P3.

5
OPENING BALANCES IN THE LEDGER ACCOUNTS (NOVEMBER 1)
Account Debit (£) Credit (£)
Cash 2,400 9,720
Accounts Receivable 4,250 5,500
Supplies 1,800
Equipment 12,000
Accumulated Depreciation - Equipment 2,000
Accounts Payable 2,600
Unearned Service Revenue 1,200
Salaries and Wages Payable 700
Share Capital - Ordinary 11,000
Retained Earnings 2,950

JOURNALIZING THE NOVEMBER TRANSACTION

DATE ACCOUNTS DEBIT CREDIT
8 SALARIES PAYABLE 1,700
SALARIES EXPENSE 1,000
CASH 700
10 CASH 3,620
ACCOUNTS REVEIVED 3,620
12 CASH 3,100
SERVICE REVENUES 3,100
15 EQUIPMENT 2,000
ACCOUNTS PAYABLE 2,000
17 SUPPLIES 700
ACCOUNTS PAYABLE 700
20 ACCOUNTS PAYABLE 2,700
CASH 2,700
22 RENT EXPENSE 400
CASH 400
25 SALARIES EXPENSE 1,700
CASH 1,700
27 ACCOUNTS RECEIVED 2,200
SERVICE REVENUES 2,200
29 CASH 600
UNEARNED SERVICE REVENUE 600

Ledger Accounts

CASH CODE: 101

DATE EXPLANTION PR Debit Credit
B1Nov-25 Opening balance 2,400
B1Nov-25 Cash GJ1 700
B1Nov-25 Cash GJ1 3,620
B1Nov-25 Cash GJ1 3,100
B1Nov-25 Cash GJ1 2,700
B1Nov-25 Cash GJ1 400
B1Nov-25 Cash GJ1 600

RENT EXPENSES CODE: 729

DATE EXPLANTION PR Debit Credit
B1Nov-25 Opening balance
B1Nov-25 Rent expense 400

SUPPLIES
DATE EXPLANTION PR Debit Credit
B1Nov-25 Opening balance 1,800
B1Nov-25 Supplies GJ1 700

ACCOUNT PAYABLE
DATE EXPLANTION PR Debit Credit
B1Nov-25 Opening balance 2,600
B1Nov-25 Accounts payable 2,000
B1Nov-25 Accounts payable 700
20-Nov Accounts payable 2,700

ACCOUNTS RECEIVED
DATE EXPLANTION PR Debit Credit
B1Nov-25 Opening balance 4,250
B1Nov-25 Accounts received GJ1 3,620
11/27/2025 Accounts received 2,200

SEVERVICE REVENUES
DATE EXPLANTION PR Debit Credit
B1Nov-25 Opening balance 0
B1Nov-25 Service revenues 3,100
B1Nov-25 Service revenues 2,200

UNEARNED REVENUES
DATE EXPLANTION PR Debit Credit
B1Nov-25 Opening balance 1,200
B1Nov-25 Unearned revenues 600

SALARIES EXPENSE
DATE EXPLANTION PR Debit Credit
B1Nov-25 Opening balance
B1Nov-25 Salaries expense 1,000
25-Nov Salaries expense 1,700
 SALARIES PAYABLE
DATE EXPLANTION PR Debit Credit
B1Nov-25 Opening balance
B1Nov-25 Salaries payable 1,700

EQUIPMENTS
DATE EXPLANTION PR Debit Credit
B1Nov-25 Opening balance
B1Nov-25 Equipments 2,000

Journalize and Post Adjusting Entries

ACCOUNTS DEBIT CREDIT
1
DR SUPPLIES EXPENSE 1,100
CR SUPPLIE 1,100
2
DR SALARIES EXPENSE 350
CR SALARIES PAYABLE 350
3
DR DEPRECIATION EXPENSE 200
CR ACCUMULATED DEPRECIATION 200
4
DR UNEARNED REVENUES 1,220
CR SERVICE REVENUES 1,220

ASSETS ---> LIABILITIES --> EQUITY --> RETAINED EARNINGS --> INCOME SUMMARY ---> REV --> EX
Opening balance November Transaction during period
Account titles
Debit Credit Debit Credit
Cash 2,400 7,320 5,500
Accounts Receivable 4,250 2,200 3,620
Supplies 1,800 700
Equipment 12,000 2,000
Accumulated Depreciation—Equipment 2,000
Accounts Payable 2,600 2,700 2,700
Unearned Service Revenue 1,200 600
Salaries and Wages Payable 700 1,700
Share Capital—Ordinary 11,000
Retained Earnings 2,950

Income summary
SERVICE REVENUES 5,300

SALARIES AND WAGES

EXPENSES 1,700 1,000
ADVERTISING EXPENSE
RENT EXPENSE 400
INTERSET EXPENSE
SUPPLIES EXPENSES
UTILITIES EXPENSES
INSURANCE EXPENSES
DEPRECIATION EXPENSES
Subtotal 20,450 20,450 18,720 18,720
Net income
Final total

INCOME STATEMENT
REVENUES
SERVICE REVENUES 6,520
EXPENSES
SALARIES AND WAGES
EXPENSES (1,050)
ADVERTISING EXPENSE -
RENT EXPENSE (400)
INTERSET EXPENSE -
SUPPLIES EXPENSES (1,100)
UTILITIES EXPENSES -
INSURANCE EXPENSES -
DEPRECIATION EXPENSES (200)
TOTAL EXPENSE
NET INCOME/NET LOSS 3,770

