FA 1 – Final Project 1

Delta Electronics

Abdul Nafay Rasheed

Amna Saeed

Warda Naeem

Oniya Abbas

Lahore School of Economics

Financial Accounting 1

Ms. Azka Sarosh

1
Contents
Disclaimer........................................................................................................................................3
Executive Summary.........................................................................................................................3
Transactions:....................................................................................................................................3
Trial Balance at the Beginning........................................................................................................5
General Journal................................................................................................................................6
Revenue Journal.............................................................................................................................11
Purchases Journal...........................................................................................................................12
Cash Receipt Journal.....................................................................................................................13
Cash Payment Journal....................................................................................................................14
General Ledger..............................................................................................................................15
Accounts Receivable Subsidiary Ledger.......................................................................................21
Accounts Payable Subsidiary Ledger............................................................................................23
Unadjusted Trial Balance..............................................................................................................24
Adjusting Entries and Posting.......................................................................................................25
Adjustment Recording...................................................................................................................26
Adjusted Trial Balance..................................................................................................................28
Income Statement..........................................................................................................................29
Statement of Owner’s Equity.........................................................................................................30
Balance Sheet.................................................................................................................................31
Closing Entries...............................................................................................................................32
Post-Closing Trial Balance............................................................................................................33

Disclaimer
The name of the company has been changed, keeping in view the request of the business’ owner.

Similarly, the owner’s name is also changed, and all the customer names and dates are

hypothetical.
 Executive Summary
Delta Electronics was established as a small retail store, in 2001, and it has been operating at a

medium scale, in Lahore. The Owner of the Store – Hamid Ali – has expanded the store to 2

locations. It has one outlet in Shah Alam Market, and the other one at Raiwind Road. It deals in

various electronic goods and the stores are monitored closely by the owner himself.

Transactions:
1. Capital on 1st July 2020 is Rs.190, 000.
2. Prepaid Rent Expense on 1st July 2020 is Rs.4000
3. Cash Sales on 2nd July 2020, Rs. 1800.
4. Paid Telephone expense Rs.6500, on 2nd July.
5. Paid electricity expense Rs. 900, on 2nd July.
6. Purchased Supplied on credit from Imtiaz Superstore, Rs. 1500, on 2nd July.
7. Prepaid Property tax, Rs.8000 on 2nd July.
8. Sold goods on cash worth Rs. 6000 on 3rd July.
9. Sold goods for Rs. 650 on 4th July.
10. Paid Delivery Charges Rs. 350 4th July.
11. Sold goods on cash Rs.2100 on 5th July.
12. Paid insurance in Advance Rs.1200 on 6th July.
13. Goods sold on credit Rs. 7500 to Bhatti Electronics on 6th July.
14. On 6th July, Hamid Ali took Rs.3000 for personal use.
15. Sold goods worth Rs.5400 to M. Abdullah Electronics on credit on 6th July.
16. On 7th July, Hanif Electronics paid Rs. 20,000.
17. Cash sales Rs. 700 on 7th July,
18. Purchased Office Equipment rs. 74000 on cash on 10th July.
19. On 11th July, Subhan Electronics Paid Rs. 42000, after 2000 discount.
20. Sold goods on cash Rs.87650 on 11th July.
21. Paid advertising Expenses Rs.1100 on 12th July.
22. Returned goods worth Rs.3000 back to SI Electronics on 14thJuly.
23. Pak Traders paid Rs. 60,000 in cash on 14th July.
24. Purchased supplies Rs. 670 on 15th July.
25. On 15th July paid Rs.42000 to Shahid Electronics.
26. Sold goods Rs.530 on 15th July
27. On 16th July, sold goods on cash Rs.6000
28. Received cash 54000 from Hafiz Electronics on 16th July
29. Commission Received Rs. 740 on 18th July.
30. Hamid Ali invested Rs.15000 into business on 18th July
 31. Received cash Rs. 25000 from Khurram Electronics on 19th
32. Purchased goods on credit from Orient Worth Rs.200 on 19th
33. On 20th July, Purchased Good Rs.45000
34. On 21st July Sold goods for cash Rs.12000
35. Sold goods on credit for Rs 50,000 to Spice Bazaar on 22nd July
36. M. Abdullah Electronics paid Rs. 5400 on 22nd July
37. On 22nd, paid Haider software solution cash worth Rs.8000
38. Bought supplies for Rs.1500 on cash on 22nd July
39. On 23rd July, Bought delivery motorbike on cash Rs. 62750
40. Sold goods on cash Rs.900, on 23rd July
41. Paid Rs.325 to Sitara Electric Store.
42. On 24th July, retired goods worth 2200 to Javed Electric store.
43. On 24th July, paid cash worth Rs. 1500 to Imtiaz Superstore.
44. Cash sales on 24th July Rs. 230
45. On 25th July, paid delivery charges 2400.
46. Bought Computer for Rs.87000 on cash, on 26th July
47. Sold goods on cash Rs.105 on 26th July
48. Paid store repair Expenses Rs.1800 on 27th July
49. On 27th July, Paid Petrol Expenses Rs.1450
50. Cash sales rs.75 on 27th July
51. Sold goods on credit to Hafiz Electronics, Rs. 54000 on 27th July
52. Paid cash Rs. 6500 to Modern Electronics on 28th July
53. Sold goods Rs.770 on cash on 28th July
54. On 29th July, sold goods worth Rs.2500 on Cash
55. Bhatti electronics returned goods worth Rs. 3450 on 29th July
56. Paid miscellaneous Expenses Rs. 1600 on 29th July
57. On 30th July, paid cleaning staff expenses, Rs.5700
58. Sold goods on cash worth Rs. 600 on 30th July
59. Purchased goods from Yasir Rs, 16000 on 30th July
60. Paid office employees’ Salaries on 30th July, Rs. 35000.

