DEBIT CREDIT DEBIT CREDIT
2006
DEC 31 Closing Entry G2 1,956 1,956
31 Closing Entry G2 1,843 113
31 Closing Entry G2 113 ----- -----

ACCOUNT Group Lessons Fees ACCOUNT NO. 401

POST BALANCE
DATE DESCRIPTION REF DEBIT CREDIT DEBIT CREDIT
2006
DEC 8 G1 36 36
10 G1 275 311
31 Closing Entry G2 311 -----
ACCOUNT Web Server Fees ACCOUNT NO. 405
POST BALANCE
DATE DESCRIPTION REF DEBIT CREDIT DEBIT CREDIT
2006
DEC 5 G1 950 950
11 G1 695 1,645
31 Closing Entry G2 1,645 -----

ACCOUNT Maintenance Expense ACCOUNT NO. 505

POST BALANCE
DATE DESCRIPTION REF DEBIT CREDIT DEBIT CREDIT
2006
DEC 15 G2 75 75
31 Closing Entry G2 75 -----
ACCOUNT Miscellaneous Expense ACCOUNT NO. 510
POST BALANCE
DATE DESCRIPTION REF DEBIT CREDIT DEBIT CREDIT
2006
DEC 24 G2 45 45
31 G2 15 60
31 Closing Entry G2 60 -----

ACCOUNT Rent Expense ACCOUNT NO. 515

POST BALANCE
DATE DESCRIPTION REF DEBIT CREDIT DEBIT CREDIT
2006
DEC 9 G1 850 850
31 Closing Entry G2 850 -----

ACCOUNT Utilities Expense ACCOUNT NO. 525

POST BALANCE
DATE DESCRIPTION REF DEBIT CREDIT DEBIT CREDIT
2006
DEC 20 G2 183 183
31 Closing Entry G2 183 -----
 Fast Track Tutoring Service
Work Sheet
For the Month Ended December 31, 2006

ACCT TRIAL BALANCE INCOME STATEMENT BALANCE SHEET

NO ACCOUNT NAME DEBIT CREDIT DEBIT CREDIT DEBIT CREDIT
1 101 Cash in Bank 9,616 9,616
2 110 Accts Rec - Jcarla DiSario -------- --------
3 120 Accts Rec - George Mc Garty 275 275
4 140 Office Supplies 73 73
5 150 Office Equipment 2,900 2,900
6 155 Instuctional Equipment 22,418 22,418
7 210 Accts Payable - Educational Software 8,294 8,294
8 215 Accounts Payable - T&N School Equipment 2,375 2,375
9 301 Jennifer Rachel, Capital 25,000 25,000
10 305 Jennifer Rachel, Withdrawals 500 500
11 310 Income Summary -------- --------
12 401 Group Lessons Fees 311 311
13 405 Private Lessons Fees 1,645 1,645
14 505 Maintenance Expense 750 750
15 510 Miscellaneous Expense 60 60
16 515 Rent Expense 850 850
17 525 Utilities Expense 183 183
18 37,625 37,625 1,843 1,956 35,782 35,669
19 Net Income 113 113
20 1,956 1,956 35,782 35,782
Tutoring Service
k Sheet
ed December 31, 2006

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
 Fast Track Tutoring Service
Income Statement
For the Month Ended December 31, 2006

Revenue:
Group Lessons Fee 311
Private Lessons Fees 1,645
Total Revenue 1,956
Expenses:
Maintenance Expense 750
Miscellaneous Exopense 60
Rent Expense 850
Utilities Expense 183
Total Expenses 1,843
Net Income 113
 Fast Track Tutoring Service
Staement of Changes in Owner's Equity
For the Month Ended December 31, 2006

Beginning Capital, December 1, 2006 -------

Add: Investments 25,000
Net Income 113
Total Increase in Capital 25,113
Subtotal 25,113
Less: Withdrawals 500
Ending Capital, December 31, 2006 24,613
 Fast Track Tutoring Service
Balance Sheet
December 31, 2006

Assets
Cash in Bank 9,616
Accounts Receivable - George McGarty 275
Office Supplies 73
Office Equipment 2,900
Instructional Equipment 22,418
Total Assets 35,282
Liabilities
Accounts Payable - Educational Software 8,294
Accounts Payable - T&N School Equipment 2,375
Total Liabilities 10,669
Owner's Equity
Jennifer Rachel, Capital 24,613
Total Liabilities & Owner's Equity 35,282
 Fast Track Tutoring Service
Post Closing Trial Balance
December 31, 2006

Cash in Bank 9,616

Accts Rec - George McGarty 275
Office Supplies 73
Office Equipment 2,900
Instructional Equipment 22,418
Accts Payable - Educational Software 8,294
Accts Payable - T&N School Equipment 2,375
Jeniffer Rachel, Capital 24,613
Totals 35,282 35,282