Assets (=) Liabilities (+) Owner's Equity (+) Revenue (-) Expenses Assets (=) Liabilities (+) Owner's

(+) Revenue (-) Expenses Assets (=) Liabilities (+) Owner's Equity (+) Revenue (-) Expenses
Cash Accounts Receivable Equipment Supplies Accounts Payable Spengel, Capital Spengel, Drawings Service Revenue Salaries Expense Office Rent Cash Accounts Receivable
Equipment Supplies Notes Payable Accounts Payable Spengel, Capital Spengel, Drawings Service Revenue Salaries Expense
Office Rent
1 ######## $ 15,000.00 1 15,000 15,000
2 $ (600.00) $ 600.00 2 -600 600
3 $(3,000.00) $ 3,000.00 3 -3,000 3,000
4 $ 700.00 $ 700.00 4 700
5 $ (900.00) ###### 5 -900 900
6 $ 3,000.00 $ 7,000.00 $ 10,000.00 6 3,000 7,000 3,000
7 $ (600.00) $ (600.00) 7 -600 -600
8 $ (500.00) $ (500.00) 8 -500 -500
9 $(2,500.00) $ 2,500.00 9 -2,500 2,500
10 $ 4,000.00 $ (4,000.00) # 4,000 -4,000 4,000
######## $ 3,000.00 $ 3,000.00 ###### $ 200.00 $ 15,000.00 $ (600.00) $ 10,000.00 $ 2,500.00 $ 1,300.00 13,900 3,000 3,000 900 200 15,000 -600 7,000 2,500 600
20,800 = 24,600 - 3,800 20,800 = 21,600 - 3,100
20,800 20,800 20,800 #REF!

Spengel's Travel Agency

Income Statement
For the month of April

Service Revenue $ 10,000.00

Less: Expenses
Office Rent $ 600.00
Advertising Cost $ 700.00
Salaries $ 2,500.00
Net Profit $ 6,200.00
 Assets (=) Liabilities (+) Owner's Equity (+) Revenue (-) Expenses
Cash Accounts Receivable Equipment Supplies Notes Payable Accounts Payable Salem, Capital Salem, Drawings
$5,000.00 $ 1,500.00 $ 6,000.00 $ 500.00 $ 4,200.00 $ 8,800.00
1 $1,200.00 $ (1,200.00)
2 ######## $ (2,800.00)
3 $3,000.00 $ 4,500.00 $ 7,500.00
4 $ (400.00) $ 2,000.00 $ 1,600.00
5 ######## $ 3,800.00
6 $ (700.00) $ (700.00)
7 $2,000.00 $ 2,000.00
8 $ 270.00 $ 270.00
$3,500.00 $ 4,800.00 $ 8,000.00 $ 500.00 $ 2,000.00 $ 3,270.00 $ 8,800.00 $ (700.00) $ 7,500.00 $ 4,070.00
16,800 = 20,870 - 4,070
16,800 16,800

INCOME STATEMENT
FOR THE MONTH OF AUGUST

Revenue $ 7,500.00
Less: Expenses $ 4,070.00
Net Income $ 3,430.00

STATEMENT OF CHANGES IN EQUITY

Beginning Balance $ 8,800.00

Add: Net Income $ 3,430.00
Less: Withdrawal $ 700.00
Ending Balance $ 11,530.00

Balance Sheet
Assets

Cash $ 3,500.00
Accounts Receivable $ 4,800.00
Supplies $ 500.00
Equipment $ 8,000.00
Total Asset $ 16,800.00

Liability

Accounts Payable $ 3,270.00

Notes Payable $ 2,000.00
Total Liabilities $ 5,270.00

Owner's Equity

Judi, Capital $ 11,530.00

Total Liability & Owner's Equity $ 16,800.00
 INCOME STATEMENT INCOME STATEMENT
FOR THE MONTH OF JUNE 2017 FOR THE MONTH OF JUNE 2017

Revenue $ 6,500.00 Revenue $ 7,400.00

Less: Expenses $ 2,450.00 Less: Expenses $ 2,600.00
Net Income $ 4,050.00 Net Income $ 4,800.00

STATEMENT OF CHANGES IN EQUITY STATEMENT OF CHANGES IN EQUITY

Beginning Balance $ 12,000.00 Beginning Balance $ 12,000.00

Add: Net Income $ 4,050.00 Add: Net Income $ 4,800.00
Less: Withdrawal $ 1,300.00 Less: Withdrawal $ 1,300.00
Ending Balance $ 14,750.00 Ending Balance $ 15,500.00

Balance Sheet Balance Sheet

Assets Assets

Cash $ 10,150.00 Cash $ 10,150.00

Accounts Receivable $ 2,800.00 Accounts Receivable $ 3,700.00
Supplies $ 2,000.00 Supplies $ 2,000.00
Equipment $ 10,000.00 Equipment $ 10,000.00
Total Asset $ 24,950.00 Total Asset $ 25,850.00