Trial Balance at the Beginning

Account Debit Credit
Cash 66600
Hanif Electronics Lahore, Accounts Receivable 40000
Pak Traders Lahore, Accounts Receivable 60000
Khurram Electronics, Accounts Receivable 25000
Haseeb Corporation Lahore, Accounts Receivable 16250
Subhan Electronics Lahore, Accounts Payable 44000
SI Electronics Lahore, Accounts Payable 7825
Shahid Electronics Lahore, Accounts Payable 42000
Qadri Electric Store, Accounts Payable 8000
Sitara Electric Store, Accounts Payable 325
Javed Electric Store, Accounts Payable 4200
Washeek Electric Store, Accounts Payable 6500
Hamid Ali, Capital 5000
Sales 180000
Purchases 90000
297850 297850
 General Journal

Date Description P/R Debit Credit

2020
July 1 Cash 190000
Capital 190000

1 Prepaid Rent Expense 4000

Cash 4000

2 Cash 1800
Sales 1800

2 Telephone Expense 6500

Cash 6500

2 Electricity Expense 900

Cash 900

2 Supplies 1500
Imtiaz Superstore, Accounts Payable 1500

2 Prepaid Property Tax 8000

Cash 8000

3 Cash 6000
Sales 6000

4 Cash 650
Sales 650

4 Delivery Charges 350

Cash 350

5 Cash 2100
Sales 2100

6 Prepaid Insurance Expense 12000

Cash 12000
6 Bhatti Electronics, Accounts Receivable 7500
Sales 7500

6 Drawings 3000
Cash 3000

6 M Abdullah Electronics, Accounts Receivable 5400

Sales 5400

7 Cash 20000
Hanif Electronics, Accounts Receivable 20000

7 Cash 700
Sales 700

10 Office Equipment 74000

Cash 74000

11 Subhan Electronics, Accounts Payable 44000

Purchases Discount 2000
Cash 42000

11 Cash 87560
Sales 87560

12 Advertising Expense 1100

Cash 1100

14 SI Electronics, Accounts Payable 3000

Purchases Returns and Allowances 3000

14 Cash 60000
PAK Traders, Accounts Receivable 60000

15 Supplies 670
Cash 670

15 Shahid Electronics, Accounts Payable 42000

Cash 42000

15 Cash 530
Sales 530
16 Cash 6000
Sales 6000

16 Hafiz Electronics, Accounts Receivable 54000

Sales 54000

18 Cash 740
Commission Received 740

18 Cash 15000
Capital 15000

19 Cash 25000
Khurram Electronics, Accounts Receivable 25000

19 Purchases 2000
Orient, Accounts Payable 2000

20 Purchases 45000
Cash 45000

21 Cash 12000
Sales 12000

22 Spice Bazaar, Accounts Receivable 50000

Sales 50000

22 Cash 5400
M Abdullah Electronics, Accounts Receivable 5400

22 Haider Software Solutions, Accounts Payable 8000

Cash 8000

22 Supplies 1500
Cash 1500

23 Delivery Motor Bike 62750

Cash 62750

23 Cash 900
Sales 900

24 Sitara Electric Store, Accounts Payable 325

 Cash 325

24 Javed electric Store, Accounts Payable 2200

Purchases Returns and Allowances 2200

24 Imtiaz Superstore, Accounts Payable 1500

Cash 1500

24 Cash 230
Sales 230

25 Delivery Charges 2400

Cash 2400

26 Computer 87000
Cash 87000

26 Cash 105
Sales 105

27 Store Repairs Expense 1800

Cash 1800

27 Petrol Expense 1450

Cash 1450

27 Cash 75
Sales 75

27 Cash 54000
Hafiz Electronics, Accounts Receivable 54000

