COMBINATION JOURNA

Date Explanation Ref Cash Accounts Receivable

Debit Credit Debit Credit
9/1/2022 Initial investment 300,000.00
9/3/2022 bought vehicle for cash 150,000.00
9/6/2022 bought tables and chairs -cash 25,000.00
9/9/2022 bought office supplies 3,000.00
9/10/2022 rendered services for cash 7,000.00
9/12/2022 rendered services-cash/on acct 15,000.00 5,000.00
9/15/2022 rendered services for cash 8,000.00
9/15/2022 paid employee's salary 2,000.00
9/17/2022 bought furniture & fixture on account
9/18/2022 collected from 9/12 customer 5,000.00 5,000.00
9/20/2022 rendered services -cash and on acc 15,000.00 3,000.00
9/22/2022 received electric bill
9/24/2022 rendered services for cash 17,000.00
9/25/2022 paid the electric bill 1,500.00
9/26/2022 paid 50% 0f the storage cabinet 6,000.00
9/27/2022 rendered services for cash 14,000.00
9/28/2022 paid bal of the storage cabinet 6,000.00
9/30/2022 collected from customer of 9/20 3,000.00 3,000.00
384,000.00 193,500.00 8,000.00 8,000.00
190,500.00
384,000.00 384,000.00
OMBINATION JOURNAL
Accounts Payable Service Income Sundry
Debit Credit Debit Credit Accounts F Debit
RS, Capital
Delivery vehicle 150,000.00
Furniture & Fixtures 25,000.00
Office Supplies 3,000.00
7,000.00
20,000.00
8,000.00
Salaries Expense 2,000.00
12,000.00 Furniture & Fixtures 12,000.00

18,000.00
1,500.00 Utilities Expense 1,500.00
17,000.00
1,500.00
6,000.00
14,000.00
6,000.00

13,500.00 13,500.00 - 84,000.00

Credit
300,000.00
Date Particulars PR Debit
2022
Sept 1 Cash GL-10 300,000.00
RS, Capital GL-210
initial investment

Sept 3 Delivery Vehicle GL-50 150,000.00

Cash GL-10
bought a vehicle for cash

Sept 6 Furniture & Fixtures GL-40 25,000.00

Cash GL-10
bought tables and chairs

Sept 9 Office Supplies GL-30 3,000.00

cash GL-10
bought office supplies

Sept 10 Cash GL-10 7,000.00

Service income GL-310
collected from customers for services rendered

Sept 12 Cash GL-10 15,000.00

Accounts Receivable GL-20 5,000.00
Service income GL-310
rendered services both for cash and on account

Sept 15 Cash GL-10 8,000.00

Service income GL-310
collected from customers for services rendered

Sept 15 Salaries Expense GL-410 2,000.00

Cash GL-10
paid employee's salary

Sept 17 Furniture & Fixtures GL-40 12,000.00

Accounts Payable GL-110
bought storage cabinet on account

Sept 18 Cash GL-10 5,000.00

Accounts Receivable GL-20
collected from customer of 9/12

Sept 20 Cash GL-10 15,000.00

 Accounts Receivable GL-20 3,000.00
Service income GL-310
rendered services both for cash and on account

Sept 22 Utilities Expense GL-420 1,500.00

Accounts payable GL-110
Received electril bill

Sept 24 Cash GL-10 17,000.00

Service income GL-310
rendered services for cash

Sept 25 Accounts Payable GL-110 1,500.00

Cash GL-10
paid the electric bill

Sept 26 Accounts Payable GL-110 6,000.00

Cash GL-10
paid 50% of the storage cabinet

Sept 27 Cash GL-10 14,000.00

Service income GL-310
rendered services for cash

Sept 28 Accounts Payable GL-110 6,000.00

Cash GL-10
paid bal for the storage cabinet

Sept 30 Salaries expense GL-410 2,000.00

Cash GL-10
paid employee's salary

Sept 30 Cash GL-10 3,000.00

Accounts Receivable GL-20
collected from customer of 9/20
Credit

300,000.00 Cash 10
Accounts Receivable 20
Office Supplies 30
Furniture & Fixtures 40
150,000.00 Delivery Vehicle 50
Accounts Payable 110
RS, Capital 210
Service Income 310
25,000.00 Salaries Expense 410
Utilities Expense 420