RETAINED EARNINGS STATEMENT

RETAINED EARNINGS, OPENING BALANCE 0

PLUS:
NET INCOME 3770
SUBTRACT:
DIVIDENDS 0
RETAINED EARNINGS, ENDING BALANCE 3770
 STATEMENT OF FINANCIAL POSITION

ASSETS
Cash 4220
Accounts Receivable 2830
Supplies 1400
Equipment 14000
TOTAL ASSETS 22450
EQUITY
Share Capital—Ordinary 11000
Retained Earnings 2950
TOTAL EQUITY 13950
LIABILITIES
Accounts Payable 2600
Unearned Service Revenue 580
Salaries and Wages Payable -650
TOTAL LIABILITIES 2530
TOTAL EQUITY AND
LIABILITIES 16480

POST-CLOSING BALANCE
DEBIT CREDIT
Cash 4220
Accounts Receivable 2830
Supplies 1400
Equipment 14000
Accumulated Depreciation—Equipment 2200
Accounts Payable 2600
Unearned Service Revenue 580
Salaries and Wages Payable -650
Share Capital—Ordinary 11000
Retained Earnings 6720
TOTAL 22450 22450
 18,720
18720

Balance
2,400
1,700
5,320
8,420
5,720
 5,320
5,920

Balance
-
400

Balance
1,800
2,500

Balance
2,600
4,600
5,300
2,600

Balance
4,250
630
2,830

Balance
-
3,100
5,300

Balance
1,200
1,800

Balance
-
1,000
(700)
 Balance
700
3,350

Balance
12,000
14,000

WORKSHEET
-> REV --> EX
Unadjusted TB (2) Adjustments (3) Adjusted TB (4) Income statement (5)
Debit Credit Debit Credit Debit Credit Debit Credit
4,220 4,220
2,830 2,830
2,500 1,100 1,400
14,000 14,000
2,000 200 2,200
2,600 - 2,600
1,800 1,220 580
(1,000) 350 (650)
11,000 - 11,000
2,950 - 2,950
-
-
-
 5,300 1,220 6,520 6,520
- -

700 350 1,050 1,050

- - -
400 400 400
- - -
- 1,100 1,100 1,100
- - -
- - -
- 200 200 200
24,650 24,650 2,870 2,870 25,200 25,200 2,750 6,520
3,770
6,520 6,520
 SFP AND RETAINED
EARNINGS STMT (6) Closing entries (7) Post-closing TB (8)
Debit Credit Debit Credit Debit Credit
4,220 4,220
2,830 2,830
1,400 1,400
14,000 14,000 1/ TO CLOSE REVENUES A/C:
2,200 2,200 DR SERVICE REVENUES
- 2,600 2,600 CR INCOME SUMMARY
580 580 2/ TO CLOSE EXPENSES A/C:
(650) (650) DR INCOME SUMMARY
- 11,000 11,000 CR SALARIES AND WAGE
- 2,950 3,770 6,720 CR RENT EXPENSE
- CR SUPPLIES EXPENSES
- 2,750 6,520 CR UTILITIES EXPENSES
- 3,770 CR INSURANCE EXPENSE
 6,520 - CR DEPRECIATION EXPEN
- 3/ TO CLOSE INCOME SUMMARY TO

1,050 - DR INCOME SUMMARY

- CR RETAINED EARNINGS
400 - 4/ TO CLOSE DIVIDENDS TO RETAIN
- NO DIVIDEND IN THIS CASE
1,100 - Dr Retained earnings
- Cr Dividends
-
200 -
22,450 18,680 13,040 13,040 22,450 22,450
3,770
22,450 22,450
OSE REVENUES A/C:
CE REVENUES 6,520
COME SUMMARY 6,520
OSE EXPENSES A/C:
ME SUMMARY 2,750
SALARIES AND WAGES EXPENSES 1,050
RENT EXPENSE 400
SUPPLIES EXPENSES 1,100
UTILITIES EXPENSES
INSURANCE EXPENSES
 DEPRECIATION EXPENSES 200
OSE INCOME SUMMARY TO RETAINED EARNINGS:

ME SUMMARY 3,770
ETAINED EARNINGS 3,770
OSE DIVIDENDS TO RETAINED EARNINGS:
END IN THIS CASE
-
Adjustment entries: unchanged!

Journal Entries (General Journal)

Date (July) ACCOUNT DEBIT CREDIT
1-Jul Cash 62,550
Share Capital 62,550
1-Jul Truck 8,000
Cash 2,000
Accounts Payable 6,000
3-Jul Supplies 1450
Accounts Payable 1450
5-Jul Prepaid Insurance 1,800
Cash 1,800
12-Jul Accounts Receivable 54,250
Service Revenue 54,250
18-Jul Accounts Payable 1,500
Cash 1,500
20-Jul Salaries Expense 2,550
Cash 2,550
21-Jul Cash 1,600
Accounts Receivable 1,600
25-Jul Accounts Receivable 2,500
Service Revenue 2,500
31-Jul Maintenance Expense 290
Cash 290
31-Jul Dividends 1150
Cash 1150
Ledger Accounts

