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  • PR P4-5a 29 November 2016

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    Amiratul Ratna Putri
    1K views8 pages
    The document provides the general journal entries for Fresh Step Carpet Cleaners for the month of March. Key transactions include the initial capital contribution of £14,000, revenue of £8,000, expenses of £4,210, and net income of £3,790. Adjusting entries were made at the end of the month for depreciation, prepaid insurance, supplies, and salaries. Closing entries transferred balances from temporary to permanent accounts. The post-closing trial balance shows assets of £24,180, liabilities of £6,200, and equity of £17,980.

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    AKUNTANSI

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    Pr p4-5a 29 November 2016

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    The document provides the general journal entries for Fresh Step Carpet Cleaners for the month of March. Key transactions include the initial capital contribution of £14,000, revenue of £8,000, expenses of £4,210, and net income of £3,790. Adjusting entries were made at the end of the month for depreciation, prepaid insurance, supplies, and salaries. Closing entries transferred balances from temporary to permanent accounts. The post-closing trial balance shows assets of £24,180, liabilities of £6,200, and equity of £17,980.

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    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
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    1K views8 pages

    PR P4-5a 29 November 2016

    Uploaded by

    Amiratul Ratna Putri
    The document provides the general journal entries for Fresh Step Carpet Cleaners for the month of March. Key transactions include the initial capital contribution of £14,000, revenue of £8,000, expenses of £4,210, and net income of £3,790. Adjusting entries were made at the end of the month for depreciation, prepaid insurance, supplies, and salaries. Closing entries transferred balances from temporary to permanent accounts. The post-closing trial balance shows assets of £24,180, liabilities of £6,200, and equity of £17,980.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
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    of 8

    GENERAL JOURNAL

    J1
    Date
    March, 1 Cash

    Account Title

    Share Capital-Ordinary
    1 Equipment
    Cash
    Account Payable
    3 Supplies
    Account Payable
    5 Prepaid Insurance
    Cash
    14 Account Receivable
    Service Revenue
    18 Account Payable (Equipment)
    Account Payable (Supplies)
    Cash
    20 Salaries andWages Expense
    Cash
    21 Cash
    Account Receivable
    28 Account Receivable
    Service Revenue
    31 Gasoline Expense
    Cash
    31 Dividend
    Cash

    Ref

    Debit
    14,000

    14,000

    3,000
    7,000

    1,200

    1,800

    4,500

    2,000

    1,800

    1,600

    2,500

    320

    800

    10,000

    1,200

    1,800

    4,500

    1,500
    500

    1,800

    1,600

    2,500

    320

    Kredit

    800

    FRESH STEP CARPET CLEANERS, LTD


    Trial Balance
    March, 31

    Cash
    Account Receivable
    Supplies
    Prepaid Insurance
    Equipment
    Account Payable
    Share Capital-Ordinary
    Dividends
    Service Revenue
    Gasoline Expense
    Salaries and Wages Expense
    TOTALS

    Debit
    5,880
    5,400
    1,200
    1,800
    10,000

    800

    320
    1,800
    27,200

    Credit

    6,200
    14,000

    7,000

    27,200

    FRESH STEP CARPET CLEANERS, LTD


    Worksheet
    For the Month Ended March, 31
    Trial Balance

    Account Titles
    Cash
    Account Receivable
    Supplies
    Prepaid Insurance
    Equipment
    Account Payable
    Share Capital-Ordinary
    Dividends
    Service Revenue
    Gasoline Expense
    Salaries and Wages Expense
    TOTALS
    Depreciation Expense
    Accumulated Depreciation-Equipment
    Insurance Expense
    Supplies Expense
    Salaries and Wages Payable
    TOTALS
    Net Income
    TOTALS

