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Final Case Study ACCT 26 Following are the chart of accounts for and balances for June 1, 20XX for The Right Approach, an advertising company that sells subscriptions and provides consulting for advertising ideas and slogans. The business is in its second year of operations, and transactions for the month of June follow. Chart of Accounts 110 120 130 140 145 150 151 155 156 160 17,540.63 12,409.15 1,962.00 600.00 36,000.00 75,000.00 19,800.00 21,640.00 10,800.00 4,300.00 161 2,145.00 Cash Accounts Receivable Supplies Prepaid Insurance Land Equipment Accumulated Amortization: Equipment Delivery Van Accumulated Amortization: Delivery Van Furniture Accumulated Amortization: Furniture Building Accumulated Amortization: Building Accounts Payable Notes Payable Unearned Revenue Wages Payable Mortgage Payable Jane Green, Capital Jane Green, Drawing Income Summary Consulting Revenue Advertising Subscription Revenue 195,000.00 165 166 205 210 215 220 250 305 310 350 410 415 24.750.00 4,203.32 31,490.60 122,400.00 148,862.86 505 510 515 520 525 530 540 550 555 560 Utilities Expense Wages Expense Advertising Expense Gas and Oil Expense Repairs and Maintenance - Bldg Repairs and Maintenance - Van Interest Expense Supplies Expense Insurance Expense Amortization Expense 364,451.78 364.451.78 Transactions June 1 June 2 June 3 June 4 June 5 June 8 June 9 wrote cheque 1688 for $2,400 for the personal use of Jane Green received $1,000 in cash from Water Works, a plumbing company, for 10 hours of consulting work on an advertising slogan (credit to unearned revenue) wrote cheque 1689 for 422.16 for the telephone bill received today. wrote cheque 1690 for payment of gas for the van in the amount of $136.60. bought supplies $630.00 and agreed to pay in 30 days. wrote cheque 1691 to pay for the utility bill $480,65 recorded revenue for Advertising Subscriptions for the week. $4800 was cash and 5600 is due in 30 days Wrote cheque 1692. In the amount of 1580 52. for the mortgage payment. $500 was June 10 June 3 June 4 June 5 June 8 June 9 June 10 June 11 June 12 June 12 June 15 June 16 June 16 wrote cheque 1689 for 422.16 for the telephone bill received today. wrote cheque 1690 for payment of gas for the van in the amount of $136.60. bought supplies $630.00 and agreed to pay in 30 days. wrote cheque 1691 to pay for the utility bill $480.65. recorded revenue for Advertising Subscriptions for the week, $4800 was cash and $600 is due in 30 days. Wrote cheque 1692, in the amount of 1580.52, for the mortgage payment, $500 was for Interest, and the balance is for the mortgage payable wrote cheque 1693 for $1275.75 for window cleaning for the building (repairs & maintenance - Building). received cheques totalling $2040.60 from charge customers Purchased office supplies costing $1275.75 wrote cheque 1694 for the full amount wrote cheque 1695 for $2,000 for the personal use of Jane Green Wrote Cheque 1696 to pay wages for the June 1- June 14 in the amount of $3,352.64 recorded $6,200 in Advertising Subscriptions for the week, 4,300 was received in cash The balance is due in 30 days. wrote cheque 1697 in the amount of $250.44 to pay for repairs to the van wrote cheque 1698 in the amount of $116.00 for gas and oil for the van received cheques totalling $1865.92 from charge customers wrote a cheque 1699 for $2,362.98 for radio advertising recorded $5,672.55 in revenue for the week from Advertising Subscriptions, received $3,636.50 in cash and the balance is due in 30 days recelved a bill for radio advertising $850,00 to be paid in 30 days. Wrote cheque 1700 for $1,200 for the personal use of Jane Green wrote cheque 1701 in the amount of $622.35 for building repairs wrote cheque 1702 for $750.00 to reduce the amount owed on accounts payable recorded $6,205.00 in Advertising Subscription