CASH
Date Description Debit Credit
July 1 Investment 62,550
July 1 Truck Purchase 2,000
July 5 Insurance 1,800
July 18 Payment on Truck & Supplies 1,500
July 20 Salaries 2,550
July 21 Customer Payment 1,600
July 31 Maintenance 290
July 31 Dividends 1150

ACCOUNTS RECIVABLE
Date Description Debit Credit
July 12 Services Billed 54,250
July 21 Cash Received 1,600
July 25 Services Billed 2,500

SUPPLIES
Date Description Debit Credit
July 3 Purchase on Account 1450

ACCOUNTS PAYABLE
Date Description Debit Credit
July 1 Truck Purchase 6,000
July 3 Supplies Purchase 1450
July 18 Payment 1,500

SERVICE REVENUE
Date Description Debit Credit
July 12 Revenue Earned 54,250
July 25 Revenue Earned 2,500

SALARIES EXPENSE
Date Description Debit Credit
July 20 Salaries Paid 2,550

MAINTENANCE EXPENSE
Date Description Debit Credit
July 31 Truck Maintenance 290

DIVIDENDS
Date Description Debit Credit
July 31 Cash Dividend 1150

ASSETS ---> LIABILITIES --> EQUITY --> RETAINED EARNINGS --> INCOME SUMMARY ---> REV --> EX
Unadjusted TB (2)
Account titles
Debit Credit
CASH 54,860
SUPPLIES 1450
TRUCK 8,000
PREPAID INSURANCE 1800
ACCOUNT RECEIVED 55,150
ACCOUNTS PAYABLES 5,950
UNEARNED SERVICES REVENUES
DIVIDENDS 1150
SHARE CAPITAL 62,550
RETAINED EARNINGS
INCOME SUMMARY

SERVICE REVENUES 56,750

SALARIES AND WAGES EXPENSES 2,550
MAINTENANCE EXPENSE 290
SUPPLIES EXPENSES
SUB TOTAL 125,250 125,250
NET INCOME
FINAL TOTAL

INCOME STATEMENT
REVENUES
SERVICE REVENUES 56,750
EXPENSES
SALARIES AND WAGES EXPENSES (2,550)
ADVERTISING EXPENSE (290)
TOTAL EXPENSE
NET INCOME/NET LOSS 53,910

RETAINED EARNINGS STATEMENT

RETAINED EARNINGS, OPENING BALANCE 0

PLUS:
NET INCOME 53,910
SUBTRACT:
DIVIDENDS 1150
RETAINED EARNINGS, ENDING BALANCE 52760

STATEMENT OF FINANCIAL POSITION

ASSETS
Cash 54,860
Accounts Receivable 55,150
Supplies 1450
Truck 8,000
Prepaid Insurance 1,800
TOTAL ASSETS 121,260
EQUITY
Share Capital—Ordinary 62,550
Retained Earnings 52,760
TOTAL EQUITY 115,310
LIABILITIES
Accounts Payable 5,950
Unearned Service Revenue 0
Salaries and Wages Payable 0
TOTAL LIABILITIES 5950
TOTAL EQUITY AND LIABILITIES 121260

POST-CLOSING BALANCE
DEBIT CREDIT
Cash 54860
Accounts Receivable 1450
Supplies 8000
Truck 1800
Prepaid Insurance 55150
Accounts Payable 5950
Unearned Service Revenue 0
Share Capital—Ordinary 62,550
trong bảng post ko có dt, chỉ có các tk chư
Retained Earnings 52760
TOTAL 121260 121260
 TRIAL BALANCE
Account Title Debit (NT$) Credit (NT$)
Cash 54,860
Accounts Receivable 55,150
Supplies 1450
Truck 8,000
Prepaid Insurance 1800
Accounts Payable 5,950
Unearned Service Revenue 0 0
Share Capital—Ordinary 0 62,550
Dividends 1150 0
Service Revenue 0 56,750
Salaries and Wages Expense 2,550 0
Maintenance Expense 290
TOTAL 125,250 125250
Balance
62,550
60,550
58,750
57,250
54,700
56,300
56,010
54,860

Balance
54,250
52,650
55,150

Balance
1450

Balance
6,000
7,450
5,950

Balance
54,250
56,750

Balance
2,550

Balance
290

Balance
 1150

WORKSHEET
--> REV --> EX
Adjustments (3) Adjusted TB (4) Income statement (5)
Debit Credit Debit Credit Debit
54,860
1,450
8,000
1,800
55,150
5,950

1150
62,550

56750
2550 2550
290 290

125,250 125,250 2840

53910
56750
rong bảng post ko có dt, chỉ có các tk chưa đóng, bao gồm ts, npt vốn chủ sở hữu và re. phải làm cho tổng ts = tổng nv
 SFP AND RETAINED
Income statement (5) EARNINGS STMT (6) Closing entries (7) Post-closing TB (8)
Credit Debit Credit Debit Credit Debit Credit
54860 54,860
1450 1,450
8000 8,000
1800 1,800
55150 55,150
5950 5,950
0
1150 1150
62550 62,550
1150 53910 52,760
2840 56750
53910
56750 56750
2550
290

56750 122410 68500 114650 114650 121,260 121260

53910
56750 122410 122410
1/ TO CLOSE REVENUES A/C:
DR SERVICE REVENUES 56750
CR INCOME SUMMARY 56750

2/ TO CLOSE EXPENSES A/C:

DR INCOME SUMMARY 2840
cr SALARIES AND WAGES EXPENSES 2550
cr MAITENANCE EXPENSE 290

3/ TO CLOSE INCOME SUMMARY TO RETAINED EARNINGS:

DR INCOME SUMMARY 53910
CR RETAINED EARNINGS 53910
4/ TO CLOSE DIVIDENDS TO RETAINED EARNINGS:
NO DIVIDEND IN THIS CASE
Dr Retained earnings 1150
Cr Dividends 1150
Adjustment entries: unchanged!
JOURNALIZING MARCH TRANSACTION
Date Debit Account Credit Account Amount
Mar 1 Cash Share capital 65550
Mar 1 Cash Notes Payable 6000
Mar 1 Truck Cash 8550
Mar 2 Rent Expense Cash 1500
Mar 3 Prepaid Insurance Cash 2400
Mar 6 Supplies Accounts Payable 2000
Mar 14 Accounts Receivable Service Revenue 4250
Mar 18 Accounts Payable Cash 500
Mar 20 Salaries Expense Cash 2300
Mar 21 Cash Accounts Receivable 1600
Mar 28 Accounts Receivable Service Revenue 4200
Mar 31 Maintenance Expense Cash 350
Mar 31 Dividends Cash 1450
TOTAL

Ledger Accounts
1. CASH (Tiền mặt) – Code: 101

DATE EXPLANATION PR Debit (€) Credit (€)

1-Mar Shareholders investment GJ1 65,550
1-Mar Loan received GJ1 6,000
1-Mar Purchase of used truck GJ1 8,550
2-Mar Rent payment GJ1 1,500
 3-Mar Insurance payment GJ1 2,400
18-Mar Payment for cleaning supplies GJ1 500
20-Mar Employee salaries GJ1 2,300
Cash collected from
21-Mar GJ1 1,600
customers
31-Mar Gas and oil expense GJ1 350
31-Mar Dividend payment GJ1 1450

2. ACCOUNTS RECEIVABLE – Code: 102

DATE EXPLANATION PR Debit (€) Credit (€)

14-Mar Customer billing GJ1 4,250
Cash collected from
21-Mar GJ1 1,600
customers
28-Mar Customer billing GJ1 4,200

3. TRUCK – Code: 103

DATE EXPLANATION PR Debit (€) Credit (€)

1-Mar Purchase of truck GJ1 8,550

4.SUPPLIES – Code: 104

DATE EXPLANATION PR Debit (€) Credit (€)

6-Mar Purchase on account GJ1 2,000

5. ACCOUNTS PAYABLE – Code: 105

DATE EXPLANATION PR Debit (€) Credit (€)

6-Mar Purchase on account GJ1 2,000
18-Mar Payment for cleaning supplies GJ1 500

6. PREPAID INSURANCE – Code: 106

DATE EXPLANATION PR Debit (€) Credit (€)

3-Mar Payment for 6-month policy GJ1 2,400

7. RENT EXPENSE – Code: 107

 DATE EXPLANATION PR Debit (€) Credit (€)
2-Mar Rent payment GJ1 1,500

8. SALARIES EXPENSE – Code: 108

DATE EXPLANATION PR Debit (€) Credit (€)

20-Mar Employee salaries GJ1 2,300

9. MAINTENANCE & REPAIRS EXPENSE – Code: 109

DATE EXPLANATION PR Debit (€) Credit (€)

31-Mar Gas and oil expense GJ1 350

10. DIVIDENDS – Code: 110

DATE EXPLANATION PR Debit (€) Credit (€)

31-Mar Dividend payment GJ1 1450

11. SHARE CAPITAL – Code: 112

DATE EXPLANATION PR Debit (€) Credit (€)

Mar 1 Shareholders investment GJ1 #REF! 65550

12. SERVICE REVENUE – Code: 113

DATE EXPLANATION PR Debit (€) Credit (€)

Mar 14 Service performend GJ1 4250
Mar 28 Service performend GJ1 0 4200

TRIAL BALANCE
Account Debit (€) Credit (€)
Cash 56,100 0
Accounts Receivable 6,850 0
Truck 8,550 0
Rent Expense 1,500 0
Prepaid Insurance 2400 0
Supplies 2000 0
Accounts Payable 0 1,500
Notes Payable 0 6000
Share Capital 0 65550
Service Revenue 0 8450
Salaries Expense 2,300 0
Maintenance Expense 350 0
Dividends 1450 0
TOTAL 81,500 81500

ASSETS ---> LIABILITIES --> EQUITY --> RETAINED EARNINGS --> INCOME SUMMARY ---> REV --> EX
Unadjusted TB (2) Adjustments (3)
Account titles
Debit Credit Debit
CASH 56,100
ACCOUNTS RECEIVED 6,850
TRUCK 8,550
SUPPLIES 2000 0
PREPAID INSURANCE 2400
ACCOUNTS PAYABLE 1,500
NOTES PAYABLE 6,000
SHARE CAPITAL 65,550
DIVIDENDS 1450
RETAINED EARNINGS
INCOME SUMMARY

SERVICE REVENUES 8,450

SALARIES AND WAGES
EXPENSES 2,300
MAINTENANCE EXPENSE 350
RENT EXPENSES 1,500
SUB TOTAL 81,500 81,500
NET INCOME
FINAL TOTAL

1/ TO CLOSE REVENUES A/C:

DR SERVICE REVENUES 8,450
CR INCOME SUMMARY 8450

2/ TO CLOSE EXPENSES A/C:

DR INCOME SUMMARY 4150

CR SALARIES AND WAGES EXPENSES 2300
CR MAINTENANCE EXPENSE 350
CR RENT EXPENSES 1500
3/ TO CLOSE INCOME SUMMARY TO RETAINED EARNINGS:
DR INCOME SUMMARY
CR RETAINED EARNINGS
4/ TO CLOSE DIVIDENDS TO RETAINED EARNINGS:
NO DIVIDEND IN THIS CASE
Dr Retained earnings
Cr Dividends

INCOME STATEMENT
REVENUES
SERVICE REVENUES 8,450
EXPENSES
SALARIES AND WAGES
EXPENSES -2300
MAINTENANCE EXPENSE -350
RENT EXPENSES -1500

NET INCOME/NET LOSS 4,300

RETAINED EARNINGS STATEMENT

RETAINED EARNINGS, OPENING BALANCE 0

PLUS:
NET INCOME 4,300
SUBTRACT:
DIVIDENDS 1450
RETAINED EARNINGS, ENDING BALANCE 2850

STATEMENT OF FINANCIAL POSITION

ASSETS
CASH 56100
ACCOUNTS RECEIVED 6850
TRUCK 8550
SUPPLIES 2000
PREPAID INSURANCE 2400
TOTAL ASSETS 75,900
EQUITY
SHARE CAPITAL 65550
RETAINED EARNINGS 0
TOTAL EQUITY 65,550
LIABILITIES
ACCOUNTS PAYABLE 1500
NOTES PAYABLE 6000
TOTAL LIABILITIES 7500
TOTAL EQUITY AND
LIABILITIES 83,400

POST-CLOSING BALANCE
DEBIT CREDIT
CASH 56,100
ACCOUNTS RECEIVED 6,850
TRUCK 8,550
SUPPLIES 2,000
PREPAID INSURANCE 2,400
ACCOUNTS PAYABLE 0 1,500
NOTES PAYABLE 6,000
SHARE CAPITAL 65,550
DIVIDENDS 0
RETAINED EARNINGS 2,850
TOTAL 75,900 75900
Balance (€)
65,550
71,550
63,000
61,500
 59,100
58,600
56,300
57,900
57,550
56,100

Balance (€)
4,250
2,650
6,850

Balance (€)
8,550

Balance (€)
2,000

Balance (€)
2,000
1,500

Balance (€)
2,400
Balance (€)
1,500

Balance (€)
2,300

Balance (€)
350

Balance (€)
1450

Balance (€)
65550

Balance (€)
4,250
8,450
 WORKSHEET
X
Adjustments (3) Adjusted TB (4) Income statement (5)
Credit Debit Credit Debit Credit
56,100
6,850
8,550
2,000
2,400
0 1,500
6,000
65,550
1450

8,450 8450

2,300 2300
350 350
1,500 1500
81,500 81,500 4150 8450
4300
8450 8450
4,300
4,300

1450
1450
Mar 1: 15,000 + XXXXX

Mar 1: purchasing Truck 8,000 + XXXX

Mar 14: 3,700 + XXXX

Mar 20: 1,750 + XXX

Mar 28: 4,200 + XXXX

Mar 31: Div 900 + XXX

 SFP AND RETAINED EARNINGS
STMT (6) Closing entries (7) Post-closing TB (8)
Debit Credit Debit Credit Debit Credit
56100 56,100
6850 6,850
8550 8,550
2000 2,000
2400 2,400
0 1500 0 1,500
6000 6,000
65550 65,550
1450 1450 0
1450 4,300 2,850
4150 8450
4,300
8450

2300
350
1500
77350 73050 18350 18350 75,900 75900
4300
77350 77350
Adjustment entries: unchanged!

OPENING BALANCES IN THE LEDGER ACCOUNTS AUGUST

Account Debit (£) Credit (£)
Cash 6,590
Accounts Receivable 2,910
Supplies 1,580
Equipment 10,000
Notes receivable 4,000
Accumulated Depreciation - Equipment 600
Accounts Payable 2,300
Unearned Service Revenue 1,260
Salaries and Wages Payable 1420
Share Capital - Ordinary 16,850
Retained Earnings 2,650
 JOURNALIZING THE AUGUST TRANSACTION
DATE Debit Account Credit Account Amount
1 ADVERTISING EXPENSE CASH 950
3 RENT EXPENSE CASH 930
5 CASH ACCOUNT RECEIVED 1,200
10 SALARIES PAYABLE CASH 1,420
SALARIES EXPENSE CASH 1,700
12 CASH SERVICE REVENUES 3350
15 EQUIPMENT ACCOUNT PAYABLE 2,000
20 ACCOUNTS PAYABLE CASH 2,000
22 SUPPLIES ACCOUNTS PAYABLE 1350
25 SALARIES EXPENSE CASH 2,900
27 ACCOUNTS RECEIVED SERVICE REVENUES 4310
29 CASH UNEARNES SERVICE REV 780

Ledger Accounts
CASH
Date Description Debit Credit
Aug 1 Opening Balance 6,590
Aug 1 Advertising Expense 950
Aug 3 Rent Expense 930
Aug 5 Accounts Receivable 1,200
Aug 10 Salaries Expense 1,700
Aug 10 Salaries Payable 1,420
Aug 12 Service Revenue 3350
Aug 20 Accounts Payable 2,000
Aug 25 Salaries Expense 2,900
Aug 29 Unearned Revenue 780

