Washy Wash Inc.

Chart of Accounts
30-Apr-12
Account Account Title Account Account Title
Number Number

ASSETS INCOME
101 Cash 423 Laundry Revenue
114 Accounts Receivable
128 Laundry Supplies
129 Delivery Vehicle
156 Laundry Equipment EXPENSES
515 Salaries and Wages
Expense
LIABILITIES 519 Utilities Expense
203 Accounts Payable 520 Insurance Expense
209 Unearned Revenue

PROPRIETORSHIP
301 Jean Garces, Capital
303 Jean Garces, Drawing
DATE ACCOUNT TITLE & EXPLANATION PR/F DEBIT
2012
6-Jul Cash 101P 950.00
Accounts Receivable 114 P 950.00
To record receipt of cash from customers on account

11 Accounts Receivable 114 4,350.00

Laundry Revenue 423
To record services performed on account

13 Salaries and Wages Expense 515 2,400.00

Cash 101
To record payment of salaries and wages

17 Unearned Revenue 209 620.00

Laundry Revenue 423
To record service performed paid in advance

20 Accounts Payable 203 2,300.00

Cash 101
To record payment of accounts

23 Cash 101 450.00

Laundry Revenue 423
To record receipt of cash for services performed

27 Laundry Supplies 128 350.00

Accounts Payable 203
To record purchase of supplies on account

29 Jean Garces, Drawing 303 600.00

Cash 101
To record withdrawal of cash for personal use

30 Utilities Expense 519 900.00

Insurance Expense 520 550.00
Cash 101
To record payment of utilities and insurance

31 Delivery Vehicle 129 38,000.00

Cash 101
To record purchase of delivery vehicle
 Page 1
CREDIT

P 950.00

4,350.00

2,400.00

620.00

2,300.00

450.00

350.00

600.00

1,450.00

38,000.00
Cash 101
Date Explanation PR Debit Credit Balance
Beginning Balance P 8,750.00
6-Jul Collections 101 P 950.00 9,700.00
13-Jul Payment of expenses 101 P 2,400.00 7,300.00
20-Jul Payment of accounts 101 2,300.00 5,000.00
23-Jul Collections 101 450.00 5,450.00
29-Jul Withdrawals 101 600.00 4,850.00
30-Jul Payment of expenses 101 1,450.00 3,400.00
TOTAL 3,400.00

Accounts Receivable 114

Date Explanation PR Debit Credit Balance
Beginning Balance P 2,320.00
6-Jul Collection 114 P 950 1,370.00
11-Jul Services on account 114 P 4350 5,720.00
TOTAL P 5,720.00

Laundry Supplies 128

Date Explanation PR Debit Credit Balance
Beginning Balance P 1,900.00
27-Jul Purchase on account 128 P 350 2,250.00
TOTAL P 2,250.00

Delivery Vehicle 129

Date Explanation PR Debit Credit Balance
31-Jul Purchase of delivery vehicle 129 P 38,000
TOTAL P 38,000.00

Laundry Equipment 156

Date Explanation PR Debit Credit Balance
Beginning Balance P 9000
TOTAL P 9000
Income Summary
Date Explanation PR Debit Credit Balance
31-Jul Closing Income Accounts 5,420 5,420
31-Jul Closing Expense Account 2,400.00 3,020.00
31-Jul Closing Expense Account 900.00 2,120.00
31-Jul Closing Expense Account
31-Jul

TOTAL
Accounts Payable 203
Date Explanation PR Debit Credit Balance
Beginning Balance P 5,500.00
20-Jul Payment of accounts 203 P 2300 3,200.00
27-Jul Purchase on account 203 P 350 3,550.00
31-Jul Purchase of delivery vehicle 38,000.00 41,550.00
TOTAL P 41,550.00

Unearned Revenue 209

Date Explanation PR Debit Credit Balance
Beginning Balance P 800
17-Jul Services paid in advance 209 P620 180.00
TOTAL P 180

Jean Garces, Capital 301

Date Explanation PR Debit Credit Balance
Beginning Balance P 15,670.00
TOTAL P 15,670.00
31-Jul Closing P 5,420.00 P 21,090.00
31-Jul Closing P 600 P 20,490.00
TOTAL P 20,490.00