Revenue for the week, received cash of $2,400.00 and the balance is due in 30 days Wrote cheque 1703 in the amount of $3,352.64 to pay wages for June 15-28 Wrote cheque 1704 in the amount of $925.85 for payment on the Note Payable, $620.50 is for interest wrote cheque 1705 for $175.85 In payment of gas and all for the van June 17 June 18 June 19 June 20 June 22 June 23 June 24 June 25 June 25 June 28 June 29 June 29 June 30 1 I 2 + 3 5+ 16 June 30 wrote cheque 1706 in the amount of $575.00 to reduce amount owed on accounts payable Instructions 1. Enter the account names, numbers, and balances into the general ledger. 2. Record June's transactions in a general journal. Begin numbering with page 85. 3. Post the transactions to the general ledger, don't forget the posting references. 4. Prepare a trial balance at June 30, to verify you balance. 5. Prepare adjusting entries and record in the general Journal from the following information a. The inventory of supplies on June 30, is $1460.45 (based on a physical count). b. The insurance policy was purchased on January 1 at a cost of $1,200 and is for a 12 month period. The equipment has a useful life of 10 years and a salvage value of $1.500. d. The delivery van has a useful life of 4 years and a salvage value of $1.240. e. The furniture has a useful life of 5 years and no salvage value f. The building has a useful life of 20 years and a salvage value of 15.000. 3 hours of consulting (at $100 per hours) were performed by Jane Green during June for the Water Works Company. See June 2 transaction h. June 30 falls on a Monday. Record 1 days wage expense at $335.26. Inrecorded Advertisine Subscrintion Revenue for the last days of line which customers 8 3. Post the transactions to the general ledger, don't forget the posting references. 4. Prepare a trial balance at June 30, to verify you balance. a 5. Prepare adjusting entries and record in the general journal from the following information a. The inventory of supplies on June 30th, is $1460.45 (based on a physical count). b. The insurance policy was purchased on January 1 at a cost of $1,200 and is for a 12 month period. C. The equipment has a useful life of 10 years and a salvage value of $1,500. d. The delivery van has a useful life of 4 years and a salvage value of $1,240. e. The furniture has a useful life of 5 years and no salvage value. f. The building has a useful life of 20 years and a salvage value of 15,000. 8. 3 hours of consulting (at $100 per hours) were performed by Jane Green during June for the Water Works Company. See June 2 transaction. h. June 30 falls on a Monday. Record 1 days wage expense at $335.26. 1. Unrecorded Advertising Subscription Revenue for the last 2 days of June (which customers have not paid or been involced) is $1,688.35. 6. Post the adjusting entries to the General Ledger 7. Prepare a trial balance at June 30th 8. Prepare an income statement for the Month Ended June 30. 9. Prepare a balance sheet at June 30. 10. Journalize the closing entries in the general Journal. 11. Post the closing entries to the general ledger. 12. Prepare a post-closing trial balance, D E + CASH Date Jun1 XX Explanation Balance Forward Post Ref Debit G Account # 110 Balance S 17,540.63 Credit 10 11 12 13 14 13 16 17 18 19 20 21 P P 23 0! 