JOURNAL ENTRIES FOR DECEMBER TRANSACTIONS

Date # ACCOUNT TITLE DEBIT CREDIT

Dec. 1 Players Contracts 1,875,000.00
Cash 225,000.00
Notes Payable 1,650,000.00

2 Cash 2,809,500.00
Accounts Receivable 2,809,500.00

3 Accounts Payable 1,657,500.00

Cash 1,657,500.00

4 Advertising Expense 78,600.00

Cash 78,600.00

5 Uniform Supplies 30,750.00

Accounts Payable 30,750.00

9 Notes receivable 320,250.00

Game Attendance Revenue 320,250.00

10 Notes payable 600,000.00

Cash 600,000.00

11 Prepaid Insurance 215,250.00

Cash 215,250.00

12 Training Equipment 319,500.00

Accounts payable 319,500.00

15 Salaries expense 1,136,250.00

Cash 1,136,250.00

17 Cash 3,316,050.00
Game Attendance Revenue 3,316,050.00

19 Travel Expense 558,000.00

Cash 558,000.00

20 Laundry Expense 12,600.00

Cash 12,600.00

23 Accounts Payable 941,850.00

Cash 941,850.00
25 Miscellaneous Expense 26,850.00
Cash 26,850.00

26 Medical expense 18,900.00

Cash 18,900.00

27 Utilities expense 210,450.00

Cash 210,450.00

28 Salaries expense 1,240,650.00

Cash 1,240,650.00

30 Fabella, Withdrawal 250,000.00

Cash 250,000.00
15,617,950.00 15,617,950.00
T-accounts
Cash (1,046,350.00) Notes payable
DEBIT CREDIT DEBIT
Dec. 2 2,809,500.00 Dec. 1 225,000.00 Dec. 10
Dec. 17 3,316,050.00 Dec. 3 1,657,500.00
Dec. 4 78,600.00
Dec. 10 600,000.00
Dec. 11 215,250.00
Dec. 15 1,136,250.00 Accounts Payable
Dec. 19 558,000.00 DEBIT
Dec. 20 12,600.00 Dec. 3
Dec. 23 941,850.00 Dec. 23
Dec. 25 26,850.00
Dec. 26 18,900.00
Dec. 27 210,450.00
Dec. 28 1,240,650.00
Dec. 30 250,000.00
Game Attendance Revenu
6,125,550.00 7,171,900.00 DEBIT
(7171900) (7171900)
(1,046,350.00)

Player's Contracts 1,875,000.00

DEBIT CREDIT Travel Expense
Dec. 1 1,875,000.00 DEBIT
Dec. 19
1,875,000.00

Accounts Receivable (2,809,500.00)

DEBIT CREDIT Laundry Expense
Dec. 2 2,809,500.00 DEBIT
(2809500) (2809500) Dec. 20
(2,809,500.00)

Uniform Supplies 30,750.00

DEBIT CREDIT Miscellaneous Expense
Dec. 5 30,750.00 DEBIT
Dec. 25
30,750.00

Notes Receivable 320,250.00

DEBIT CREDIT Medical Expense
Dec. 9 320,250.00 DEBIT
Dec. 26
320,250.00

Training Equipment 319,500.00

DEBIT CREDIT Utilities Expense
Dec. 12 319,500.00 DEBIT
Dec. 27
319,500.00

Prepaid Insurance 215,250.00

DEBIT CREDIT Salaries Expense
Dec. 11 215,250.00 DEBIT
Dec. 15
215,250.00 Dec. 28

Advertising Expense
DEBIT
Dec. 15

Fabella, Withdrawal
DEBIT
Dec. 5
Notes payable 1,050,000.00 UNADJUSTED TRIAL BALANCE FOR THE MONTH OF DECEMB
DEBIT CREDIT Account title
600,000.00 Dec. 1 1,650,000.00 Cash
(600000) (600000) Accounts Receivable
Uniform Supplies
1,050,000.00 Prepaid Insurance

Accounts Payable (2,249,100.00)

