LOPEZ, ERICA BSA2

FINAL EXAMINATION IN AIS

1. GENERAL JOURNAL

DATE
Sept 01

Sept 01

Sept 01

Sept. 4

Sept. 8

Sept. 12

Sept. 15

Sept. 17
Sept. 23

Sept. 25

Sept. 26

Sept. 27

Sept. 28

Sept. 29

Sept. 30

Sept. 30
 Tony's Rental
General Journal
For the Month of September
PARTICULARS P/R DEBIT CREDIT
Cash 10 $100,000
Anthony Ferrara, Capital 321 $100,000
Received cash in business Tony’s rental

Prepaid Rent 21 9,000

Cash 10 9,000
Paid 3 months advance rent

Rental Equipment 65 180,000

Cash 10 70,000
Notes Payable 87 110,000
Paid for Equipment in Cash & Notes
Payable @ 9% per annum

Office Supplies 25 1,630

Accounts Payable 98 1,630
Purchase office supplies on account

Cash 10 10,000
Unearned Rental Fee 43 10,000
Received advance rent on rental yard

Salaries Expense 163 3,600

Cash 10 3,600
Paid salaries for first two week

Cash 10 5,300
Account Receivable 20 800
Rental Fee Earned 153 6,100
Rental fee earned in cash & on account

Maintenance Expense 162 340

Accounts Payable 98 340
Purchased part for repairing on account
Cash 10 210
Account Receivable 20 210
Received cash on account of rental fee

Rental Equipment 65 100

Accounts Payable 98 100
Rented a backhoe @ $99 per day, but
when he return after two or three week

Salaries Expense 163 3,600

Cash 10 3,600
Paid biweekly salaries

Account Payable 98 340

Cash 10 340
Paid to Earth Movers Inc.

Anthony Ferrara, Drawing 234 2,000

Cash 10 2,000
Anthony withdrawal for personal use

Unexpired Insurance 23 2,700

Cash 10 2,700
Purchased an insurance policy

Utilities Expense 124 270

Account Payable 98 270
Received utility bill m/o September

Cash 10 8,450
Rental Fee Earned 153 8,450
Received cash of rental fee second half
2. GENERAL LEDGER
Tony's Rental
GENERAL LEDGER
For the Month of September

DATE PARTICULAR P/R

Sept. 1 Anthony Ferrara, Capital 321
Sept. 8 Unearned Rental Fee 43
Sept. 15 Rental Fee Earned 153
Sept. 23 Account Receivable 20
Sept. 30 Rental Fee Earned 153

Oct.1 Balance b/f

DATE PARTICULAR P/R

Sept. 15 Rental Fee Earned 50

Oct. 1 Balance b/f

DATE PARTICULAR P/R

Sept. 1 Cash 1

Oct. 1 Balance b/f

DATE PARTICULAR P/R

Sept. 29 Cash 1
 Oct. 1 Balance b/f

DATE PARTICULAR P/R

Sept. 4 Accounts Payable 22

Oct. 1 Balance b/f

DATE PARTICULAR P/R

Cash & Notes Payable 1&
Sept. 1
20

Oct. 1 Balance b/f

DATE PARTICULAR P/R

Sept. 30 Balance c/f

DATE PARTICULAR P/R

Sept. 27 Cash 1

Sept. 30 Balance c/f

 DATE PARTICULAR P/R

Sept. 30 Balance c/f

Anthony Fe
DATE PARTICULAR P/R

Sept. 30 Balance c/f

Anthony Fer
DATE PARTICULAR P/R
Sept. 28 Cash 1

Oct. 1 Balance b/f

DATE PARTICULAR P/R

Sept. 30 Balance c/f

DATE PARTICULAR P/R

Sept. 12 Cash 1
Sept. 26 Cash 1

Oct. 1 Balance b/f

 DATE PARTICULAR P/R
Sept. 17 Accounts Payable 22

Oct. 1 Balance b/f

DATE PARTICULAR P/R

Sept. 30 Account Payable 22

Oct. 1 Balance b/f

 Tony's Rental
GENERAL LEDGER
For the Month of September
Cash 10
DEBIT DATE PARTICULAR P/R CREDIT
$100,000 Sept. 1 Prepaid Rent 21 9,000
10,000 Sept. 1 Rental Equipment 65 70,000
5,300 Sept. 12 Salaries Expense 163 3,600
210 Sept. 26 Salaries Expense 163 3,600
8,450 Sept. 27 Accounts Payable 98 340
Sept. 28 Anthony Ferrara, Drawing 234 2,000
Sept. 29 Unexpired Insurance 23 2,700
Sept. 30 Balance c/f 32,720