24 25 26 27 4 28 29 01 30 31 EC 32 33 01 34 IACI 35 36 37 D 01 38 39 40 DEL General Journal Ledger Accounts Trial Balance Income + Balance K M 2 H $ 01-Jun Balance Forward 1,962. PREPAID INSURANCE Date Explanation 01-Jun Balance Forward Account #14 Balance Post Ref Debit Credit $ 600.0 LAND Post Ref Debit Credit Date 01-Jun Explanation Balance Forward Account # 14 Balance $ 36,000.0 Account # 15 EQUIPMENT Date Explanation 01-Jun Balance Forward Post Ref Debit Credit Balance 75,000.00 $ ACC. AMORT- EQUIPMENT Date Explanation 01-Jun Balance Forward Post Ref Debit Credit Account # 15. Balance $ 19,800.00 DELIVERY VAN Date Explanation 01-Jun Balance Forward Post Ref Debit Credit Account # 155 Balance $ 21,640.00 ACC. AMORT-DELIVARY VAN General Journal Ledger Accounts Trial Balance Income Account # 151 Balance Sheets fx CASH K L M DELIVERY VAN Date Explanation 01-Jun Balance Forward Post Ref Debit Credit Account # 155 Balance $ 21,640.00 ACC. AMORT-DELIVARY VAN Date Explanation 01-Jun Balance Forward Post Ref Debit Credit Account # 151 Balance $ 10,800.00 FURNITURE Date Explanation 01-Jun Balance Forward Post Ref Debit Credit Account # 160 Balance s 4,300.00 ACC. AMORT- FURNITURE Date Explanation 01-Jun Balance Forward Post Ref Debit Credit Account #161 Balance $ 2,145.00 BUILDING Date Explanation 01-Jun Balance Forward Post Ref Debit Credit Account # 165 Balance $ 195,000.00 ACC. AMORT- BUILDING Date Explanation 01-Jun Balance Forward Post Ref Debit Credit Account # 166 Balance s 24,750.00 eral Journal Ledger Accounts Trial Balance Income + Balance Sheets Scroll right for remaining accounts - they are in numenc order ACCTS PAYABLE Date Explanation 01-Jun Balance Forward Post Ref Debit Credit Account #205 Balance $ 4,203.32 NOTES PAYABLE Date Explanation 01-Jun Balance Forward Post Ref Debit Credit Account # 210 Balance $ 31,490.60 UNEARNED CONSULTING REVENUE Date Explanation Post Ref Account #215 Balance Debit Credit WAGES PAYABLE Date Explanation Account # 220 Balance Post Ref Debit Credit MORTGAGE PAYABLE - BUILDING Date Explanation Post Ref 11.lan Balance Erward Debit Credit Account # 250 Balance 1221000 TIL Date 01-Jun R Post Ref Explanation Balance Forward Debit Credit Balance 122,400.00 $ JANE GREEN, CAPITAL Date Explanation 01-Jun Balance Forward Post Ref Debit Credit Account #305 Balance $ 148,862.86 JANE GREEN, DRAWING Date Explanation Account # 310 Balance Post Ref Debit Credit INCOME SUMARY Date Explanation Account # 350 Balance Post Ref Debit Credit REVENUE FROM SUBSCRIPTIONS Date Explanation Account #415 Balance Post Ref Debit Credit A. R S INCOME SUMARY Date Explanation Account # 350 Balance Post Ref Debit Credit REVENUE FROM SUBSCRIPTIONS Date Explanation Account # 415 Balance Post Ref Debit Credit CONSULTING REVENUE Date Explanation Account #410 Balance Post Ref Debit Credit Ai P R R S INCOME SUMARY Date Explanation Account # 350 Balance Post Ref Debit Credit REVENUE FROM SUBSCRIPTIONS Date Explanation Account # 415 Balance Post Ref Debit Credit CONSULTING REVENUE Date Explanation Account #410 Balance Post Ref Debit Credit AA AC Y N AB W X $ GASOLINE & OIL EXPENSE Date Explanation Account # 520 Balance Post Ref Debit Credit Account # 525 Balance REPAIRS AND MAINTENANCE - BLDG Date Explanation Post Ref Debit Credit $ Account # 530 Balance Debit Credit REPAIRS AND MAINTENANCE - VAN Date Explanation Post Ref $ Account # 540 Balance Credit Debit INTEREST EXPENSE Date Explanation Post Ref 350 Account # 550 Balance Debit Credit SUPPLIES EXPENSE Date Explanation Post Ref UTILITIES EXPENSE Date Explanation Account # 505 Balance Post Ref Debit Credit $ WAGES EXPENSE Date Explanation Account # 510 Balance Post Ref Debit Credit $ ADVERTISING EXPENSE Date Explanation Account #515 Balance Post Ref Debit Credit S GASOLINE & OIL EXPENSE Date Explanation Account #520 Balance Post Ref Debit Credit W X $ GASOLINE & OIL EXPENSE Date Explanation Account #520 Balance Post Ref Debit Credit Account # 525 Balance REPAIRS AND MAINTENANCE - BLDG Date Explanation Post Ref Debit Credit S Account #530 Balance Debit Credit REPAIRS AND MAINTENANCE - VAN Date Explanation Post Ref $ 20 Account #540 Balance Credit Debit INTEREST EXPENSE Date Explanation Post Ref S 350 Account # 550 Balance Credit Debit SUPPLIES EXPENSE Date Explanation Post Ref INTEREST EXPENSE Date Explanation Account #540 Balance Post Ref Debit Credit 350 SUPPLIES EXPENSE Date Explanation Account # 550 Balance