Week 4-5 ULOb Lets Analyze Activity 1

Feb 2 Rent Expense 27,000

Cash 27,000
Paid rent for the month.

3 Cash 65,000
School Revenues 65,000
To record collection of tuition fees.

4 Supplies 8,500
Accounts Payable 8,500
Acquired supplies on account.

5 Gas and Oil Expense 4,000

Cash 4,000
Paid for oil change of service vehicle.

6 No journal entry

8 Accounts Payable 17,000

Cash 17,000
Payment of accounts.

9 Cash 120,000
Accounts Receivable 120,000
Received collection from customers.

10 Accounts Receivable 70,000

School Revenues 70,000
Billed customers for unpaid services.

11 Accounts Payable 8,500

Cash 8,500
Payment of supplies on account.

13 Equipment 100,000
Cash 100,000
Received and paid for playground equipment.

17 Equipment 29,000
Accounts Payable 29,000
To record purchase of equipment on account.

19 Utilities Expense 14,500

Cash 14,500
Paid for utilities.

22 Cash 50,000
Accounts Receivable 50,000
Received collection from customers.

26 Salaries Expense 46,000

Cash 46,000
Paid for salaries.

27 Gas and Oil Expense 32,500

Accounts Payable 32,500
Received bill for gas and oil for the month.

28 Ventic, Withdrawals 11,000

Cash 11,000
Withdrawal of cash for personal use.
 GENERAL LEDGER

Cash (110) Accounts Receivable (120) Supplies (130)

1-31 187,000 27,000 2-2 1-31 170,000 120,000 2-9 2-4 8,500
2-3 65,000 4,000 2-5 2-10 70,000 50,000 2-22 8,500
2-9 120,000 17,000 2-8 240,000 170,000
2-22 50,000 8,500 2-11 70,000
100,000 2-13
14,500 2-19
46,000 2-26
11,000 2-28
422,000 228,000
194,000

Equipment (140) Service Vehicle (150) Notes Payable (210)

1-31 104,000 1-31 1,740,000 1,500,000 1-31
2-13 100,000 1,740,000 1,500,000
2-17 29,000
233,000

Accounts Payable (220) Ventic, Capital (310) Ventic, Withdrawals (320)

2-8 17,000 164,000 1-31 537,000 1-31 2-28 11,000
2-11 8,500 8,500 2-4 537,000 11,000
29,000 2-17
32,500 2-27
25,500 234,000
208,500

School Revenues (410) Salaries Expense (510) Rent Expense (520)

65,000 2-3 2-16 46,000 2-2 27,000

70,000 2-10 46,000 27,000
135,000

Gas and Oil Expense (530) Utilities Expense (540)

2-5 4,000 2-19 14,500

2-27 32,500 14,500
36,500

Ventric Nursery School

Trial Balance
Feb 29, 2020

DR. CR.
Cash (110) 194,000
Accounts Receivable (120) 70,000
Supplies (130) 8,500
Equipment (140) 233,000
Service Vehicles (150) 1,740,000
Notes Payable (210) 1,500,000
Accounts Payable (220) 208,500
Ventic, Capital (310) 537,000
Ventric, Withdrawals (320) 11,000
School Revenues (410) 135,000
Salaries Expense (510) 46,000
Rent Expense (520) 27,000
Gas and Oil Expense (530) 36,500
Utilities Expense (540) 14,500
Total 2,380,500 2,380,500