$123,960 $123,960
32,720

Account Receivable 20
DEBIT $ DATE PARTICULAR P/R CREDIT $
800 Sept. 23 Cash 1 210

Sept. 30 Balance c/f 590

800 800
590

Prepaid Rent 21
DEBIT $ DATE PARTICULAR P/R CREDIT $
9,000

Sept. 30 Balance c/f 9,000

9,000 9,000
9,000

Unexpired Insurance 23
DEBIT $ DATE PARTICULAR P/R CREDIT $
2,700
 Sept. 30 Balance c/f 2,700
2,700 2,700
2,700

Office Supplies 25
DEBIT $ DATE PARTICULAR P/R CREDIT $
1,630

Sept. 30 Balance c/f 1,630

1,630 1,630
1,630

Rental Equipment 76
DEBIT $ DATE PARTICULAR P/R CREDIT $
180,000

Sept. 30 Balance c/f 180,000

180,000 180,000
180,000

Notes Payable 87
DEBIT $ DATE PARTICULAR P/R CREDIT $
Sept. 1 Rental Equipment 10 110,000

110,000
110,000 110,000
Oct. 1 Balance b/f 110,000

Account Payable 98
DEBIT $ DATE PARTICULAR P/R CREDIT $
340 Sept. 4 Office Supplies 8 1,630
Sept. 17 Maintenance Expense 61 340
Sept. 30 Utilities Expense 62 270

1,900
2,240 2,240
Oct. 1 Balance b/f 1,900

Unearned Rental Fee 43

DEBIT $ DATE PARTICULAR P/R CREDIT $
Sept. 8 Cash 1 10,000

10,000
10,000 10,000
Oct. 1 Balance b/f 10,000

Anthony Ferrara, Capital 321

DEBIT $ DATE PARTICULAR P/R CREDIT $
Sept. 1 Cash 1 100,000

100,000
100,000 100,000
Oct. 1 Balance b/f 100,000

Anthony Ferrara, Drawing 234

DEBIT $ DATE PARTICULAR P/R CREDIT $
2,000

Sept. 30 Balance c/f 2,000

2,000 2,000
2,000

Rental Fees Earned 153

DEBIT $ DATE PARTICULAR P/R CREDIT $
Sept. 15 Cash & Account Receivable 1&4 6,100
Sept. 30 Cash 1 8,450

14,550
14,550 14,550
Oct. 1 Balance b/f 14,550

Salaries Expense 163

DEBIT $ DATE PARTICULAR P/R CREDIT $
3,600
3,600

Sept. 30 Balance c/f 7,200

7,200 7,200
7,200
Maintenance Expense 162
DEBIT $ DATE PARTICULAR P/R CREDIT $
340

Sept. 30 Balance c/f 340

340 340
340

Utilities Expense 124

DEBIT $ DATE PARTICULAR P/R CREDIT $
270

Sept. 30 Balance c/f 270

270 270
270
3. 10 COLUMN WORKSHEET
ACCOUNT NAME
Cash
Account Receivable
Prepaid Rent
Unexpired Insurance
Office Supplies
Rental Equipment
Accumulated Dep. – R. Equip.
Notes Payable
Account Payable
Interest Payable
Salaries Payable
Unearned Rental Fee
Anthony Ferrara, Capital
Anthony Ferrara, Drawing
Income Summary
Rental Fees Earned
Salaries Expense
Maintenance Expense
Utilities Expense
Rent Expense
Office Supplies Expense
Depreciation Expense – R. Equip.
Interest Expense
TOTAL
NET INCOME
UNADJUSTED TRIAL BALANCE ADJUSTMENTS
DEBIT $ CREDIT $ DEBIT $ CREDIT $
32,720
590 500
9,000 3,000
2,700
1,630 530
180,000
1,500
110,000
1,900
825
900
10,000 4,840
100,000
2,000