Post Ref Debit Credit #415 INSURANCE EXPENSE Date Explanation Account #555 Balance Post Ref Debit Credit ce AMORTIZATION EXPENSE Date Explanation Account #560 Balance Post Ref Debit Credit #410 nce The Right Approach Trial Balance June 30, 20XX Debit Credit Account Cash $ Accounts Receivable 9 Supplies 10 Prepaid Insurance 11 Land 12 Equipment 13 Acc. Amortization - Equipment 14 Delivery Van 15 Acc Amortization - Delivery Van 16 Furniture 17 Acc. Amortization - Furniture 18 Building 19 ACC Amortization - Building 20 Accounts Payable 21 Notes Payable 22 Unearned Consulting Revenue 23 Mortgage Payable - Building 24 Wages Payable 25 Jane Green, Capital 26 Jane Green, Drawing 27 Revenue from Subscriptions 28 Consulting Revenue 29 Utilities Expense 30 Wages Expense 31 Advertising Expense 32 Gas & ONT Expense 33 Repairs and Maintenance - BLOG 34 Repairs and Maintenance: VAN 33. Interest Expense 36 Supplies Exoense 37 Insurance Expense 38 Amortization Expense 39 40 387.698.56 382898.46 General Journal Ledger Accounts Scroll $ Instruction 8 The Right Approach Income Statement for the month ending June 30, 20XX Revenue Advertising Subscription Revenue Consulting Revenue Total Revenue: Expenses Utilities Expense Wages Expense Advertising Expenses Gas & Oil Expense Repairs and Maintenance - Bldg Repairs and Maintenance - Van Interest Expense Supplies Expense Insurance Expense Amortization Expense Total Expenses: Net Income $ $ The Right Approach Post-Closing Trial Balance Sheet for the month ending Oct 31st, 20XX Assets Cash Accts Receivable Supplies Prepaid Insurance Land Equipment Acc. Amortization - Equipment Delivery Van Acc. Amortization - Delivery Van Furniture Acc. Amortization - Furniture Building Acc. Amortization - Building Accts Payable Notes Payable Unearned Consulting Revenue Mortgage Payable - Building Wages Payable J.P. Dubois, Capital, Oct 31, 20XX Totals: $ $ General Journal Ledger Accounts Trial Balance Income + Balance Sh Final Case Study ACCT 26 Following are the chart of accounts for and balances for June 1, 20XX for The Right Approach, an advertising company that sells subscriptions and provides consulting for advertising ideas and slogans. The business is in its second year of operations, and transactions for the month of June follow. Chart of Accounts 110 120 130 140 145 150 151 155 156 160 17,540.63 12,409.15 1,962.00 600.00 36,000.00 75,000.00 19,800.00 21,640.00 10,800.00 4,300.00 161 2,145.00 Cash Accounts Receivable Supplies Prepaid Insurance Land Equipment Accumulated Amortization: Equipment Delivery Van Accumulated Amortization: Delivery Van Furniture Accumulated Amortization: Furniture Building Accumulated Amortization: Building Accounts Payable Notes Payable Unearned Revenue Wages Payable Mortgage Payable Jane Green, Capital Jane Green, Drawing Income Summary Consulting Revenue Advertising Subscription Revenue 195,000.00 165 166 205 210 215 220 250 305 310 350 410 415 24.750.00 4,203.32 31,490.60 122,400.00 148,862.86 505 510 515 520 525 530 540 550 555 560 Utilities Expense Wages Expense Advertising Expense Gas and Oil Expense Repairs and Maintenance - Bldg Repairs and Maintenance - Van Interest Expense Supplies Expense Insurance Expense Amortization Expense 364,451.78 364.451.78 Transactions June 1 June 2 June 3 June 4 June 5 June 8 June 9 wrote cheque 1688 for $2,400 for the personal use of Jane Green received $1,000 in cash from Water Works, a plumbing company, for 10 hours of consulting work on an advertising slogan (credit to unearned revenue) wrote cheque 1689 for 422.16 for the telephone bill received today. wrote cheque 1690 for payment of gas for the van in the amount of $136.60. bought supplies $630.00 and agreed to pay in 30 days. wrote cheque 1691 to pay for the utility bill $480,65 recorded revenue for Advertising Subscriptions for the week. $4800 was cash and 5600 