DO IT ALL SOLUTION - Part 1 - Page 1 of 2

ASSETS LIABILITIES OWNER'S EQUITY

Date Transaction TOTAL ASSETS TOTAL TOTAL EQUITY Check: Cash Accounts Accrued Office Prepaid Office Accumulated Land Accounts Accrued Unearned Mendoza, Income
LIABILITIES Receivable Revenue Supplies Expenses Equipment Depreciation Payable Expenses Revenue Capital Summary

1 2-Nov-16 Investment of Cash 250,000 - 250,000 - 250,000 250,000

2 5-Nov-16 Purchase of Land - - - - (200,000) 200,000
Balance 250,000 - 250,000 - 50,000 - - - - - - 200,000 - - - 250,000 -
3 Purchase of Supplies on -
10-Nov-16 Account 13,500 13,500 -
13,500 13,500
Balance 263,500 13,500 250,000 - 50,000 - - 13,500 - - - 200,000 13,500 - - 250,000 -
4 Receipt of cash for 75,000 - 75,000 -
18-Nov-16 services rendered
75,000 75,000
Balance 338,500 13,500 325,000 - 125,000 - - 13,500 - - - 200,000 13,500 - - 250,000 75,000
5 Payment of salaries,
rent, utilities &
miscellaneous expenses
30-Nov-16 for the month (36,500) - (36,500) -

(36,500) (36,500)
Balance 302,000 13,500 288,500 - 88,500 - - 13,500 - - - 200,000 13,500 - - 250,000 38,500
6 Payment to suppliers on (9,500) (9,500) - -
30-Nov-16 account
(9,500) (9,500)
Balance 292,500 4,000 288,500 - 79,000 - - 13,500 - - - 200,000 4,000 - - 250,000 38,500
7 30-Nov-16 Cost of used supplies (8,000) - (8,000) - (8,000) (8,000)
Balance 284,500 4,000 280,500 - 79,000 - - 5,500 - - - 200,000 4,000 - - 250,000 30,500
8 30-Nov-16 Withdrawal of Cash (20,000) - (20,000) - (20,000) (20,000)
Balance 264,500 4,000 260,500 - 59,000 - - 5,500 - - - 200,000 4,000 - - 230,000 30,500
 DO IT ALL SOLUTION - Part 1 - Page 2 of 2
JOURNAL ENTRIES
Date Account Debit Credit
1 2-Nov-16 Cash 250,000
Mendoza, Capital 250,000
To record investment of Cash

2 5-Nov-16 Land 200,000

Cash 200,000
To record purchase of land

3 10-Nov-16 Office Supplies 13,500

Accounts Payable 13,500
To record purchase of supplies on account

4 18-Nov-16 Cash 75,000

Service Revenue 75,000
To record receipt of cash for services rendered

5 30-Nov-16 Salaries Expense 21,250

Rent Expense 8,000
Utilities Expense 4,500
Miscellaneous Expense 2,750
Cash 36,500
To record payment of salaries, rent, utilities & miscellaneous expenses for the month

6 30-Nov-16 Accounts Payable 9,500

Cash 9,500
To record payment to suppliers on account

7 30-Nov-16 Office Supplies Expense 8,000

Office Supplies 8,000
To record cost of used supplies

8 30-Nov-16 Mendoza, Drawings 20,000

Cash 20,000
To record withdrawal of cash
es for the month
 DO IT ALL SOLUTION - Part 2 - Page 1 of 2

JOURNAL ENTRIES
Date Account Debit Credit
1 12/1/2016 Prepaid Expenses 24,000
Cash 24,000
To record payment of prepaid insurance

2 12/1/2016 Prepaid Expenses 8,000

Cash 8,000
To record payment of prepaid rent

3 12/1/2016 Cash 3,600

Unearned Revenue 3,600
To record unearned rent revenue received in advance

4 12/4/2016 Office Equipment 18,000

Accounts Payable 18,000
To record purchase of office equipment on account

5 12/6/2016 Advertising Expense 1,800

Cash 1,800
To record payment of advertising expense

6 12/11/2016 Accounts Payable 4,000

Cash 4,000
To record payment to creditors

7 12/13/2016 Salaries Expense 9,500

Cash 9,500
To record payment of salaries

8 12/16/2016 Cash 31,000

Service Revenue 31,000
To record fees earned and received

9 12/16/2016 Accounts Receivable 17,500

Service Revenue 17,500
To record fee earned on account

10 12/20/2016 Accounts Payable 9,000

Cash 9,000
 To record payment on account

11 12/21/2016 Cash 6,500

Accounts Receivable 6,500
To record cash received on account

12 12/23/2016 Office Supplies 14,500

Cash 14,500
To record purchase of office supplies on cash

13 12/27/2016 Salaries Expense 12,000

Cash 12,000
To record salaries paid.

