1-May

2-May
3-May
5-May
9-May
12-May
15-May
16-May
20-May
23-May
26-May
27-May
28-May
29-May
30-May
Michelle Invested Paid $15,000 cash in the business
Paid $900 for the office rent for the month
Purchased $600 of supplies on account
Paid $ 125.00 check to advertise in the Daily News.
Received $ 4,000 cash for services provided
Withdrew $1,000 cash for personal use
Performed $6,400 of services of which $3,000 was on account
Hired Jennie DuWop as her personal assistant at a salary of $2,500 per month
Paid $400.00 towards supplies purchased on account on Mat 3rd
Received a cash payment of $1,500 for services provided on account on May 1
Borrowed $5,000 from the bank and signed a prommasry note to repay
Purchased office equipment for 3,100 on account
Paid her personel hair stylist $350.00 using her business cash account
Paid $175 for Utilities
Paid $2,500 for employee salaries
 Account Type
$15,000 Asset Cash
$900 Asset Cash
$600 Asset Supplies
$125 Asset Cash
$4,000 Asset Cash
$1,000 Asset Cash
$6,400 $3,000.00 ### Asset Cash (3,400)
$2,500
$400 Asset Cash
$1,500 Asset Cash
$5,000 Asset Cash
Office
$3,100 Asset Equipment
$350 Asset Cash
$175 Asset Cash
$2,500 Asset Cash
T-Account Account
Owners Type T-Account Account
Debit Equity Capital Credit
Credit Expenses Office Rent Expenses Debit
Debit Liabilities Accounts Payable Credit
Credit Expenses Advertising Expense Debit
Debit Revenue
Owners Consulting Revenue Credit
Credit Equity Withdrawls
Accounts Recievable Debit Revenu
Debit Asset (3,000) Debit e

Credit Liabilities Accounts Payable Debit

Debit Asset Accounts Recievable Credit
Debit Liabilities Notes Payable Credit
Debit Liabilities
Owners Accounts Payable Credit
Credit Equity Withdrawls Debit
Credit Expenses Utilities Expense Debit
Credit Expenses Salaries Expense Debit
Type T-Account

Consulting Revenue
(6,400) Credit
 Charts of Accounts

Assets Owner Equity

100 Cash 290 Athena Lu, Capital
110 Accounts Recievable 295 Athena Lu, Drawings
120 Office Supplies
130 Office Equipment

Expenses Liabilities
400 Rent Expenses 200 Accounts Payable
410 Advertising Expense 210 Notes Payable
420 Office Salaries Expense
 Revenue
300 Real Estate Commision
 A
100
Cash Accounts Recievable
Date D C Date Date D C
1-May $15,000 $900 2-May 15-May $3,000 $1,500
9-May $4,000 $125 5-May
15-May $3,400 $1,000 12-May
23-May $1,500 $400 20-May
26-May $5,000 $350 28-May
$175 29-May
$2,500 30-May
### $5,450.00 $3,000.00 $1,500.00
Total ### Total $1,500.00

Ex
Rent Expenses Advertising Expense
Date D C Date Date D C
2-May $900 5-May $125

$900.00 $0.00 $125.00 $0.00

Total $900.00 Total $125.00

Lia

Accounts Payable Notes Payable

Date D C Date Date D C
20-May $400 $600 3-May 26-May $5,000
$3,100 27-May

$400.00 $3,700.00 $0.00 $5,000.00

Total $3,300.00 Total $5,000.00
 Own

Athena Lu, Capital Athena Lu, Drawings

Date D C Date Date D C
$15,000 1-May 12-May $1,000
28-May $350

$0.00 ### $1,350.00 $0.00

Total ### Total $1,350.00

Re

Real Estate Commision

Date D C Date
$4,000 9-May
$6,400 15-May

$0.00 ###
Total ###
 Assets

Office Equipment Office Suppl

Date Date D C Date Date
23-May 27-May $3,100 3-May

$3,100.00 $0.00
Total $3,100.00 Total

Expenses
Office Salaries Expense
Date Date D C Date Date
30-May $2,500 29-May

$2,500.00 $0.00
Total $2,500.00 Total

Liabilities

Date
 Owner Equity

Date

Revenue
Office Supplies
D C Date
$600

### $0.00
###

D C Date

$0.00 $0.00
$0.00
 Trial Balance
Account # Account Title Debit Credit
Cash $23,450.00
Accounts Recievable $1,500.00
Office Equipment $3,100.00
Office Supplies $600.00
Rent Expenses $900.00
Advertising Expense $125.00
Office Salaries Expense $2,500.00
0 $0.00
Accounts Payable $3,300.00
Notes Payable $5,000.00
Athena Lu, Capital $15,000.00
Athena Lu, Drawings $1,350.00
Real Estate Commision $10,400.00

Total ### ###

Debits = Credits
 Income Statement

Revenue
Real Estate Commision $10,400.00

Expenses
Rent Expenses $900.00

Advertising Expense $125.00

Office Salaries Expense $2,500.00

0 $0.00

Total Expenses $3,525.00

Net Income $6,875.00

Revenue - Expenses = Net Income

 Statement of Owners Equity

Add: Investments $15,000.00

Add: Net Income $6,875.00

Less: Withdrawls $1,350.00

M.Rodriguez, Capital May 31st $20,525.00

y
 Income Statement

Assets
Cash $23,450.00
Accounts Recievable $1,500.00
Office Equipment $3,100.00
Office Supplies $600.00

Total Assets $28,650.00

Assets = Liabilities + Owners Equity

tatement

Liabilities
Accounts Payable $3,300.00
Notes Payable $5,000.00

Total Liabilities ###

Owner's Equity
M.Rodriguez, Capital May 31st ###
Total Liabilities & Owners Equity ###