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August 1 1 1 4 Amount 5,000 7,000 6,000 600 5,000 1,000 200 100 5 7 9 12 15 400 16 Transaction Issued common shares
August 1 1 1 4 Amount 5,000 7,000 6,000 600 5,000 1,000 200 100 5 7 9 12 15 400 16 Transaction Issued common shares for cash Borrowed cash from the bank Paid cash for a used truck Paid cash for a one-year truck insurance policy effective August 1 (record as an asset) Collected fees in cash from a client for work to be performed at a later date Billed a client for services performed today Paid cash for supplies purchased and used today Purchased supplies on credit (record as an asset) Collected part of the amount billed August 7 Paid cash for advertising in The News during the first two weeks of August Paid in cash part of the amount owing for supplies purchased on August 12 Paid the following August expenses in cash: Rent Salaries Telephone Truck operating Called clients about payment of the balances owing from August 7 Billed a client for services performed today, including $1,500 related to cash received August 5 Transferred August's prepaid expenses to insurance expense Counted supplies and found this amount still on hand (recorded the amount used as an expense). 200 20 80 25 700 2,000 200 500 28 29 31 31 5,000 60 80 Date = + Description Singh Services Inc. Transactions Worksheet Liabilities Unused Bank Acct. Unear. + Supp. + Truck = Loan + Pay. + Rev. Assets Ppd. Exp. Acct. Rec. S/H Equity Comm. Ret. + Stock + Earn. Cash + + August 1 1 1 4 5 7 9 12 15 16 20 25 28 29 31 31 Totals ASSETS = LIAB. + S/H EQUITY
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