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 $ 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) $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) 10 4,000 -4,000 4,000
$ 13,900.00 $ 3,000.00 $ 3,000.00 $900.00 $ 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) $ (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) $ 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
$14,600.00 $ 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 $ 20,000.00

Holz, Capital $ 20,000.00
To record the initial capital of Golf Course

March 3 Land $ 12,000.00

Building $ 2,000.00
Equipment $ 1,000.00
Cash $ 15,000.00
To record the land purchase of Golf Course

March 5 Advertising Expense $ 900.00

Cash $ 900.00
To record the payment of advertisement

March 6 Insurance Expense $ 600.00

Cash $ 600.00
To record the insurance expenses for one-year

March 10 Equipments $ 1,050.00

Accounts Payable $ 1,050.00
To record equipments purchase payable for 30 days

March 18 Cash $ 1,100.00

Service Revenue $ 1,100.00
To record the revenue from golf fees

March 19 Cash $ 1,500.00

Service Revenue $ 1,500.00
To record the sales with coupons

March 25 Holzc, Drawing $ 800.00

Cash $ 800.00
To record the withdrawal for personal use

March 30 Salaries Expense $ 250.00

Cash $ 250.00
To record the salaries expense

Accounts Payable $ 1,050.00

Cash $ 1,050.00
To record the payment payable for 30 days

March 31 Cash $ 2,700.00

Service Revenue $ 2,700.00
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 $ 20,000.00 01-Apr Cash Investment of the owner GJ-1 $ 20,000.00 $ 20,000.00
Valley, Capital $ 20,000.00 02-Apr Rent Expense GJ-1 $ 1,100.00 $ 18,900.00
To record cash investment 11-Apr Unearned Service Revenue GJ-1 $ 1,000.00 $ 19,900.00 ## Cash $ 16,800.00
20-Apr Service Revenue GJ-1 $ 2,100.00 $ 22,000.00 ## Account Receivables $ 5,100.00
Salary Expense $ 2,800.00 30-Apr Salaries Payable GJ-1 $ 2,800.00 $ 19,200.00 ## Supplies $ 4,000.00
Salary Payable $ 2,800.00 30-Apr Accounts Payable $ 2,400.00 $ 16,800.00 ## Accounts Payable $ 1,600.00
To record salary expense for the month of April $ 16,800.00 ## Unearned Service Revenue $ 1,000.00
## Owner's capital $ 20,000.00
April 2 Rent Expense $ 1,100.00 Account Account Receivables 112 ## Service Revenue $ 7,200.00
Cash $ 1,100.00 DATE Description Ref Debit Credit Balance ## Salaries and Wages Expense $ 2,800.00
To record payment for rent expent in cash 20-Apr Service Revenue GJ-1 $ 5,100.00 $ 5,100.00 ## Rent Expense $ 1,100.00
$ 5,100.00 $ 29,800.00 $ 29,800.00
April 3 Supplies Account $ 4,000.00
Acounts Payable - Dazzle Company $ 4,000.00 Account Supplies 126
To purchase dental supplies on account DATE Description Ref Debit Credit Balance
03-Apr Accounts Payable GJ-1 $ 4,000.00 $ 4,000.00
April # Account Receivables $ 5,100.00 $ 4,000.00
Service Revenue $ 5,100.00
To record the services performed to insurance companies Account Accounts Payable 201
DATE Description Ref Debit Credit Balance
April # Cash $ 1,000.00 03-Apr Accounts Payable GJ-1 $ 4,000.00 $ 4,000.00
Unearned Service Revenue $ 1,000.00 30-Apr Cash Payment to Dazzle Company $ 2,400.00 $ 1,600.00
To record the advance payment of Mataruka for an implant $ 1,600.00

April # Cash $ 2,100.00 Account Unearned Service Revenue 209

Service Revenue $ 2,100.00 DATE Description Ref Debit Credit Balance
To record earned from M. Santos 20-Apr Advance Payment for Implant GJ-1 $ 1,000.00 $ 1,000.00
$ 1,000.00
April # Salaries Expense $ 2,800.00
Cash $ 2,800.00 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 $ 20,000.00 $ 20,000.00
AccountsPayable - Dazzle Company $ 2,400.00 $ 20,000.00
Cash $ 2,400.00
To record the payment to Dazzle Company Account Service Revenue 400
DATE Description Ref Debit Credit Balance
10-Apr Account Receivable GJ-1 $ 5,100.00 $ 5,100.00
20-Apr Cash earned from M. Santos $ 2,100.00 $ 7,200.00
$ 7,200.00

