Chart of accounts

Account No.	Name
100	Cash
110	Accounts Receivable
130	Office Supplies
140	Prepaid Rent
160	Music Equipment
161	Accum Depn: Music Equipment
210	Accounts Payable
220	Wages Payable
221	Telephone Payable
225	Interest Payable
230	Unearned Revenue
250	Bank Loan Payable
300	Capital
310	Income Summary
350	Withdrawals
400	Revenues
516	Wages Expense
541	Telephone Expense
543	Rent Expense
544	Office Supplies Expense
560	Depn Expense: Music Equipment
571	Interest Expense

the details of the end of month adjustments for June are as follows:

Music Equipment owned by the business: original purchase price was $47,000, estimated useful life was 7 years, and estimated residual value was $8,900 at the end of the useful life. Depreciation is calculated on a monthly basis using the straight line method. The monthly depreciation charge is calculated as the yearly depreciation expense divided by the number of months in a year.

A number of music lessons totalling $2,300 were provided during the month of June for D-Funkt Records but not yet invoiced.

The estimated telephone bill payable as at the end of June is $120.

Instructors work every single day during the week including weekends and are paid on a periodic basis. Wages were last paid up to and including June 15. Wages incurred after that day (from June 16 to June 30 inclusive) are estimated to have been $580 per day.

Interest expense incurred during the month of June but not yet paid to ZNZ Bank for the bank loan is $930.

Provided $2,720 worth of music lessons during the month of June in relation to the cash received in advance from Dan Soul on June 9.

Office supplies totaling $1,089 are still on hand at June 30.

$3,360 of worth prepaid rent expired during the month of June.

GENERAL JOURNAL

Date		Account and Explanation	Post Ref.	Debit	Credit
Jun	30	(select)
		(select)
Jun	30	(select)
		(select)
Jun	30	(select)
		(select)
Jun	30	(select)
		(select)
Jun	30	(select)
		(select)
Jun	30	(select)
		(select)
Jun	30	(select)
		(select)
Jun	30	(select)
		(select)

(Q=510-110.AcctsRec_adjEntry)

GENERAL LEDGER

Account: Accounts Receivable Account No. 110

Date		Description	Ref.	Debit	Credit	Balance
Jun	10	Service revenue	GJ	5,700		5,700 DR
Jun	17	Collection of accounts receivable	GJ		3,400	2,300 DR
Jun	28	Service revenue	GJ	10,300		12,600 DR
Jun	30		[GJ \/]			[DR \/]
Jun	30		[GJ \/]			[DR \/]
Jun	30		[GJ \/]			[DR \/]
Jun	30	Adjusted Balance				[DR \/]

(Q=510-130.StoreSupplies_adjEntry)

Account: Office Supplies Account No. 130

Date		Description	Ref.	Debit	Credit	Balance
Jun	3	purchase of office supplies	GJ	3,300		3,300 DR
Jun	30		[GJ \/]			[DR \/]
Jun	30		[GJ \/]			[DR \/]
Jun	30		[GJ \/]			[DR \/]
Jun	30	Adjusted Balance				[DR \/]

(Q=510-140.PrepaidExpense_adjEntry)

Account: Prepaid Rent Account No. 140

Date		Description	Ref.	Debit	Credit	Balance
Jun	1	Prepaid rent	GJ	10,080		10,080 DR
Jun	30		[GJ \/]			[DR \/]
Jun	30		[GJ \/]			[DR \/]
Jun	30		[GJ \/]			[DR \/]
Jun	30	Adjusted Balance				[DR \/]

(Q=510-161.AccDepnCapitalAsset1_adjEntry)

Account: Accum Depn: Music Equipment Account No. 161

Date		Description	Ref.	Debit	Credit	Balance
Jun	30		[GJ \/]			[DR \/]
Jun	30		[GJ \/]			[DR \/]
Jun	30		[GJ \/]			[DR \/]
Jun	30	Adjusted Balance				[DR \/]

(Q=510-220.WagesPayable_adjEntry)

Account: Wages Payable Account No. 220

Date		Description	Ref.	Debit	Credit	Balance
Jun	30		[GJ \/]			[DR \/]
Jun	30		[GJ \/]			[DR \/]
Jun	30		[GJ \/]			[DR \/]
Jun	30	Adjusted Balance				[DR \/]

