GENERAL JOURNAL Page 1

Date Account Titles and Explanation P.R. Debit Credit

1-Mar Cash 15478
Share capital-Ordinary 15478
Share holders invested in the company

1-Mar Cash 6000

Notes Payable 6000
Borrowed cash

1-Mar Equipment 8478

Cash 8478
Purchased used truck

2-Mar Prepaid Rent 1500

Cash 1500
Paid cash to cover rent from March through May

3-Mar Prepaid insurance 2400

Cash 2400
Paid cash on a 6-month insurance policy

6-Mar Supplies 2478

Accounts Payable 2478
Purchased cleaning supplies on account

14-Mar Accounts Receivable 4178

Service Revenue 4178
Billed customers for services performed

18-Mar Accounts Payable 500

Cash 500
Paid amount owened on cleaning supplies

20-Mar Salaries and Wages expense 1750

Cash 1750
Paid cash for employees salaries

GENERAL JOURNAL Page 2

 Date Account Titles and Explanation P.R. Debit Credit
21-Mar Cash 1600
Accounts Receivable 1600
Collected cash from customer billed on March 14

28-Mar Accounts receivable 4678

Service revenue 4678
Billed customers for service performed

31-Mar Maintenance and Repairs expense 350

Cash 350
Paid for gas and oil used in truck

Dividends 978
Cash 978
Declare and paid dividends

Accounts receivable 200

Service revenue 200
Service performed but unbilled and uncollected

Depreciation expense 250

Accumulated depreciation-Equipment 250
To record depreciation

Insurance expense 400

Prepaid Insurance 400
To record insurance expired

Supplies expense 2198

Supplies 2198
To record supplies used

Salaries and Wages expense 1080

Salaries and Wages payable 1080
To record accrued salaries and wages

GENERAL JOURNAL Page 3

Date Account Titles and Explanation P.R. Debit Credit

Interest expense 30
Interest payable 30
 To record accrued interest expense

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Date Account Titles and Explanation P.R. Debit Credit

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Date Account Titles and Explanation P.R. Debit Credit

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Date Account Titles and Explanation P.R. Debit Credit

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Date Account Titles and Explanation P.R. Debit Credit

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Date Account Titles and Explanation P.R. Debit Credit

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Date Account Titles and Explanation P.R. Debit Credit

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Date Account Titles and Explanation P.R. Debit Credit

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Date Account Titles and Explanation P.R. Debit Credit

7122
 Unadjusted TB Adjustments
Account titles Debit Credit Debit
Cash 7,122
Accounts Receivable 7,256 200
Supplies 2,478
Prepaid Insurance 2,400
Prepaid Rent 1,500
Equipment 8,478
Accumulated Depreciation-Equipment
Accounts Payable 1,978
Salaries and Wages Payable
Notes Payable 6,000
Interest Payable
Share Capital-Ordinary 15,478
Dividends 978
Retained Earnings
INCOME SUMMARY

Service Revenue 8,856

Maintenance and Repairs Expense 350
Supplies Expense 2,198
Insurance Expense 400
Salaries and Wages Expense 1,750 1,080
Depreciation Expense 250
Rent Expense 500
Interest Expense 30
SUB TOTAL 32,312 32,312 4,658
NET INCOME/LOSS
FINAL TOTAL

INCOME STATEMENT
 LARS LINKEN
FOR THE MONTH ENDED MARCH 31
Service revenue
Maintenance and Repairs Expense
Supplies Expense
Insurance Expense
Salaries and Wages Expense
Depreciation Expense
Rent Expense
Interest Expense

RETAINED EARNINGS STATEMENT

LARS LINKEN
FOR THE MONTH ENDED MARCH 31
RE, opening
Plus:
Net income
Minus:
Dividends
RE, ending
 WORKSHEET

Adjustments Adjusted TB Income statement BS and Stmt Of Owner’s Eq

Credit Debit Credit Debit Credit Debit
7,122 7,122
7,456 7,456
2,198 280 280
400 2,000 2,000
500 1,000 1,000
8,478 8,478
250 250
1,978
1,080 1,080
6,000
30 30
15,478
978 978

200 9,056 9,428

350 350
2,198 2,384
400 400
2,830 2,830
250 250
500 500
30 30
4,658 33,872 33,872 6,744 9,428
2,684
9,428 9,428 27,314

STATEMENT STATEMENT OF FINANCIAL P

 LINKEN LARS LINKEN
H ENDED MARCH 31 AT THE MONTH ENDED MA
9,056 ASSETS:
350 Non-current assets:
2,198 Equipment
400 Accumulated depreciation-equipment
2,830 Current assets:
250 Cash
500 Accounts receivable
30 Supplies
2,498 Prepaid Insurance
Prepaid Rent
Total assets
NINGS STATEMENT EQUITY AND LIABILITIES
LINKEN Share capital
H ENDED MARCH 31 RE
0 Accounts payable
Salaries and Wages payable
2,498 Notes Payable
Interest payable
978 Total E&L
1,520
d Stmt Of Owner’s Equity Closing entries Post-closing TB
Credit Debit Credit Debit Credit
7,122
7,456
280
2,000
1,000
8,478
250 250
1,978 1,978
1,080 1,080
6,000 6,000
30 30
15,478 15,478
978
2,684 2,684
6,558 9,428
2,684
9,242
350
2,198
400
2,830
250
500
30
27,314 27,500
2,684
27,500

ENT OF FINANCIAL POSITION POST-CLOSING TB

 LARS LINKEN LARS LINKEN
MONTH ENDED MARCH 31 FOR THE MONTH ENDED MARCH 31
Cash 7,122
Accounts receivable 7,456
8,478 Supplies 280
tion-equipment (250) Prepaid Insurance 2,000
Prepaid rent 1,000
7,122 Equipment 8,478
7,456 Accumulated depreciation-e
280 Accounts payable
2,000 Salaries and wages payable
1,000 Notes payable
26,086 Interest payable
ES Dividends 978
15,478 Share capital
1,520 Retained earning
1,978 TOTAL 27,314
yable 1,080
6,000
30
26,086
 Dr Service revenue 9,428
Cr Income summary 9,428

Dr Income summary 6,744

Cr Maintenance and Repairs expense 350
Cr Supplies expense 2,384
Cr Insurance expense 400
Cr Salaries and Wages expense 2,830
Cr Depreciation expense 250
Cr Rent expense 500
Cr Interest expense 30

Dr Income summary 2,684

Cr Retained earnings 2,684

Dr Retained earnings 978

Cr Dividends 978

ST-CLOSING TB
ARS LINKEN
NTH ENDED MARCH 31
7,122
7,456
280
2,000
1,000
8,478
250
1,978
1,080
6,000
30
978
15,478
2,684
27,314 27,500
 Trial Balance

Debit Credit
Cash 7,122
Accouts Receivable 7,256
Supplies 2,478
Prepaid Insurance 2,400
Prepaid Rent 1,500
Equipment 8,478
Accounts Payable 1,978
Notes Payable 6,000
Share Capital-Ordinary 15,478
Dividends 978
Service Revenue 8,856
Maintenance and Repairs Expense 350
Salaries and Wages Expense 1,750
TOTAL 32,312 32,312

Trial Balance

Debit Credit
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