ACCUMULATED DEPRECIATION
Date Description Debit Credit
Aug 1 Opening Balance 600

RETAINED EARINGS
Date Description Debit Credit
Aug 1 Opening Balance 2,650

SERVICE REVENUES
Date Description Debit Credit
Aug 12 Cash 3350
Aug 27 Accounts Receivable 4310
 TRIAL BALANCE
Account Debit (€) Credit (€)
Cash $2,020
Accounts Receivable $6,020
Supplies $2,930
Equipment $12,000
Notes Receivable 4000
Accumulated Depreciation—
$600
Equipment
Accounts Payable 3,650
Unearned Service Revenue $2,040
Salaries and Wages Payable $0
Share Capital—Ordinary $16,850
Retained Earnings $2,650
Service Revenue $7,660
Advertising Expense $950
Rent Expense $930
Salaries Expense $4,600
Tổng cộng $33,450 $33,450

ASSETS ---> LIABILITIES --> EQUITY --> RETAINED EARNINGS --> INCOME SUMMARY ---> REV --> EX
Opening balance August Unadjusted TB (2)
Account titles
Debit Credit Debit
Cash 6,590 2,020
Accounts Receivable 2,910 6,020
Supplies 1,580 2,930
Equipment 10,000 12,000
Notes receivable 4,000 4000
Accumulated Depreciation - Equipment 600
Accounts Payable 2,300
Unearned Service Revenue 1,260
Salaries and Wages Payable 1,420
Share Capital - Ordinary 16,850
Retained Earnings 2,650
Income summary
Service Revenue
Advertising Expense 950
Rent Expense 930
Salaries Expense 4,600
Subtotal 21,080 22,430 33,450
Net income
Final total

1/ TO CLOSE REVENUES A/C:

DR SERVICE REVENUES 7,660
CR INCOME SUMMARY 7,660
2/ TO CLOSE EXPENSES A/C:
DR INCOME SUMMARY
CR Advertising Expense
CR Rent Expense
CR Salaries Expense
3/ TO CLOSE INCOME SUMMARY TO RETAINED EARNINGS:
DR INCOME SUMMARY 1,180
CR RETAINED EARNINGS
4/ TO CLOSE DIVIDENDS TO RETAINED EARNINGS:
NO DIVIDEND IN THIS CASE
Dr Retained earnings 0
Cr Dividends 0

INCOME STATEMENT
REVENUES
SERVICE REVENUES 7,660
EXPENSES
Advertising Expense -950
Rent Expense -930
Salaries Expense -4600
NET INCOME/NET LOSS 1,180

RETAINED EARNINGS STATEMENT

RETAINED EARNINGS, OPENING BALANCE 0

PLUS:
NET INCOME 1,180
SUBTRACT:
DIVIDENDS 0
RETAINED EARNINGS, ENDING BALANCE 1180

STATEMENT OF FINANCIAL POSITION

ASSETS
Cash 2020
Accounts Receivable 6020
Supplies 2930
Equipment 12000
Notes receivable 4000 0
Accumulated Depreciation - Equipment (600)
TOTAL ASSETS 26,970
EQUITY
SHARE CAPITAL 16,850
RETAINED EARNINGS 2,650
TOTAL EQUITY 19,500
LIABILITIES
ACCOUNTS PAYABLE 3,650
TOTAL LIABILITIES 3650
TOTAL EQUITY AND
LIABILITIES 30,620

POST-CLOSING BALANCE
DEBIT CREDIT
Cash 2,020
Accounts Receivable 6,020
Supplies 2,930
Equipment 12,000
Notes receivable 4,000 0
Accumulated Depreciation -
Equipment 600
Accounts Payable 3,650
Unearned Service Revenue 2,040
Salaries and Wages Payable 0
Share Capital - Ordinary 16,850
Retained Earnings 3830
TOTAL 26,970 26970
 ACCOUNTS RECEIVABLE
Balance Date Description Debit Credit Balance
6,590 Aug 1 Opening Balance 2,910 2,910
5,640 Aug 5 Cash 1,200 1,710
4,710 Aug 27 Service Revenue 4310 6,020
5,910
4,210
2,790
6,140
4,140
1,240
2,020

ACCOUNTS PAYABLE
Balance Date Description Debit Credit Balance
600 Aug 1 Opening Balance 2,300 2,300
Aug 15 Equipment 2,000 4,300
Aug 20 Cash 2,000 2,300
Aug 22 Supplies 1350 3,650

ADVERTISNG EXPENSE
Balance Date Description Debit Credit Balance
2,650 Aug 1 Cash 950 950

Balance
3350
7660
 WORKSHEET
E SUMMARY ---> REV --> EX SFP AND RETAINED
Unadjusted TB (2) Adjustments (3) Adjusted TB (4) Income statement (5) EARNINGS STMT (6)
Credit Debit Credit Debit Credit Debit Credit Debit
2,020 2,020
6,020 6,020
2,930 2,930
12,000 12,000
- 4,000 - 4,000
600 - 600 -
3,650 3,650
2,040 2,040
- - - -
16,850 - 16,850 -
$2,650 - 2,650 -
- -
- -
7,660 7,660 7,660
950 950 -
930 930
4,600 4,600
33,450 33,450 33,450 6,480 7,660 26,970
1,180
 7,660 7,660 26,970