DEBIT CREDIT Training Equipment
1,657,500.00 Dec. 5 30,750.00 Player's Contracts
941,850.00 Dec. 12 319,500.00 Notes Receivable
Notes Payable
2,599,350.00 350,250.00 Accounts Payable
(2599350) (2599350)
(2,249,100.00)
Fabella, Withdrawals
Game Attendance Revenue 3,636,300.00 Game Attendance Revenue
DEBIT CREDIT Salaries Expense
Dec. 9 320,250.00 Advertising Expense
Dec. 17 3,316,050.00 Travel Expense
Laundry Expense
3,636,300.00 Medical Expense
Utilities Expense
Travel Expense 558,000.00 Miscellaneous Expense
DEBIT CREDIT Totals
558,000.00

558,000.00

Laundry Expense 12,600.00

DEBIT CREDIT
12,600.00

12,600.00

Miscellaneous Expense 26,850.00

DEBIT CREDIT
26,850.00

26,850.00

Medical Expense 18,900.00

 DEBIT CREDIT
18,900.00

18,900.00

Utilities Expense 210,450.00

DEBIT CREDIT
210,450.00

210,450.00

Salaries Expense 2,376,900.00

DEBIT CREDIT
1,136,250.00
1,240,650.00
2,376,900.00

Advertising Expense 78,600.00

DEBIT CREDIT
78,600.00

78,600.00

Fabella, Withdrawal 250,000.00

DEBIT CREDIT
250,000.00

250,000.00
OR THE MONTH OF DECEMBER UNADJUSTED TRIAL BALANCE FOR JANUARY TO NOVEMBER
DEBIT CREDIT see acct title of dec. trial balance DEBIT
(1,046,350.00) 1,129,800.00
(2,809,500.00) 3,712,500.00
30,750.00 31,050.00
215,250.00 -
Land 2,025,000.00
Training Facilities 12,750,000.00
319,500.00 2,625,000.00
1,875,000.00 11,250,000.00
320,250.00
1,050,000.00
(2,249,100.00)
Mortgage Payable
Fabella, Capital
250,000.00 1,875,000.00
3,636,300.00
2,376,900.00 4,875,000.00
78,600.00 400,950.00
558,000.00 1,532,400.00
12,600.00 528,000.00
18,900.00 194,550.00
210,450.00 1,734,000.00
26,850.00 130,500.00
2,437,200.00 2,437,200.00 Totals 44,793,750.00
 WORKSHEET
UNADJUSTED TRIAL BALANCE FOR THE ACCOUNTING PERIOD (JANUARY- DECEMBER)
CREDIT Account Title DEBIT CREDIT
Cash 83,450.00
Accounts Receivable 903,000.00
Allowance for Doubtful Accounts -
Uniform Supplies 61,800.00
Prepaid Insurance 215,250.00
Land 2,025,000.00
Training Facilities 12,750,000.00
Training Equipment 2,944,500.00
Accumulated Depreciation
1,800,000.00 Player Contracts 13,125,000.00
4,725,000.00 Notes Receivable 320,250.00
10,500,000.00 Notes Payable 2,850,000.00
17,643,750.00 Accounts Payable 2,475,900.00
Mortgage Payable 10,500,000.00
10,125,000.00 Salaries Payable -
Interest Payable -
Fabella, Capital 17,643,750.00
Fabella, Withdrawals 2,125,000.00
Game Attendance Revenue 13,761,300.00
Salaries Expense 7,251,900.00
Advertising Expense 479,550.00
Travel Expense 2,090,400.00
44,793,750.00 Laundry Expense 540,600.00
Medical Expense 213,450.00
Utilities Expense 1,944,450.00
Miscellaneous Expense 157,350.00
Interest Expense -
Depreciation Expense -
Bad Debt Expense -
Totals 47,230,950.00 47,230,950.00
Net Income
ADJUSTMENTS
Salaries Expense
Salaries Payable
Interest Expense
Interest Payable
Depreciation Expense
Accumulated Depreciation
Bad Debt Expense
Allowance for Doubtful Accounts
Cash
Game Attendance Revenue
RY- DECEMBER) ADJUSTMENTS ADJUSTED TRIAL BALANCE INCOME STATEME
CREDIT DEBIT CREDIT DEBIT CREDIT EXPENSES
2,780,000.00 2,863,450.00
903,000.00
108,360.00 108,360.00
61,800.00
215,250.00
2,025,000.00
12,750,000.00
2,944,500.00
85,650.00 85,650.00
13,125,000.00
320,250.00
2,850,000.00 2,850,000.00
2,475,900.00 2,475,900.00
10,500,000.00 10,500,000.00
- 1,750,000.00 1,750,000.00
- 48,375.00 48,375.00
17,643,750.00 17,643,750.00
2,125,000.00
13,761,300.00 2,780,000.00 16,541,300.00
1,750,000.00 9,001,900.00 9,001,900.00
479,550.00 479,550.00
2,090,400.00 2,090,400.00
540,600.00 540,600.00
213,450.00 213,450.00
1,944,450.00 1,944,450.00
157,350.00 157,350.00
48,375.00 48,375.00 48,375.00
85,650.00 85,650.00 85,650.00
108,360.00 108,360.00 108,360.00
47,230,950.00 4,772,385.00 4,772,385.00 52,003,335.00 52,003,335.00 14,670,085.00
1,871,215.00
16,541,300.00
1,750,000.00
1,750,000.00
48,375.00
48,375.00
85,650.00
85,650.00
108,360.00
108,360.00
2,780,000.00
2,780,000.00
 INCOME STATEMENT BALANCE SHEET
EXPENSES REVENUE DEBIT CREDIT
2,863,450.00
903,000.00
108,360.00
61,800.00
215,250.00
2,025,000.00
12,750,000.00
2,944,500.00
85,650.00
13,125,000.00
320,250.00
2,850,000.00
2,475,900.00
10,500,000.00
1,750,000.00
48,375.00
17,643,750.00
2,125,000.00
16,541,300.00
9,001,900.00
479,550.00
2,090,400.00
540,600.00
213,450.00
1,944,450.00
157,350.00
48,375.00
85,650.00
108,360.00
14,670,085.00 16,541,300.00 37,333,250.00 35,462,035.00
1,871,215.00 1,871,215.00
16,541,300.00 16,541,300.00 37,333,250.00 37,333,250.00
JOURNAL ENTRIES FOR DECEMBER TRANSACTIONS
Date # ACCOUNT TITLE Ref. DEBIT CREDIT
Dec. 1 Players Contracts 180 1,875,000.00
Cash 110 225,000.00
Notes Payable 210 1,650,000.00