28 Modern Electronics 6500

Cash 6500

28 Cash 770
Sales 770

29 Cash 2500
Sales 2500

29 Sales Returns and Allowances 3450

Bhatti Electronics, Accounts Receivable 3450
29 Miscellaneous Expense 1600
Cash 1600

30 Cleaning Staff Expenses 5700

Cash 5700

30 Cash 600
Sales 600

30 Purchases 16000
Yasir, Accounts Payable 16000

30 Office Employee Salaries 35000

Cash 35000
 Revenue Journal
Revenue Journal Page 1
Accounts
P/ Recievable Dr./
Date Invoice No. Accounts Debited R Sales Cr.
2020
July 6 412 Bhatti Electronics 7500
6 413 M Abdullah Electronics 5400
16 414 Hafiz Electronics 54000
22 415 Spice Bazaar 50000
30 116900
 Purchases Journal
Purchases Journal Page 1
Account
s Other
Accounts P/ Payable Purchase Supplie Account P/ Amoun
Date Credited R Cr. s Dr. s Dr. s Dr. R t
2020
Imtiaz
July 2 Superstore 1500 1500
19 Orient 2000 2000
30 Yasir 16000 16000
30 19500 18000 1500 -
19500 19500
 Cash Receipt Journal
Cash Receipts Journal Page 1
Other Accounts
P/ Account Receivabl Cash
Date Accounts Credited R s Cr. Sales Cr. e Cr. Dr.

2020
19000
July 1 Capital 190000 0
2 Sales 1800 1800
3 Sales 6000 6000
4 Sales 650 650
5 Sales 2100 2100
7 Hanif Electronics 20000 20000
7 Sales 700 700
11 Sales 87560 87560
14 PAK Traders 60000 60000
15 Sales 530 530
16 Sales 6000 6000
18 Commision Received 740 740
18 Capital 15000 15000
19 Khurram Electronics 25000 25000
21 Sales 12000 12000
22 M Abdullah Electronics 5400 5400
23 Sales 900 900
24 Sales 230 230
26 Sales 105 105
27 Sales 75 75
27 Hafiz Electronics 54000 54000
28 Sales 770 770
29 Sales 2500 2500
30 Sales 600 600
49266
30 205740 122520 164400 0
49266
492660 0
 Cash Payment Journal
Page
Cash Payments Journal 1
Accoun Purchas
Other ts es
Chec P/ Accoun Payable Discount Cash
Date k no. Accounts Debited R ts Dr. Dr. s Cr. Cr.
2020
July 1 Prepaid Rent Expense 4000 4000
2 Electricity Expense 6500 6500
2 Telephone Expense 900 900
2 Prepaid Property Tax 8000 8000
4 Delivery Charges 350 350
Prepaid Insurance
6 Expense 12000 12000
6 Drawings 3000 3000
10 Office Equipment 74000 74000
11 Subhan Electronics 44000 2000 42000
12 Advertising Expense 1100 1100
15 Supplies 670 670
15 Shahid Electronics 42000 42000
20 Purchases 45000 45000
Haider Software
22 Solutions 8000 8000
22 Supplies 1500 1500
23 Delivery Motor Bike 62750 62750
24 Sitara Electric Store 325 325
24 Imtiaz Superstore 1500 1500
25 Delivery Charges 2400 2400
26 Computer 87000 87000
27 Store Repairs Expense 1800 1800
27 Petrol Expense 1450 1450
28 Modern Electronics 6500 6500
29 Miscellaneous Expense 1600 1600
Cleaning Staff
30 Expenses 5700 5700
Office Employee
30 Salaries 35000 35000
45504
30 354720 102325 2000 5
457045 457045
General Ledger
Accounts Receivable Acc no. 112
Date Particulars P/R Debit Credit Balance
Debit Credit
2020
July 1 Balance ü 141250
2
ü 3450 137800
9
3
116900 254700
0
3
164400 90300
0

