Page # 190 Journal

Date Sep 01 Details Cash A/C To Capital A/C (Anthony Ferrara deposit cash) Rent A/C To Cash A/C (Paid Rent) Equipment A/C To Cash A/C To Notes payable A/C Interest expense A/C To interest Payable A/C (Purchased Equipment and issued one year notes payable plus interest at the annual rate 9%) Office supplies A/C To A/C Payable ( Purchase Office Supplies) Cash A/C To McBryan A/C (Received cash from McBryan) Salaries A/C To Cash A/C (Paid Salaries) A/C receivable To Rental Fees Earned A/C (Received Rental fees) Earth Movers A/C To A/C payable (purchased parts repair a rental tractor) Rental Fees Earned A/C To A/C receivable (Collect A/C Receivable) Rent expense A/C To A/C payable (Paid rent) Salaries A/C To Cash A/C (Paid Salaries) A/C payable L.F Debit 100,000 Credit 100,000 90000 90000 180,000 70000 110000 9900 9900

Sep 01

Sep 01

Sep 04

1630 1630 10,000 10,000 3600 3600 800 800 340 340

Sep 08

Sep 12

Sep 15

Sep 17

Sep 23

210 210 2200 2200 3600 3600 340

Sep 25

Sep 26

Sep 27

Sep 28

Sep 29 Sep 29

Sep 30

Sep 30

To Earth Movers A/C (Paid A/C payable to Earth Movers) Drawing A/C To Cash A/C (Withdrew money from personal use) No Entry Insurance policy A/C To Cash A/C (Purchase Insurance policy For 12 months) Utilities expense A/C To A/C payable (Received a bill from Universal Utilities) To Cash A/C To McBryan A/C (Equipment rental fees earned during second half of month) Total

340 2000 2000

32400 32400

270 270

8450 8450

445740

445740

Sep 01= 110,000 * 9/100 = 9900. Sep15 = 6100 5300 = 800. Sep 25 = 100 * 22 =2200 Sep 29 = 2700 * 12 = 32400.

LEDGERS Cash A/C

100,000 9000

Capital A/C
100,000 100,000

Rent A/C
9000 2200 11200

10,000 70,000 210 3600 8450 3600 2000 32400 800 2740

Equipment A/C
180,000 180,000

Interest A/C
9900

Notes payable A/C

110000 110000

Interest Payable
9900 9900

9900 A/C Payable

340 1630 340 270 2200 4100

Office Supplies
1630 1630

McBryan A/C
10000 8450 18450

Salaries A/C
3600 3600 7200

A/C Receivable
800 590 210

Earth Movers A/C

340 Zero 340

Drawing A/C
2000 2000

Insurance A/C
32400 32400

Zero

Utility Expense
270 270

Trial Balance
Sr # 1) 2) 3) 4) 5) 6) 7) 8) 9) Details Cash A/C Capital A/C Rent A/C Equipment A/C Interest Expense A/C Notes payable A/C Interest payable A/C Office Supplies A/C A/C Payable McBryan A/C Debit credit 2740 100,000

11200 180,000 9900 110000 9900 1630 4100

10)

18450

11) 12) 13) 14) 15) 16)

Salaries A/C A/C Receivable Earth Movers A/C Drawing A/C Insurance A/C Utility expense A/C Total

7200 590 zero 2000 32400 270 245190

Zero

245190

ADJUSTING ENTRY
Sr # a) Details prepaid Rent A/C To Cash A/C (advance payment of rent covered a period of three months) Interest expense A/C To interest payable A/C (interest accrued on the note payable) Depreciation A/C To Accumulated Depreciation A/C NO ENTRY Unearned revenue A/C To earned Revenue A/C (Paid fees in advance) Cash A/C To Revenue A/C (Tony rental earned revenue) Salaries expense A/c To Salaries payable A/C (Paid salaries) L.F Debit 27000 Credit 27000

b)

825 825 1500 1500 4840 4840 500 500 900 900

c) d) e)

f)

e)