This time I have three requirement
1.Make a journal
2. Create a Ledger
3. Build a Trial Balance
Ans 1. Journal Entries | |||
Date | Account Title | Dr $ | Cr $ |
Mar 1. | Cash | 50,000 | |
Office Equipment | 12,000 | ||
Common Equity | 62,000 | ||
March 3. | Office Equipment | 6,000 | |
Office Supplies | 1,200 | ||
Accounts Payable | 7,200 | ||
March 5. | Cash | 6,200 | |
Service Revenue | 6,200 | ||
March 9. | Accounts Receivable | 4,000 | |
Service Revenue | 4,000 | ||
March 11. | Accounts Payable | 7,200 | |
Cash | 7,200 | ||
Mar 20. | Cash | 1,500 | |
Accounts Receivable | 1,500 | ||
Mar 23. | Accounts Receivable | 2,850 | |
Service Revenue | 2,850 | ||
Mar 27. | Drawings | 3,600 | |
Cash | 3,600 | ||
Mar 30. | Office Equipment | 650 | |
Accounts Payable | 650 | ||
Mar 31. | Utilities Expense | 860 | |
Cash | 860 |
Ans 2. Ledgers | ||||
Cash | ||||
Date | Details | Dr | Cr | Bal |
Mar 1. | Investment | 50000 | ||
Mar 5. | Sales | 6200 | ||
Mar 11. | Paid to settle AP | 7200 | ||
Mar 20. | Partial receipt AR | 1500 | ||
Mar 27. | Drawings | 3600 | ||
Mar 31. | Utilities payment | 860 | ||
Ending Valance | 57700 | 11660 | 46040 |
Common Equity | ||||
Date | Details | Dr | Cr | Bal |
Mar 1. | Investment | 62000 | ||
Ending Valance | 0 | 62000 | 62000 |
Office Equipment | ||||
Date | Details | Dr | Cr | Bal |
Mar 1. | Investment | 12000 | ||
Mar 3. | on a/c | 6000 | ||
Mar 30. | on a/c | 650 | ||
Ending Valance | 18650 | 0 | 18650 |
Accounts Payable | ||||
Date | Details | Dr | Cr | Bal |
Mar 3. | Office Equipment | 6000 | ||
Office supplies | 1200 | |||
Mat 11 | Cash | 7200 | ||
Mar 30. | Office equipment | 650 | ||
Ending Valance | 7200 | 7850 | 650 |
Office supplies | ||||
Date | Details | Dr | Cr | Bal |
March 3. | on a/c | 1200 | ||
Ending Valance | 1200 | 0 | 1200 |
Service Revenue | ||||
Date | Details | Dr | Cr | Bal |
Mar 5. | Cash revenue | 6200 | ||
Mar 9. | on a/c sales | 4000 | ||
Mar 23. | on a/c sales | 2850 | ||
Ending Valance | 0 | 13050 | 13050 |
Accounts Receivable | ||||
Date | Details | Dr | Cr | Bal |
Mar 9. | Sales | 4000 | ||
Mar 20. | Cash | 1500 | ||
Mar 23. | Sales | 2850 | ||
Ending Valance | 6850 | 1500 | 5350 |
Utilities Expense | ||||
Date | Details | Dr | Cr | Bal |
Mar 31. | Paid by cash | 860 | ||
Ending Valance | 860 | 0 | 860 |
Drawings | ||||
Date | Details | Dr | Cr | Bal |
27-Mar | Cash | 3600 | ||
Ending Valance | 3600 | 0 |
360 |
Trial Balance | ||
As on March 31. | ||
Accounts | Dr $ | Cr $ |
Cash | 46,040 | |
Common Equity | 62,000 | |
Office Equipment | 18,650 | |
Accounts Payable | 650 | |
Office Supplies | 1,200 | |
Service Revenue | 13,050 | |
Accounts Receivable | 5,350 | |
Utilities Expense | 860 | |
Drawings | 3,600 | |
75,700 | 75,700 |
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