    Debit
    5,880
    5,400
    1,200
    1,800
    10,000

    Adjustments

    Credit

    Debit

    Credit

    1,000

    6,200
    14,000

    7,000

    Adjusted Trial Balance

    950
    150

    800
    320
    1,800
    27,200

    690

    300

    Debit
    5,880
    6,400
    250
    1,650
    10,000

    800

    320
    2,490

    300

    1,000

    Income Statement

    Credit

    6,200
    14,000

    8,000

    Debit

    Credit

    Statement of
    Financial Position
    Debit
    Credit
    5,880
    6,400

    250
    1,650
    10,000
    6,200
    14,000

    800

    8,000

    320
    2,490

    27,200

    150
    950

    3,090

    300

    690
    3,090

    150
    950

    29,190

    300

    150
    950

    300

    300

    690
    29,190 4,210 8,000

    690
    24,980 21,190

    3,790
    8,000 8,000

    3,790
    24,980 24,980

    FRESH STEP CARPET CLEANERS, LTD


    Income Statement
    For the Month Ended March, 31
    Revenues
    Service Revenue
    Expenses
    Gasoline Expense
    Salaries and Wages Expense
    Depreciation Expense
    Insurance Expense
    Supplies Expense
    Total Expenses
    Net Income

    8,000

    4,210
    3,790

    3,790
    3,790
    800
    2,990

    9,700
    1,650
    250
    6,400
    5,880
    23,880

    16,990

    320
    2,490
    300
    150
    950

    FRESH STEP CARPET CLEANERS, LTD


    Retained Earnings Statement
    For the Month Ended March, 31
    Retained earnings, March 1
    Add : Net Income
    Less : Dividends
    Retained earnings, March 31

    FRESH STEP CARPET CLEANERS, LTD


    Statement of Financial Position
    March, 31
    Assets
    Equipment

    Less: Accumulated depreciation-equipment

    Prepaid insurance
    Supplies
    Account Receivable
    Cash
    Total assets
    Equity and Liabilities
    Equity
    Share capital-ordinary

    Retained earnings

    Liabilities
    Account Payable

    10,000
    300

    14,000
    2,990
    6,200

    Salaries and Wages Payable


    Total equity and liabilities

    690

    6,890
    23,880

    GENERAL JOURNAL

    GENERAL LEDGER
    J2

    Date

    Account Titles and Explaination


    Adjusting Entries
    31-Mar Account Receivable
    Service Revenue
    Depreciation Expense
    Accumulated Depreciation-Equipment
    Insurance Expense
    Prepaid Insurance
    Supplies Expense
    Supplies
    Salaries Expense
    Salaries Payable

    Ref.
    112
    400
    711
    158
    722
    130
    631
    126
    726
    212

    Debit

    1,000

    300

    150

    950

    Credit

    1,000

    300

    150

    950

    690

    Date
    1-Mar
    1
    5
    18
    20
    21
    31
    31

    Explaination

    Cash
    Ref.
    J1
    J1
    J1
    J1
    J1
    J1
    J1
    J1

    Debit
    14,000

    Credit

    3,000
    1,800
    2,000
    1,800

    320
    800

    1,600

    No. 101
    Balance

    14,000

    11,000

    9,200

    7,200

    5,400

    7,000

    6,680

    5,880

    690
    Account
    Date
    Explaination
    14-Mar
    21
    28
    31 Adj. entry

    Date
    Explaination
    3-Mar
    31 Adj. entry

    Date
    5-Mar
    31

    Date
    1-Mar

    Receivable
    No. 112
    Ref.
    Debit
    Credit
    Balance
    J1

    4,500

    4,500

    1,600
    2,900
    J1
    J1

    2,500

    5,400

    1,000

    6,400
    J2

    Supplies
    No. 126
    Ref.
    Debit
    Credit
    Balance
    J1

    1,200

    1,200
    J2

    950
    250

    Prepaid Insurance
    No. 130
    Explaination
    Ref.
    Debit
    Credit
    Balance
    J1