Jean Garces, Drawing 303

Date Explanation PR Debit Credit Balance
29-Jul Withdrawals 303 P 600
TOTAL P 600
31-Jul Closing P600 O

Laundry Revenue 423

Date Explanation PR Debit Credit Balance
11-Jul Services on account 423 P 4,350 P 4,350.00
17-Jul Services paid in advance 423 620.00 4,970.00
23-Jul Services performed 423 450.00 5,420.00
TOTAL 5,420.00
31-Jul Closing 5,420 O

Salaries and Wages Expense 515

Date Explanation PR Debit Credit Balance
 13-Jul Payment of expenses 515 P 2400 P 2400
TOTAL P 2400
31-Jul Closing 2,400.00 O

Utilities Expense 519

Date Explanation PR Debit Credit Balance
30-Jul Payment of expenses 519 P 900 P 900
TOTAL P 900
31-Jul Closing 900.00 O

Insurance Expense 520

Date Explanation PR Debit Credit Balance
30-Jul Payment of expenses 520 550.00 550.00
TOTAL 550.00
31-Jul Closing 550.00 O
 Washy Wash Inc.
Trial Balance
30-Apr-12
Account Account Title Debit Credit
Number
101 Cash P 3,400.00
114 Accounts Receivable 5,720.00
128 Laundry Supplies 2,250.00
129 Delivery Vehicle 38,000.00
156 Laundry Equipment 9,000.00
203 Accounts Payable P 41,550.00
209 Unearned Revenue 180.00
301 Jean Garces, Capital 15,670.00
303 Jean Garces, Drawing 600.00
423 Laundry Revenue 5,420.00
515 Salaries and Wages Expense 2,400.00
519 Utilities Expense 900.00
520 Insurance Expense 550.00

TOTALS P 62,820.00 P 62,820.00

 Washy Wash Inc.
Income Statement
For the Month Ended July 31, 2012
Revenue:
Laundry Revenue 5,420.00

Less Operating Expenses:

Salaries and Wages Expense 2,400.00
Utilities Expense 900.00
Insurance Expense 550.00 3,850.00

Net Income 1,570.00

 Washy Wash Inc.
Statement of Changes in Owner's Equity
For the Month Ended July 31, 2012
Jean Garces, Capital - Beginning 15,670.00
Add:
Net Income 1,570.00
Additional Investment 0.00 1,570.00
TOTAL 17,240.00
Less:
Net Loss 0.00
Jean Garces, Drawing 600.00 600.00
Jean Garces, Capital - Ending 16,640.00
 Washy Wash Inc.
Balance Sheet
For the Month Ended July 31, 2012
ASSETS LIABILITIES & OWNERS
Current Assets LIABILITIES
Cash 3,400.00 Current Liabilities
Accounts Receivable 5,720.00 Accounts Payable
Laundry Supplies 2,250.00 Unearned Revenue

Total Current Assets 11,370.00 Total Current Liabilities

Total Liabilities
Non Current Assets OWNERS EQUITY
Delivery Vehicle 38,000.00 Jean Garces, Capital
Laundry Equipment 9,000.00
Total Liabilities & Owners Equity
Total Non Current Assets 47,000.00
Total Assets 58,370.00
12
IABILITIES & OWNERS EQUITY
LIABILITIES

41,550.00
180.00

41,730.00
41,730.00
OWNERS EQUITY
16,640.00

58,370.00
 Page 1
DATE ACCOUNT TITLE & EXPLANATION PR/F DEBIT CREDIT
2012
31-Jul Laundry Revenues P 5,400
Income Summary P 5,400
To close Revenue Account

31-Jul Income Summary 3,850.00

Salaries and Wages Expense 2,400.00
Utilities Expense 900.00
Insurance Expense 550.00
To close Expense Accounts