is due in 30 days Wrote cheque 1692. In the amount of 1580 52. for the mortgage payment. $500 was June 10 June 3 June 4 June 5 June 8 June 9 June 10 June 11 June 12 June 12 June 15 June 16 June 16 wrote cheque 1689 for 422.16 for the telephone bill received today. wrote cheque 1690 for payment of gas for the van in the amount of $136.60. bought supplies $630.00 and agreed to pay in 30 days. wrote cheque 1691 to pay for the utility bill $480.65. recorded revenue for Advertising Subscriptions for the week, $4800 was cash and $600 is due in 30 days. Wrote cheque 1692, in the amount of 1580.52, for the mortgage payment, $500 was for Interest, and the balance is for the mortgage payable wrote cheque 1693 for $1275.75 for window cleaning for the building (repairs & maintenance - Building). received cheques totalling $2040.60 from charge customers Purchased office supplies costing $1275.75 wrote cheque 1694 for the full amount wrote cheque 1695 for $2,000 for the personal use of Jane Green Wrote Cheque 1696 to pay wages for the June 1- June 14 in the amount of $3,352.64 recorded $6,200 in Advertising Subscriptions for the week, 4,300 was received in cash The balance is due in 30 days. wrote cheque 1697 in the amount of $250.44 to pay for repairs to the van wrote cheque 1698 in the amount of $116.00 for gas and oil for the van received cheques totalling $1865.92 from charge customers wrote a cheque 1699 for $2,362.98 for radio advertising recorded $5,672.55 in revenue for the week from Advertising Subscriptions, received $3,636.50 in cash and the balance is due in 30 days recelved a bill for radio advertising $850,00 to be paid in 30 days. Wrote cheque 1700 for $1,200 for the personal use of Jane Green wrote cheque 1701 in the amount of $622.35 for building repairs wrote cheque 1702 for $750.00 to reduce the amount owed on accounts payable recorded $6,205.00 in Advertising Subscription Revenue for the week, received cash of $2,400.00 and the balance is due in 30 days Wrote cheque 1703 in the amount of $3,352.64 to pay wages for June 15-28 Wrote cheque 1704 in the amount of $925.85 for payment on the Note Payable, $620.50 is for interest wrote cheque 1705 for $175.85 In payment of gas and all for the van June 17 June 18 June 19 June 20 June 22 June 23 June 24 June 25 June 25 June 28 June 29 June 29 June 30 1 I 2 + 3 5+ 16 June 30 wrote cheque 1706 in the amount of $575.00 to reduce amount owed on accounts payable Instructions 1. Enter the account names, numbers, and balances into the general ledger. 2. Record June's transactions in a general journal. Begin numbering with page 85. 3. Post the transactions to the general ledger, don't forget the posting references. 4. Prepare a trial balance at June 30, to verify you balance. 5. Prepare adjusting entries and record in the general Journal from the following information a. The inventory of supplies on June 30, is $1460.45 (based on a physical count). b. The insurance policy was purchased on January 1 at a cost of $1,200 and is for a 12 month period. The equipment has a useful life of 10 years and a salvage value of $1.500. d. The delivery van has a useful life of 4 years and a salvage value of $1.240. e. The furniture has a useful life of 5 years and no salvage value f. The building has a useful life of 20 years and a salvage value of 15.000. 3 hours of consulting (at $100 per hours) were performed by Jane Green during June for the Water Works Company. See June 2 transaction h. June 30 falls on a Monday. Record 1 days wage expense at $335.26. Inrecorded Advertisine Subscrintion Revenue for the last days of line which customers 8 3. Post the transactions to the general ledger, don't forget the posting references. 