14,550 5,340
7,200 900
340
270
3,000
530
1,500
825
236,450 236,450 12095 12,095
 ADJUSTED TRIAL BALANCE
ACCOUNT NAME DEBIT $ CREDIT $
Cash 32,720
Account Receivable 1,090
Prepaid Rent 6,000
Unexpired Insurance 2,700
Office Supplies 1,100
Rental Equipment 180,000
Accumulated Dep. – R. Equip. 1,500
Notes Payable 110,000
Account Payable 1,900
Interest Payable 825
Salaries Payable 900
Unearned Rental Fee 5,160
Anthony Ferrara, Capital 100,000
Anthony Ferrara, Drawing 2,000
Income Summary
Rental Fees Earned 19,890
Salaries Expense 8,100
Maintenance Expense 340
Utilities Expense 270
Rent Expense 3,000
Office Supplies Expense 530
Depreciation Expense – R. Equip. 1,500
Interest Expense 825
240,175 240,175
 INCOME STATEMENT BALANCE SHEET
DEBIT $ CREDIT $ DEBIT $
32,720
1,090
6,000
2,700
1,100
180,000
-1,500

19890
8,100
340
270
3,000
530
1500
825
14,565 222,110
5,325
19,890 19,890
BALANCE SHEET
CREDIT $

110,000
1,900
825
900
5,160
103,325

222,110
4. INCOME STATEMENT
Tony's Rental
INCOME STATEMENT
For the Month of September
Revenue: $ 19,890
Rental Expense
Salaries Fees Earned $ 8,100
Maintenance Expense $ 340
Utilities Expense $ 270
Rent Expense $ 3,000
Office Supplies Expense $ 530

Depreciation Expense – R. $ 1,500

Equip.
Interest Expense
Net Income   $   5,325
 BALANCE SHEET

Ass
1
4
6
7
8
10
12

14,565
  $   5,325

Liabilities & O
22
25
26
29
20
30
 Assets
Cash $ 32,720
Account Receivable $ 1,090
Prepaid Rent $ 6,000
Unexpired Insurance $ 2,700
Office Supplies $ 1,100
Rental Equipment $ 180,000
Less: Accumulated Dep. – R. ($ 1,500) $ 178,500
Equip.
$ 222,110

Liabilities & Owner's Equity

Account Payable $ 1,900
Interest Payable $ 825
Salaries Payable $ 900
Unearned Rental Fee $ 5,160
Notes Payable $ 110,000
Anthony Ferrara, Capital $ 103,325
$ 222,110
 Tony's Rental
CLOSING GENERAL JOURNAL
For the Month of September

DATE PARTICULARS P/R DEBIT CREDIT

$ $

Sept. 30 Rental Fees Earned 50 19,890

Income Summary 40 19890
To closed revenue account
m/o Sept.
Sept. 30 Income Summary 40 14,565
Salaries Expense 60 8,100
Maintenance Expense 61 340
Utilities Expense 62 270
Rent Expense 63 3,000
Office Supplies Expense 64 530
Depreciation Expense – R. 65 1,500
Equip.
Interest Expense 66 825
To closed expense account
m/o Sept.
Sept. 30 Income Summary 40 5,325
Anthony Ferrara, Capital 30 5,325
To closed income summary
account
Sept. 30 Anthony Ferrara, Capital 30 2,000
Anthony Ferrara, Drawing 35 2,000
To closed Anthony's, Drawing
accoun
 Tony's Rental
CLOSING GENERAL LEDGER
For the Month of September
Rental Fees Earned
DATE PARTICULAR P/R DEBIT $ DATE
Sept. 30 Income Summary 40 19,890 Sept. 30

19,890
Oct. 1
Salaries Expense
DATE PARTICULAR P/R DEBIT $ DATE
Sept. 30 Balance b/f 8,100 Sept. 30

