JOURNAL ENTRY T-ACCOUNTS

DATE ACCOUNTS NAME DEBIT CREDIT CASH NARVAEZ, Capital

Cash 300,000 300,000 50,000
NARVAEZ, Capital 300,000 100,000
25,000
2 Play Equipment 100,000 37,500
Notes Payable 50,000 10,000
Cash 50,000 300,000 222,500
77,500
10 Equipment 300,000
NARVAEZ, Capital 300,000 EQUIPMENT FIXTURE AND FURNITURE
300,000 100,000
15 Furniture and Fixture 100,000
Cash 100,000 300,000 100,000

20 School Supplies 15,000 MEDICAL SUPPLIES SCHOOL SUPPLIES

Medical Supplies 10,000 10,000 500 15,000
Cash 25,000
10,000 500 15,000
23 Car 75,000 9,500
Accounts Payable 37,500
Cash 37,500 ACCOUNTS PAYABLE NARVAEZ, Drawings
37,500 500
25 NARVAEZ, Drawings 500
Medical Supplies 500 37,500 500

30 Notes Payable 10,000

Cash 10,000
UNTS TRIAL BALANCE
NARVAEZ, Capital PLAY EQUIPMENT ACCOUNTS TITLE DEBIT CREDIT
300,000 100,000 CASH 77,500
300,000 PLAY EQUIPMENT 100,000
EQUIPMENT 300,000
FIXTURE AND FIXTURE 100,000
CAR 75,000
600,000 100,000 MEDICAL SUPPLIES 9,500
SCHOOL SUPPLIES 15,000
ACCOUNTS PAYABLE 37,500
XTURE AND FURNITURE CAR NOTES PAYABLE 40,000
75,000 NARVAEZ, CAPITAL 600,000
NARVAEZ, DRAWINGS 500
75,000 TOTAL BALANCE 677,500 677,500

SCHOOL SUPPLIES NOTES PAYABLE

10,000 50,000

10,000 50,000
40,000

NARVAEZ, Drawings
ASSETS LIABILITIES &OWNERS'S EQUITY
CURRENT ASSETS: LIABILITIES:
CASH 77,500 ACCOUNTS PAYABLE 37,500
SCHOOL SUPPLIES 15,000 NOTES PAYABLE 40,000
MEDICAL SUPPLIES 9,500 EQUITY:
NON-CURRENT NARVAEZ, CAPITAL 600,000
CAR 75,000 LESS: NARVAEZ, DRAWINGS 500
FIXTURE AND FURNIT 100,000 677,000
PLAY EQUIPMENT 100,000
OFFICE EQUIPMENT 300,000
TOTAL 677,000
 JOURNAL ENTRY T-ACCOUNTS
DATE ACCOUNTS TITLE DEBIT CREDIT CASH FIXTURE AND FURNITURE
Apr-01 Cash 50,000 50,000 25,000 10,000
Furniture and Fixture 10,000 32,000 2,500
Owner's, Capital 60,000 15,000 6200
40,000 5000
2 Utilities Expense 500 4,000
Rent Expense 24,500 6,200
Cash 25,000 137,000 48,900 10,000
88,100
4 Art Equipment 120,000
Notes Payable 120,000
MR. WONG'S, CAPITAL UTILITIES EXPENSE
6 Office Supplies 2,500 60,000 500
Cash 2,500

8 Cash 32,000 60,000 500

Service Income 32,000
NOTES PAYABLE SERVICE INCOME
10 Accounts Receivable 27,000 4,000 120,000
Service Income 27,000

15 Salaries Expense 6,200

Cash 6,200 4,000 120,000
116,000
18 Cash 15,000
Accounts Receivable 15,000 SALARIES EXPENSE ACCOUNTS RECEIVABLE
6,200 27,000
25 Cash 40,000 6,200 60,000
Accounts Receivable 60,000
Service Income 100,000 12,400 87,000
72,000
28 Owner's, Drawings 5,000
Cash 5,000

28 Notes Payable 4,000

Cash 4,000

30 Salaries Expense 6,200

Cash 6,200
31 Memorandum Entry
 T-ACCOUNTS TRIAL BALANCE
IXTURE AND FURNITURE ART EQUIPMENT ACCOUNTS TITLE DEBIT CREDIT
120,000 CASH 88,100
ACCOUNTS RECEIVABLE 72,000
FIXTURE AND FURNITURE 10,000
ART EQUIPMENT 120,000
OFFICE SUPPLIES 2,500
NOTES PAYABLE 116,000
120,000 OWNER'S CAPITAL 60,000
OWNER'S DRAWINGS 5,000
SERVICE INCOME 159,000
RENT EXPENSE 24,500
UTILITIES EXPENSE RENT EXPENSE SALARIES EXPENSE 12,400
24,500 UTILITIES EXPENSE 500
TOTAL 335,000 335,000

24,500 BALANCE SHEET

ASSETS LIABILITIES AND EQUITY
SERVICE INCOME SUPPLIES CURRENT ASSETS: LIABILITIES:
32,000 2,500 CASH 88,100 NOTES PAYABLE
27,000 ACCOUNTS RECEIVABLE 72,000 EQUITY:
100,000 NON-CURRENT: OWNER'S, CAPITAL
ART EQUIPMENT 120,000
159,000 2,500 FURNITURE AND FIXTURE 10,000 TOTAL
SUPPLIES 2,500
TOTAL 292,600
ACCOUNTS RECEIVABLE MR. WONG'S DRAWINGS
15,000 5,000

15,000 5,000
 INCOME STATEMENT STATEMENT OF CAPITALS EQUITY
INCOME: CAPITAL:
SERVICE INCOME 159,000 OWNER'S CAPITAL 60,000
LESS: INCOME:
SALARIES EXPENSE 12,400 NET SALES: 121,600
RENT EXPENSE 24,500 181,600
UTILITIES EXPENSE 500 LESS:
TOTAL 121,600 OWNER'S DRAWINGS 5,000
TOTAL 176,600

S AND EQUITY
S:
YABLE 116,000

, CAPITAL 176,600

TOTAL 292,600