2 Cash 110 2,809,500.00

Accounts Receivable 120 2,809,500.00

3 Accounts Payable 220 1,657,500.00

Cash 110 1,657,500.00

4 Advertising Expense 520 78,600.00

Cash 110 78,600.00

5 Uniform Supplies 130 30,750.00

Accounts Payable 220 30,750.00

9 Accounts Receivable 120 320,250.00

Game Attendance Revenue 410 320,250.00

10 Notes payable 210 600,000.00

Cash 110 600,000.00

11 Prepaid Insurance 140 215,250.00

Cash 110 215,250.00

12 Training Equipment 170 319,500.00

Accounts payable 220 319,500.00

15 Salaries expense 510 1,136,250.00

Cash 110 1,136,250.00

17 Cash 110 3,316,050.00

Game Attendance Revenue 410 3,316,050.00

19 Travel Expense 530 558,000.00

Cash 110 558,000.00

20 Laundry Expense 540 12,600.00

Cash 110 12,600.00

23 Accounts Payable 220 941,850.00

Cash 110 941,850.00
25 Miscellaneous Expense 570 26,850.00
Cash 110 26,850.00

26 Medical expense 550 18,900.00

Cash 110 18,900.00

27 Utilities expense 560 210,450.00

Cash 110 210,450.00

28 Salaries expense 510 1,240,650.00

Cash 110 1,240,650.00

30 Fabella, Withdrawals 320 250,000.00

Cash 110 250,000.00
15,617,950.00 15,617,950.00
CREDIT T-accounts
Cash (1,046,350.00) Notes payable
225,000.00 DEBIT CREDIT DEBIT
1,650,000.00 Dec. 2 2,809,500.00 Dec. 1 225,000.00 Dec. 10
Dec. 17 3,316,050.00 Dec. 3 1,657,500.00
Dec. 4 78,600.00
2,809,500.00 Dec. 10 600,000.00
Dec. 11 215,250.00
Dec. 15 1,136,250.00 Accounts Payable
1,657,500.00 Dec. 19 558,000.00 DEBIT
Dec. 20 12,600.00 Dec. 3
Dec. 23 941,850.00 Dec. 23
78,600.00 Dec. 25 26,850.00
Dec. 26 18,900.00
Dec. 27 210,450.00
30,750.00 Dec. 28 1,240,650.00
Dec. 30 250,000.00
Game Attendance Revenue
320,250.00 6,125,550.00 7,171,900.00 DEBIT
(7171900) (DEBIT)
(1,046,350.00)
600,000.00