(Q=510-221.UtilityPayable_adjEntry)

Account: Telephone Payable Account No. 221

Date		Description	Ref.	Debit	Credit	Balance
Jun	30		[GJ \/]			[DR \/]
Jun	30		[GJ \/]			[DR \/]
Jun	30		[GJ \/]			[DR \/]
Jun	30	Adjusted Balance				[DR \/]

(Q=510-225.InterestPayable_adjEntry)

Account: Interest Payable Account No. 225

Date		Description	Ref.	Debit	Credit	Balance
Jun	30		[GJ \/]			[DR \/]
Jun	30		[GJ \/]			[DR \/]
Jun	30		[GJ \/]			[DR \/]
Jun	30	Adjusted Balance				[DR \/]

(Q=510-230.UnearnedRevenue_adjEntry)

Account: Unearned Revenue Account No. 230

Date		Description	Ref.	Debit	Credit	Balance
Jun	9	Revenue received in advance	GJ		6,800	6,800 CR
Jun	30		[GJ \/]			[DR \/]
Jun	30		[GJ \/]			[DR \/]
Jun	30		[GJ \/]			[DR \/]
Jun	30	Adjusted Balance				[DR \/]

(Q=510-400.Revenues_adjEntry)

Account: Revenues Account No. 400

Date		Description	Ref.	Debit	Credit	Balance
Jun	5	Received cash for services	GJ		3,100	3,100 CR
Jun	10	Services provided on credit	GJ		5,700	8,800 CR
Jun	27	Received cash for services	GJ		3,900	12,700 CR
Jun	28	Services provided on credit	GJ		10,300	23,000 CR
Jun	30		[GJ \/]			[DR \/]
Jun	30		[GJ \/]			[DR \/]
Jun	30		[GJ \/]			[DR \/]
Jun	30	Adjusted Balance				[DR \/]

(Q=510-516.WagesExpense_adjEntry)

Account: Wages Expense Account No. 516

Date		Description	Ref.	Debit	Credit	Balance
Jun	16	Paid staff wages	GJ	5,900		5,900 DR
Jun	30		[GJ \/]			[DR \/]
Jun	30		[GJ \/]			[DR \/]
Jun	30		[GJ \/]			[DR \/]
Jun	30	Adjusted Balance				[DR \/]

(Q=510-541.UtilityExpense_adjEntry)

Account: Telephone Expense Account No. 541

Date		Description	Ref.	Debit	Credit	Balance
Jun	6	Paid telephone expense	GJ	190		190 DR
Jun	30		[GJ \/]			[DR \/]
Jun	30		[GJ \/]			[DR \/]
Jun	30		[GJ \/]			[DR \/]
Jun	30	Adjusted Balance				[DR \/]

(Q=510-543.IncurredExpense_adjEntry)

Account: Rent Expense Account No. 543

Date		Description	Ref.	Debit	Credit	Balance
Jun	30		[GJ \/]			[DR \/]
Jun	30		[GJ \/]			[DR \/]
Jun	30		[GJ \/]			[DR \/]
Jun	30	Adjusted Balance				[DR \/]

(Q=510-544.SuppliesExpense_adjEntry)

Account: Office Supplies Expense Account No. 544

Date		Description	Ref.	Debit	Credit	Balance
Jun	30		[GJ \/]			[DR \/]
Jun	30		[GJ \/]			[DR \/]
Jun	30		[GJ \/]			[DR \/]
Jun	30	Adjusted Balance				[DR \/]

(Q=510-560.DepnExpenseCapitalAsset1_adjEntry)

Account: Depn Expense: Music Equipment Account No. 560

Date		Description	Ref.	Debit	Credit	Balance
Jun	30		[GJ \/]			[DR \/]
Jun	30		[GJ \/]			[DR \/]
Jun	30		[GJ \/]			[DR \/]
Jun	30	Adjusted Balance				[DR \/]

(Q=510-571.InterestExpense_adjEntry)

Account: Interest Expense Account No. 571

Date		Description	Ref.	Debit	Credit	Balance
Jun	30		[GJ \/]			[DR \/]
Jun	30		[GJ \/]			[DR \/]
Jun	30		[GJ \/]			[DR \/]
Jun	30	Adjusted Balance