Ty Bullough

General Journal
Date
Account Titles and Explanation
Dec. 1 Cash
Dosler Capital
Owner Contribution.

Accounting I Online Section

J1
Debit
Credit
$ 60,000
$ 60,000

1 Equipment
Cash
Paid cash for equipment.

12,000

1 Pre-paid insurance
Cash
Purchased pre-paid insurance with cash.

2,000

9 Land

22,000

12,000

2,000

Cash
Paid cash for land.

22,000

10 Office Supplies
Accounts Payable
Purchased office supplies on account.

3,300

19 Cash

25,000

3,300

Notes Payable
Received cash in exchange for notes payable.

25,000

22 Advertising expenses
Cash
Paid cash for advertising expenses.

800

26 Accounts Payable
Cash
Paid cash on account.

1,000

28 Utilities Expense
Utilities Payable
Received utility bill.

320

31 Service Revenue
Cash
Accounts Receivable

800

1,000

320

11,200
10,000
1,200

31 Salaries Expense
Rent Expense
Cash
Paid salaries expense and rent expense.

2,100
950

31 Cash

2,400
Unearned Revenue

3,050

2,400

Ty Bullough
General Journal

Accounting I Online Section

J2

Collected cash for future services.

31 Dosler Withdrawals
Cash
Owner Withdrawal from Cash Account.

7,000

31 Supplies Expense
Office Supplies
To record office supplies used.

1,000

31 Depreciation Expense
Accumulated Depreciation Equipment

400

31 Insurance Expense
Pre-paid insurance
To record insurance expired

500

31 Interest Expense
Interest Payable
To record interest accrued on account

100

31 Service Revenue
Income Summary
To close revenue

11,200

31 Income Summary
Salaries Expense
Rent Expense
Utilities Expense
Advertising Expenses
Supplies Expense
Insurance Expense
Interest Expense
Depreciation Expense Equipment
To close expenses

6,170

31 Income Summary
Dosler Capital
To close Income Summary

5,030

31 Dosler Capital
Dosler Withdrawals
To close withdrawals

7,000

7,000

1,000

400

500

100

11,200

2,100
950
320
800
1,000
500
100
400

5,030

7,000

Ty Bullough

Accounting I Online Section

Cash
Dec. 1 60,000
Dec. 19 25,000
Dec. 31 10,000
Dec. 31 2,400

12,000
2,000
22,000
800
1,000
7,000
3,050

Accts. Rec
Dec. 1
Dec. 1
Dec. 9
Dec. 22
Dec. 26
Dec. 31
Dec. 31

Bal. 49550
Equipment

Office Supplies

Dec. 31 1,200

Dec. 10 3,300

Bal. 1,200

Bal. 2,300

Accum. Deprec. Equip.

400 Dec. 31

Dec. 9 22,000

Bal. 12,000

400 Bal.

Bal. 22,000

Interest Payable

500 Dec. 31

Bal. 1,500
Accounts Payable
Dec. 26 1,000

3,300 Dec. 10

2,300 Bal.

Unearned Revenue

Notes Payable-Dosler

320 Dec. 28

100 Dec. 31

2,400 Dec. 31

25,000 Dec. 19

320 Bal.

Bal. 100

2,400 Bal.

25,000 Bal.

Capital-Dosler
60,000 Dec. 1

Clos. 4 7,000

Dec. 1 2,000

Land

Dec. 1 12,000

Utilities Payable

1,000 Dec. 31

Prepaid Insurance

60,000 Adj.Bal.
5,030 Clos. 3

Withdrawals
Dec. 31 7,000

Service Revenue
Dec. 31 11,200

Dec. 31 2,100
11,200 Clos. 1
0 Bal.

Bal. 7,000

Salaries Expense

2,100 Clos. 2
Bal. 0

Bal. 58,030

Rent Expense
Dec. 31 950

Utilities Expense
Dec. 28 320

950 Clos. 2

Bal. 0
Insurance Expense

Dec. 31 100

Dec. 31 1,000
1,000 Clos. 2

Bal. 0

Depreciation Exp. Equip.