3,000.00

7,000.00

20,000.00

8,000.00

2,000.00

12,000.00

5,000.00
18,000.00

1,500.00

17,000.00

1,500.00

6,000.00

14,000.00

6,000.00

2,000.00

3,000.00
Account Name Cash
Account Number 10
Date Particulars JR Debit
9/1/2022 INITIAL INVESTMENT J1 300,000.00
9/3/2022 bought vehicle for cash J1
9/6/2022 bought tables and chairs J1
9/9/2022 bought office supplies J1
9/10/2022 rendered services J1 7,000.00
9/12/2022 rendered services J1 15,000.00
9/15/2022 collected from customers J1 8,000.00
9/15/2022 paid salaries J1
9/18/2022 collected from customers J1 5,000.00
9/20/2022 rendered services J1 15,000.00
9/24/2022 rendered services J1 17,000.00
9/25/2022 paid electric bill J1
9/26/2022 paid 50% storage cabinet J1
9/27/2022 rendered services J1 14,000.00
9/28/2022 paid bal for storage cabinet J1
9/30/2022 paid salaries J1
9/30/2022 collected from customers J1 3,000.00
384,000.00

188,500.00
Account Name Accounts Receivable
Account Number 20
Date Particulars JR Debit
9/12/2022 rendered services J1 5,000.00
9/18/2022 collected from customers J1
9/20/2022 rendered services J1 3,000.00
9/30/2022 collected from customers J1
8,000.00

Account Name Office Supplies

Account Number 30
Date Particulars JR Debit
9/9/2022 bought office supplies J1 3,000.00
Account Name Furniture & Fixtures
Account Number 40
Date Particulars JR Debit
9/6/2022 bought tables and chairs J1 25,000.00
9/17/2022 bought storage cabinet J1 12,000.00
37,000.00

Account Name Delivery Vehivcle

Account Number 50
Date Particulars JR Debit
9/3/2022 bought vehicle for cash J1 150,000.00
 Account Name Accounts Payable
Account Number 110
Credit Date Particulars JR
9/17/2022 bought storage cabinet J1
150,000.00 9/22/2022 received electric bill J1
25,000.00 9/25/2022 paid electric bill J1
3,000.00 9/26/2022 paid 50% for storage cabin J1
9/28/2022 paid bal for storage cabine J1

2,000.00

1,500.00
6,000.00

6,000.00
2,000.00

195,500.00

Account Name RS, Capital

Account Number 210
Credit Date Particulars JR
9/1/2022 INITIAL INVESTMENT J1
5,000.00

3,000.00
8,000.00

Account Name Service Income

Account Number 310
Date Particulars JR
9/10/2022 rendered services J1
Credit 9/12/2022 rendered services J1
9/15/2022 rendered services J1
9/20/2022 rendered services J1
9/24/2022 rendered services J1
9/27/2022 rendered services J1
 Account Name Salaries Expense
Account Number 410
Date Particulars JR
9/15/2022 paid salaries J1
9/30/2022 paid salaries J1
Credit

Account Name Utilities Expense

Account Number 420
Date Particulars JR
9/22/2022 received electric bill J1

Credit
Debit Credit
12,000.00
1,500.00
1,500.00
6,000.00
6,000.00
13,500.00 13,500.00

Debit Credit
300,000.00

Debit Credit
7,000
20,000
8000
18,000
17,000
14,000
84,000
Debit Credit
2000
2000
4000

Debit Credit
1,500
 CASH - 10 DELIVERY VEHICLE - 50
9/1/22 300,000 9/3/22 150,000 9/3/22 150,000
09/10/2022 7,000 09/06/2022 25,000
09/12/2022 15,000 9/9/22 3,000
09/15/2022 8,000 09/15/2022 2,000
09/18/2022 5,000 09/25/2022 1,500
9/20/22 15,000 9/26/22 6,000
9/24/22 17,000 9/28/22 6,000
9/27/22 14,000 09/30/2022 2,000 ACCOUNTS PAYABLE - 110
9/30/22 3,000 9/25/22 1,500
384,000 195,500 9/26/22 6,000
9/28/22 6,000
13,500