31-Jul Income Summary 1,570.00

Jean Garces, Capital 1,570.00
To close Income Summary Account

31-Jul Jean Garces, Capital 600.00

Jean Garces, Drawing 600.00
To close withdrawal Account
Cash 101
Date Explanation PR Debit Credit Balance
Beginning Balance P 8,750.00
6-Jul Collections 101 P 950.00 9,700.00
13-Jul Payment of expenses 101 P 2,400.00 7,300.00
20-Jul Payment of accounts 101 2,300.00 5,000.00
23-Jul Collections 101 450.00 5,450.00
29-Jul Withdrawals 101 600.00 4,850.00
30-Jul Payment of expenses 101 1,450.00 3,400.00
TOTAL 3,400.00

Accounts Receivable 114

Date Explanation PR Debit Credit Balance
Beginning Balance P 2,320.00
6-Jul Collection 114 P 950 1,370.00
11-Jul Services on account 114 P 4350 5,720.00
TOTAL P 5,720.00

Laundry Supplies 128

Date Explanation PR Debit Credit Balance
Beginning Balance P 1,900.00
27-Jul Purchase on account 128 P 350 2,250.00
TOTAL P 2,250.00

Delivery Vehicle 129

Date Explanation PR Debit Credit Balance
31-Jul Purchase of delivery vehicle 129 P 38,000
TOTAL P 38,000.00

Laundry Equipment 156

Date Explanation PR Debit Credit Balance
Beginning Balance P 9000
TOTAL P 9000
Income Summary

Date Explanation PR Debit Credit Balance

31-Jul Closing of revenue 423 P 5,420.00 P 5,420.00
31-Jul Closing of expenses 515 P 2, 400.00 P 3,020.00
31-Jul Closing of expenses P 900 P 2,120.00
31-Jul Closing of expenses P 550 P 1,570
31-Jul Closing Income Summary P 1,570 P0
TOTAL P0
Accounts Payable 203
Date Explanation PR Debit Credit Balance
Beginning Balance P 5,500.00
20-Jul Payment of accounts 203 P 2300 3,200.00
27-Jul Purchase on account 203 P 350 3,550.00
31-Jul Purchase of delivery vehicle 38,000.00 41,550.00
TOTAL P 41,550.00

Unearned Revenue 209

Date Explanation PR Debit Credit Balance
Beginning Balance P 800
17-Jul Services paid in advance 209 P620 180.00
TOTAL P 180

Jean Garces, Capital 301

Date Explanation PR Debit Credit Balance
Beginning Balance P 15,670.00
TOTAL P 15,670.00
31-Jul Closing P 5,420.00 P 21,090.00
31-Jul Closing P 600 P 20,490.00
TOTAL P 20,490.00

Jean Garces, Drawing 303

Date Explanation PR Debit Credit Balance
29-Jul Withdrawals 303 P 600
TOTAL P 600
31-Jul Closing of withdrawal account P 600

TOTAL P 0.00

Laundry Revenue 423

Date Explanation PR Debit Credit Balance
11-Jul Services on account 423 P 4,350 P 4,350.00
17-Jul Services paid in advance 423 620.00 4,970.00
23-Jul Services performed 423 450.00 5,420.00
TOTAL 5,420.00
31-Jul Closing of revenue P 5420

TOTAL P 0.00

Salaries and Wages Expense 515

Date Explanation PR Debit Credit Balance
 13-Jul Payment of expenses 515 P 2400 P 2400
TOTAL P 2400
Closing of salaries and wages
31-Jul expense P 2400

TOTAL P 0.00

Utilities Expense 519

Date Explanation PR Debit Credit Balance
30-Jul Payment of expenses 519 P 900 P 900
TOTAL P 900
31-Jul Closing of utilities expense P 900

TOTAL P 0.00

Insurance Expense 520

Date Explanation PR Debit Credit Balance
30-Jul Payment of expenses 520 550.00 550.00
TOTAL 550.00
31-Jul Closing of insurance expense 550.00

TOTAL P 0.00
 Washy Wash Inc.
Post Closing Trial Balance
For the Month Ended July 31, 2012
Account Account Title Debit Credit
Number
101 Cash 3,400.00
114 Accounts Receivable 5,720.00
128 Laundry Supplies 2,250.00
129 Delivery Vehicle 38,000.00
156 Laundry Equipment 9,000.00
203 Accounts Payable 41,550.00
209 Unearned Revenue 180.00
301 Jean Garces, Capital 16,640.00

TOTALS 58,370.00 58,370.00