GENERAL JOURNAL Page 1

PROB 2.3
Date Account Titles and Explanation P.R. Debit Credit
### Cash 41,348
Share capital 41,348
Rahul Shah invested cash in the company

### Hired two employee's warehouse-No entry

### Prepaid rent 24,000

Cash 24,000
Prepaid warehouse for first year

### Equipment 30,000

Cash 10,000
Account payable 20,000
Purchased furniture and equipment

### Prepaid insurance 1,800

cash 1,800
Prepaid insurance on the furniture and equipment

### Office supplies 428

cash 428
Purchased offiice supplies

### Office supplies 1,500

Account payable 1,500
Purchased office supplies on account

### Cash 8,000

Account receivable 12,000
Revenues 20,000
Total revenues earned

### Account payable 400

Cash 400
Paid to suppliese for account payable due
 Cash 3,000
Account receivable 3,000
Customer paymented

### Utilities expense 380

Account payable 380
Received utility bills to be paid in next month

### Salaries expense 6,100

cash 6,100
Paid salaries
CASH LEGER CODE: 101
DATE EXPLANTION PR Debit
### openning balance
Rahul Shah invested cash in the company 41,348
Prepaid warehouse for first year
Purchased furniture and equipment
Prepaid insurance on the furniture and equipment
Purchased offiice supplies
Total revenues earned 8,000
Paid to suppliese for account payable due
Customer paymented 3,000
Paid salaries

SUPPLIES
DATE EXPLANTION PR Debit
### openning balance
Purchased offiice supplies 428
Purchased office supplies on account 1,500

PREPAID RENT
DATE EXPLANTION PR Debit
### openning balance
Prepaid warehouse for first year 24,000

ACCOUNT PAYABLE
DATE EXPLANTION PR Debit
### openning balance
Purchased furniture and equipment
Purchased office supplies on account
Paid to suppliese for account payable due 400
 Received utility bills to be paid in next month

SALARIES AND WAGES EXPENSE

DATE EXPLANTION PR Debit
### openning balance
Paid salaries 6,100

UTILITIES EXPENSE
DATE EXPLANTION PR Debit
### openning balance
Received utility bills to be paid in next month 380
ODE: 101 ACCOUNT RECEIVABLE
Credit Balance DATE
- ###
41,348
24,000 17,348
10,000 7,348
1,800 5,548
428 5,120
13,120
400 12,720
15,720
6,100 9,620

PREPAID INSURANCE
Credit Balance DATE
- ###
428
1,928

EQUIPMENT
Credit Balance DATE
- ###
24,000

SHARE CAPITAL
Credit Balance DATE
- ###
20,000 20,000
1,500 21,500
21,100
 380 21,480

SERVICE REVENUES
Credit Balance DATE
- ###
6,100

Credit Balance
-
380
ACCOUNT RECEIVABLE
EXPLANTION PR Debit Credit
openning balance
Total revenues earned 12,000
Customer paymented 3,000

PREPAID INSURANCE
EXPLANTION PR Debit Credit
openning balance
Prepaid insurance on the furniture and equipment 1,800

EQUIPMENT
EXPLANTION PR Debit Credit
openning balance
Purchased furniture and equipment 30,000

SHARE CAPITAL
EXPLANTION PR Debit Credit
openning balance
Rahul Shah invested cash in the company 41,348
SERVICE REVENUES
EXPLANTION PR Debit Credit
openning balance
Total revenues earned 20000
Balance
-
12,000
9,000

Balance
-
1,800

Balance
-
30,000

Balance
-
41,348
Balance
-
20,000
 Trial Balance

Account titles Debit Credit

Cash 9,620
Account Receivable 9,000
Supplies 1,928
Prepaid Insurance 1,800
Prepaid rent 24,000
Equipment 30,000
Account payable 21,480
Share capital 41,348
Sevice revenues 20,000
Salaries expense 6,100
Utilities expense 380
Total 82,828 82,828
 Emily Stanbury dental clinic
Income statement
For the month ended May 31
Service revenues 20,000
Salaries and wages expense (6,100)
Advertising expense (380)
Net Income 13,520
 Emily Stanbury dental clinic
Retained earning statement
For the month ended Mar 31
Retained earning, opening balance -
Plus: Net income 13,520
Minus: Dividends -
Retained earnings, ending balance 13,520
 Balance sheet/ Statement of financial position
At the date Mar 31
Assets
Noncurrent assets -
Current assets: 76,348
Prepaid rent 24000
Prepaid Insurance 1,800
Equipment 30,000
Supplies 1,928
Accounts receivable 9,000
Cash 9,620
Total assets 76,348
Liabilities and equity 76,348
Share capital 41,348
Retained earning 13,520
Accounts payable 21,480
Total liabilities and equity 76,348