14 12/31/2016 Utilities Expense 3,100

Cash 3,100
To record payment of telephone bill

15 12/31/2016 Utilities Expense 2,250

Cash 2,250
To record payment of electric bill

16 12/31/2016 Cash 28,700

Service Revenue 28,700
To record fees received

17 12/31/2016 Accounts Receivable 11,200

Service Revenue 11,200
To record fees earned on account

18 12/31/2016 Mendoza, Drawings 20,000

Cash 20,000
To record cash withdrawals
DO IT ALL SOLUTION - Part 2 - Page 2 of 2
ASSET ACCOUNTS
CASH
Date Debit Credit Balance
Beg. Balance -
11/2/2016 250,000 250,000
11/5/2016 200,000 50,000
11/18/2016 75,000 125,000
11/30/2016 36,500 88,500
11/30/2016 9,500 79,000
11/30/2016 20,000 59,000
12/1/2016 24,000 35,000
12/1/2016 8,000 27,000
12/1/2016 3,600 30,600
12/6/2016 1,800 28,800
12/11/2016 4,000 24,800
12/13/2016 9,500 15,300
12/16/2016 31,000 46,300
12/20/2016 9,000 37,300
12/21/2016 6,500 43,800
12/27/2016 14,500 29,300
12/31/2016 12,000 17,300
12/31/2016 3,100 14,200
12/31/2016 2,250 11,950
12/31/2016 28,700 40,650
12/31/2016 20,000 20,650
<Date> 20,650
<Date> 20,650
<Date> 20,650
<Date> 20,650
<Date> 20,650
<Date> 20,650
<Date> 20,650
<Date> 20,650
<Date> 20,650
Balance as of D 394,800 374,150 20,650

ACCOUNTS RECEIVABLE
Date Debit Credit Balance
Beg. Balance -
12/16/2016 17,500 17,500
12/21/2016 6,500 11,000
 12/31/2016 11,200 22,200
<Date> 22,200
<Date> 22,200
<Date> 22,200
<Date> 22,200
<Date> 22,200
<Date> 22,200
<Date> 22,200
Balance as of D 28,700 6,500 22,200

ACCRUED REVENUE
Date Debit Credit Balance
Beg. Balance -
<Date> -
<Date> -
<Date> -
<Date> -
<Date> -
<Date> -
<Date> -
<Date> -
<Date> -
<Date> -
Balance as of D - - -

OFFICE SUPPLIES
Date Debit Credit Balance
Beg. Balance -
11/10/2016 13,500 13,500
11/30/2016 8,000 5,500
12/23/2016 14,500 20,000
<Date> 20,000
<Date> 20,000
<Date> 20,000
<Date> 20,000
<Date> 20,000
<Date> 20,000
<Date> 20,000
Balance as of D 28,000 8,000 20,000

PREPAID EXPENSES
Date Debit Credit Balance
Beg. Balance -
12/1/2016 24,000 24,000
 12/1/2016 8,000 32,000
<Date> 32,000
<Date> 32,000
<Date> 32,000
<Date> 32,000
<Date> 32,000
<Date> 32,000
<Date> 32,000
<Date> 32,000
Balance as of D 32,000 - 32,000

OFFICE EQUIPMENT
Date Debit Credit Balance
Beg. Balance -
12/4/2016 18,000 18,000
<Date> 18,000
<Date> 18,000
<Date> 18,000
<Date> 18,000
<Date> 18,000
<Date> 18,000
<Date> 18,000
<Date> 18,000
<Date> 18,000
Balance as of D 18,000 - 18,000

ACCUMULATED DEPRECIATION - OFFICE EQUIPMENT

Date Debit Credit Balance
Beg. Balance -
<Date> -
<Date> -
<Date> -
<Date> -
<Date> -
<Date> -
<Date> -
<Date> -
<Date> -
<Date> -
Balance as of D - - -