    1,800

    1,800
    J2

    150
    1,650
    Equipment
    Explaination
    Ref.
    Debit
    J1

    10,000

    Credit

    No. 157
    Balance

    10,000

    Accumulated Depreciation-Equipment
    No. 158
    Date
    Explaination
    Ref.
    Debit
    Credit
    Balance
    31-Mar Adj. entry
    J2

    300
    300

    Date
    1-Mar
    3
    18

    Accounts Payable
    No. 201
    Explaination
    Ref.
    Debit
    Credit
    Balance
    J1

    7,000
    7,000
    J1

    1,200
    8,200
    J1

    2,000

    6,200

    Salaries and Wages Payable


    Date
    Explaination
    Ref.
    Debit
    31-Mar Adj. entry
    J2

    Date
    1-Mar

    Share Capital-Ordinary
    Explaination
    Ref.
    Debit
    J1

    Date
    31-Mar

    Dividends
    Explaination
    Ref.
    Debit
    J1

    800

    Credit
    690

    No. 212
    Balance

    690

    Credit

    14,000

    No. 311
    Balance

    14,000

    Credit

    No. 332
    Balance

    800

    Service Revenue
    Date
    Explaination
    Ref.
    Debit
    14-Mar
    J1
    28
    J1
    31 Adj. entry
    J2

    Credit
    4,500
    2,500
    1,000

    No. 400
    Balance

    4,500

    7,000

    8,000

    Supplies Expense
    Date
    Explaination
    Ref.
    Debit
    31-Mar Adj. entry
    J2

    Credit
    950

    No. 631
    Balance

    950

    Gasoline Expense
    Explaination
    Ref.
    Debit
    J1

    320

    Credit

    No. 633
    Balance

    320

    Depreciation Expense
    Date
    Explaination
    Ref.
    Debit
    31-Mar Adj. entry
    J2

    300

    Credit

    No. 711
    Balance

    300

    Insurance Expense
    Date
    Explaination
    Ref.
    Debit
    31-Mar Adj. entry
    J2

    150

    Credit

    No. 722
    Balance

    150

    Salaries and Wages Expense


    Date
    Explaination
    Ref.
    Debit
    31-Mar Adj. entry
    J2

    690

    Credit

    No. 726
    Balance

    690

    Date
    31-Mar

    GENERAL JOURNAL
    Date

    Account Titles and Explaination


    Closing Entries
    (1)
    March, 31 Service Revenue
    Income Summary
    (To close revenue account)
    (2)
    31 Income Summary
    Supplies Expense
    Gasoline Expense
    Depreciation Expense
    Insurance Expense
    Salaries and Wages Expense
    (To close expense account)
    (3)
    31 Income Summary
    Retained Earnings
    (To close net income to retained earnings)
    (4)
    31 Retained Earnings
    Dividends
    (To close dividends to retained earnings)

    GENERAL LEDGER
    Ref.

    Debit

    400
    350

    8,000

    350
    631
    633
    711
    722
    726

    4,210

    350
    320

    3,790

    320
    332

    J3
    Credit

    8,000

    950

    320

    300

    150
    2,490

    3,790

    800

    800

    No. 101
    Balance

    14,000

    11,000

    9,200

    7,200

    5,400

    7,000

    6,680

    5,880

    Retained Earnings
    Date
    Explaination
    Ref.
    Debit
    1-Mar
    31 Closing entry
    J3
    31 Closing entry
    J3

    800

    Account Receivable
    No. 112
    Date
    Explaination
    Ref.
    Debit
    Credit
    Balance
    14-Mar
    J1

    4,500

    4,500
    21
    J1

    1,600
    2,900
    J1
    28

    2,500

    5,400
    J2
    31 Adj. entry

    1,000

    6,400

    Income Summary
    Date
    Explaination
    Ref.
    Debit
    31-Mar Closing entry
    J3
    31 Closing entry
    J3