6,480
950
930
4,600

1,180

-
Opening balance of Cash, Supplies, Share capital, RE + XXXX
 NOTES RECEIVABLE SUPPLIES
Date Description Debit Credit Balance Date
Aug 1 Opening Balance 4,000 4000 Aug 1
Aug 22

UNEARNED SERVICE REVENUES SALARIES PAY

Date Description Debit Credit Balance Date
Aug 1 Opening Balance 1,260 1,260 Aug 1
Aug 29 Cash 780 2,040 Aug 10

RENT EXPENSE SALARIES EXP

Date Description Debit Credit Balance Date
Aug 3 Cash 930 930 Aug 10
Aug 25
SFP AND RETAINED
EARNINGS STMT (6) Closing entries (7) Post-closing TB (8)
Credit Debit Credit Debit Credit
2,020
6,020
2,930
12,000
- 4,000 -
600 600
3,650 3,650
2,040 2,040
- -
16,850 16,850
2,650 - 1,180 3,830
6,480 7,660
1,180
7,660 -
950
930 -
4,600 -
25,790 15,320 15,320 26,970 26,970
1,180
26,970 15,320 15,320
 SUPPLIES EQUIPMENT
Description Debit Credit Balance Date Description Debit
Opening Balance 1,580 1,580 Aug 1 Opening Balance 10,000
Accounts Payable 1350 2,930 Aug 15 Accounts Payable 2,000

SALARIES PAYABLE SHARE CAPITAL

Description Debit Credit Balance Date Description Debit
Opening Balance 1420 1420 Aug 1 Opening Balance
Cash 1420 0

SALARIES EXPENSE
Description Debit Credit Balance
Cash 1,700 1,700
Cash 2,900 4,600
NT
Credit Balance
10000
12000

CAPITAL
Credit Balance
16,850 16,850
Adjustment entries: unchanged!
OPENING BALANCES IN THE LEDGER ACCOUNTS AT JUNE 30
ACCOUNT DEBIT CREDIT
CASH 55780
SUPPLIES 690
ACCOUNTS RECEIVABLE 51750
ACCOUNTS PAYABLE 400
UNEARNED REVENUES 1120
SHARE CAPITAL 54550
RETAINED EARNINGS 52150

JOURNALIZING THE JUNE TRANSACTION

DATE DEBIT ACCOUNT CREDIT ACCOUNTS AMOUNT
1 EQUIPMET 24000
CASH 4000
NOTES PAYABLE 20000
2 CASH SHARE CAPITAL 50550
3 PREPAID INSURANCE CASH 3600
3 RENT EXPENSE CASH 8000
6 SUPPLIES CASH 4350
9 NO ENTRIES
10 CASH ACCOUNTS RECEIVABLE 1200
13 UNEARNED REVENUES SERVICE REVENUES 1120
14 UTILITY EXPENSE CASH 950
16 CASH UNEARNED REVENUES 12000
18 SALARIES EXPENSE CASH 11000
20 ACCOUNT RECEIVABLE SERVICE REVENUES 28550
20 ADVERTISING EXPENSE ACCOUNTS PAYABLE 2759
23 UNEARNED REVENUES SERVICE REVENUES 10000
27 CASH ACCOUNTS REVEIVABLE 15000

Ledger Accounts for July Transactions

Cash (Asset Account)

Date Description Debit (¥) Credit (¥) Balance (¥)

30-Jun Opening Balance 55,780 55,780
2-Jul Shareholder Investment 50,550 106,330
10-Jul Customer Payment 1,200 107,530
16-Jul Customer Advance 12,000 119,530
27-Jul Customer Payment 15,000 134,530
1-Jul Equipment Purchase 4,000 130,530
3-Jul Insurance Payment 3,600 126,930
3-Jul Rent Payment 8,000 118,930
6-Jul Supplies Purchase 4,350 114,580
14-Jul Utility Payment 950 113,630
18-Jul Salaries Paid 11,000 102,630

Accounts Receivable (Asset Account)

Date Description Debit (¥) Credit (¥) Balance (¥)

 30-Jun Opening Balance 51,750 51,750
20-Jul Services on Account 28,550 80,300
10-Jul Payment Received 1,200 79,100
27-Jul Payment Received 15,000 64,100

Supplies (Asset Account)

Date Description Debit (¥) Credit (¥) Balance (¥)

30-Jun Opening Balance 690 690
6-Jul Supplies Purchased 4,350 5,040

Prepaid Insurance (Asset Account)

Date Description Debit (¥) Credit (¥) Balance (¥)

3-Jul Insurance Paid 3,600 3,600

Equipment (Asset Account)

Date Description Debit (¥) Credit (¥) Balance (¥)

1-Jul Equipment Purchase 24,000 24,000

Notes Payable (Liability Account)

Date Description Debit (¥) Credit (¥) Balance (¥)

1-Jul Loan Taken 20,000 20,000

Accounts Payable (Liability Account)

Date Description Debit (¥) Credit (¥) Balance (¥)

30-Jun Opening Balance 400 400
20-Jul Advertising Expense 2,759 3,159

Unearned Service Revenue (Liability Account)

Date Description Debit (¥) Credit (¥) Balance (¥)