Sales Acc no. 410

Date Particulars P/R Debit Credit Balance
Debit Credit
2020
July 1 Balance ü 180000
30 116900 296900
30 122520 419420

Accounts Payable Acc no. 210

Date Particulars P/R Debit Credit Balance
 Debit Credit
2020
July 1 Balance ü 112850
14 ü 3000 109850
24 ü 2200 107650
30 19500 127150
30 102325 24825

Purchases Acc no. 510

Date Particulars P/R Debit Credit Balance
Debit Credit
2020
July 1 Balance ü 90000
20 ü 45000 135000
30 18000 153000

Acc
Cash no. 110
P/
Date Particulars Debit Credit Balance
R
Debit Credit
2020
July 1 Balance ü 66600
3
492660 559260
0
3
455045 104215
0

Acc
Hamid Ali, Capital no. 310
Date Particulars P/R Debit Credit Balance
Debit Credit
2020
July 1 Balance ü 5000
1 190000 195000
1
15000 210000
8
 Prepaid Rent Expense Acc no. 117

Date Particulars P/R Debit Credit Balance

Debit Credit
2020
July 1 4000 4000

Electricity Expense Acc no. 536

Date Particulars P/R Debit Credit Balance
Debit Credit
2020
July 2 6500 6500

Telephone Expense Acc no. 537

Date Particulars P/R Debit Credit Balance
Debit Credit
2020
July 2 900 900

Acc no.
Supplies 116
Date Particulars P/R Debit Credit Balance
Debit Credit
2020
July 2 ü 1500 1500
1
670 2170
5
2
1500 3670
2

Acc no.
Prepaid Property Tax 118
Date Particulars P/R Debit Credit Balance
Debit Credit
2020
July 2 8000 8000
 Acc no.
Delivery Expense 523
Date Particulars P/R Debit Credit Balance
Debit Credit
2020
July 4 350 350
2
2400 2750
5

Prepaid Insurance Expense Acc no. 119

Date Particulars P/R Debit Credit Balance
Debit Credit
2020
July 6 12000 12000

Hamid Ali, Drawings Acc no. 311

Date Particulars P/R Debit Credit Balance
Debit Credit
2020
July 6 3000 3000

Office Equipment Acc no. 125

Date Particulars P/R Debit Credit Balance
Debit Credit
2020
1
July 0 74000 74000

Purchases Discount Acc no. .512

Date Particulars P/R Debit Credit Balance
Debit Credit
2020
July 11 2000 2000

Advertising Expense Acc no. 521

Date Particulars P/R Debit Credit Balance
Debit Credit
2020
July 12 1100 1100

Purchases Returns and Allowances Acc no. 511

Date Particulars P/R Debit Credit Balance
Debit Credit
2020
July 14 3000 3000
24 2200 5200

Acc no.
Commission Received 610
Date Particulars P/R Debit Credit Balance
Debit Credit
2020
July 18 740 740

Acc no.
Motor Bike 123
Date Particulars P/R Debit Credit Balance
Debit Credit
2020
July 23 62750 62750
 Acc no.
Computer 124
Date Particulars P/R Debit Credit Balance
Debit Credit
2020
July 26 87000 87000

Acc no.
Store Repairs Expense 538
Date Particulars P/R Debit Credit Balance
Debit Credit
2020
July 27 1800 1800

Acc no.
Petrol Expense 529
Date Particulars P/R Debit Credit Balance
Debit Credit
2020
July 27 1450 1450

Acc no.
Sales Returns and Allowances 411
Date Particulars P/R Debit Credit Balance
Debit Credit
2020
July 29 3450 3450

Acc no.
Miscellaneous Expense 539
Date Particulars P/R Debit Credit Balance
Debit Credit
2020
July 29 1600 1600

Acc no.
Cleaning Staff Expenses 520
Date Particulars P/R Debit Credit Balance
Debit Credit
2020
July 30 5700 5700

Acc no.
Office Employee Salaries 530
Date Particulars P/R Debit Credit Balance
Debit Credit
2020
July 30 35000 35000

Accounts Receivable Subsidiary Ledger

PAK Traders, LHR

Date Particulars P/R Debit Credit Balance
2020
July 1 Balance ü 60000
1
60000 -
4

Spice Bazaar
Date Particulars P/R Debit Credit Balance
2020
2
July ü 50000 50000
2

Bhatti Electronics
Date Particulars P/R Debit Credit Balance
2020
July 6 ü 7500 7500
 2
3450 4050
9