LAND
Date Debit Credit Balance
Beg. Balance -
11/5/2016 200,000 200,000
 <Date> 200,000
<Date> 200,000
<Date> 200,000
<Date> 200,000
<Date> 200,000
<Date> 200,000
<Date> 200,000
<Date> 200,000
<Date> 200,000
Balance as of D 200,000 - 200,000

LIABILITY ACCOUNTS
ACCOUNTS PAYABLE
Date Debit Credit Balance
Beg. Balance -
11/10/2016 13,500 13,500
11/30/2016 9,500 4,000
12/4/2016 18,000 22,000
12/11/2016 4,000 18,000
12/20/2016 9,000 9,000
<Date> 9,000
<Date> 9,000
<Date> 9,000
<Date> 9,000
<Date> 9,000
Balance as of D 22,500 31,500 9,000

ACCRUED EXPENSES
Date Debit Credit Balance
Nov. 30 -
<Date> -
<Date> -
<Date> -
<Date> -
<Date> -
<Date> -
<Date> -
<Date> -
<Date> -
<Date> -
Balance as of D - - -

UNEARNED REVENUE
Date Debit Credit Balance
Nov. 30 -
 12/1/2016 3,600 3,600
<Date> 3,600
<Date> 3,600
<Date> 3,600
<Date> 3,600
<Date> 3,600
<Date> 3,600
<Date> 3,600
<Date> 3,600
<Date> 3,600
Balance as of D - 3,600 3,600

OWNER'S EQUITY ACCOUNTS

MENDOZA, CAPITAL
Date Debit Credit Balance
Beg. Balance -
11/2/2016 250,000 250,000
<Date> 250,000
<Date> 250,000
<Date> 250,000
<Date> 250,000
<Date> 250,000
<Date> 250,000
<Date> 250,000
<Date> 250,000
<Date> 250,000
Balance as of D - 250,000 250,000

MENDOZA, DRAWINGS
Date Debit Credit Balance
Beg. Balance -
11/30/2016 20,000 20,000
12/31/2016 20,000 40,000
<Date> 40,000
<Date> 40,000
<Date> 40,000
<Date> 40,000
<Date> 40,000
<Date> 40,000
<Date> 40,000
<Date> 40,000
Balance as of D 40,000 - 40,000

REVENUE ACCOUNTS
SERVICE REVENUE
 Date Debit Credit Balance
Beg. Balance -
11/18/2016 75,000 75,000
12/16/2016 31,000 106,000
12/16/2016 17,500 123,500
12/31/2016 28,700 152,200
12/31/2016 11,200 163,400
<Date> 163,400
<Date> 163,400
<Date> 163,400
<Date> 163,400
<Date> 163,400
Balance as of D - 163,400 163,400

RENT REVENUE
Date Debit Credit Balance
Beg. Balance -
<Date> -
<Date> -
<Date> -
<Date> -
<Date> -
<Date> -
<Date> -
<Date> -
<Date> -
<Date> -
Balance as of D - - -

INTEREST INCOME
Date Debit Credit Balance
Beg. Balance -
<Date> -
<Date> -
<Date> -
<Date> -
<Date> -
<Date> -
<Date> -
<Date> -
<Date> -
<Date> -
Balance as of D - - -

EXPENSE ACCOUNTS
SALARIES EXPENSE
Date Debit Credit Balance
Beg. Balance -
11/30/2016 21,250 21,250
12/13/2016 9,500 30,750
12/27/2016 12,000 42,750
<Date> 42,750
<Date> 42,750
<Date> 42,750
<Date> 42,750
<Date> 42,750
<Date> 42,750
<Date> 42,750
Balance as of D 42,750 - 42,750

RENT EXPENSE
Date Debit Credit Balance
Beg. Balance -
11/30/2016 8,000 8,000
<Date> 8,000
<Date> 8,000
<Date> 8,000
<Date> 8,000
<Date> 8,000
<Date> 8,000
<Date> 8,000
<Date> 8,000
<Date> 8,000
Balance as of D 8,000 - 8,000