4. Prepare a trial balance at June 30, to verify you balance. a 5. Prepare adjusting entries and record in the general journal from the following information a. The inventory of supplies on June 30th, is $1460.45 (based on a physical count). b. The insurance policy was purchased on January 1 at a cost of $1,200 and is for a 12 month period. C. The equipment has a useful life of 10 years and a salvage value of $1,500. d. The delivery van has a useful life of 4 years and a salvage value of $1,240. e. The furniture has a useful life of 5 years and no salvage value. f. The building has a useful life of 20 years and a salvage value of 15,000. 8. 3 hours of consulting (at $100 per hours) were performed by Jane Green during June for the Water Works Company. See June 2 transaction. h. June 30 falls on a Monday. Record 1 days wage expense at $335.26. 1. Unrecorded Advertising Subscription Revenue for the last 2 days of June (which customers have not paid or been involced) is $1,688.35. 6. Post the adjusting entries to the General Ledger 7. Prepare a trial balance at June 30th 8. Prepare an income statement for the Month Ended June 30. 9. Prepare a balance sheet at June 30. 10. Journalize the closing entries in the general Journal. 11. Post the closing entries to the general ledger. 12. Prepare a post-closing trial balance, D E + CASH Date Jun1 XX Explanation Balance Forward Post Ref Debit G Account # 110 Balance S 17,540.63 Credit 10 11 12 13 14 13 16 17 18 19 20 21 P P 23 0! 24 25 26 27 4 28 29 01 30 31 EC 32 33 01 34 IACI 35 36 37 D 01 38 39 40 DEL General Journal Ledger Accounts Trial Balance Income + Balance K M 2 H $ 01-Jun Balance Forward 1,962. PREPAID INSURANCE Date Explanation 01-Jun Balance Forward Account #14 Balance Post Ref Debit Credit $ 600.0 LAND Post Ref Debit Credit Date 01-Jun Explanation Balance Forward Account # 14 Balance $ 36,000.0 Account # 15 EQUIPMENT Date Explanation 01-Jun Balance Forward Post Ref Debit Credit Balance 75,000.00 $ ACC. AMORT- EQUIPMENT Date Explanation 01-Jun Balance Forward Post Ref Debit Credit Account # 15. Balance $ 19,800.00 DELIVERY VAN Date Explanation 01-Jun Balance Forward Post Ref Debit Credit Account # 155 Balance $ 21,640.00 ACC. AMORT-DELIVARY VAN General Journal Ledger Accounts Trial Balance Income Account # 151 Balance Sheets fx CASH K L M DELIVERY VAN Date Explanation 01-Jun Balance Forward Post Ref Debit Credit Account # 155 Balance $ 21,640.00 ACC. AMORT-DELIVARY VAN Date Explanation 01-Jun Balance Forward Post Ref Debit Credit Account # 151 Balance $ 10,800.00 FURNITURE Date Explanation 01-Jun Balance Forward Post Ref Debit Credit Account # 160 Balance s 4,300.00 ACC. AMORT- FURNITURE Date Explanation 01-Jun Balance Forward Post Ref Debit Credit Account #161 Balance $ 2,145.00 BUILDING Date Explanation 01-Jun Balance Forward Post Ref Debit Credit Account # 165 Balance $ 195,000.00 ACC. AMORT- BUILDING Date Explanation 01-Jun Balance Forward Post Ref Debit Credit Account # 166 Balance s 24,750.00 eral Journal Ledger Accounts Trial Balance Income + Balance Sheets Scroll right for remaining accounts - they are in numenc order ACCTS PAYABLE Date Explanation 01-Jun Balance Forward Post Ref Debit Credit Account #205 Balance $ 4,203.32 NOTES PAYABLE Date Explanation 01-Jun Balance Forward Post Ref Debit Credit Account # 210 Balance $ 31,490.60 UNEARNED CONSULTING REVENUE Date Explanation Post Ref Account #215 Balance Debit Credit WAGES PAYABLE Date Explanation Account # 220 Balance Post Ref Debit Credit MORTGAGE PAYABLE - BUILDING Date Explanation Post Ref 11.lan Balance Erward Debit Credit Account # 250 Balance 1221000 TIL Date 01-Jun R Post Ref Explanation Balance Forward Debit Credit Balance 122,400.00 $ JANE GREEN, CAPITAL Date Explanation 01-Jun Balance Forward Post Ref Debit Credit Account #305 Balance $ 148,862.86 JANE GREEN, DRAWING Date Explanation Account # 310 Balance Post Ref Debit Credit INCOME SUMARY Date Explanation Account # 350 Balance Post Ref Debit Credit REVENUE FROM SUBSCRIPTIONS Date