Player's Contracts 1,875,000.00

215,250.00 DEBIT CREDIT Travel Expense
Dec. 1 1,875,000.00 DEBIT
Dec. 19
319,500.00 1,875,000.00

Accounts Receivable (2,489,250.00)

1,136,250.00 DEBIT CREDIT Laundry Expense
Dec. 9 320,250.00 Dec. 2 2,809,500.00 DEBIT
(2809500) (2809500) Dec. 20
3,316,050.00 (2,489,250.00)

Uniform Supplies 30,750.00

558,000.00 DEBIT CREDIT Miscellaneous Expense
Dec. 5 30,750.00 DEBIT
Dec. 25
12,600.00 30,750.00

941,850.00 Medical Expense

 DEBIT
Dec. 26
26,850.00

Training Equipment 319,500.00

18,900.00 DEBIT CREDIT Utilities Expense
Dec. 12 319,500.00 DEBIT
Dec. 27
210,450.00 319,500.00

Prepaid Insurance 215,250.00

1,240,650.00 DEBIT CREDIT Salaries Expense
Dec. 11 215,250.00 DEBIT
Dec. 15
250,000.00 215,250.00 Dec. 28
15,617,950.00

Advertising Expense
DEBIT
Dec. 15

Fabella, Withdrawal
DEBIT
Dec. 5
 UNADJUSTED TRIAL BALANCE FOR THE MONTH OF DECEMB
Notes payable 1,050,000.00 Account title
DEBIT CREDIT Cash
600,000.00 Dec. 1 1,650,000.00 Accounts Receivable
(600000) (600000) Uniform Supplies
Prepaid Insurance
1,050,000.00

Accounts Payable (2,249,100.00) Training Equipment

DEBIT CREDIT Player's Contracts
1,657,500.00 Dec. 5 30,750.00 Notes Payable
941,850.00 Dec. 12 319,500.00 Accounts Payable

2,599,350.00 350,250.00
(2599350) (2599350) Fabella, Withdrawals
(2,249,100.00) Game Attendance Revenue
Salaries Expense
Game Attendance Revenue 3,636,300.00 Advertising Expense
DEBIT CREDIT Travel Expense
Dec. 9 320,250.00 Laundry Expense
Dec. 17 3,316,050.00 Medical Expense
Utilities Expense
3,636,300.00 Miscellaneous Expense
Totals
Travel Expense 558,000.00
DEBIT CREDIT
558,000.00

