Scribd
Upload
59 views16 pages

Trial Balance Sample

The document outlines the journal entries for Blank Company for January 201A, detailing various transactions including capital investments, expenses, and revenues. It includes a breakdown of assets, liabilities, owner's equity, revenue, and expenses, culminating in a net income calculation. The total transactions amount to 8,291,420 with a net income of 1,210,000.

Uploaded by

Amanda Kolin
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as XLSX, PDF, TXT or read online on Scribd
59 views16 pages

Trial Balance Sample

The document outlines the journal entries for Blank Company for January 201A, detailing various transactions including capital investments, expenses, and revenues. It includes a breakdown of assets, liabilities, owner's equity, revenue, and expenses, culminating in a net income calculation. The total transactions amount to 8,291,420 with a net income of 1,210,000.

Uploaded by

Amanda Kolin
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as XLSX, PDF, TXT or read online on Scribd

BLANK COMPANY

Journal Entry
January 201A

01 Jan.

06 Jan.

09 Jan.

09 Jan.

15 Jan.

16 Jan.

21 Jan.

24 Jan.

24 Jan.

27 Jan.
30 Jan.

31 Jan.
BLANK COMPANY
Journal Entry
January 201A

PARTICULARS DEBIT

Cash 3,000,000
Capital
To record investment capital into the business

Utilities Expense 300,000


Cash
To record payment for utilities

Rent Expense 400,000


Cash
To record payment for rent

Inventory Expense 1,000,000


Cash
To record expenses to transport inventory

Salaries Expense 40,000


Cash
To record payment for salaries

C. Seechua, Drawing 500,000


Cash
To record drawing of Seechua for personal use

Gas Expense 10,000


Cash
To record payment for gas

Cash 1,000,000
Accounts Payable
To record service rendered for a company to pay

Cash 89,000
Service Revenue

Cash 125,000
Professional Fees

Cash 2,000,000
Service Revenue
To record service revenue rendered
Cash 1,500,000
Interest Revenue
To record interest rendered

Accounts Receivable 500,000


Sale On Credit
To record accounts recievable

Cash 1,050,000
Accounts Payable
To record service rendered for a company to pay
CREDIT

3,000,000

300,000

400,000

1,000,000

40,000

500,000

10,000

1,000,000

89,000

125,000

2,000,000
1,500,000

500,000

1,050,000
DEBIT CREDIT
ASSET
Cash 3,000,000
Utilities Expense -300,000
Rent Expense -400,000
Inventory 1,000,000
Salaries Expense -40,000
Drawing -500,000
Gasoline Expense -10,000
Cash 1,050,000
Cash 2,000,000
Cash 1,500,000
Account Receivable 500,000
Cash -1,000,000
Service Revenue 89,000
Professional Fees 125,000
TOTAL: 7,014,000

LIABILITIES
Account Payable 1,050,000
Account Payable -1,000,000
TOTAL: 50,000

OWNER'S EQUITY
Capital 3,000,000
Utilities Expense -300,000
Rent Expense -400,000
Inventory 1,000,000
Salaries Expense -40,000
Drawing -500,000
Gasoline Expense -10,000
Service Revenue 2,000,000
Interest Revenue 1,500,000
Sale on Credit 500,000
Service Revenue 89,000
Professional Fees 125,000
TOTAL: 6,964,000

TOTAL: 7,014,000
REVENUE
Sales Revenue 2,000,000
Interest Revenue 1,500,000
Service Revenue 89,000
Professional Fees 125,000
Total: 3,714,000

EXPENSES
Utilities Expense 300,000
Rent Expense 400,000
Salaries Expense 40,000
Gasoline Expense 10,000
Total: 750,000

TOTAL: 2,750,000
PARTICULARS DEBIT CREDIT

Supplies Expense 150,000


Cash 150,000

Cash 320,000
Capital 320,000

Account Receivable 100,000


Capital 100,000

Cash 95,800
Miscellaneous Expense 95,800

Cash 44,000
Notes Payable 44,000

Cash 470,000
Sales Revenue 470,000

Cash 92,000
Miscellaneous Expense 92,000

Cash 100,000
Miscellaneous Expense 100,000

Supplies Expense 208,000


Cash 208,000

Cash 96,000
Sales on Credit 96,000
DEBIT CREDIT
ASSET
Cash 3,000,000
Utilities Expense -300,000
Rent Expense -400,000
Inventory 1,000,000
Salaries Expense -40,000
Drawing -500,000
Gasoline Expense -10,000
Cash 1,050,000
Cash 2,000,000
Cash 1,500,000
Account Receivable 500,000
Cash -1,000,000
Cash -150,000
Cash 320,000
Account Receivable 100,000
Miscellaneous Expense -95,800
Cash -44,000
Cash 470,000
Cash 92,000
Cash 100,000
Supplies Expense -208,000
Cash 96,000
TOTAL: 7,480,200

