Rogue Trader inc.
Mauricio Montoya
Journal Entries
1) Equipment $120,000
Notes Payable $100,000
Gain $20,000
2) Advertising Expense $3,000
Cash $3,000
3) Prepaid Insurance $4,800
Cash $4,800
4) Interest Expense $2,467
Mortgage Payable $3,533
Cash $6,000 Adjustments
5) Acct. Receivable $120,000
Sales Revenue $120,000
6) Cash $360,000
Common Stock $300,000
Excess Par $60,000
7) Wage Expenses $7,000
Cash $7,000
8) Equipment $200,000
Notes Payable $200,000
9) Sales Return $5,000
Acct. Receivable $5,000
10) Interest Expense $2,437
Mortgage Payable $7,563
Cash $10,000
11) Inventory $14,000
Cash $5,000
Acct. Payable $9,000
12) Cash $115,000
Acct. Recievable$115,000
13) Accounts Payable $9,000
Cash $9,000
14) Cash $160,000
Sales Revenue $160,000
15) Dividend $84,000
Dividend Payable $84,000
October 10, 2011
16) Pre-Paid Rent $5,000
Cash $5,000
17) Supply Expense $900
Supply $900
18) Inventory Exp. $10,000
Inventory $10,000
19) Wage Expense $14,000
Cash $14,000
a) December Mortgage Interest
 Interest Expense $2,374
Interest Payable $2,374
b) Interest on 10% Note (Oct. 1)
 Interest Expense $2,500
Interest Payable $2,500
c) Equipment Depreciation
 Depreciation Exp. $6,000
Acc. Depreciation $6,000
d) Interest on 15% Note (Nov. 1)
 Interest Expense $5,000
Interest Payable $5,000
e) Equipment Depreciation
 Depreciation Expense $3,333
Acc. Depreciation $3,333
f) Interest on 6% Note
 Interest Expense $150
Interest Payable $150
g) Insurance Adjustment
 Insurance Exp. $600
Prepaid Insurance $600
h) Building Expense
 Dep. Expense (Bldg.) $5,000
Acc. Depreciation $5,000
i) Income Taxes
 Tax Expense $42,000
Tax Payable $42,000