558,000.00

Laundry Expense 12,600.00

DEBIT CREDIT
12,600.00

12,600.00

Miscellaneous Expense 26,850.00

DEBIT CREDIT
26,850.00

26,850.00

Medical Expense 18,900.00

 DEBIT CREDIT
18,900.00

18,900.00

Utilities Expense 210,450.00

DEBIT CREDIT
210,450.00

210,450.00

Salaries Expense 2,376,900.00

DEBIT CREDIT
1,136,250.00
1,240,650.00
2,376,900.00

Advertising Expense 78,600.00

DEBIT CREDIT
78,600.00

78,600.00

Fabella, Withdrawal 250,000.00

DEBIT CREDIT
250,000.00

250,000.00
OR THE MONTH OF DECEMBER UNADJUSTED TRIAL BALANCE FOR JANUARY TO NOVEMBER
DEBIT CREDIT see acct title of dec. trial balance DEBIT
(1,046,350.00) 1,129,800.00
(2,489,250.00) 3,712,500.00
30,750.00 31,050.00
215,250.00 -
Land 2,025,000.00
Training Facilities 12,750,000.00
319,500.00 2,625,000.00
1,875,000.00 11,250,000.00
1,050,000.00
(2,249,100.00)
Mortgage Payable
Fabella, Capital
250,000.00 1,875,000.00
3,636,300.00
2,376,900.00 4,875,000.00
78,600.00 400,950.00
558,000.00 1,532,400.00
12,600.00 528,000.00
18,900.00 194,550.00
210,450.00 1,734,000.00
26,850.00 130,500.00
2,437,200.00 2,437,200.00 Totals 44,793,750.00
 WORKSHEET
UNADJUSTED TRIAL BALANCE FOR THE ACCOUNTING PERIOD
CREDIT Account Title DEBIT CREDIT
Cash 83,450.00
Accounts Receivable 1,223,250.00
Allowance for Doubtful Accounts -
Uniform Supplies 61,800.00
Prepaid Insurance 215,250.00
Land 2,025,000.00
Training Facilities 12,750,000.00
Training Equipment 2,944,500.00
1,800,000.00 Accumulated Depreciation
4,725,000.00 Player Contracts 13,125,000.00
10,500,000.00 Notes Payable 2,850,000.00
17,643,750.00 Accounts Payable 2,475,900.00
Mortgage Payable 10,500,000.00
10,125,000.00 Salaries Payable -
Interest Payable -
Fabella, Capital 17,643,750.00
Fabella, Withdrawals 2,125,000.00
Game Attendance Revenue 13,761,300.00
Salaries Expense 7,251,900.00
Advertising Expense 479,550.00
Travel Expense 2,090,400.00
44,793,750.00 Laundry Expense 540,600.00
Medical Expense 213,450.00
Utilities Expense 1,944,450.00
Miscellaneous Expense 157,350.00
Interest Expense -
Depreciation Expense -
Bad Debt Expense -
Totals 47,230,950.00 47,230,950.00
Net Income
ADJUSTMENTS
Salaries Expense
Salaries Payable
Interest Expense
Interest Payable
Depreciation Expense
Accumulated Depreciation
Bad Debt Expense
Allowance for Doubtful Accounts
Cash
Game Attendance Revenue
 ADJUSTMENTS ADJUSTED TRIAL BALANCE INCOME STATEME
CREDIT DEBIT CREDIT DEBIT CREDIT EXPENSES
2,780,000.00 2,863,450.00
1,223,250.00
146,790.00 146,790.00
61,800.00
215,250.00
2,025,000.00
12,750,000.00
2,944,500.00
85,650.00 85,650.00
13,125,000.00
2,850,000.00 2,850,000.00
2,475,900.00 2,475,900.00
10,500,000.00 10,500,000.00
- 1,750,000.00 1,750,000.00
- 48,375.00 48,375.00
17,643,750.00 17,643,750.00
2,125,000.00
13,761,300.00 2,780,000.00 16,541,300.00
1,750,000.00 9,001,900.00 9,001,900.00
479,550.00 479,550.00
2,090,400.00 2,090,400.00
540,600.00 540,600.00
213,450.00 213,450.00
1,944,450.00 1,944,450.00
157,350.00 157,350.00
48,375.00 48,375.00 48,375.00
85,650.00 85,650.00 85,650.00
146,790.00 146,790.00 146,790.00
47,230,950.00 4,810,815.00 4,810,815.00 52,041,765.00 52,041,765.00 14,708,515.00
1,832,785.00
16,541,300.00
1,750,000.00
1,750,000.00
48,375.00
48,375.00
85,650.00
85,650.00
146,790.00
146,790.00
2,780,000.00
2,780,000.00
 INCOME STATEMENT BALANCE SHEET
EXPENSES REVENUE DEBIT CREDIT
2,863,450.00
1,223,250.00
146,790.00
61,800.00
215,250.00
2,025,000.00
12,750,000.00
2,944,500.00
85,650.00
13,125,000.00
2,850,000.00
2,475,900.00
10,500,000.00
1,750,000.00
48,375.00
17,643,750.00
2,125,000.00
16,541,300.00
9,001,900.00
479,550.00
2,090,400.00
540,600.00
213,450.00
1,944,450.00
157,350.00
48,375.00
85,650.00
146,790.00
14,708,515.00 16,541,300.00 37,333,250.00 35,500,465.00
1,832,785.00 1,832,785.00
16,541,300.00 16,541,300.00 37,333,250.00 37,333,250.00