Posting

Cash Account

Date Description J-R Dr Cr Balance

Started Business 100000
Purchased Furniture 7000
Purchased Goods 2000
Cash sales 5000
Withdrawel by owner 2000
Credit payment 500
Cash received 10000
Paid salaries 2000
Started Business 57500
Purchased Insurance 3000
Made purchases 400
Cash received 2000
Created Liability 15000
Cash Purchases 25000
Started Business 15000
Cash Purchases 2000
Cash sales 5000
Gave Charity 50
Discount sales 975
Received Cash 1450
Totals 210950 44925 166025

Account Receivables

Date Description J-R Dr Cr Balance

Credit sales 12000
Received Cash 10000
Discount received and liability payoff 1000
Received Cash 2000
Credit sales 1500
Converted to cash 1500
Totals 14500 13500 1000

Prepaid expenses

Date Description J-R Dr Cr Balance

Purchased Insurance 3000
Totals 3000

Unearned revenue
Date Description J-R Dr Cr Balance
Created Liability 15000
Totals 15000

Services revenue

Date Description J-R Dr Cr Balance

10000
Totals 10000

Discount received

Date Description J-R Dr Cr Balance

Discount received and liability payoff 25
Totals 25

Purchases

Date Description J-R Dr Cr Balance

Purchased goods on cash and credit 3000
Credit purchases 3000
Charity 30
Totals 5970
Posting to Ledger Accounts

Date Description
Purchased furniture for cash
Started business
Cash and credit purchases
Started business
Totals

Date Description
Credit purchases
Paid credit
Credit purchases
Credit purchases
Discount received and liability payoff
Totals

Date Description
Credit purchases
Totals

Date Description
Started Business
Started Business
Started Business
Totals

Date Description
Withdrawel by owner
Totals

Date Description
Cash and credit sales
 Cash and credit sales
Totals

Date Description
Paid Salaries
Totals

Date Description
Cash and credit payments
Totals

Date Description
Charity by cash and goods
Totals

Date Description
Account receivable realized and discount allowed
Totals
 Fixed Asset Account

J-R Dr Cr Balance
7000
32500
100000
10000
149500

Account Payable account

J-R Dr Cr Balance
1000
500
1000
1000
1000
1500 3000 1500

Notes Payables

J-R Dr Cr Balance
75000
75000

Owner's equity

J-R Dr Cr Balance
100000
81000
25000
206000

Drawings

J-R Dr Cr Balance
2000
2000

Sales

J-R Dr Cr Balance
17000
 6500
23500

Salaries

J-R Dr Cr Balance
2000
2000

Office Supplies

J-R Dr Cr Balance
1400
1400

Charity

J-R Dr Cr Balance
80
80

Discount Allowed

J-R Dr Cr Balance
50
50
 General Journal
Month Journal Entry Dr Cr
Dec Cash $ 100,000.00
Owner's Equity $ 100,000.00

Furniture $ 7,000.00
Cash $ 7,000.00

Purchases $ 3,000.00
Cash $ 2,000.00
Accounts Payables $ 1,000.00

Cash $ 5,000.00
Accounts Recievables $ 12,000.00
Sales $ 17,000.00

Drawings $ 2,000.00
Cash $ 2,000.00

Account Payable $ 500.00

Cash $ 500.00

Cash $ 10,000.00
Accounts Receivables $ 10,000.00

Salaries Expense $ 2,000.00

Cash $ 2,000.00

Cash $ 57,500.00
Photograhy equipment $ 32,500.00
Owner's equity $ 81,000.00

Prepaid insurance $ 3,000.00

Cash $ 3,000.00

Accounts receivable $ 10,000.00

Services revenue $ 10,000.00

Office supplies $ 1,400.00

Cash $ 400.00
Accounts Payable $ 1,000.00

Cash $ 2,000.00
Accounts recievables $ 2,000.00

Cash $ 15,000.00
 unearned revenue $ 15,000.00

Photography equipment $ 100,000.00

Cash $ 25,000.00
Notes Payable $ 75,000.00

Cash $ 15,000.00
Land $ 10,000.00
Owners equity $ 25,000.00

purchases $ 3,000.00
account payable $ 1,000.00
cash $ 2,000.00

Accounts recievables $ 1,500.00

Cash $ 5,000.00
Sales $ 6,500.00

Charity $ 80.00
Cash $ 50.00
Purchases $ 30.00

Accounts payable $ 1,000.00

Cash $ 975.00
Discount $ 25.00

Cash $ 1,450.00
Discount $ 50.00
Accounts Receivables $ 1,500.00
 Preparing a Trial Balance
December 31, 2020

S.No Account Title Debit Credit

1 Cash 166025
2 A/R 1000
3 Prepaid expenses 3000
4 Fixed asset 149500
5 A/P 1500
6 N/P 75000
7 Owner Equity 206000
8 Drawing 2000
9 Sales 23500
10 Unearned Rev 15000
11 Service Rev 10000
12 Discount received 25
13 Salaries 2000
14 Office supplies 1400
15 Charity 80
16 Discount allowed 50
17 Purchases 5970
Total 331025 331025
 Chart of Accounts
S.No Account Title Running Balance

1 Cash 162825
2 A/R 10000
3 Prepaid 3000
4 Fixed asset 149500
5 A/P 1500
6 N/P 75000
7 Owner Equity 206000
8 Drawing 2000
9 Sales 23500
10 Unearned Rev 15000
11 Service Rev 10000
12 Discount received 25
13 Salaries 2000
14 Office supplies 1400
15 Charity 80
16 Discount allowed 50
17 Purchases 5970