RS, CAPITAL - 210

ACCOUNTS RECEIVABLE - 20
9/12/22 5,000 9/18/22 5,000
9/20/22 3,000 9/30/22 3,000
8,000 8,000

SERVICE INCOME - 310

OFFICE SUPPLIES - 30
9/9/22 3,000

FURNITURE & FIXTURES - 40

9/6/22 25,000
9/17/22 12,000
37,000
DELIVERY VEHICLE - 50 SALARIES EXPENSE - 410
9/15/22 2,000
9/30/22 2,000
4,000

CCOUNTS PAYABLE - 110 UTILITIES EXPENSE -420

9/17/22 12,000 9/22/22 1,500
9/22/22 1,500
6,000
13,500

RS, CAPITAL - 210

9/1/22 300,000

SERVICE INCOME - 310

9/10/22 7,000
09/12/2022 20,000
9/15/22 8,000
9/20/22 18,000
9/24/22 17,000
9/27/22 14,000
84,000
 Name of Business Entity
Unadjusted Trial Balance
9/30/2022

Debit Credit
10 Cash 188,500.00
20 Accounts Receivable -
30 Office Supplies 3,000.00
40 Furniture & Fixtures 37,000.00
50 Delivery Vehicle 150,000.00
110 Accounts Payable -
210 RS, Capital 300,000.00
310 Service Income 84,000.00
410 Salaries Expense 4,000.00
420 Utilities Expense 1,500.00
384,000.00 384,000.00
 Journal Entry Done Should Be Journal Entry
1 Transportation Expense 3,750 Taxes & Licenses
Cash 3,750 Cash

2 Taxes & Licenses 375.00 Taxes & Licenses

Cash 375.00 Cash

3 Depreciation Expense 6,100.00 Depreciation Expense

Accumulated Depreciation 6,100.00 Accumulated Depreciation

4 Furniture and Fixture 15,000.00 Equipment

Cash 15,000.00 Accounts Payable

6 Salaries and Wages 35,410.00 Salaries and Wages

Cash 35,410.00 Cash

7 None Doubtful Accounts

None Allowance for Doubtful Accounts
ld Be Journal Entry Correcting Journal Entry
3,750 Taxes & Licenses 3,750
3,750 Transportation Expense 3,750

3,750.00 Taxes & Licenses 3,375.00

slide error
3,750.00 Cash 3,375.00

5,600.00 Accumulated Depreciation 500.00

5,600.00 Depreciation Expense 500.00

15,000.00 Equipment 15,000.00

15,000.00 Cash 15,000.00
compound entry
Furniture and Fixture 15,000.00
Accounts payable 15,000.00

Equipment 15,000.00
Furniture and Fixture 15,000.00
simple entries
Cash 15,000.00
Accounts payable 15,000.00

34,510.00 Cash 900.00

transposition error
34,510.00 Salaries and Wages 900.00

2,500.00 Doubtful Accounts 2,500.00

error of ommision
btful Accounts 2,500.00 Allowance for Doubtful Accounts 2,500.00
 Kobi, Drawing Rent Expense
70,000 (4) 70,000 15,000 (2) 15,000

Service Income Salaries Expense

(1) 95,500 95,500 18,500 (2) 18,500

Taxes & Licenses Income Summary

3750 (2) 3,750 (2) 37,250 (1) 95,500
(3) 58,250
 Kobi, Capital
(4) 70,000 130,000
(3) 58,250
70,000 188,250
118,250
188,250 188,250
STEPS IN THE ACCOUNTING CYCLE
1 Documentation
2 recording in the journal
3 Posting to the ledger
4 Unadjusted Trial Balance
5 Adjusting Entries in the journal (Correcting entries if needed may also be done here)
6 Adjusted Trial Balance
7 Financial Statements
8 Closing Entries
9 Post - Closing Trial Balance
10 Reversing Entries