This is a sample file of how to format the journal entries,

general ledger accounts, worksheet, and the financial

statements. The numbers in these schedules do not tie
together and not meant to tie together. It is just to show the
proper formatting and what your project should look like
when you turn it in for grading.
 Journal Entries Page 1
Post
Date Account Ref Debit Credit
1-Jun Laptop 130 1,000.00
Cash 101 1,000.00
Purchased Laptop with cash
2-Jun Cash 101 1,500.00
Sales 401 1,500.00
Cash sales
3-Jun Photography Equipment 140 600.00
Accounts Payable 201 600.00
purchase equipment on account
4-Jun Travel Expense 540 275.00
Cash 101 275.00
paid for travel expenses
5-Jun Accounts Receivable 110 500.00
Sales 401 500.00
billed customers on account

Adjusting Journal Entries Page 2

Post
Date Account Ref Debit Credit
30-Jun Depreciation Ex- Photo Equipment 570 1,500.00
Accumulated Depr Photo Equipment 141 1,500.00
Record montly depreciation
30-Jun Supplies Expense 510 3,000.00
Supplies 120 3,000.00
Adjust Supplies to correct ending balance

Closing Journal Entries Page 3

Post
Date Account Ref Debit 8,200.00
30-Jun Sales 401 35,000.00
Income Summary 901 35,000.00
Close Sales Account
30-Jun Income Summary 901 19,300.00
Supplies Expense 510 3,000.00
Advertising Expense 520 4,000.00
Insurance Expense 530 100.00
Travel Expense 540 100.00
Cell Phone Expense 550 600.00
Equipment Repairs Expense 560 10,000.00
 Depreciation Expense - Equip. 570 1,500.00
Close Expense Accounts
30-Jun Income Summary 901 15,700.00
Molly - Capital 302 15,700.00
Close Income Summary to Molly Capital
30-Jun Molly - Capital 301 10,000.00
Molly - Drawing 302 10,000.00
Closing Drawing account
-
 Happy Smiles
General Ledger

ASSETS

Cash Acct # 101

Date Description Post Ref Debit Credit Balance
1-Jun Beginning Balance JE P 1 5,500.00
2-Jun Purchased Laptop with cash JE P 1 1,000.00 4,500.00
4,500.00
4,500.00
4,500.00
4,500.00
4,500.00
4,500.00
4,500.00
4,500.00
4,500.00

Accounts Receivable Acct # 110

Date Description Post Ref Debit Credit Balance
1-Jun Beginning Balance JE P 1 750.00
2-Jun Billed customers on account JE P 1 500.00 1,250.00
1,250.00
1,250.00

Supplies Acct # 120

Date Description Post Ref Debit Credit Balance
1-Jun Beginning Balance 100.00
30-Jun Adjust Supplies to correct ending balance
AJE P2 50.00 50.00

Laptop Acct # 130

Date Description Post Ref Debit Credit Balance
1-Jun Purchased Laptop with cash JE P1 1,000.00 1,000.00

Photography Equipment Acct # 140

Date Description Post Ref Debit Credit Balance
1-Jun Beginning Balance 2,000.00
2,000.00

Accumulated Depreciation - Photography Equipment Acct # 141

Date Description Post Ref Debit Credit Balance
1-Jun Beginning Balance 100.00
30-Jun Record montly depreciation AJE P2 100.00 200.00
100
LIABILITIES
3000
Accounts Payable Acct# 201
Date Description Post Ref Debit Credit Balance
1-Jun Beginning Balance 1,000.00
3-Jun purchase equipment on account JE P 1 600.00 1,600.00
1,600.00

EQUITY

Molly - Capital Acct# 301

Date Description Post Ref Debit Credit Balance
1-Jun Beginning Balance 7,250.00
30-Jun Close Income Summary to Molly Capital
CJE P 3 15,700.00 22,950.00
30-Jun Close Drawing account CJE P 3 10,000.00 12,950.00

Molly - Drawing Acct# 302

Date Description Debit Credit Balance
1-Jun Beginning Balance 15,000.00
30-Jun Close Drawing account 1000 10,000.00 5,000.00
3000
REVENUE

SALES Acct# 401

Date Description 0 Debit Credit Balance
1-Jun Sales on account JE P 1 1,500.00 1,500.00
3-Jun Cash Sales JE P 1 500.00 2,000.00
2,000.00
2,000.00

EXPENSES

Supplies Expense Acct# 510

Date Description Post Ref Debit Credit Balance
30-Jun Adjust Supplies to correct ending balance
AJE P2 3,000.00 3,000.00
30-Jun Close Expense Accounts CJE P 3 3,000.00 -

