REQUIREMENT 1

Date Account Title and Explanation PR Debit

11/01/18 Cash 80,000
Leni, Capital
To record initial investment to the business.

11/01/18 Vehicle 60,000

Cash
Accounts Payable
To record acquisition of delivery van, partially for cash
and on account.

11/03/18 Supplies Expense 9,000

Accounts Payable
To record purchase of cleaning supplies on account.

11/05/18 Insurance Expense 12,000

Cash
To record payment of one-year insurance policy.

11/12/18 Accounts Receivable 25,000

Service Revenue
To record washing service revenue earned on account.

11/15/18 Notes Receivable 3,000

Service Revenue
To record receipt of promissory note for special washing
revenue rendered.

11/18/18 Accounts Payable 15,000

Cash
To record partial payment of delivery van and cleaning
supplies purchased on account.

11/20/18 Salaries Expense 12,000

Cash
To record payment of employees salaries.

11/21/18 Cash 14,000

 Accounts Receivable
To record partial collection of November 12 account.

11/25/18 Accounts Receivable 30,000

Service Revenue
To record washing service revenue earned on account.

11/30/18 Utilities Expense 2,000

Cash
To record payment of gas and oil for the the month.

11/30/18 Leni, Drawings 6,000

Cash
To record drawing of owner for the month.
Credit Cash Accounts Receivable
11/01 80,000 11/01 30,000 11/12 25,000 11/21 14,000
80,000 11/21 14,000 11/05 12,000 Total 25,000 Total 14,000
11/18 15,000 Bal. 11,000
11/20 12,000
11/30 2,000
30,000 11/30 6,000
30,000 Total 94,000 Total 77,000
Bal. 17,000

Notes Receivable Vehicle

11/15 3,000 11/01 60,000
9,000 Bal. 3,000 Bal. 60,000

Accounts Payable Leni, Capital

11/18 15,000 11/01 30,000 11/01 80,000
12,000 9,000 Bal. 80,000
Total 15,000 Total 39,000 CJE 4 6,000 CJE 3 2,530
Bal. 24,000 Total 6,000 Total 82,530
Bal. 76,530
25,000
Leni, Drawings Service Revenue
11/30 6,000 11/12 25,000
Bal 6,000 CJE 4 6,000 11/15 3,000
3,000 Bal. - CJE 1 28,000 Total 28,000
Bal. -

Supplies Expense Insurance Expense

11/03 9,000 11/05 12,000
15,000 Total 9,000 AJE d 5,000 Total 12,000 AJE b 11,000
Total 4,000 CJE 2 4,000 Total 1,000 CJE 2 1,000
Bal. - Bal. -
12/01 5,000 12/01 11,000
(RJE 3) (RJE 1)
12,000
Salaries Expense Utilities Expense
11/20 12,000 11/30 2,000
Total 12,000 Total 2,000 CJE 2 2,000
14,000 AJE e 6,000 Bal. -
Total 18,000 CJE 2 18,000
Bal. -
12/01 6,000
(RJE 4)

30,000 Depreciation Expense Accumulated Depreciation

AJE a 500 AJE a 500
Total 500 CJE 2 500 Bal. 500
Bal. -
2,000
Prepaid Insurance Interest Receivable
AJE b 11,000 AJE c 30
Bal. 11,000 12/01 11,000 Bal. 30 12/01 30
6,000 (RJE 1) (RJE 2)

Interest Income Supplies

AJE c 30 AJE d 5,000
CJE 1 30 Total 30 Bal. 5,000 12/01 5,000
Bal. - (RJE 3)
12/01 30
(RJE 2)

Salaries Payable Income Summary

AJE e 6,000 CJE 2 25,500 CJE 1 28,030
12/01 6,000 Bal. 6,000 CJE 3 2,530 Bal. 2,530
(RJE 4) Bal. -
REQUIREMENT 2
Leni Washing Services
Unadjusted Trial Balance
November 30, 2018

Account Titles Debit Credit

Cash 17,000
Accounts Receivable 11,000
Notes Receivable 3,000
Vehicle 60,000
Accounts Payable 24,000
Leni, Capital 80,000
Leni, Drawings 6,000
Service Revenue 28,000
Supplies Expense 9,000
Salaries Expense 12,000
Insurance Expense 12,000
Utilities Expense 2,000
Totals 132,000 132,000
REQUIREMENT 3
Leni Washing Services
Worksheet
For the Month Ended November 30, 2018

Unadjusted Adjusted
Trial Balance Adjustments Trial Balance
Account Titles Debit Credit Debit Credit Debit
Cash 17,000 17,000
Accounts Receivable 11,000 11,000
Notes Receivable 3,000 3,000
Vehicle 60,000 60,000
Accounts Payable 24,000
Leni, Capital 80,000
Leni, Drawings 6,000 6,000
Service Revenue 28,000
Supplies Expense 9,000 d. 5,000 4,000
Salaries Expense 12,000 e. 6,000 18,000
Insurance Expense 12,000 b. 11,000 1,000
Utilities Expense 2,000 2,000
Totals 132,000 132,000
Adjustments:
Depreciation Expense a. 500 500
Accumulated Depreciation a. 500
Prepaid Insurance b. 11,000 11,000
Interest Receivable c. 30 30
Interest Income c. 30
Supplies d. 5,000 5,000
Salaries Payable e. 6,000
Totals 22,530 22,530 138,530
Profit
Totals
r 30, 2018