LIABILITIES
Account Payable 1,050,000
Account Payable -1,000,000
Notes Payable -44,000
TOTAL: 6,000

OWNER'S EQUITY
Capital 3,000,000
Utilities Expense -300,000
Rent Expense -400,000
Inventory 1,000,000
Salaries Expense -40,000
Drawing -500,000
Gasoline Expense -10,000
Service Revenue 2,000,000
Interest Revenue 1,500,000
Sale on Credit 500,000
Supplies Expense -150,000
Capital 320,000
Capital 100,000
Miscellaneous Expense -95,800
Sales Revenue 470,000
Miscellaneous Expense 92,000
Miscellaneous Expense 100,000
Supplies Expense -208,000
Sale on Credit 96,000
TOTAL: 7,474,200

TOTAL: 7,480,200
REVENUE
Service Revenue 2,000,000
Interest Revenue 1,500,000
Sales Revenue 562,000
Total: 4,062,000

EXPENSES
Utilities Expense 300,000
Rent Expense 400,000
Salaries Expense 40,000
Gasoline Expense 10,000
Miscellaneous Expense 187,800
Supplies Expense 150,000
Total: 1,087,800

NET INCOME 2,974,200


PARTICULARS DEBIT CREDIT

Cash 680,000
Capital 680,000

Rent Expense 500,000


Cash 500,000

Office Equipment 60,000


Cash 60,000

Sales Return 60,000


Merchandise Inventory 60,000

Account Recievable 40,000


Bills Expense 40,000

Cash 40,000
Salaries Expense 40,000

Cash 50,000
Advertising Expense 50,000

Cash 50,000
Gas Expense 50,000

Cash 50,000
Utilities Expense 50,000

Account Recievable 1,900,000


Sales Revenue 1,900,000

Costumer Refunds Payable 40,000


Cash 40,000

Cash 30,000
Account Payable 30,000

Cash 13,220
Account Recievable 13,220
DEBIT CREDIT
ASSET
Cash 3,000,000
Utilities Expense -300,000
Rent Expense -400,000
Inventory 1,000,000
Salaries Expense -40,000
Drawing -500,000
Gasoline Expense -10,000
Cash 1,050,000
Cash 2,000,000
Cash 1,500,000
Account Receivable 500,000
Cash -1,000,000
Cash -150,000
Cash 320,000
Account Receivable 100,000
Miscellaneous Expense -95,800
Cash -44,000
Cash 470,000
Miscellaneous Expense 92,000
Cash 100,000
Supplies Expense -150,000
Cash 96,000
Cash 680,000
Cash 60,000
Cash 13,220
TOTAL: 8,291,420

LIABILITIES
Account Payable 1,050,000
Account Payable -1,000,000
Notes Payable -44,000
TOTAL: 6,000

OWNER'S EQUITY
Capital 3,000,000
Utilities Expense -300,000
Rent Expense -400,000
Inventory 1,000,000
Salaries Expense -40,000
Drawing -500,000
Gasoline Expense -10,000
Service Revenue 2,000,000
Interest Revenue 1,500,000
Sale on Credit 500,000
Supplies Expense -150,000
Capital 320,000
Capital 100,000
Miscellaneous Expense -95,800
Sales Revenue 470,000
Sales Revenue 92,000
Miscellaneous Expense 100,000
Sale on Credit -150,000
Supplies Expense 96,000
Capital 680,000
Office Equipment 60,000
Account Recievable 13,220

TOTAL: 8,291,420

TOTAL: 8,291,420
REVENUE
Sales Revenue 1,900,000

EXPENSES
Rent Expense 500,000
Utilities Expense 50,000
Gas Expense 50,000
Advertising Expense 50,000
Bills Expense 40,000

NET INCOME 1,210,000

You might also like