Advertising Expense Acct# 520

Date Description Post Ref Debit Credit Balance
 Insurance Expense Acct# 530
Date Description Post Ref Debit Credit Balance

Income Summary Acct# 901

Date Description Post Ref Debit Credit Balance
30-Jun Close Sales Account CJE P 3 35,000.00 35,000.00
30-Jun Close Expense Accounts CJE P 3 19,300.00 15,700.00
30-Jun Close Income Summary CJE P 3 15,700.00 -
 HAPPY SMILES WORKSHEET FOR JUNE 20XX
Unadjusted Trial Balance Adjustments Adjusted Trial Balance Income Statement Balance Sheet
Acct# Account Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit
101 Cash 6,000.00 6,000.00 6,000.00
110 Accounts Receivable 3,000.00 3,000.00 3,000.00
120 Supplies 10,000.00 3,000.00 7,000.00 7,000.00
130 Laptop 1,000.00 1,000.00 1,000.00
140 Photography Equipment 2,000.00 2,000.00 2,000.00
141 Accumulated Depr. Photo-Equip 100.00 1,500.00 1,600.00 1,600.00
201 Accounts Payable 1,600.00 1,600.00 1,600.00
301 Molly - Capital 12,000.00 12,000.00 12,000.00
302 Molly - Drawing 14,000.00 14,000.00 14,000.00
401 Sales 26,000.00 26,000.00 26,000.00
510 Supplies Expense 1,000.00 3,000.00 4,000.00 4,000.00
520 Advertising Expense 1,100.00 1,100.00 1,100.00
530 Insurance Expense 400.00 400.00 400.00
540 Travel Expense 500.00 500.00 500.00
550 Cell Phone Expense 600.00 600.00 600.00
560 Equipment Repairs Expense 100.00 100.00 100.00
570 Depreciation Expense - Equip. 1,500.00 1,500.00 1,500.00
Totals 39,700.00 39,700.00 4,500.00 4,500.00 41,200.00 41,200.00 8,200.00 26,000.00 33,000.00 15,200.00
Net Income 17,800.00 17,800.00
Totals 26,000.00 26,000.00 33,000.00 33,000.00
 Note for the heading of all financial statements, it follows a pattern:
LINE 1 Is the name of the company
LINE 2 Is the name of the statement
LINE 3 is for the period (Income statement and Statement of Owner's equity) or the Date
(Balance Sheet and Trial Balance)
Second, their are not debit and credit columns except in a trial balance.
The column on the left is for detail calculations, the column on the right is for summary
information.
Third, look at the use of the dollar sign and the underlines.

Happy Smiles
Income Statement
For the Month Ended June 30, 20XX
Revenues
Sales $ 5,000.00

Expenses
Supplies Expense $ 100.00
Advertising Expense 200.00
Insurance Expense 200.00
Travel Expense 200.00
Cell Phone Expense 200.00
Equipment Repairs Expense 200.00
Depreciation Expense - Equip. 200.00
Total Expenses 1,300.00

Net Income $ 3,700.00

Happy Smiles
Statement of Owner's Equity
For the Month Ended June 30, 20XX
Molly - Capital May 31, 20XX $ 8,000.00
Add Net Income $ 3,700.00
Less Molly - Drawig 300.00
Net Increase 3,400.00

Molly Capital June 30, 20XX $ 11,400.00

 Happy Smiles
Balance Sheet
June 30, 20XX
ASSETS
Cash $ 15,000.00
Accounts Receivable 2,000.00
Supplies 100.00
Laptop 1,000.00
Photography Equipment $ 3,000.00
Accumulated Depr. Photo-Equip 1,500.00 1,500.00
Total Assets $ 19,600.00

LIABILITIES
Accounts Payable $ 8,200.00

OWNER'S EQUITY
Molly - Capital 11,400.00

Total Liabilities and Equity $ 19,600.00

Happy Smiles
Post Closing Trial Balance
June 30, 20XX
Acct # Account Debit Credit
101 Cash $ 15,000.00
110 Accounts Receivable 2,000.00
120 Supplies 100.00
130 Laptop 1,000.00
140 Photography Equipment 3,000.00
141 Accumulated Depr. Photo-Equip $ 1,500.00
201 Accounts Payable 8,200.00
301 Molly - Capital 11,400.00
302 Molly - Drawing
401 Sales
510 Supplies Expense
520 Advertising Expense
530 Insurance Expense
540 Travel Expense
550 Cell Phone Expense
560 Equipment Repairs Expense
570 Depreciation Expense - Equip.

Totals $ 21,100.00 $ 21,100.00