GENERAL JOURNAL

PROB 2-1:
Date Account Titles and Explanation P.R.
B1Mar-22 Cash
Share capital-ordinary
Lee Feng invested in bussiness

B1Mar-22 Land
Building
Equipment
Cash
Purchused consist of land, building, equipment

B1Mar-22 Advertising expense

cash
Paid advertising expense

B1Mar-22 Prepaid Insurane

Cash
Paid for a one-year insurance policy

B1Mar-22 Equipment
Account payable
Purchased golf discs and other equipment from Wang

B1Mar-22 Cash
Service revenues
Receiced golf fees

B1Mar-22 Cash
Unearned revenues
Sold 150 coupon book

B1Mar-22 Dividends
cash

B1Mar-22 Salaries and Wages expense

Cash
 Paid salaries

B1Mar-22 Account payable

Cash
Paid wang company

B1Mar-22 Cash
service revenues
Received golf fees
 Page 1

Debit Credit
20,348
20,348

12,000
2,000
1,000
15,000

948
948

600
600

1,050
1,050

1,100
1,100

1,500
1,500

848
848

250
250
1,050
1,050

2,700
2,700
CASH LEGER CODE: 101
DATE EXPLANTION PR Debit
B1Mar-22 openning balance
B1Mar-22 Lee Feng invested in bussiness 20,348
B1Mar-22 Purchused consist of land, building, equipment
B1Mar-22 Paid advertising expense
B1Mar-22 Paid for a one-year insurance policy
B1Mar-22 Receiced golf fees 1,100
19-Mar Sold 150 coupon book 1,500
25-Mar paid dividend
30-Mar Paid salaries
30-Mar Paid wang company
31-Mar Received golf fees 2,700

BULDING
DATE EXPLANTION PR Debit
B1Mar-22 openning balance
3-Mar Purchused consist of land, building, equipment 2,000
ACCOUNT PAYABLE
DATE EXPLANTION PR Debit
B1Mar-22 openning balance
10-Mar Purchased golf discs and other equipment from Wang
30-Mar Paid wang company 1,050

DIVIDENDS
DATE EXPLANTION PR Debit
B1Mar-22 openning balance
25-Mar paid dividend 848

SALARIES AND WAGES EXPENSE

DATE EXPLANTION PR Debit
B1Mar-22 openning balance
30-Mar Paid salaries 250

ADVERTISING EXPENSE
DATE EXPLANTION PR Debit
B1Mar-22 openning balance
5-Mar Paid advertising expense 948
 EQUIPMENT
Credit Balance DATE EXPLANTION
- B1Mar-22 openning balance
5,348 3-Mar Purchused consist of land, building, equipment
15,000 4,400 10-Mar Purchased golf discs and other equipment from Wang
948 3,800
600 3,800
4,900
5,552
848 5,302
250 4,252
1,050 4,252
6,952

LAND
Credit Balance DATE EXPLANTION
- B1Mar-22 openning balance
2,000 3-Mar Purchused consist of land, building, equipment
SHARE CAPITAL
Credit Balance DATE EXPLANTION
- B1Mar-22 openning balance
1,050 1,050 1-Mar Lee Feng invested in bussiness
-

SERVICE REVENUES
Credit Balance DATE EXPLANTION
- B1Mar-22 openning balance
(848) 18-Mar Receiced golf fees
31-Mar Received golf fees

PREPAID INSURANCE
Credit Balance DATE EXPLANTION
- B1Mar-22 openning balance
250 6-Mar Paid for a one-year insurance policy

UNEARNED REVENUES
Credit Balance DATE EXPLANTION
- B1Mar-22 openning balance
948 19-Mar Sold 150 coupon book
PR Debit Credit Balance
-
1000 1,000
1050 2,050

PR Debit Credit Balance

-
12,000 12,000

PR Debit Credit Balance

-
20,348 20,348

PR Debit Credit Balance

-
1100 1,100
2700 3,800

PR Debit Credit Balance

-
600 600

PR Debit Credit Balance

-
1500 1,500
 Trial Balance
Account titles Debit Credit
Cash $6,952
Equipment 2,050
Prepaid Insurance 600
Building 2,000
Land 12,000
Account payable -
Unearned Revenues 1,500
Share capital 20,348
Dividends (848)
Service revenues 3,800
Salaries and wages expense 250
Advertinsing expense 948
TOTAL $24,800 24,800
 Emily Stanbury dental clinic
Income statement
For the month ended Mar 31
Service revenues 3,800
Salaries and wages expense (250)
Advertising expense (948)
Net Income 2,602
 Emily Stanbury dental clinic
Retained earning statement
For the month ended Mar 31
Retained earning, opening balance -
Plus: Net income 2,602
Minus: Dividends (848)
Retained earnings, ending balance 1,754
 Emily Stanbury dental clinic
Balance sheet/ Statement of financial position
At the date Mar 31
Assets
Noncurrent assets 14,000
Land 12,000
Building 2,000
Current assets: 9,602
Prepaid Insurance 600
Equipment 2,050
Cash 6,952
Total assets 23,602
Liabilities and equity 23,602
Share capital 20,348
Retained earning 1,754
Unearned revenues 1,500
Accounts payable -
Total liabilities and equity 23,602