GENERAL JOURNAL Page 1

P3.5
Date Account Titles and Explanation P.R. Debit Credit
Entries during the month
Nov-08 Salaries Expense 1000
Salaries Payable 700
Cash 1700
Paid cash for salaries in October and November

Nov-10 Cash 3620

Accounts Receivable 3620
Cash collection from receivables
Nov-12 Cash 4970
Service Revenue 4970
Received cash for service performed

Nov-15 Equipment 2000

Accounts Payable 2000
Purchased equipment on account

Nov-17 Supplies 700

Accounts Payable 700
Purchased supplies on account
Nov-20 Accounts Payable 2700
Cash 2700
Cash payment for creditors on account

Nov-22 Rent expense 1270

Cash 1270
Rent payment

Nov-25 Salaries Expense 2570

Cash 2570
Salaries payment

Nov-27 Accounts Receivable 4070

Service Revenue 4070
Service performed on account

Nov-29 Cash 600

Unearned Service Revenue 600
 Received cash for future service

GENERAL JOURNAL Page 2

Date Account Titles and Explanation P.R. Debit Credit

Adjusted entries
Nov-30 Supplies Expense 1100
Supplies 1100
Allocate proper Supplies expenses

Nov-30 Salaries Expense 350

Salaries Payable 350
Adjust proper Salaries expenses

Nov-30 Depreciation Expense 200

Accumulated Depreciation 200
Allocate proper Depreciation Expense

Nov-30 Unearned Service Revenue 1220

Service Revenue 1220
Allocate proper Service revenue
CASH CODE: 101
DATE EXPLANTION PR Debit Credit Balance
Nov-01 Opening balance 4,270
Nov-08 Paid cash for salaries in October and November G1 1,700 2,570
Nov-10 Cash collection from receivables G1 3,620 6,190
Nov-12 Received cash for service performed G1 4,970 11,160
Nov-20 Cash payment for creditors on account G1 2,700 8,460
Nov-22 Rent payment G1 1,270 7,190
Nov-25 Salaries payment G1 2,570 4,620
Nov-29 Received cash for future service G1 600 5,220

SUPPLIES CODE: 126

DATE EXPLANTION PR Debit Credit Balance
Nov-01 Opening balance 1800
Nov-17 Purchased supplies on account G1 700 2500

ACCUMULATED DEPRECIATION - EQUIPMENT CODE: 154

DATE EXPLANTION PR Debit Credit Balance
Nov-01 Opening balance 2000
SALARIES PAYABLE CODE: 209
DATE EXPLANTION PR Debit Credit Balance
Nov-01 Opening balance 700
Nov-08 Paid cash for salaries in October and November G1 700 0

SHARE CAPITAL CODE: 311

DATE EXPLANTION PR Debit Credit Balance
Nov-01 Opening balance 11,000
SERVICE REVENUE CODE: 403
DATE EXPLANTION PR Debit Credit Balance
Nov-12 Received cash for service performed G1 4970 4970
Nov-27 Service performed on account G1 4070 9040

RENT EXPENSE CODE: 640

DATE EXPLANTION PR Debit Credit Balance
Nov-22 Rent payment G1 1270 1270
ACCOUNTS RECEIVABLE CODE: 106
DATE EXPLANTION PR Debit Credit
Nov-01 Opening balance
Nov-10 Cash collection from receivables G1 3,620
Nov-27 Service performed on account G1 4,070

EQUIPMENT CODE: 167

DATE EXPLANTION PR Debit Credit
Nov-01 Opening balance
Nov-15 Purchased equipment on account G1 2,000

ACCOUNT PAYABLE CODE: 201

DATE EXPLANTION PR Debit Credit
Nov-01 Opening balance
Nov-15 Purchased equipment on account G1 2,000
Nov-17 Purchased supplies on account G1 700
Nov-20 Cash payment for creditors on account G1 2700
UNEARNED SERVICE REVENUE CODE: 236
DATE EXPLANTION PR Debit Credit
Nov-01 Opening balance
Nov-29 Received cash for future service G1 600

