GENERAL JOURNAL

Date Account Titles and Explanation Debit Credit

May. 31 Supplies Expense........................................................... 900
Supplies..................................................................... 900
31 Utilities Expense............................................................ 250
Accounts Payable...................................................... 250
31 Insurance Expense......................................................... 150
Prepaid Insurance...................................................... 150
31 Unearned Service Revenue........................................... 1,600
Service Revenue........................................................ 1,600
31 Salaries and Wages Expense.......................................... 1,104
Salaries and Wages Payable...................................... 1,104
31 Depreciation Expense.................................................... 190
Accumulated Depreciation - Equipment................... 190
31 Accounts Receivable...................................................... 1,700
Service Revenue........................................................ 1,700
 Trial Balance

Debit Credit
101 Cash 4,500
112 Acc Rec 6,000
126 Supplies 1,900
130 Prepaid Insurance 3,600
149 Equipment 11,400
150 Accumulated Depreciation Equipment
201 Accounts Payable 4,500
209 Unearned Service Revenue 2,000
212 Salaries and Wages Payable
311 Share Capital - Ordinary 18,700
400 Service Revenue 9,500
631 Supplies Expense
717 Depreciation Expense
722 Insurance Expense
726 Salaries and Wages Expense 6,400
729 Rent Expense 900
732 Utilities Expense
34,700 34,700
 Adjusted
Debit Credit
4,500
7,700
1,000
3,450
11,400
190
4,750
400
1,104
18,700
12,800
900
190
150
7,504
900
250
37,944 37,944
 GENERAL JOURNAL
Date Account Titles and Explanation
May. 31 Insurance Expense...................................................
Prepaid Insurance................................................
31 Supplies Expense.....................................................
Supplies...............................................................
31 Depreciation Expense..............................................
Accumulated Depreciation—Buildings...............
Accumulated Depreciation—Equipment............
31 Interest Expense......................................................
Interest Payable...................................................
31 Unearned Rent Revenue..........................................
Rent Revenue......................................................
31 Salaries and Wages Expense....................................
Salaries and Wages Payable................................

Income Statement
Revenue
Rent Revenue 12,500
Expenses
Advertising Expense 600
Depreciation Expense 425
Supplies Expense 1,330
Interest Expense 200
Insurance Expense 200
Salaries and Wages Expense 4,050
Utilities Expense 900
Total expenses 7,705
Net income 4,795

Retained Earnings Statement

Retained earnings, May 1.........................
Add: Net income....................................... 4,795
Less: Dividens............................................ 1,000
Retained earnings, May 31....................... 3,795

Statement of Financial Position

Assets
Land
Buidings 60,000
Accumulated Depreciation - Buildings -300
Equipment 14,000
Accumulated Depreciation - Equipment -125
Prepaid Insurance
Supplies
Cash
Total assets
Equity and Liabilities
Equity
Share Capital - Ordinary 41,380
Retained earnings, May 31 3,795
Total equity
Liabilities
Accounts Payable 4,700
Unearned Rent Revenue 1,100
Salaries and Wages Payable 750
Interest Payable 200
Mortgage Payable 40,000
Total liabilities
Total equity and liabilities
 Trial balance
Debit Credit Adjusted
200 Debit Credit Debit
200 Cash 3,400 3,400
1,330 Supplies 2,080 750
1,330 Prepaid Insurance 2,400 2,200
425 Land 12,000 12,000
300 Buidings 60,000 60,000
125 Accumulated Depreciation - Buildings
200 Equipment 14,000 14,000
200 Accumulated Depreciation - Equipment
2,200 Accounts Payable 4,700
2,200 Unearned Rent Revenue 3,300
750 Salaries and Wages Payable
750 Interest Payable
Mortgage Payable 40,000
Share Capital - Ordinary 41,380
Dividends 1,000 1,000
Rent Revenue 10,300
Advertising Expense 600 600
Depreciation Expense 425
Supplies Expense 1,330
Interest Expense 200
Insurance Expense 200
Salaries and Wages Expense 3,300 4,050
Utilities Expense 900 900
99,680 99,680 101,055

12,000

59,700
13,875
2,200
750
3,400
91,925

45,175

46,750
91,925
Adjusted
Credit

300

125
4,700
1,100
750
200
40,000
41,380

12,500

101,055
 GENERAL JOURNAL
Date Account Titles and Explanation
Sep. 30 Accounts Receivable................................................
Service Revenue..................................................
30 Supplies Expense.....................................................
Supplies...............................................................
30 Rent Expense...........................................................
Prepaid Expense..................................................
30 Depreciation Expense..............................................
Accumulated Depreciation—Equipment............
30 Salaries and Wages Expense....................................
Salaries and Wages Payable................................
30 Interest Expense......................................................
Interest Payable...................................................
30 Unearned Rent Revenue..........................................
Rent Revenue......................................................