8,100
Oct. 1
Maintenance Expense
DATE PARTICULAR P/R DEBIT $ DATE
Sept. 30 Balance b/f 340 Sept. 30

340
Oct. 1
Utilities Expense
DATE PARTICULAR P/R DEBIT $ DATE
Sept. 30 Balance b/f 270 Sept. 30

270
Oct. 1
Rent Expense
DATE PARTICULAR P/R DEBIT $ DATE
Sept. 30 Balance b/f 3,000 Sept. 30

3,000
Oct. 1
Office Supplies Expense
DATE PARTICULAR P/R DEBIT $ DATE
Sept. 30 Balance b/f 530 Sept. 30
 530
Oct. 1
Depreciation Expense – R. Equip.
DATE PARTICULAR P/R DEBIT $ DATE
Sept. 30 Balance b/f 1,500 Sept. 30

1,500
Oct. 1
Interest Expense
DATE PARTICULAR P/R DEBIT $ DATE
Sept. 30 Balance b/f 825 Sept. 30

825
Oct. 1
Income Summary
DATE PARTICULAR P/R DEBIT $ DATE
Sept. 30 Salaries Expense 60 8,100 Sept. 30
Sept. 30 Maintenance Expense 61 340
Sept. 30 Utilities Expense 62 270
Sept. 30 Rent Expense 63 3,000
Sept. 30 Office Supplies Expense 64 530
Sept. 30 Expense – R. Equip. 65 1,500
Sept. 30 Interest Expense 66 825
Sept. 30 Anthony Ferrara, Capital 30 5,325

19,890
Oct. 1
Anthony Ferrara, Drawing
DATE PARTICULAR P/R DEBIT $ DATE
Sept. 30 Balance b/f 2,000 Sept. 30

2,000
Oct. 1
Anthony Ferrara, Capital
DATE PARTICULAR P/R DEBIT $
 Anthony Ferrara, Drawing
Sept. 30 35 2,000

Sept. 30 Balance c/f 103,325

105,325
Tony's Rental
G GENERAL LEDGER
Month of September
153
PARTICULAR P/R CREDIT $
Balance b/f 19,890

19,890
Balance b/f -
163
PARTICULAR P/R CREDIT $
Income Summary 40 8,100

8,100
Balance b/f -
162
PARTICULAR P/R CREDIT $
Income Summary 40 340

340
Balance b/f -
124
PARTICULAR P/R CREDIT $
Income Summary 40 270

270
Balance b/f -
121
PARTICULAR P/R CREDIT $
Income Summary 40 3,000

3,000
Balance b/f -
Supplies Expense 111
PARTICULAR P/R CREDIT $
Income Summary 40 530
 530
Balance b/f -
. Equip. 231
PARTICULAR P/R CREDIT $
Income Summary 40 1,500

1,500
Balance b/f -
222
PARTICULAR P/R CREDIT $
Income Summary 40 825

825
Balance b/f -
125
PARTICULAR P/R CREDIT $
Rental Fees Earned 50 19,890

19,890
Balance b/f -
wing 234
PARTICULAR P/R CREDIT $
Capital 30 2,000

2,000
Balance b/f -
rara, Capital 321
DATE PARTICU P/R CREDIT
LAR $
 Balance
Sept. 30 100,000
b/f

Income
Sept. 30 40 5,325
Summary

105,325
Oct. 1 Balance 103,325
b/f
 Tony's Rental
CLOSING TRIAL BALANCE
For the Month of September
COA ACCOUNT NAME DEBIT $ CREDIT $
10 Cash 32,720
20 Account Receivable 1,090
21 Prepaid Rent 6,000
23 Unexpired Insurance 2,700
25 Office Supplies 1,100
65 Rental Equipment 180,000
76 Accumulated Dep. – R. Equip. 1,500
87 Notes Payable 110,000
98 Account Payable 1,900
9 Interest Payable 825
12 Salaries Payable 900
43 Unearned Rental Fee 5,160
321 Anthony Ferrara, Capital 103,325

TOTAL 223,610 223,610

CREDIT $

1,500
110,000
1,900
825
900
5,160
103,325

223,610