30-Jun Opening Balance 1,120 1,120
16-Jul Advance Payment 12,000 13,120
13-Jul Revenue Earned 1,120 12,000
23-Jul Revenue Earned 10,000 2,000
 Service Revenue (Revenue Account)
Date Description Debit (¥) Credit (¥) Balance (¥)
13-Jul Revenue Earned 1,120 1,120
20-Jul Services on Account 28,550 29,670
23-Jul Revenue Earned 10,000 39,670

Salaries Expense (Expense Account)

Date Description Debit (¥) Credit (¥) Balance (¥)

18-Jul Salaries Paid 11,000 11,000

Rent Expense (Expense Account)

Date Description Debit (¥) Credit (¥) Balance (¥)

3-Jul Rent Paid 8,000 8,000

Advertising Expense (Expense Account)

Date Description Debit (¥) Credit (¥) Balance (¥)

Advertising Expense
20-Jul 2,759 2,759
Incurred

Utility Expense (Expense Account)

Date Description Debit (¥) Credit (¥) Balance (¥)

14-Jul Utility Bill Paid 950 950

Trial Balance After July Transactions

Account Debit Credit

Cash 102,630
Accounts Receivable 64,100
Supplies 5,040
Prepaid Insurance 3,600
Equipment 24,000
Accounts Payable 3,159
Unearned Service
2,000
Revenue
Notes Payable 20,000
Share Capital - Ordinary 105100
Retained Earnings 52150
Service Revenue 39,670
Salaries Expense 11,000
Advertising Expense 2,759
Rent Expense 8,000
Utility Expense 950
Total 222,079 222079

ASSETS ---> LIABILITIES --> EQUITY --> RETAINED EARNINGS --> INCOME SUMMARY ---> REV --> EX
Opening balance November Unadjusted TB (2)
Account titles
Debit Credit Debit Credit
Cash 55,780 102,630
Accounts Receivable 690 64,100
Supplies 51,750 5,040
Prepaid Insurance 3,600
Equipment 24000
Accounts Payable 400 3,159
Unearned Service Revenue 1,120 2,000
Notes Payable 20,000
Share Capital - Ordinary 54,550 105,100
Retained Earnings 52,150 52,150

Income summary

Service Revenue 39,670

Salaries Expense 11000

Advertising Expense 2,759

Rent Expense 8,000
Utility Expense 950
Subtotal 108,220 108,220 222,079 222,079
Net income
Final total

1/ TO CLOSE REVENUES A/C:

DR SERVICE REVENUES 39,670
 CR INCOME SUMMARY 39,670
2/ TO CLOSE EXPENSES A/C:
DR INCOME SUMMARY 22,709
CR Salaries Expense
CR Advertising Expense
CR Rent Expense
CR Utility Expense
3/ TO CLOSE INCOME SUMMARY TO RETAINED EARNINGS:
DR INCOME SUMMARY 16,961
CR RETAINED EARNINGS
4/ TO CLOSE DIVIDENDS TO RETAINED EARNINGS:
NO DIVIDEND IN THIS CASE
Dr Retained earnings
Cr Dividends

INCOME STATEMENT
REVENUES

SERVICE REVENUES 39,670

EXPENSES
Salaries Expense -11000
Advertising Expense -2759
Rent Expense -8000
Utility Expense -950
TOTAL 16,961

RETAINED EARNINGS STATEMENT

RETAINED EARNINGS, OPENING BALANCE 0

PLUS:
NET INCOME 16,961
SUBTRACT:
DIVIDENDS 0
RETAINED EARNINGS, ENDING BALANCE 16961

STATEMENT OF FINANCIAL POSITION

ASSETS
Cash 102630
Accounts Receivable 64100
Supplies 5040
Prepaid Insurance 3600
Equipment 24000 0
Accounts Payable 3159
Unearned Service
Revenue 2000
Notes Payable 20000

Share Capital - Ordinary 105100

Retained Earnings 52150
TOTAL EQUITY AND
LIABILITIES 381,779

POST-CLOSING BALANCE
DEBIT CREDIT
Cash 102,630
Accounts Receivable 64,100
Supplies 5,040
Prepaid Insurance 3,600
Equipment 24,000 0
Accounts Payable 3,159
Unearned Service
Revenue 2,000
Notes Payable 20,000

Share Capital - Ordinary 105,100

Retained Earnings 69,111
TOTAL 199,370 199370
 WORKSHEET
ARY ---> REV --> EX SFP AND RETAINED
Adjustments (3) Adjusted TB (4) Income statement (5) EARNINGS STMT (6)
Debit Credit Debit Credit Debit Credit Debit Credit
102,630 102,630
64,100 64,100
5,040 5,040
3,600 3,600
- 24,000 - 24,000 -
- 3,159 - 3,159
2,000 2,000
20,000 20,000
- 105,100 - 105,100
- 52,150 - 52,150
- -
- -
- -

39,670 39,670

11,000 11,000 -

- 2,759 2,759
8,000 8,000
950 950
- - 222,079 222,079 22,709 39,670 199,370 182,409
16,961 16,961
39,670 39,670 199,370 199,370
 11,000
2,759
8,000
950

16,961

-
Closing entries (7) Post-closing TB (8)
Debit Credit Debit Credit
102,630
64,100
5,040
3,600
24,000 -
3,159
2,000
20,000
105,100
16,961 69,111

22,709 39,670
16,961

39,670 -

11,000

2,759 -
8,000 -
950 -
79,340 79,340 199,370 199,370