Income Statement
Revenue
Service Revenue 17,100
Rent Revenue 2,860
Total revenue 19,960
Expenses
Salaries and Wages Expense 8,725
Rent Expense 3,600
Depreciation Expense 700
Supplies Expense 850
Utilities Expense 1,510
Interest Expense 100
Total expenses 15,485
Net income 4,475

Retained Earnings Statement

Retained earnings, July 01, 2020
Add: Net income 4475.000
Less: Dividends 1600.000
Retained earnings, September 30, 2020 2,875

Statement of Financial Position

Assets
Equipment 18,000
Accumulated Depreciation - Equipment (700)
Prepaid Rent
Supplies
Accounts Receivable
Cash
Total assets
Equity and Liabilities
Equity
Share Capital - Ordinary 22,000
Retained earnings, September 30, 2020 2,875
Total equity
Liabilities
Notes Payable 10,000
Accounts Payable 2,500
Salaries and Wages Payable 725
Interest Payable 100
Unearned Rent Revenue 450
Total liabilities
Total equity and liabilities
 Adjusted Trial Balance
Debit Credit Debit Credit
1,100 Cash..................................................................... 8,700
1,100 Accounts Receivable........................................... 11,500
850 Supplies............................................................... 650
850 Prepaid Rent........................................................ 500
1,700 Equipment........................................................... 18,000
1,700 Accumulated Depreciation—Equipment............ 700
700 Notes Payable..................................................... 10,000
700 Accounts Payable................................................ 2,500
725 Salaries and Wages Payable................................ 725
725 Interest Payable.................................................. 100
100 Unearned Rent Revenue..................................... 450
100 Share Capital—Ordinary..................................... 22,000
1,450 Dividends............................................................. 1,600
1,450 Service Revenue.................................................. 17,100
Rent Revenue...................................................... 2,860
Salaries and Wages Expense............................... 8,725
Rent Expense....................................................... 3,600
Depreciation Expense......................................... 700
Supplies Expense................................................. 850
Utilities Expense.................................................. 1,510
Interest Expense................................................. 100
56,435 56,435
17,300
500
650
11,500
8,700
38,650

24,875

13,775
38,650
No. Date Account Titles and Explanation Debit Credit
(1) Dec. 31 Insurance Expense.............................. 4,840
Prepaid Insurance.......................... 4,840
(2) 31 Unearned Rent Revenue.................... 75,500
Rent Revenue................................. 75,500
(3) 31 Interest Expense................................. 1,200
Interest Payable............................. 1,200
(4) Salaries and Wages Expense.............. 2,000
Salaries and Wages Payable........... 2,000
No. Date Account Titles and Explanation Debit Credit
(1) 01/06/2020 Prepaid Insurance.................................................. 1,800
Cash................................................................... 1,800
(2) 31/08/2020 Prepaid Rent.......................................................... 6,500
Cash................................................................... 6,500
(3) 04/09/2020 Cash....................................................................... 3,600
Unearned Service Revenue............................... 3,600
(4) 30/11/2020 Prepaid Cleanning................................................. 2,000
Cash................................................................... 2,000
(5) 05/12/2020 Cash....................................................................... 1,500
Unearned Service Revenue............................... 1,500
(1) 31/12/2020 Insurance Expense................................................. 1,050
Prepaid Insurance............................................. 1,050
(2) 31/12/2020 Rent Expense......................................................... 5,200
Prepaid Rent..................................................... 5,200
(3) 31/12/2020 Unearned Service Revenue................................... 1,600
Service Revenue................................................ 1,600
(4) 31/12/2020 Maintenance and Repair Expense......................... 1,000
Prepaid Cleanning............................................. 1,000
(5) 31/12/2020 Unearned Service Revenue................................... 1,025
Service Revenue................................................ 1,025
 Prepaid Insurance Unearned Service Reven
01/06/2020 1,800
31/12/2020 1,050 31/12/2020
Balance 750

Prepaid Rent
31/08/2020 6,500 Insurance Expense
31/12/2020 5,200 31/12/2020
Balance 1,300

Prepaid Cleanning Rent Expense

30/11/2020 2,000 31/12/2020
31/12/2020 1,000
Balance 1,000
Maintenance and Repair Ex
Service Revenue 31/12/2020
31/12/2020 1,600
31/12/2020 1,025
2,625
 Unearned Service Revenue
04/09/2020 3,600
05/12/2020 1,500
2,625
Balance 2,475

Insurance Expense
1,050
1,050

Rent Expense
5,200
5,200

Maintenance and Repair Expense

1,000
1,000
No. Date Account Titles and Explanation Debit Credit
(1) 31/12/2020 Utilities Expense................................. 425
Accounts Payable........................... 425
(2) 31/12/2020 Salaries and Wages Expense.............. 2,000
Salaries and Wages Payable........... 2,000
(3) 31/12/2020 Interest Expense................................. 400
Interest Payable............................. 400
(4) 31/12/2020 Accounts Receivable........................... 300
Service Revenue............................. 300
(5) 31/12/2020 Accounts Receivable........................... 6,000
Rent Revenue................................. 6,000
(1) 11/01/2020 Accounts Payable................................ 425
Cash................................................ 425
(2) 04/01/2020 Salaries and Wages Payable............... 2,000
Salaries and Wages Expense.............. 1,500
Cash................................................ 3,500
(3) 01/01/2020 Interest Payable.................................. 400
Cash................................................ 400
(4) 04/01/2020 Cash.................................................... 300
Accounts Receivable...................... 300
(5) 02/01/2020 Cash.................................................... 6,000
Accounts Receivable...................... 6,000