UTILITIES EXPENSE
Date Debit Credit Balance
Beg. Balance -
11/30/2016 4,500 4,500
12/31/2016 3,100 7,600
12/31/2016 2,250 9,850
<Date> 9,850
<Date> 9,850
<Date> 9,850
<Date> 9,850
<Date> 9,850
<Date> 9,850
<Date> 9,850
Balance as of D 9,850 - 9,850
MISCELLANEOUS EXPENSE
Date Debit Credit Balance
Beg. Balance -
11/30/2016 2,750 2,750
<Date> 2,750
<Date> 2,750
<Date> 2,750
<Date> 2,750
<Date> 2,750
<Date> 2,750
<Date> 2,750
<Date> 2,750
<Date> 2,750
Balance as of D 2,750 - 2,750

INSURANCE EXPENSE
Date Debit Credit Balance
Beg. Balance -
<Date> -
<Date> -
<Date> -
<Date> -
<Date> -
<Date> -
<Date> -
<Date> -
<Date> -
<Date> -
Balance as of D - - -

ADVERTISING EXPENSE
Date Debit Credit Balance
Beg. Balance -
12/6/2016 1,800 1,800
<Date> 1,800
<Date> 1,800
<Date> 1,800
<Date> 1,800
<Date> 1,800
<Date> 1,800
<Date> 1,800
<Date> 1,800
<Date> 1,800
Balance as of D 1,800 - 1,800
OFFICE SUPPLIES EXPENSE
Date Debit Credit Balance
Beg. Balance -
11/30/2016 8,000 8,000
<Date> 8,000
<Date> 8,000
<Date> 8,000
<Date> 8,000
<Date> 8,000
<Date> 8,000
<Date> 8,000
<Date> 8,000
<Date> 8,000
Balance as of D 8,000 - 8,000

DEPRECIATION EXPENSE
Date Debit Credit Balance
Beg. Balance -
<Date> -
<Date> -
<Date> -
<Date> -
<Date> -
<Date> -
<Date> -
<Date> -
<Date> -
<Date> -
Balance as of D - - -
DO IT ALL SOLUTION - Part 3 - Page 1 of 4
ADJUSTING JOURNAL ENTRIES

Date Account Debit Credit

1 <Date> <Select Account>
<Select Account>
<Provide description>

2 <Date> <Select Account>

<Select Account>
<Provide description>

3 <Date> <Select Account>

<Select Account>
<Provide description>

4 <Date> <Select Account>

<Select Account>
<Provide description>

5 <Date> <Select Account>

<Select Account>
<Provide description>

6 <Date> <Select Account>

<Select Account>
<Provide description>

7 <Date> <Select Account>

<Select Account>
<Provide description>

8 <Date> <Select Account>

<Select Account>
<Provide description>

9 <Date> <Select Account>

<Select Account>
<Provide description>

10 <Date> <Select Account>

<Select Account>
<Provide description>
DO IT ALL SOLUTION - Part 3 - Page 2 of 4
Trial Balance
For the Two Months Ended December 31, 2016