Dec. 31 400

100 Clos. 2
Bal. 0

Supplies Expense

800 Clos. 2

Bal. 0
Interest Expense

500 Clos. 2
Bal. 0

Dec. 22 800
320 Clos. 2

Bal. 0

Dec. 31 500

Advertising Expense

Income Summary
Clos. 2 6,170

11,200 Clos. 1

400 Clos. 2
Bal. 0

5030 Bal.
Clos. 3 5030
0 Bal.

Ty Bullough

Accounting I Online Section

Unadjusted Trial Balance

Account Title
Cash
Accounts Receivable
Office Supplies
Pre-paid insurance
Equipment
Accumulated Depreciation Equipment
Land
Accounts Payable
Utilities Payable
Interest Payable
Unearned Revenues
Notes Payable-Dosler
Dosler Capital
Dosler Withdrawals
Service Revenue
Salaries Expense
Rent Expense
Utilities Expense
Advertising Expenses

Debits
$ 49550
1,200
3,300
2,000
12,000

Total

$ 101220

Credits

22,000
$ 2,300
320
2,400
25,000
60,000
7,000
11,200
2,100
950
320
800

$ 101220

Ty Bullough

Accounting I Online Section

Adjusted Trial Balance

Account Title
Cash
Accounts Receivable
Office Supplies
Pre-paid insurance
Equipment
Accumulated Depreciation Equipment
Land
Accounts Payable
Utilities Payable
Interest Payable
Unearned Revenues
Notes Payable-Dosler
Dosler Capital
Dosler Withdrawals
Service Revenue
Salaries Expense
Rent Expense
Utilities Expense
Advertising Expenses
Supplies Expense
Insurance Expense
Interest Expense
Depreciation Expense Equipment

Debits
$ 49,550
1,200
2,300
1,500
12,000

Total

$ 101720

Credits

$ 400
22,000
2,300
320
100
2,400
25,000
60,000
7,000
11,200
2,100
950
320
800
1,000
500
100
400

$ 101720

Income Statement
Revenues:
Service Revenue
Expenses:
Salaries Expense
Rent Expense
Utilities Expense
Advertising Expenses
Supplies Expense
Insurance Expense
Interest Expense
Depreciation Expense Equipment
Total Expenses
Net Income

$ 11,200
$ 2,100
950
320
800
1,000
500
100
400
6,170
$ 5,030

Ty Bullough

Accounting I Online Section

Statement of Changes in Owners Equity

Dosler Capital, December 1
Owner Contribution
Net income for the month

$0
60,000
5,030
65,030
(7000)
58030

Owner Withdrawal
Dosler Capital, December 31
Classified Balance Sheet
Assets
Current Assests:
Cash
Accounts Receivable
Office Supplies
Pre-paid insurance
Total Current Assets
Plant Assetts:
Equipment
Less: Accumulated Depreciation Equipment
Land
Total Plant Assets
Total Assets
Liabilities
Current Liabilities:
Accounts Payable
Utilities Payable
Interest Payable
Unearned Revenues
Total Current Liabilities
Long Term Liabilities:
Notes Payable-Dosler
Total Liabilities
Owners Equity
Dosler, Capital
Total Liabilities and Owners Equity

$ 49,550
1,200
2,300
1,500
$ 6,8050
$ 12,000
(400)

11,600
22,000
33600
$ 88150

$ 2,300
320
100
2,400
$ 5120
25,000
$ 30,120
58,030
$ 88150

Ty Bullough

Accounting I Online Section

Post-Closing Trial Balance

Cash
Accounts Receivable
Office Supplies
Prepaid Insurance
Equipment
Accumulated Depreciation Equipment
Land
Accounts Payable
Utilities Payable
Interest Payable
Unearned Revenue
Notes Payable-Dosler
Dosler, Capital

$ 49550
1,200
2,300
1,500
12,000
$ 400
22,000

$ 88550

2,300
320
100
2,400
25,000
58,030
$ 88550