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    umair098
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    - The document records various financial transactions made by Johnson Plumbing, Inc. throughout March 2015, including purchases, sales, bills paid, and dividends received. - A trial balance as of March 31, 2015 summarizes the company's accounts with total debits of $77,200 and total credits of $75,620, indicating profits of $1,580 for the month. - The company began the month with $35,000 cash used to purchase common stocks, and ended with $6,680 cash on hand and no amounts owed in accounts payable.

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    - The document records various financial transactions made by Johnson Plumbing, Inc. throughout March 2015, including purchases, sales, bills paid, and dividends received. - A trial balance as of March 31, 2015 summarizes the company's accounts with total debits of $77,200 and total credits of $75,620, indicating profits of $1,580 for the month. - The company began the month with $35,000 cash used to purchase common stocks, and ended with $6,680 cash on hand and no amounts owed in accounts payable.

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    7 views7 pages

    Question 1 - Complete

    Uploaded by

    umair098
    - The document records various financial transactions made by Johnson Plumbing, Inc. throughout March 2015, including purchases, sales, bills paid, and dividends received. - A trial balance as of March 31, 2015 summarizes the company's accounts with total debits of $77,200 and total credits of $75,620, indicating profits of $1,580 for the month. - The company began the month with $35,000 cash used to purchase common stocks, and ended with $6,680 cash on hand and no amounts owed in accounts payable.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
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    of 7

    Journal

    Date
    Account Title
    2/3/2015 Cash

    Debit
    Credit
    35,000.00
    Common Stocks
    35,000.00
    3-Mar Supplies
    200.00
    Cash
    200.00
    3-Mar Equipment
    3,200.00
    Accounts Payable
    3,200.00
    4-Mar Cash
    1,400.00
    Service Revenue
    1,400.00
    7-Mar Land
    24,000.00
    Cash
    24,000.00
    11-Mar Accounts Receivable
    800.00
    Service Revenue
    800.00
    16-Mar Accounts Payable
    3,200.00
    Cash
    3,200.00
    17-Mar Telephone Bill
    150.00
    Cash
    150.00
    18-Mar Cash
    400.00
    Accounts Receivable
    400.00
    22-Mar Water & Electricity Bill
    170.00
    Cash
    170.00
    29-Mar Cash
    1,500.00
    Service Revenue
    1,500.00
    31-Mar Salaries Account
    1,800.00
    Cash
    1,800.00
    31-Mar Dividends
    2,100.00
    Cash
    2,100.00
    ###
    ###

    T Acc
    Cash
    Referance Debit
    Credit
    2-Mar 35,000.00
    3-Mar
    200.00
    4-Mar 1,400.00
    7-Mar
    24,000.00
    16-Mar
    3,200.00
    17-Mar
    150.00
    18-Mar
    400.00
    29-Mar 1,500.00
    31-Mar
    1,800.00
    31-Mar
    2,100.00
    38,300.00 31,450.00
    6,850.00

    Common Stocks
    Referance Debit
    2-Mar

    Telephone Bill
    Referance Debit
    Credit
    17-Mar $150.00
    $150.00

    Water & Electricity Bill


    Referance Debit
    22-Mar
    $170.00
    $170.00

    Accounts Payable
    Referance Debit
    3-Mar
    16-Mar
    $3,200.00
    Land
    Referance Debit
    7-Mar $24,000.00
    $24,000.00

    T Accounts

    on Stocks
    Credit
    35,000.00
    ###

    Supplies
    ReferanceDebit
    Credit
    3-Mar
    $200.00
    $200.00

    ts Payable
    Credit
    $3,200.00

    Service Revenue
    ReferanceDebit
    Credit
    4-Mar
    $1,400.00
    11-Mar
    $800.00
    ###

    and
    Credit

    lectricity Bill
    Credit

    Equipment
    ReferanceDebit
    Credit
    3-Mar $3,200.00
    $3,200.00
    Salaries
    ReferanceDebit
    Credit
    31-Mar $1,800.00
    $1,800.00

    Salaries
    ReferanceDebit
    Credit
    31-Mar $1,800.00
    $1,800.00

    Accounts Receivable
    ReferanceDebit
    Credit
    11-Mar $800.00
    18-Mar
    $400.00
    $400.00
    Dividends
    ReferanceDebit
    Credit
    31-Mar $2,100.00
    ###
    Telephone Bill
    ReferanceDebit
    Credit
    17-Mar $150.00
    $150.00
    Water & Electricity Bill
    ReferanceDebit
    Credit
    22-Mar $170.00
    $170.00

    Dividends
    ReferanceDebit
    Credit
    31-Mar $2,100.00
    ###

    Johnson Plumbing, Inc.


    Trial Balance
    As of March 31, 2015
    Account Title
    Cash
    Common Stocks
    Accounts Payable
    Land
    Supplies
    Service Revenue
    Equipment
    Accounts Receivable
    Salaries
    Telephone Bill
    Water & Electricity Bill
    Dividends
    Totals

    Debit

    Credit

    $6,680.00
    $35,000.00
    $0.00
    $24,000.00
    $200.00
    $3,700.00
    $3,200.00
    $400.00
    $1,800.00
    $150.00
    $170.00
    $2,100.00
    ###

    ###

    Requirement 4:
    The business has to work with a total of resources worth $35,000. The company owed nothing at the e

    any owed nothing at the end of March. It made a profit of $1,580 by the end of the month.

    nth.

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