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STARGATE TRAVEL AGENCY
ASSETS LIABILITIES OWNER's EQUITY
Cash Supplies Capital Drawing Revenues Expenses
1. $ 10,000 $ 10,000 2. $ (400) $ (400)3. $ (2,500) $ 2,500 4. $ 300 $ (300)5. $ (600) $ 600 6. $ 3,000 $ 6,500 $ 9,500 7. $ (200) $ (200)8. $ (300) $ (300)9. $ (2,200) $ (2,200)
10. $ 4,000 $ (4,000) $ 10,800 $ 2,500 $ 600 $ 2,500 $ - $ 10,000 $ (2,400) $ 9,500 $ (700)
Account
Receivable
Office
Equipment
Accounts
Payable
STARGATE TRAVEL AGENCYIncome Statement
Period April
IncomeService Revenue $ 9,500
Total Income $ 9,500
ExpensesOffice Rent Expense $ 400 Advertising Expense $ 300 Wages & Salaries Expense $ 2,200
Total Expenses $ 2,900 Net Income $ 6,600
PLUSH COSMETICS Co.Income Statement
Period June
IncomeService Revenue $ 6,000
Total Income $ 6,000
ExpensesSupplies Expense $ 1,600 Gasoline Expense $ 800 Utilities Expense $ 300 Advertising Expense $ 500
Total Expenses $ 3,200 Net Income $ 2,800
PLUSH COSMETICS Co.Owner's Equity Statement
Period June
Owner's Capital June 1 $ - Add: Investment $ 26,200
Net Income $ 2,800 $ 29,000
Less: Drawings $ (1,200)Equity on June 30 $ 27,800
PLUSH COSMETICS Co.Balance Sheet
Period June
ASSETS LIABILITIESCash $ 11,000 Account Payable $ 1,200 Account Receivable $ 4,000 Notes Payable $ 13,000 Supplies $ 2,000 Total Liabilities $ 14,200 Equipment $ 25,000 EQUITY
Owner's Capital $ 27,800 Total Equity $ 27,800
Total Assets $ 42,000 Total Liabilities Equity $ 42,000
PLUSH COSMETICS CoIncome Statement
Period June
IncomeService Revenue $ 6,800
Total Income $ 6,800
ExpensesAdvertising Expense $ 500 Supplies Expense $ 1,600 Gasoline Expense $ 900 Utilities Expense $ 300
Total Expenses $ 3,300 Net Income $ 3,500
PLUSH COSMETICS CoOwner's Equity Statement
Period June
Owner's Equity on June 1 $ - Add: Investment $ 26,200
Net Income $ 3,500 $ 29,700
Less: Drawings $ 3,500 Owner's Equity on June 30 $ 3,500
1-Jan-12Assets $ 80,000 $ 90,000 $ 124,000 $ 150,000 Liabilities $ 50,000 $ 40,000 $ 75,000 $ 50,000 Owner's Equity $ 30,000 $ 50,000 $ 49,000 $ 100,000
31-Dec-12Assets $ 95,000 $ 117,000 $ 180,000 $ 225,000 Liabilities $ 55,000 $ 72,000 $ 80,000 $ 80,000 Owner's Equity $ 40,000 $ 45,000 $ 100,000 $ 145,000
Owner's equity changes in yearAdditional investment $ 5,000 $ 8,000 $ 10,000 $ 15,000 Drawings $ 10,000 $ 28,000 $ 12,000 $ 10,000 Total revenue $ 350,000 $ 400,000 $ 413,000 $ 500,000 Total expenses $ 335,000 $ 385,000 $ 360,000 $ 460,000
Harpo Company
Curly Company
Groucho Company
Moe Company
HARPO COMPANYOwner's Equity StatementPeriod December 31, 2012
Owner's Capital January 1, 2012 $ 30,000 Add: Investment $ 5,000
Net Income $ 15,000 $ 20,000
Less: Drawing $ (10,000) $ (10,000)
Owner's Capital December 31, 2012 $ 40,000
EUCPAR MINIATURE GOLF and DRIVINGGeneral Journal
Period March
Date Account Title Ref. Debit Credit
March 1 Cash $ 50,000 Owner's Capital $ 50,000
March 3 Equipment $ 6,000 Building $ 9,000 Land $ 23,000