Explanation Account #415 Balance Post Ref Debit Credit A. R S INCOME SUMARY Date Explanation Account # 350 Balance Post Ref Debit Credit REVENUE FROM SUBSCRIPTIONS Date Explanation Account # 415 Balance Post Ref Debit Credit CONSULTING REVENUE Date Explanation Account #410 Balance Post Ref Debit Credit Ai P R R S INCOME SUMARY Date Explanation Account # 350 Balance Post Ref Debit Credit REVENUE FROM SUBSCRIPTIONS Date Explanation Account # 415 Balance Post Ref Debit Credit CONSULTING REVENUE Date Explanation Account #410 Balance Post Ref Debit Credit AA AC Y N AB W X $ GASOLINE & OIL EXPENSE Date Explanation Account # 520 Balance Post Ref Debit Credit Account # 525 Balance REPAIRS AND MAINTENANCE - BLDG Date Explanation Post Ref Debit Credit $ Account # 530 Balance Debit Credit REPAIRS AND MAINTENANCE - VAN Date Explanation Post Ref $ Account # 540 Balance Credit Debit INTEREST EXPENSE Date Explanation Post Ref 350 Account # 550 Balance Debit Credit SUPPLIES EXPENSE Date Explanation Post Ref UTILITIES EXPENSE Date Explanation Account # 505 Balance Post Ref Debit Credit $ WAGES EXPENSE Date Explanation Account # 510 Balance Post Ref Debit Credit $ ADVERTISING EXPENSE Date Explanation Account #515 Balance Post Ref Debit Credit S GASOLINE & OIL EXPENSE Date Explanation Account #520 Balance Post Ref Debit Credit W X $ GASOLINE & OIL EXPENSE Date Explanation Account #520 Balance Post Ref Debit Credit Account # 525 Balance REPAIRS AND MAINTENANCE - BLDG Date Explanation Post Ref Debit Credit S Account #530 Balance Debit Credit REPAIRS AND MAINTENANCE - VAN Date Explanation Post Ref $ 20 Account #540 Balance Credit Debit INTEREST EXPENSE Date Explanation Post Ref S 350 Account # 550 Balance Credit Debit SUPPLIES EXPENSE Date Explanation Post Ref INTEREST EXPENSE Date Explanation Account #540 Balance Post Ref Debit Credit 350 SUPPLIES EXPENSE Date Explanation Account # 550 Balance Post Ref Debit Credit #415 INSURANCE EXPENSE Date Explanation Account #555 Balance Post Ref Debit Credit ce AMORTIZATION EXPENSE Date Explanation Account #560 Balance Post Ref Debit Credit #410 nce The Right Approach Trial Balance June 30, 20XX Debit Credit Account Cash $ Accounts Receivable 9 Supplies 10 Prepaid Insurance 11 Land 12 Equipment 13 Acc. Amortization - Equipment 14 Delivery Van 15 Acc Amortization - Delivery Van 16 Furniture 17 Acc. Amortization - Furniture 18 Building 19 ACC Amortization - Building 20 Accounts Payable 21 Notes Payable 22 Unearned Consulting Revenue 23 Mortgage Payable - Building 24 Wages Payable 25 Jane Green, Capital 26 Jane Green, Drawing 27 Revenue from Subscriptions 28 Consulting Revenue 29 Utilities Expense 30 Wages Expense 31 Advertising Expense 32 Gas & ONT Expense 33 Repairs and Maintenance - BLOG 34 Repairs and Maintenance: VAN 33. Interest Expense 36 Supplies Exoense 37 Insurance Expense 38 Amortization Expense 39 40 387.698.56 382898.46 General Journal Ledger Accounts Scroll $ Instruction 8 The Right Approach Income Statement for the month ending June 30, 20XX Revenue Advertising Subscription Revenue Consulting Revenue Total Revenue: Expenses Utilities Expense Wages Expense Advertising Expenses Gas & Oil Expense Repairs and Maintenance - Bldg Repairs and Maintenance - Van Interest Expense Supplies Expense Insurance Expense Amortization Expense Total Expenses: Net Income $ $ The Right Approach Post-Closing Trial Balance Sheet for the month ending Oct 31st, 20XX Assets Cash Accts Receivable Supplies Prepaid Insurance Land Equipment Acc. Amortization - Equipment Delivery Van Acc. Amortization - Delivery Van Furniture Acc. Amortization - Furniture Building Acc. Amortization - Building Accts Payable Notes Payable Unearned Consulting Revenue Mortgage Payable - Building Wages Payable J.P. Dubois, Capital, Oct 31, 20XX Totals: $ $ General Journal Ledger Accounts Trial Balance Income + Balance Sh