Liability Liability

Accounts Payable $ 1,200.00 Accounts Payable $ 1,350.00

Notes Payable $ 9,000.00 Notes Payable $ 9,000.00
Total Liabilities $ 10,200.00 Total Liabilities $ 10,350.00

Owner's Equity Owner's Equity

Godfrey, Capital $ 14,750.00 Godfrey, Capital $ 15,500.00

Total Liability & Owner's Equity $ 24,950.00 Total Liability & Owner's Equity $ 25,850.00
Month Assets (=) Liabilities (+) Owner's Equity (+) Revenue (-) Expenses
May Cash Accounts Receivable Equipment Supplies Notes Payable Accounts Payable Maye, Capital Mayes, Drawings Salaries Expense Advertising Expense Rent Expense
1 $ 7,000.00 $ 7,000.00
2 $ (900.00) $ 900.00
3 $ 600.00 $ 600.00
5 $ (125.00) $ 125.00
9 $ 4,000.00 $ 4,000.00
12 $(1,000.00) $ (1,000.00)
15 $ 5,400.00 $ 5,400.00
17 $(2,500.00) $ 2,500.00
20 $ (600.00) $ (600.00)
23 $ 4,000.00 $ (4,000.00)
26 $ 5,000.00 $ 5,000.00
29 $4,200.00 $ 4,200.00
30 $ (275.00) $ 275.00
######### $ 1,400.00 $4,200.00 $ 600.00 $ 5,000.00 $ 4,200.00 $ 7,000.00 $ (1,000.00) $ 9,400.00 $ 1,175.00
20,800 = 24,600 - 3,800
20,800 20,800

Income Statement
For the month of May

Revenue $ 9,400.00
Less: Expenses
Office Rent $ 900.00
Advertising Cost $ 125.00
Salaries Expense $ 2,500.00
Net Profit $ 5,875.00

Balance Sheet
Assets

Cash $ 14,600.00
Accounts Receivable $ 1,400.00
Supplies $ 600.00
Equipment $ 4,200.00
Total Asset $ 20,800.00

Liability

Accounts Payable $ 4,200.00

Notes Payable $ 5,000.00
Total Liabilities $ 9,200.00

Owner's Equity

Maye, Capital $ 11,600.00

Total Liability & Owner's Equity $ 20,800.00
 Holz Disc Golf Course
Journal Entry

Date Accounting Titles PR Debit Credit

March 1 Cash 20,000

Holz, Capital 20,000
To record the initial capital of Golf Course

March 3 Land 12,000

Building 2,000
Equipment 1,000
Cash 15,000
To record the land purchase of Golf Course

March 5 Advertising Expense 900

Cash 900
To record the payment of advertisement

March 6 Insurance Expense 600

Cash 600
To record the insurance expenses for one-year

March 10 Equipments 1,050

Accounts Payable 1,050
To record equipments purchase payable for 30 days

March 18 Cash 1,100

Service Revenue 1,100
To record the revenue from golf fees

March 19 Cash 1,500

Service Revenue 1,500
To record the sales with coupons

March 25 Holzc, Drawing 800

Cash 800
To record the withdrawal for personal use

March 30 Salaries Expense 250

Cash 250
To record the salaries expense

Accounts Payable 1,050

Cash 1050
To record the payment payable for 30 days

March 31 Cash 2,700

Service Revenue 2,700
To record revenue from golf fees
 Emily Valley Dentist Emily Valley Dentist Emily Valley Dentist
Journal Entry General Ledger Trial Balance
30-Apr-17
Date Accounting Titles PR Debit Credit Account Cash 001
DATE Description Ref Debit Credit Balance Account Titles Debit Credit
April 1 Cash 20,000 01-Apr Cash Investment of the owner GJ-1 20,000 20,000
Valley, Capital 20,000 02-Apr Rent Expense GJ-1 1,100 18,900
To record cash investment 11-Apr Unearned Service Revenue GJ-1 1000 ###### ## Cash 16,800
20-Apr Service Revenue GJ-1 2100 ###### ## Account Receivables 5,100
Salary Expense 2,800 30-Apr Salaries Payable GJ-1 2800 ###### ## Supplies 4,000
Salary Payable 2,800 30-Apr Accounts Payable 2400 ###### ## Accounts Payable 1,600
To record salary expense for the month of April ###### ## Unearned Service Revenue 1,000
## Owner's capital 20,000
April 2 Rent Expense 1,100 Account Account Receivables 112 ## Service Revenue 7,200
Cash 1,100 DATE Description Ref Debit Credit Balance ## Salaries and Wages Expense 2,800
To record payment for rent expent in cash 20-Apr Service Revenue GJ-1 5,100 5,100 ## Rent Expense 1,100
5,100 29,800 29,800
April 3 Supplies Account 4,000
Acounts Payable - Dazzle Company 4000 Account Supplies 126
To purchase dental supplies on account DATE Description Ref Debit Credit Balance
03-Apr Accounts Payable GJ-1 4,000 4,000
April # Account Receivables 5100 4,000
Service Revenue 5100
To record the services performed to insurance companies Account Accounts Payable 201
DATE Description Ref Debit Credit Balance
April # Cash 1,000 03-Apr Accounts Payable GJ-1 4000 4,000
Unearned Service Revenue 1,000 30-Apr Cash Payment to Dazzle Company 2400 1,600
To record the advance payment of Mataruka for an implant 1,600

