A. Journal Entries B.

Posting
Date Account Debit Credit
Jan. 8 Cash 150,000.00
Service Fee 150,000.00
to record service fee earned
Jan. 9 Accounts Receivable 200,000.00
Service Fee 200,000.00
to record service fee earned on account
Jan . 10 Advertising Expense 25,000.00
Cash 25,000.00
to record payment for advertising
Jan. 11 Cash 180,000.00
Accounts Receivable 180,000.00
to record collection of receivable
Jan. 12 Owner's Drawing 10,000.00
Cash 10,000.00
to record withdrawal on account
B. Posting

ASSETS EQUITY

Cash Accounts Receivable Owner's drawings

150,000.00 25,000.00 200,000.00 180,000.00 10,000.00
180,000.00 10,000.00

10,000.00

330,000.00 35,000.00 200,000.00 180,000.00

295,000.00 20,000.00
 INCOME EXPENSES

Service Fees Advertising expense

200,000.00 25,000.00

200,000.00 25,000.00
 z
Unadjusted Trial Balance
as of December 31, 20x1

Account Debit Credit

Cash 770,000.00
Accounts receivable 210,000.00
Building 5,000,000.00
Land 2,000,000.00
Equipment 3,600,000.00
Prepaid supplies 40,000.00
Notes receivable 420,000.00
Allowance for bad debts 30,000.00
Accumulated depreciation - Bldg. 1,250,000.00
Accumulated depreciation - Equipt. 1,800,000.00
Accounts payable 480,000.00
Salaries payable 120,000.00
Utilities payable 40,000.00
Owner’s equity 4,200,000.00
Owner’s drawings 80,000.00
Service fees 6,000,000.00
Supplies expense 60,000.00
Taxes and licenses 120,000.00
Transportation and travel expense 140,000.00
Utilities expense 46,000.00
Salaries expense 1,140,000.00
Depreciation expense 200,000.00
Miscellaneous expense 4,000.00
Advertising expense 70,000.00
Bad debt expense 20,000.00
TOTALS 13,920,000.00 13,920,000.00
A. Journal Entries B. Posting
Date Account Debit Credit
20x1
Oct 1 Cash 300,000.00
Owner, Capital 300,000.00
to record initial investment
Oct 2 Furniture and Fixture 200,000.00
Cash 200,000.00
to record payment for acquired f&f
Oct 4 Supplies 30,000.00
Cash 30,000.00
to record payment for acquired supplies
Oct 5 Cash 20,000.00
Service Fees 20,000.00
to record service fee earned
Oct 7 Salaries Expense 10,000.00
Cash 10,000.00
to record payment of salaries
B. Posting

ASSETS EQUITY

Cash Prepaid supplies Owner’s equity

300,000.00 200,000.00 30,000.00 300,000.00
20,000.00 30,000.00
10,000.00 30,000.00 - 300,000.00

Furniture and fixture

320,000.00 240,000.00 200,000.00
80,000.00
200,000.00
 C. Unadjusted Trial Balance

INCOME EXPENSES Alpha Consulting

Unadjusted Trial Balance
Service Fees Salaries expense as of October 7, 20x1
20,000.00 10,000.00
Account
20,000.00 10,000.00 Cash
Furniture and Fixture
Prepaid Supplies
Owner, Capital
Service Fees
Salaries Expense
TOTALS
 Alpha Consulting
Unadjusted Trial Balance
as of October 7, 20x1

Debit Credit
80,000.00
200,000.00
30,000.00
300,000.00
20,000.00
10,000.00
320,000.00 320,000.00