Cash $ 38,000 March 5 Advertising Expense $ 1,600
Cash $ 1,600 March 6 Prepaid Insurance $ 1,480
Cash $ 1,480 March 10 Equipment $ 2,600
Account Payable $ 2,600 March 18 Cash $ 800
Service Revenue $ 800 March 19 Cash $ 150
Unearned Service Revenue $ 150 March 25 Owner's Drawings $ 2,000
Cash $ 2,000 March 30 Salaries and Wages Expense $ 600
Cash $ 600 March 30 Account Payable $ 2,600
Cash $ 2,600 March 31 Cash $ 500
Service Revenue $ 500 Total $ 100,330 $ 100,330
EUCPAR MINIATURE GOLF and DRIVINGGeneral Journal
Period March
Jessica Alba ArchitectGeneral Journal
Period April 2012
Date Account Title Ref. Debit Credit
2012
April 1 Cash 101 $ 35,000 Owner's Capital 301 $ 35,000
April 2 Rent Expense 729 $ 800 Cash 101 $ 800
April 3 Supplies 126 $ 1,500 Account Payable 201 $ 1,500
April 10 Account Receivable 112 $ 1,200 Service Revenue 400 $ 1,200
April 11 Cash 101 $ 500 Unearned Service Revenue 209 $ 500
April 20 Cash 101 $ 1,500 Service Revenue 400 $ 1,500
April 30 Salaries and Wages Expense 726 $ 2,000 Cash 101 $ 2,000
April 30 Account Payable 201 $ 600 Cash 101 $ 600
Total $ 43,100 $ 43,100
Jessica Alba ArchitectLedger
Period April 2012
Account: Cash No.: 101
Date Explanation Ref. Debit Credit Balance
2012
April 1 Invested J1 $ 35,000 $ 35,000 2 Paid office rent J1 $ 800 $ 34,200
11 Received unearned revenue J1 $ 500 $ 34,700 20 Received service completed J1 $ 1,500 $ 36,200 30 Paid salaries J1 $ 2,000 $ 34,200 30 Paid Angel Company payable J1 $ 600 $ 33,600
Account: Account Receivable No.: 112
Date Explanation Ref. Debit Credit Balance
2012
April 10 Billed service revenue J1 $ 1,200 $ 1,200
Account: Supplies No.: 126
Date Explanation Ref. Debit Credit Balance
2012
April 3 Angel Company J1 $ 1,500 $ 1,500
Account: Account Payable No.: 201
Date Explanation Ref. Debit Credit Balance
2012
April 3 Purchased supplies credit J1 $ 1,500 $ 1,500 30 Paid supplies J1 $ 600 $ 900
Account: Unearned Service Revenue No.: 209
Date Explanation Ref. Debit Credit Balance
2012
April 11 Received on prepaid J1 $ 500 $ 500
Account: Owner's Capital No.: 301
Date Explanation Ref. Debit Credit Balance
2012
April 1 Invested J1 $ 35,000 $ 35,000
Account: Service Revenue No.: 400
Date Explanation Ref. Debit Credit Balance
2012
April 10 Received service J1 $ 1,200 $ 1,200 20 Received service J1 $ 1,500 $ 2,700
Account: Salaries and Wages Expense No.: 726
Date Explanation Ref. Debit Credit Balance
2012
April 30 Paid salaries of secretary J1 $ 2,000 $ 2,000
Account: Rent Expense No.: 729
Date Explanation Ref. Debit Credit Balance
2012
April 2 Paid office rent J1 $ 800 $ 800
Jessica Alba ArchitectTrial Balance
Period April 2012
No. AccountName Account Debit Credit
101 Cash $ 33,600
112 Account Receivable $ 1,200
126 Supplies $ 1,500
201 Account Payable $ 900
209 Unearned Service Revenue $ 500
301 Owner's Capital $ 35,000
400 Service Revenue $ 2,700
726 Salaries and Wages Expense $ 2,000
729 Rent Expense $ 800 Total $ 39,100 $ 39,100