RETAINED EARNING CODE: 318

DATE EXPLANTION PR Debit Credit
Nov-01 Opening balance
SALARIES EXPENSE CODE: 622
DATE EXPLANTION PR Debit Credit
Nov-08 Paid cash for salaries in October and November G1 1000
Nov-25 Salaries payment G1 2570

DATE EXPLANTION PR Debit Credit

CODE: 106
Balance
4250
630
4,700

CODE: 167
Balance
12000
14,000

CODE: 201
Balance
2600
4,600
5,300
2,600
CODE: 236
Balance
1200
1800

CODE: 318
Balance
4,820
CODE: 622
Balance
1000
3570

Balance
 Unadjusted TB
Account titles
Debit Credit
Cash 5,220
Accounts Receivable 4,700
Supplies 2,500
Equipment 14,000
Accumulated Depreciation - Equipment* 2,000
Account Payable 2,600
Salaries Payable -
Unearned Service Revenue 1,800
Share Capital 11,000
Retained Earnings 4,820
INCOME SUMMARY
Service revenue 9,040
Depreciation expense
Salaries expense 3,570
Rent expense 1,270
Supplies expense
Sub total 31,260 31,260
NET INCOME (PROFIT OR LOSS)
FINAL TOTAL

Beck Equipment Repair

Income statement
For the month ended November 30,
Service revenue
Depreciation expense
Salaries expense
Rent expense
Supplies expense
Net income
 Adjustments (3) Adjusted TB (4) Income statement (5)
Debit Credit Debit Credit Debit Credit
5,220
4,700
1,100 1,400
14,000
200 2,200
2,600
350 350
1,220 580
11,000
4,820

1,220 10,260 10,260

200 200 200
350 3,920 3,920
1,270 1,270
1,100 1,100 1,100
2,870 2,870 31,810 31,810 6,490 10,260
3,770
10,260 10,260

Beck Equipment Repair Beck Equipment Repair

Income statement Retained earnings statement
month ended November 30, 2020 For the month ended November 30, 2020
10,260 Retained earning, opening
on expense 200 Plus:
3,920 Net income
nse 1,270 Less:
1,100 Dividends
me 3,770 Bonus issues
Treasury shares
Retained earning, ending
 SFP&Changes in RE (6) Closing entries (7) Post-closing TB (8)
Debit Credit Debit Credit Debit
5,220 5,220
4,700 4,700
1,400 1,400
14,000 14,000
2,200
2,600
350
580
11,000
4,820 3,770
6,490 10,260
3,770
10,260
200
3,920
1,270
1,100
25,320 21,550 20,520 20,520 25,320
3,770
25,320 25,320

uipment Repair Beck Equipment Repair

arnings statement Statement of financial position
nded November 30, 2020 At the month ended November 30, 2020
4,820 Asset
Cash
3,770 Accounts Receivable
Supplies
Equipment
0 Accumulated Depreciation
0 Total asset
8,590
Liabilities
Account Payable
Salaries Payable
Unearned Service Revenue
Equity
Share capital
Retained earning
Total liabilities & equity
ost-closing TB (8)
Credit

2,200
2,600
350
580
11,000
8,590

25,320

ment Repair Beck Equipment Repair

ancial position Post-closing TB
November 30, 2020 At the month ended November 30, 2020
Cash 5,220
5,220 Accounts Receivable 4,700
4,700 Supplies 1,400
1,400 Equipment 14,000
14,000 Accumulated Depreciation - Equipment*
(2,200) Account Payable
23,120 Salaries Payable
Unearned Service Revenue
Share Capital
2,600 Retained Earnings
350 Total 25,320
580
11,000
8,590
23,120
r

30, 2020

2,200
2,600
350
580
11,000
8,590
25,320