Account Salaries and Wages Expense 726

DATE Description Ref Debit Credit \
30-Apr Payment of Salaries for the month of April GJ-1 $ 2,800.00 $ 2,800.00
$ 2,800.00

Account Rent Expense 729

DATE Description Ref Debit Credit Balance
02-Apr Rent Expense GJ-1 $ 1,100.00 $ 1,100.00
$ 1,100.00
 Maquoketa Services Maquoketa Services
Journal Entry T-Accounts

Trans. Accounting Titles PR Debit Credit

Cash Account Receivables Supplies Equipment
1 Cash $ 40,000.00 Debit Credit Debit Credit Debit Credit Debit Credit
Owner's, Capital $ 40,000.00 (1) ######## (8) $ 12,000.00 (6) $ 420.00 (4) $ 30,000.00
To record cash initial investment ######## (3) $ 3,000.00 (10) (7) $ 1,500.00 $ 30,000.00
######## (4) $ 12,000.00 $ 3,000.00 $ 1,920.00
2 No transaction $ 1,800.00 (5) $ 9,000.00 $ 1,920.00 Accounts Payable
$ 420.00 (6) Debit Credit
3 Prepaid Rent $ 24,000.00 (8) $ 8,000.00 Prepaid Insurance Prepaid Rent $ 20,000.00 (4)
Cash $ 24,000.00 $ 400.00 (9) Debit Credit Debit Credit $ 1,500.00 (7)
To record cash payment for the first year (10) $ 3,000.00 (5) $ 1,800.00 (3) $ 24,000.00 (9) $ 400.00
$ 6,100.00 (12) $ 1,800.00 $ 24,000.00 $ 380.00 (11)
4 Equipment $ 30,000.00 $ 51,000.00 $ 42,720.00 $ 400.00 $ 21,880.00
Cash $ 10,000.00 $ 8,280.00 Service Revenue Salaries and Wages Expense $ 21,480.00
Accounts Payable $ 20,000.00 Debit Credit Debit Credit
To record downpayment for equipments Owner's Capital $ 20,000.00 (8) (12) $ 6,100.00 Utilities Expense
Debit Credit $ 20,000.00 $ 6,100.00 Debit Credit
5 Prepaid Insurance $ 1,800.00 $ 40,000.00 (1) (11) $ 380.00
Cash $ 1,800.00 $ 40,000.00 $ 380.00
To record payment for insurance on furniture and equip

6 Office Supplies $ 420.00

Cash $ 420.00
Maquoketa Services
To record the payment for basic office supplies
Trial Balance
7 Office Supplies $ 1,500.00
Accounts Payable $ 1,500.00
To record purchased office supplies on account Account Titles Debit Credit
8 Cash $ 8,000.00
Account Receivable $ 12,000.00 Cash $ 8,280.00
Service Revenue $ 20,000.00 Account Receivables $ 9,000.00
To record service revenue Supplies $ 1,920.00
Prepaid Insurance $ 1,800.00
9 Accounts Payable $ 400.00 Prepaird Rent $ 24,000.00
Cash $ 400.00 Equipment $ 30,000.00
To record payment for accounts payable Accounts Payable $ 21,480.00
Owner's Capital $ 40,000.00
10 Cash $ 3,000.00 Service Revenue $ 20,000.00
Account Receivables $ 3,000.00 Salaries and Wages Expense $ 6,100.00
To record payment of account receivables Utilities Expense $ 380.00
$ 81,480.00 $ 81,480.00
11 Utilities Expense $ 380.00
Accounts Payable $ 380.00
To record utility bill to be paid next month