Unadjusted Adjustments
ACCOUNTS Debit Credit Debit
Cash 394,800 374,150 -
Accounts Receivable 28,700 6,500 -
Accrued Revenue - - -
Office Supplies 28,000 8,000 -
Prepaid Expenses 32,000 - -
Office Equipment 18,000 - -
Accumulated Depreciation - - -
Land 200,000 - -
Accounts Payable 22,500 31,500 -
Accrued Expenses - - -
Unearned Revenue - 3,600 -
Mendoza, Capital - 250,000 -
Mendoza, Drawings 40,000 - -
Service Revenue - 163,400 -
Rent Revenue - - -
Interest Income - - -
Salaries Expense 42,750 - -
Rent Expense 8,000 - -
Utilities Expense 9,850 - -
Office Supplies Expense 8,000 - -
Miscellaneous Expense 2,750 - -
Insurance Expense - - -
Advertising Expense 1,800 - -
Depreciation Expense - - -
Grand Total 837,150 837,150 -
Check -
Adjustments Adjusted Balances
FS Reported balances
Credit Debit Credit
- 394,800 374,150 20,650
- 28,700 6,500 22,200
- - - -
- 28,000 8,000 20,000
- 32,000 - 32,000
- 18,000 - 18,000
- - - -
- 200,000 - 200,000
- 22,500 31,500 (9,000)
- - - -
- - 3,600 (3,600)
- - 250,000 (250,000)
- 40,000 - 40,000
- - 163,400 (163,400)
- - - -
- - - -
- 42,750 - 42,750
- 8,000 - 8,000
- 9,850 - 9,850
- 8,000 - 8,000
- 2,750 - 2,750
- - - -
- 1,800 - 1,800
- - - -
- 837,150 837,150 -
- -
 Checking:
November December Unadjusted
Debit Credit Debit Credit Debit
325,000 266,000 69,800 108,150 394,800
- - 28,700 6,500 28,700
- - - - -
13,500 8,000 14,500 - 28,000
- - 32,000 - 32,000
- - 18,000 - 18,000
- - - - -
200,000 - - - 200,000
9,500 13,500 13,000 18,000 22,500
- - - - -
- - - 3,600 -
- 250,000 - - -
20,000 - 20,000 - 40,000
- 75,000 - 88,400 -
- - - - -
- - - - -
21,250 - 21,500 - 42,750
8,000 - - - 8,000
4,500 - 5,350 - 9,850
8,000 - - - 8,000
2,750 - - - 2,750
- - - - -
- - 1,800 - 1,800
- - - - -
612,500 612,500 224,650 224,650 837,150
- -
:
Unadjusted Difference (between GL and Journal)
Credit Debit Credit
374,150 - -
6,500 - -
- - -
8,000 - -
- - -
- - -
- - -
- - -
31,500 - -
- - -
3,600 - -
250,000 - -
- - -
163,400 - -
- - -
- - -
- - -
- - -
- - -
- - -
- - -
- - -
- - -
- - -
837,150 - -
-
DO IT ALL SOLUTION - Part 3 - Page 3 of 4
DO IT ALL SOLUTION
Statement of Financial Position
As of December 31, 2016

ASSETS
Current Assets
Cash 20,650
Accounts Receivable 22,200
Accrued Revenue -
Office Supplies 20,000
Prepaid Expenses 32,000
Total Current Assets 94,850
Non-Current Assets
Office Equipment 18,000
Accumulated Depreciation -
Land 200,000
Total Non-Current Assets 218,000
TOTAL ASSETS 312,850

LIABILITIES
Current Liabilities
Accounts Payable 9,000
Accrued Expenses -
Unearned Revenue 3,600
Total Current Liabilities 12,600
Non-Current Liabilities -
TOTAL LIABILITIES 12,600

OWNER'S EQUITY
Mendoza, Capital 340,250
Mendoza, Drawings (40,000)
TOTAL OWNER'S EQUITY 300,250

TOTAL LIABILITIES & OWNER'S EQUITY 312,850

Check: -
DO IT ALL SOLUTION - Part 3 - Page 4 of 4
DO IT ALL SOLUTION
Income Statement
For the two months ended December 31, 2016

Revenue
Service Revenue 163,400
Rent Revenue -
Total Revenue 163,400
Operating Expenses
Salaries Expense 42,750
Rent Expense 8,000
Utilities Expense 9,850
Office Supplies Expense 8,000
Miscellaneous Expense 2,750
Insurance Expense -
Advertising Expense 1,800
Depreciation Expense -
Total Operating Expenses 73,150
Operating Income 90,250
Interest Income -
Net Income 90,250
DO IT ALL SOLUTION
CHART OF ACCOUNTS

Cash BS Assets Current Asset

Accounts Receivable BS Assets Current Asset
Accrued Revenue BS Assets Current Asset
Office Supplies BS Assets Current Asset
Prepaid Expenses BS Assets Current Asset
Office Equipment BS Assets NonCurrent Asset
Accumulated Depreciation BS Assets NonCurrent Asset
Land BS Assets NonCurrent Asset
Accounts Payable BS Liability Current Liability
Accrued Expenses BS Liability Current Liability
Unearned Revenue BS Liability Current Liability
Mendoza, Capital BS Capital Capital
Mendoza, Drawings BS Capital Capital
Service Revenue IS Income Revenue
Rent Revenue IS Income Revenue
Interest Income IS Income Other Income
Salaries Expense IS Expenses Operating Expenses
Rent Expense IS Expenses Operating Expenses
Utilities Expense Is Expenses Operating Expenses
Office Supplies Expense IS Expenses Operating Expenses
Miscellaneous Expense IS Expenses Operating Expenses
Insurance Expense Is Expenses Operating Expenses
Advertising Expense Is Expenses Operating Expenses
Depreciation Expense IS Expenses Operating Expenses