GENERAL JOURNAL

Date Account Titles Ref Dr Cr

December 1 Cash 500,000,000
Share capital ordinary 500,000,000
2 Prepaid rent 24,000,000
cash 24,000,000
3 machine 60,000,000
cash 60,000,000
3 prepaid insurance 3,000,000
cash 3,000,000
4 equipment 30,000,000
cash 30,000,000
4 supplies expense 5,000,000
account payable 5,000,000
5 cash 1,000,000
service revenue 1,000,000
6 service and maintenance expense 300,000
cash 300,000
8 account receivable 2,500,000
service revenue 2,500,000
9 supplies expense 6,000,000
account payable 6,000,000
9 cash 3,500,000
service revenue 3,500,000
10 misc expense 250,000
cash 250,000
11 cash 2,000,000
service revenue 2,000,000
13 account payable 5,000,000
cash 5,000,000
14 cash 2,500,000
Account receivable 2,500,000
15 salaries and wages expense 6,000,000
cash 6,000,000
17 Account receivable 15,000,000
service revenue 15,000,000
18 utilitIES expense 1,200,000
cash 1,200,000
19 account payable 6,000,000
cash 6,000,000
20 supplies expense 4,000,000
cash 4,000,000
21 cash 12,000,000
unearned revenue 12,000,000
22 Account receivable 10,000,000
 service revenue 10,000,000
23 cash 10,000,000
account receivable 10,000,000
25 service and maintenance expense 2,000,000
cash 2,000,000
27 suppies expense 7,000,000
account payable 7,000,000
29 cash 5,000,000
service revenue 5,000,000
31 cash 2,500,000
service revenue 2,500,000

725,750,000 725,750,000

adjusting etries
Dec 31 Supplies 5,500,000
supplies expense 5,500,000
31 salaries and wages expense 8,000,000
salaries and wagespayable 8,000,000
31 rent expense 8,000,000
prepaid rent 8,000,000
31 depreciation expense machine 500,000
acc depreciation machine 500,000
31 utilities expense 700,000
utilities payable 700,000
31 account receivable 4,500,000
service revenue 4,500,000
31 unearned revenue 8,000,000
service revenue 8,000,000
31 deprec expense equipment 500,000
acc depreciation equipment 500,000
31 insurance expense 500,000
prepaid insurance 500,000
closing entries
dec 31 service revenue 54,000,000
income summary 54,000,000
31 income summary 44,450,000
salaries and wages expense 14,000,000
service and maintenance expense 2,300,000
misc expense 250,000
utilities expense 1,900,000
insurance expense 500,000
supplies expense 16,500,000
rent expense 8,000,000
dep expense machine 500,000
 dep expense equipment 500,000
31 income summary 9,550,000
retained earnings 9,550,000
 LEDGER
CASH EQUIPMENT
1-Dec 500,000,000 2-Dec 24,000,000 4-Dec 30,000,000
5-Dec 1,000,000 3-Dec 60,000,000
9-Dec 3,500,000 3-Dec 3,000,000
11-Dec 2,000,000 4-Dec 30,000,000
14-Dec 2,500,000 6-Dec 300,000
21-Dec 12,000,000 10-Dec 250,000
23-Dec 10,000,000 13-Dec 5,000,000
29-Dec 5,000,000 15-Dec 6,000,000 ACCOUNT PAYABLE
31-Dec 2,500,000 18-Dec 1,200,000 13-Dec 5,000,000 4-Dec
19-Dec 6,000,000 19-Dec 6,000,000 9-Dec
20-Dec 4,000,000 27-Dec
25-Dec 2,000,000 11,000,000
BAL
538,500,000 141,750,000
BAL 396,750,000

UNEARNED REVENUE
adj 8,000,000 21-Dec
bal 4,000,000

MACHINE SHARE CAPITAL ORDINARY

3-Dec 60,000,000 1-Dec

PREPAID RENT
2-Dec 24,000,000 adj 8,000,000
bal 16,000,000

SERVICE REVENUE
5-Dec
PREPAID INSURANCE 8-Dec
3-Dec 3,000,000 adj 500,000 9-Dec
bal 2,500,000 11-Dec
17-Dec
22-Dec
29-Dec
31-Dec
BAL
SUPPLIES adj
Adj. entries 5,500,000 closing 54,000,000 bal
bal

deprec expense machine

adj 500,000 closing
bal -
ACCOUNT RECEIVABLE
8-Dec 2,500,000 14-Dec 2,500,000
17-Dec 15,000,000 23-Dec 10,000,000
22-Dec 10,000,000 deprec expense equipment
adj 500,000 closing
27,500,000 12,500,000 bal -
BAL 15,000,000
adj 4,500,000
bal 19,500,000
acc deprec machine
adj
utilities payable
adj 700,000

acc deprec equipment

adj
PMENT SALARIES AND WAGES EXPENSE
15-Dec 6,000,000
adj 8,000,000
bal 14,000,000 closing 14,000,000
bal -

SERVICE AND MAINTENANCE EXP

6-Dec 300,000
T PAYABLE 25-Dec 2,000,000
5,000,000 BAL 2,300,000 closing 2,300,000
6,000,000 bal -
7,000,000
18,000,000
7,000,000