April # Cash 2,100 Account Unearned Service Revenue 209

Service Revenue 2,100 DATE Description Ref Debit Credit Balance
To record earned from M. Santos 20-Apr Advance Payment for Implant GJ-1 1000 1,000
1,000
April # Salaries Expense 2800
Cash 2800 Account Owner's Capital 301
To record payment of salaries for the month of April DATE Description Ref Debit Credit Balance
01-Apr Cash Investment of the Owner GJ-1 20,000 20,000
AccountsPayable - Dazzle Company 2,400 20,000
Cash 2,400
To record the payment to Dazzle Company Account Service Revenue 400
DATE Description Ref Debit Credit Balance
10-Apr Account Receivable GJ-1 5100 5,100
20-Apr Cash earned from M. Santos 2,100 7,200
7,200

Account Salaries and Wages Expense 726

DATE Description Ref Debit Credit \
30-Apr Payment of Salaries for the month of April GJ-1 2,800 2,800
2,800

Account Rent Expense 729

DATE Description Ref Debit Credit Balance
02-Apr Rent Expense GJ-1 1,100 1,100
1,100
 Maquoketa Services Maquoketa Services
Journal Entry T-Accounts

Trans. Accounting Titles PR Debit Credit

Cash Account Receivables Supplies Equipment
1 Cash 40,000 Debit Credit Debit Credit Debit Credit Debit Credit
Owner's, Capital 40,000 (1) 40,000 (8) 12,000 (6) 420 (4) 30,000
To record cash initial investment 24,000 (3) 3,000(10) (7) 1,500 30,000
10,000 (4) 12,000 3000 1,920
2 No transaction 1,800 (5) 9,000 1,920 Accounts Payable
420 (6) Debit Credit
3 Prepaid Rent 24,000 (8) 8,000 Prepaid Insurance Prepaid Rent 20,000 (4)
Cash 24,000 400 (9) Debit Credit Debit Credit 1,500 (7)
To record cash payment for the first year (10) 3,000 (5) 1,800 (3) 24,000 (9) 400
6,100 (12) 1,800 24,000 380 (11)
4 Equipment 30,000 51,000 42,720 400 21,880
Cash 10,000 8,280 Service Revenue Salaries and Wages Expense 21,480
Accounts Payable 20,000 Debit Credit Debit Credit
To record downpayment for equipments Owner's Capital 20,000 (8) (12) 6,100 Utilities Expense
Debit Credit 20,000 6,100 Debit Credit
5 Prepaid Insurance 1,800 40,000 (1) (11) 380
Cash 1,800 40,000 380
To record payment for insurance on furniture and equip

6 Office Supplies 420

Cash 420 Maquoketa Services
To record the payment for basic office supplies
Trial Balance
7 Office Supplies 1,500
Accounts Payable 1,500
To record purchased office supplies on account Account Titles Debit Credit

8 Cash 8,000
Account Receivable 12,000 Cash 8,280
Service Revenue 20,000 Account Receivables 9,000
To record service revenue Supplies 1,920
Prepaid Insurance 1,800
9 Accounts Payable 400 Prepaird Rent 24,000
Cash 400 Equipment 30,000
To record payment for accounts payable Accounts Payable 21,480
Owner's Capital 40,000
10 Cash 3,000 Service Revenue 20,000
Account Receivables 3,000 Salaries and Wages Expense 6,100
To record payment of account receivables Utilities Expense 380
81,480 81,480
11 Utilities Expense 380
Accounts Payable 380
To record utility bill to be paid next month