12 Salaries and Wages Expense $ 6,100.00

Cash $ 6,100.00
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
02-Mar Rent Expense $ 3,500.00 Date Item Ref Debit Credit Balance
Cash $ 1,500.00 01-Mar Balance ✓ $ 3,000.00 Account Titles Debit Credit
Accounts Payable $ 2,000.00 02-Mar Initial Payment for Rent $ 1,500.00 $ 1,500.00
To record the rent expense 09-Mar Revenue from the admissions $ 4,300.00 $ 5,800.00 Cash $ 10,150.00
10-Mar Payment for movie and Acct Payable $ 4,100.00 $ 1,700.00 Account Receivables $ 450.00
03-Mar No transaction 12-Mar Payment for Advertisement $ 900.00 $ 800.00 Land $ 24,000.00
20-Mar Payment from the admissions $ 5,000.00 $ 5,800.00 Buildings $ 10,000.00
09-Mar Cash $ 4,300.00 20-Mar Payment for Rental Fee $ 2,000.00 $ 3,800.00 Equipment $ 10,000.00
Service Revenue $ 4,300.00 31-Mar Salaries of Employers $ 3,100.00 $ 700.00 Accounts Payable $ 4,900.00
To record the revenue from admissions 31-Mar 1/2 payment of Ladd to their rent fee $ 450.00 $ 1,150.00 Owner's Capital $ 40,000.00
31-Mar Payment from the admissions $ 9,000.00 $10,150.00 Service Revenue $ 18,300.00
10-Mar Accounts Payable $ 4,100.00 Rent Revenue $ 900.00
Cash $ 4,100.00 Advertising Expense $ 900.00
To record the payment on movies and acct payable on March 1 Account: Account Receivables Account No: 112 Salaries and Wages Expense $ 3,100.00
Date Item Ref Debit Credit Balance Rent Expense $ 5,500.00
11-Mar No Entry 31-Mar Balance Payment of Ladd $ 450.00 $ 450.00 $ 64,100.00 $ 64,100.00

12-Mar Advertising Expense $ 900.00 Account: Land Account No: 140

Cash $ 900.00 Date Item Ref Debit Credit Balance
To record the payment for advertisement 01-Mar Balance ✓ $24,000.00

20-Mar Cash $ 5,000.00 Account: Building Account No: 145

Service Revenue $ 5,000.00 Date Item Ref Debit Credit Balance
To record the revenue from admissions 01-Mar Balance ✓ $10,000.00

Rent Expense $ 2,000.00 Account: Equipment Account No: 157

Cash $ 2,000.00 Date Item Ref Debit Credit Balance
To record the payment fo rental fee 01-Mar Balance ✓ $10,000.00

31-Mar Salaries Expense $ 3,100.00 Account: Accounts Payable Account No: 201
Cash $ 3,100.00 Date Item Ref Debit Credit Balance
To record the salary expense 01-Mar Balance ✓ $ 7,000.00
02-Mar For the Rent Expense $ 2,000.00 $ 9,000.00
Cash $ 450.00 10-Mar Payment on movies and payable on March 1 $ 4,100.00 $ 4,900.00
Account Receivables $ 450.00
Rent Revenue $ 900.00
To record the payment and balance of Ladd Account: Owner's Capital Account No: 301
Date Item Ref Debit Credit Balance
Cash $ 9,000.00 01-Mar Balance ✓ $40,000.00
Service Revenue $ 9,000.00
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 ✓ $ 4,300.00 $ 4,300.00
20-Mar Revenue from customer's admissions $ 5,000.00 $ 9,300.00
31-Mar Revenue from customer's admissions $ 9,000.00 $18,300.00

Account: Rent Revenue Account No: 429

Date Item Ref Debit Credit Balance
31-Mar Payment of Ladd to their Rent Fees $ 900.00 $ 900.00

Account: Advertising Expense Account No: 610

Date Item Ref Debit Credit Balance
12-Mar Payment for Advertisement $ 900.00 $ 900.00

Account: Salaries and Wages Expenses Account No: 726

Date Item Ref Debit Credit Balance
31-Mar Employer's Salary $ 3,100.00 $ 3,100.00

Account: Rent Expense Account No: 729

Date Item Ref Debit Credit Balance
02-Mar Film Rental $ 3,500.00 $ 3,500.00
20-Mar Payment of Rental Fee $ 2,000.00 $ 5,500.00
 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 $ 580.00
Cash $ 580.00
Cash $ 3,610.00 Cash $ 850.00
Account Receivables $ 2,542.00 Account Receivable $ 850.00
Supplies $ 490.00 2 Equipments $ 710.00
Equipment $ 3,310.00 Supplies $ 710.00
Accounts Payable $ 3,000.00 3 Service Revenue $ 882.00
Unearned Service Revenue $ 1,100.00 4 Salaries and Wages Expense $ 700.00
Owner's Capital $ 8,000.00 5 Accounts Payable $ 360.00
Owner's Drawing $ 1,400.00 Cash $ 306.00
Service Revenue $ 3,362.00 Accounts Payable $ 306.00
Salaries and Wages Expense $ 3,300.00 Cash $ 306.00
Utilities Expense $ 810.00 6 Owner's Drawing $ 600.00
$ 15,462.00 $ 15,462.00 Salaries and Wages Expenses $ 600.00

Adjustments

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

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