MISC. EXPENSE
10-Dec 250,000 closing 250,000
bal -

D REVENUE
12,000,000

UTILITIES EXPENSE
18-Dec 1,200,000
AL ORDINARY adj 700,000
500,000,000 bal 1,900,000 closing 1,900,000
bal -

SUPPLIES EXPENSE
4-Dec 5,000,000 adj 5,500,000
REVENUE 9-Dec 6,000,000
1,000,000 20-Dec 4,000,000
2,500,000 27-Dec 7,000,000
3,500,000 BAL 22,000,000
2,000,000 bal 16,500,000 closing 16,500,000
15,000,000 bal -
10,000,000
5,000,000
2,500,000
41,500,000 Rent expense
12,500,000 adj 8,000,000 closing 8,000,000
 54,000,000 bal -
-

nse machine
500,000

salaries and wages payable

adj 8,000,000
se equipment
500,000

c machine insurance expense

500,000 adj 500,000 closing 500,000
bal -

equipment
500,000

retained earnings
closing 9,550,000
 WORKSHEET
Account Titles TB Adjusting Adj TB
Dr Cr Dr Cr Dr
cash 396,750,000 396,750,000
account receivable 15,000,000 4,500,000 19,500,000
machine 60,000,000 60,000,000
prepaid rent 24,000,000 8,000,000 16,000,000
prepaid insurance 3,000,000 500,000 2,500,000
equipment 30,000,000 30,000,000
account payable 7,000,000
unearned revenue 12,000,000 8,000,000
share capital 500,000,000
service revenue 41,500,000 12,500,000
salaries and wages expense 6,000,000 8,000,000 14,000,000
service and maintenance expense 2,300,000 2,300,000
misc. expense 250,000 250,000
utilities expense 1,200,000 700,000 1,900,000
insurance expense 500,000 500,000
supplies expense 22,000,000 5,500,000 16,500,000
supplies 5,500,000 5,500,000
salaries and wages payable 8,000,000
rent expense 8,000,000 8,000,000
depreciation expense machine 500,000 500,000
depreciation expense equipment 500,000 500,000
acc depreciaation machine 500,000
acc depreciation equipment 500,000
utilities payable 700,000
total 560,500,000 560,500,000 36,200,000 36,200,000 574,700,000
net income -
Adj TB IS SoFP
Cr Dr Cr Dr Cr
396,750,000
19,500,000
60,000,000
16,000,000
2,500,000
30,000,000
7,000,000 7,000,000
4,000,000 4,000,000
500,000,000 500,000,000
54,000,000 54,000,000
14,000,000
2,300,000
250,000
1,900,000
500,000
16,500,000
5,500,000
8,000,000 8,000,000
8,000,000
500,000
500,000
500,000 500,000
500,000 500,000
700,000 700,000
574,700,000 44,450,000 54,000,000 530,250,000 520,700,000
9,550,000 9,550,000
54,000,000 54,000,000 530,250,000 530,250,000
 AKHMAD LAUNNDRY AND CLEAN
Income Statement
for the month ended december 31, 2012
Revenue
service revenue 54,000,000
expense
salaries and wages expense 14,000,000
service and maintenance expense 2,300,000
misc expense 250,000
insurance expense 500,000
utilities expense 1,900,000
supplies expense 16,500,000
rent expense 8,000,000
deprec axpense machine 500,000
deprec expense equipment 500,000
totals expense 44,450,000
net income 9,550,000

AKHMAD LAUNNDRY AND CLEAN

Statement of Financial Position
for the month ended december 31, 2012
asset
current asset
cash 396,750,000
account receivable 19,500,000
prepaid rent 16,000,000
prepaid insurance 2,500,000
supplies 5,500,000
total current asset 440,250,000
non current asset
machine 60,000,000
less:acc depr machine (500,000)
equipment 30,000,000
less:acc deprec equipment (500,000)
total non current asset 89,000,000
total asset 529,250,000

equity and liabilities

equity
share capital 500,000,000
add:retained aernings 9,550,000
total equity 509,550,000
liabilities
account payable 7,000,000
unearned revenue 4,000,000
salaries and wages payable 8,000,000
utilities payable 700,000
total liabilities 19,700,000
total equity and liabilities 529,250,000
 AKHMAD LAUNNDRY AND CLEAN AKHMAD LAUNNDRY AND CLE
retained earnings statement statement of owner's equity
for the month ended december 31, 2012 for the month ended december 31
retained eanings, december 1 - share capital, dec 1
add: net income 9,550,000 add:retained earnings
less:dividends - share capital, dec 31
retained earnings, december 31 9,550,000
 AKHMAD LAUNNDRY AND CLEAN
statement of owner's equity
r the month ended december 31, 2012
500,000,000
9,550,000
509,550,000
 AKHMAD LAUNNDRY AND CLEAN
Post Closing Trial Balance
for the month ended december 31, 2012
cash 396,750,000
account receivable 19,500,000
machine 60,000,000
equipment 30,000,000
prepaid rent 16,000,000
prepaid insurance 2,500,000
supplies 5,500,000
utilities payable 700,000
acount payable 7,000,000
unearned revenue 4,000,000
share capital 500,000,000
acc deprec machine 500,000
acc deprec equipment 500,000
salaries and wages payable 8,000,000
retained earnings 9,550,000
totals 530,250,000 530,250,000