    4,210
    J3
    31 Closing entry

    3,790

    Date
    1-Mar
    1
    5
    18
    20
    21
    31
    31

    Explaination

    Cash
    Ref.
    J1
    J1
    J1
    J1
    J1
    J1
    J1
    J1

    Debit
    14,000

    Credit

    3,000
    1,800
    2,000
    1,800

    1,600

    320
    800

    Supplies
    No. 126
    Date
    Explaination
    Ref.
    Debit
    Credit
    Balance
    3-Mar
    J1

    1,200

    1,200
    31 Adj. entry
    J2

    950
    250

    Date
    5-Mar
    31

    Prepaid Insurance
    No. 130
    Explaination
    Ref.
    Debit
    Credit
    Balance
    J1

    1,800

    1,800
    J2

    150
    1,650

    Date
    1-Mar

    Equipment
    Explaination
    Ref.
    Debit
    J1

    10,000

    Credit

    No. 157
    Balance

    10,000

    Accumulated Depreciation-Equipment
    No. 158
    Date
    Explaination
    Ref.
    Debit
    Credit
    Balance
    31-Mar Adj. entry
    J2

    300
    300

    Date
    1-Mar
    3
    18

    Accounts Payable
    No. 201
    Explaination
    Ref.
    Debit
    Credit
    Balance
    J1

    7,000
    7,000
    J1

    1,200
    8,200
    J1

    2,000

    6,200

    Salaries and Wages Payable


    Date
    Explaination
    Ref.
    Debit
    31-Mar Adj. entry
    J2

    Date
    1-Mar

    Share Capital-Ordinary
    Explaination
    Ref.
    Debit
    J1

    Credit
    690

    Credit

    14,000

    No. 212
    Balance

    690
    No. 311
    Balance

    14,000

    Dividends
    Date
    Explaination
    Ref.
    Debit
    31-Mar
    J1

    800
    J3
    31 Closing entry

    Service Revenue
    Date
    Explaination
    Ref.
    Debit
    14-Mar
    J1
    28
    J1
    31 Adj. entry
    J2
    J3
    31 Closing entry

    8,000
    Supplies Expense
    Date
    Explaination
    Ref.
    Debit
    31-Mar Adj. entry
    J2

    950
    J3
    31 Closing entry
    Gasoline Expense
    Date
    Explaination
    Ref.
    Debit
    31-Mar
    J1

    320
    J3
    31 Closing entry
    Depreciation Expense
    Date
    Explaination
    Ref.
    Debit
    31-Mar Adj. entry
    J2

    300
    J3
    31 Closing entry
    Insurance Expense
    Date
    Explaination
    Ref.
    Debit
    31-Mar Adj. entry
    J2

    150
    J3
    31 Closing entry
    Salaries and Wages Expense
    Date
    Explaination
    Ref.
    Debit
    31-Mar Adj. entry
    J2

    690
    J3
    31 Closing entry

    No. 320
    Balance

    3,790
    3,790

    2,990

    Credit

    No. 332
    Balance

    800
    800
    0

    Credit

    Credit

    8,000

    Credit

    4,500

    2,500

    1,000

    No. 350
    Balance

    8,000

    3,790
    0
    No. 400
    Balance

    4,500

    7,000

    8,000
    0

    No. 631
    Balance

    950
    950
    0

    Credit

    No. 633
    Balance

    320
    320
    0

    Credit

    No. 711
    Balance

    300
    300
    0

    Credit

    No. 722
    Balance

    150
    150
    0

    Credit

    No. 726
    Balance

    690
    690
    0

    Credit

    FRESH STEP CARPET CLEANERS, LTD


    Post-Closing Trial Balance
    March, 31

    Cash
    Account Receivable
    Supplies
    Prepaid Insurance
    Equipment
    Accumulated Depreciation-Equipment
    Accounts Payable
    Salaries and Wages Payable
    Share Capital-Ordinary
    Retained Earnings
    TOTALS

    Debit
    5,880
    6,400
    250
    1,650
    10,000

    24,180

    Credit

    300
    6,200
    690
    14,000
    2,990
    24,180

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