12 Salaries and Wages Expense 6,100

Cash 6,100
To record the salaries expense
 B.
A. and C. D.
Starr Theater
General Journal Starr Theater Maquoketa Services
General Ledger Trial Balance
Date Accounting Titles Ref Debit Credit
Account: Cash Account No: 101
Date Item Ref Debit Credit Balance
02-Mar Rent Expense 3,500
Cash 1,500 01-Mar
Balance ✓ 3,000 Account Titles Debit Credit
Initial Payment for Rent
Accounts Payable 2,000 02-Mar 1,500 1,500
Revenue from the admissions
To record the rent expense 09-Mar 4,300 5,800 Cash 10,150
10-Mar Payment for movie and Acct Payable 4,100 1,700 Account Receivables 450
03-Mar No transaction 12-Mar Payment for Advertisement 900 800 Land 24,000
20-Mar Payment from the admissions 5,000 5,800 Buildings 10,000
09-Mar Cash 4,300 20-Mar Payment for Rental Fee 2,000 3,800 Equipment 10,000
Service Revenue 4,300 31-Mar Salaries of Employers 3,100 700 Accounts Payable 4,900
To record the revenue from admissions 31-Mar 1/2 payment of Ladd to their rent fee 450 1,150 Owner's Capital 40,000
31-Mar Payment from the admissions 9,000 10,150 Service Revenue 18,300
10-Mar Accounts Payable 4,100 Rent Revenue 900
Cash 4,100 Advertising Expense 900
To record the payment on movies and acct payable on March 1 Account: Account Receivables Account No: 112 Salaries and Wages Expense 3,100
Date Item Ref Debit Credit Balance Rent Expense 5,500
Balance Payment of Ladd
11-Mar No Entry 31-Mar 450 450 64,100 64,100

12-Mar Advertising Expense 900 Account: Land Account No: 140

Date Item Ref Debit Credit Balance
Cash 900
To record the payment for advertisement 01-Mar
Balance ✓ 24,000

20-Mar Cash 5,000 Account: Building Account No: 145

Date Item Ref Debit Credit Balance
Service Revenue 5,000
To record the revenue from admissions 01-Mar
Balance ✓ 10,000

Rent Expense 2,000 Account: Equipment Account No: 157

Date Item Ref Debit Credit Balance
Cash 2,000
To record the payment fo rental fee 01-Mar
Balance ✓ 10,000

31-Mar Salaries Expense 3,100 Account: Accounts Payable Account No: 201
Date Item Ref Debit Credit Balance
Cash 3,100
To record the salary expense 01-Mar
Balance
✓ 7,000
02-Mar For the Rent Expense 2,000 9,000
Cash 450 10-Mar Payment on movies and payable on March 1 4,100 4,900
Account Receivables 450
Rent Revenue 900
To record the payment and balance of Ladd Account: Owner's Capital Account No: 301
Date Item Ref Debit Credit Balance
Cash 9,000 01-Mar
Balance ✓ 40,000
Service Revenue 9,000
To record the payment from customer's admission Account: Service Revenue Account No: 400
Date Item Ref Debit Credit Balance
09-Mar
Revenue from admissions ✓ 4,300 4,300
Revenue from customer's admissions
20-Mar 5,000 9,300
31-Mar Revenue from customer's admissions 9,000 18,300

Account: Rent Revenue Account No: 429

Date Item Ref Debit Credit Balance
Payment of Ladd to their Rent Fees
31-Mar 900 900

Account: Advertising Expense Account No: 610

Date Item Ref Debit Credit Balance
Payment for Advertisement
12-Mar 900 900

Account: Salaries and Wages Expenses Account No: 726

Date Item Ref Debit Credit Balance
Employer's Salary
31-Mar 3,100 3,100

Account: Rent Expense Account No: 729

Date Item Ref Debit Credit Balance
02-Mar Film Rental 3,500 3,500
Payment of Rental Fee
20-Mar 2,000 5,500
 Avtar Sandhu Company
Trial Balance
Avtar Sandhu Company
June 30, 2017 Journal Entry

Trans. Accounting Titles PR Debit Credit

Account Titles Debit Credit 1 Account Receivable 580
Cash 580
Cash 3,610 Cash 850
Account Receivables 2,542 Account Receivable 850
Supplies 490 2 Equipments 710
Equipment 3,310 Supplies 710
Accounts Payable 3,000 3 Service Revenue 882
Unearned Service Revenue 1,100 4 Salaries and Wages Expense 700
Owner's Capital 8,000 5 Accounts Payable 360
Owner's Drawing 1,400 Cash 306
Service Revenue 3,362 Accounts Payable 306
Salaries and Wages Expense 3,300 Cash 306
Utilities Expense 810 6 Owner's Drawing 600
15,462 15,462 Salaries and Wages Expenses 600

Adjustments

1. Cash 3,340 + 270 = 3610 dr.

Account Receivable
2. Supplies
Equipment
3. Service Revenue
4. Salaries and Wages
5. Accounts Payable
Salaries and Wages Expense
Owner's Drawing
2,812 - 270 = 2,542 dr.
1,200 - 710 = 490 dr.
2,600 + 710 = 3,310 dr.
2,480 + 882 = 3,362 cr.
3,200 + 700 = 3,900 dr.
3,666 - 666 = 3,000 dr.
3,900 - 600 = 3,300 dr.
800 + 600 = 1,400 dr.