Adjusted Income Statement of

Trial Balance Statement Financial Position
Credit Debit Credit Debit Credit
17,000
11,000
3,000
60,000
24,000 24,000
80,000 80,000
6,000
28,000 28,000
4,000
18,000
1,000
2,000

500
500 500
11,000
30
30 30
5,000
6,000 6,000
138,530 25,500 28,030 113,030 110,500
2,530 2,530
28,030 28,030 113,030 113,030
REQUIREMENT 4
Leni Washing Services
Statement of Income
For the Month Ended November 30, 2018

Revenues:
Service Revenue 28,000
Interest Income 30 28,030

Expenses:
Supplies Expense 4,000
Salaries Expense 18,000
Depreciation Expense 500
Utilities Expense 2,000
Insurance Expense 1,000 25,500
Net Income 2,530
 Leni Washing Services
Statement of Changes in Equity
For the Month Ended November 30, 2018

Owner's Capital, 11/01/18 80,000

Additional Investment -
Total 80,000
Net Income for the period 2,530
Total 82,530
Withdrawal - 6,000
Owner's Capital, 11/30/18 76,530
 Leni Washing Services
Statement of Financial Position
November 30, 2018

Assets
Cash 17,000
Accounts Receivable 11,000
Notes Receivable 3,000
Interest Receivable 30
Supplies 5,000
Prepaid Insurance 11,000
Vehicle 60,000
Accumulated Depreciation - 500 59,500
Total Assets 106,530

Liabilities and Owner's Capital

Accounts Payable 24,000
Salaries Payable 6,000
Total Liabilities 30,000

Leni, Capital 76,530

Total Owner's Capital 76,530
Total Liabilities and Owner's Capital 106,530
REQUIREMENT 5

Date Account Title and Explanation PR Debit

11/30/18 Depreciation Expense 500
Accumulated Depreciation
To record depreciation expense for the month.

11/30/18 Prepaid Insurance 11,000

Insurance Expense
To record unexpired insurance for the month.

11/30/18 Interest Receivable 30

Interest Income
To record intrest earned during the month.

11/30/18 Supplies 5,000

Supplies Expense
To record unused insurance for the month.

11/30/18 Salaries Expense 6,000

Salaries Payable
To record accrued salaries for the month.

Note : For General Ledger posting of AJE, please refer to "Journalizing and Posting" sheet (the first worksheet).
 Credit

500

11,000

30

5,000

6,000

worksheet).
REQUIREMENT 6

Date Account Title and Explanation PR Debit

11/30/18 Service Revenue 28,000
Interest Income 30
Income Summary
To close nominal accounts with credit balances to
income summary account. (CJE 1)

11/30/18 Income Summary 25,500

Supplies Expense
Salaries Expense
Depreciation Expense
Utilities Expense
Insurance Expense
To close nominal accounts with debit balances to
income summary account. (CJE 2)

11/30/18 Income Summary 2,530

Leni, Capital
To close income summary account to capital account.
(CJE 3)

11/30/18 Leni, Capital 6,000

Leni, Drawings
To close owner's drawing account to capital account.
(CJE 4)
Note : For General Ledger posting of CJE, please refer to "Journalizing and Posting" sheet (the first worksheet).
 Credit

28,030

4,000
18,000
500
2,000
1,000

2,530

6,000

worksheet).
REQUIREMENT 7
Leni Washing Services
Pots-Closing Trial Balance
November 30, 2018

Account Titles Debit Credit

Cash 17,000
Accounts Receivable 11,000
Notes Receivable 3,000
Interest Receivable 30
Supplies 5,000
Prepaid Insurance 11,000
Vehicle 60,000
Accumulated Depreciation 500
Accounts Payable 24,000
Salaries Payable 6,000
Leni, Capital 76,530
Totals 107,030 107,030
REQUIREMENT 8

Date Account Title and Explanation PR Debit

12/01/18 Insurance Expense 11,000
Prepaid Insurance
To reverse the adjusting entry made on November 30, 2018.
(RJE 1)

12/01/18 Interest Income 30

Interest Receivable
To reverse the adjusting entry made on November 30, 2018.
(RJE 2)

12/01/18 Supplies Expense 5,000

Supplies
To reverse the adjusting entry made on November 30, 2018.
(RJE 3)

12/01/18 Salries Payable 6,000

Salaries Expense
To reverse the adjusting entry made on November 30, 2018.
(RJE 4)
Note : For General Ledger posting of RJE, please refer to "Journalizing and Posting" sheet (the first worksheet).
 Credit

11,000

30

5,000

6,000

worksheet).