Khurram Electronics
Date Particulars P/R Debit Credit Balance
2020
July 1 Balance ü 25000
1
25000 0
9

Hanif Electronics
Date Particulars P/R Debit Credit Balance
2020
July 1 Balance ü 40000
7 20000 20000

Haseeb Electric Store, LHR

Date Particulars P/R Debit Credit Balance
2020
July 1 Balance ü 16250

Hafiz Electronics
Date Particulars P/R Debit Credit Balance
2020
1
July ü 54000 54000
6
2
54000 0
7

M. Abdullah Electronics
Date Particulars P/R Debit Credit Balance
2020
July 6 ü 5400 5400
2
5400 0
2
 Accounts Payable Subsidiary Ledger
Yasir
Date Particulars P/R Debit Credit Balance
2020
3
July ü 16000 16000
0

Shahid Electronics Lahore

Date Particulars P/R Debit Credit Balance
2020
July 1 Balance ü 42000
1
42000 0
5

Javed Electric Store

Date Particulars P/R Debit Credit Balance
2020
July 1 Balance ü 4200
2
2200 6400
4

Subhan Electronics, Lahore

Date Particulars P/R Debit Credit Balance
2020
July 1 Balance ü 44000
1
44000 0
1

SI Electronics, Lahore
Date Particulars P/R Debit Credit Balance
2020
July 1 Balance ü 7825
1
3000 10825
4
 Unadjusted Trial Balance
Delta Electronics
Unadjusted Trial Balance
31st July 2020
Details Debit Credit
Cash 104215
Account Receivables 90300
Supplies 3670
Office Equipment 74000

Accumulated Depreciation-office Equipment

Delivery Motor Bike 62750
Computer 87000
Prepaid Rent Expense 4000
Prepaid Property Tax 8000
Prepaid Insurance Expense 12000
Account Payables 24825
Accrued Office Employee Salaries
Hamid Ali, Capital 210000
Hamid Ali, Drawings 3000
Commission Received 740
Sales 419420
Purchase 15300
Sales Returns and Allowance 3450
Purchase Returns and Allowance 5200
Purchase Discounts 2000
Office Employee Salaries 35000
Cleaning Staff Salaries 5700
Electricity Expense 6500
Delivery Expense 2750
Supplies Expense
Store Repairs Expense 1800
Property Tax Expense
Advertising Expense 1100
Petrol Expense 1450
Rent Expense
Telephone Expense 900
Depreciation Expense-Equipment
Insurance Expense
Misc. Expense 1600
662185 662185
 Adjusting Entries and Posting
1. Insurance Expired during month Rs.400
2. Depreciation of Office Equipment During the month was Rs. 800
3. Accrued Office Salaries Rs. 1200
4. Rent Expired during the month Rs. 2000
5. Prepaid Supply Expense Rs.2310
6. Property Tax expired during the month rs.2000

Description P/R Debit Credit

1
Adjusting Entries
Insurance Expense 400
Prepaid Insurance Expense 400

2 Depreciation Expense - Office Equipment 800

Accumulated Depreciation - Office
Equipment 800

3 Office Employee Salaries 12000

Accrued Office Employee Salaries 12000

4 Rent Expense 2000

Prepaid Rent Expense 2000

5 Supplies Expense 2310

5 Supplies 2310

6 Property Tax Expense 2000

Prepaid Property Tax 2000
 Adjustment Recording
Acc no.
Accumulated Depreciation - Office Equipment 126
P/
Date Particulars R Debit Credit Balance
Debit Credit
2020
July 31 Adjusting 800 800

Acc no.
Accrued Office Staff Salary 211
P/
Date Particulars R Debit Credit Balance
Debit Credit
2020
July 31 Adjusting 12000 12000

Acc no.
Supplies Expense 534
P/
Date Particulars R Debit Credit Balance
Debit Credit
2020
July 31 Adjusting 2310 2310

Acc no.
Property Tax Expense 535
P/
Date Particulars R Debit Credit Balance
Debit Credit
2020
July 31 Adjusting 2000 2000

Acc no.
Rent Expense 531
P/
Date Particulars R Debit Credit Balance
Debit Credit
2020
July 31 Adjusting 2000 2000
 Acc no.
Depreciation Expense - Office Equipment 532
P/
Date Particulars R Debit Credit Balance
Debit Credit
2020
July 31 Adjusting 800 800

Acc no.
Insurance Expense 533
P/
Date Particulars R Debit Credit Balance
Debit Credit
2020
July 31 Adjusting 400 400
 Adjusted Trial Balance
Delta Electronics
Unadjusted Trial Balance
31st July 2020
Details Debit Credit
Cash 104215
Account Receivables 90300
Supplies 3670
Office Equipment 74000
Accumulated Depreciation-office Equipment 800
Delivery Motor Bike 62750
Computer 87000
Prepaid Rent Expense 4000
Prepaid Property Tax 8000
Prepaid Insurance Expense 12000
Account Payables 24825
Accrued Office Employee Salaries 12000
Hamid Ali, Capital 210000
Hamid Ali, Drawings 3000
Commission Received 740
Sales 419420
Purchase 15300
Sales Returns and Allowance 3450
Purchase Returns and Allowance 5200
Purchase Discounts 2000
Office Employee Salaries 35000
Cleaning Staff Salaries 5700
Electricity Expense 6500
Delivery Expense 2750
Supplies Expense 2310
Store Repairs Expense 1800
Property Tax Expense 2000
Advertising Expense 1100
Petrol Expense 1450
Rent Expense 2000
Telephone Expense 900
Depreciation Expense-Equipment 800
Insurance Expense 400
Misc. Expense 1600
674985 674985
 Income Statement
Delta Electronics
Income Statement
For the month ended July 31, 2020

Revenue from Sales:-

Sales 419,420
Sales Return and
Less: Allowances 3450
Net Sales 415,970

Cost of Goods Sold:-

Purchases 153,000
Purchases Returns and
Less: Allowances 5200
Purhases
Discount 2000 7200
Net Purchases 145,800
Gross Profit 270,170
Add: Commission Received 740
270,910
Less: Expenses
Office Employee Salary 47000
Cleaning Staff Salary 5700
Telephone Expense 6500
Delivery Expense 2750
Supplies Expense 2310
Store Repairs Expense 1800
Property Tax Expense 2000
Advertising Expense 1100
Petrol Expense 1450
Rent Expense 2000
Electricity Expense 900
Depreciation Expense - Office Equipment 800
Insurance Expense 400
Miscellaneous Expense 1600
76,310
Net Profit 194,600

Statement of Owner’s Equity

Delta Electronics
 Statement of Owner's Equity
For the month ended July 31, 2020
Hamid Ali, Capital at July 1, 2020 5000
Investment during the year 205,000
210,000
Net Income 194,600
Less: Drawings 3000
Increase in Owner's Equity 191600
Hamid Ali, Capital at July 31, 2020 401,600
 Balance Sheet
Delta Electronics
Balance Sheet
As at July 31, 2020
Assets
Current Assets:
10421
Cash 5
Accounts Receivable 90300
Supplies 1360
Prepaid Rent Expense 2000
Prepaid Property Tax 6000
Prepaid Insurance Expense 11600
21547
Total Current Assets 5
Property, plant and equipment:
7400
Office Equipment 0
Less: Accumulated Depreciation - Office Equipment 800 73200
Delivery Motor Bike 62750
Computer 87000
22295
Total property, plant and equipment 0
43842
Total Assets 5

Liabilities
Accounts Payable 24825
Accrued Office Employee Salaries 12000
36825
Owner's Equity
40160
Hamid Ali, Capital at July 30, 2020 0
43842
Total Liabilities and Owner's Equity 5
 Closing Entries
Details Debit Credit
Fee Earned 415970
Office Employee Salary 47000
Cleaning Staff Salary 5700
Telephone Expense 6500
Delivery Expense 2750
Supplies Expense 2310
Store Repairs Expense 1800
Property Tax Expense 2000
Advertising Expense 1100
Petrol Expense 1450
Rent Expense 2000
Electricity Expense 900
Depreciation Expense - Office Equipment 800
Insurance Expense 400
Miscellaneous Expense 1600
Hamid Ali, Capital 194,600
 Post-Closing Trial Balance
Delta Electronics
Post-Closing Trial Balance
For the month ended July 31, 2020
Debit Credit
Account Balances Balances
Cash 104215
Account Receivable 90300
Supplies 1360
Prepaid Rent Expense 2000
Prepaid Property Tax 6000
Prepaid Insurance Expense 11600
Office Equipment 74000
Accumulated Depreciation- Office
Equipment 800
Delivery Motor Bike 62750
Computer 87000
Accounts Payable 24825
Accrued Office Employee Salaries 12000
Hamid Ali, Capital 401,600
439225 439225