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Khan Rental

JournalDate Description Debit Credit

1-SepBank 100,000 Khan Auto's Capital 100,000

(Deposited Cash in Bank Account

1-Sep!repaid Rent ",000

Cash ",000

(Cash paid #or rent in ad$ance

1-SepRental %&uipent 10,000

Cash )0,000

*ote !a+able 110,000

(!urchased %&uipent in Cash o# )0,000 and

reainin on note pa+able at " interest

.-Sep/ce Supplies 120

Account !a+able (3odern /ce Co4 120

(!urchased oce supplies on account

-Sep Cash 10,000

5nearned Rental %&uipent 6ee 10,000

(Reci$ed Cash in ad$ance on rental e&uipent

17-SepSalaries 200

Cash 200

(Salaries paid #or t8o 8eeks

19-Sep Cash 9200

Debtors 00

Rental #ee 100

(earned Re$enue on rental #ee

1)-Sep 3aintenance %:pense 2.0

Account !a+able 2.0

(Repairin e:penses incuured pa+net is due

72-Sep Cash 710

Debtor's 710

(Aount collected on account o# 19 sep

7)-Sep Account !a+able 2.0

Cash 2.0(Aount paid to earth o$e ;nc,4

7-Sep Khan Auto's Dra8ins 7000

Bank 7000

(Khan 8ithdra8 cash #or personal use

7"-Sep ;nsurance !olic+ 7)00

Cash 7)00

(!aid ;nsurance polic+

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20-Sep 5tilit+ %:pense 7)0

Bills pa+able 7)0

(5tilit+ %:pense incurred aount is due

20-Sep Cash .90

%&uip8nt Rental 6ee .90

(Cash recei$ed #or Rental e&uipent

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Bank

1-Sep Khan Auto's Capital 100,000

7-Sep

100,000

Cash

5nearned Rental %&uipent #ee 10000

Rental 6ee 9200

Account Recie$able 710

%&uipent Rental 6ee .90

Bal4 109.0

Khan Auto's Capital

100,000

100,000

Prepaid Rent

Cash "000

"000

Rental Equipment

Cash )0,000

*ote pa+ble 110,000

10,000

ote Pa!a"le

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Bal4 110,000

110,000

#$%e &upplies

Account !a+able 120

120

A%%ount Pa!a"le

Cash 2.0

Bal4 120

1")0

nearned Renatl (ee

Bal4 10,000

10,000

&alaries

Cash 200

200

A%%ount Re%ie)a"le

Rental 6ee 00

00

Rental *ee

Bal4 1.990

1.990

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+aintean%e Epense

Account !a+able 2.0

2.0

Khan Auto's -ra.in/s

Bank 7000

7000

nsuran%e Poli%!Cash 7)00

7)00

tilit! Epense

Bills !a+able 7)0

7)0

Bills Pa!a"le

Bal4 7)0

7)0

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Khan Auto's Dra8ins 7000

Balance "000100,000

!repaid Rent "000

%&iupent )0000

Salaries 200

Account !a+able 2.0

;nsurance !olic+ 7)00

9.0

Bank 100,000

100,00

Bal4 "000

"000

Bal4 10,000

10,000

%&uipent 110,000

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110,000

Bal4 120

120

/ce Supplies 120

3aintenance %:pense 2.0

1")0

Cash 10,000

10,000

Bal4 200

200

Cash 710

Bal4 9"0

00

Cash 9200

Account Reci$eable 00

Cash .90

1.990

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Bal4 2.0

2.0

Bal4 7000

7000

Bal4 7)00

7)00

Bal4 7)0

7)0

5tilit+ 7)0

7)0

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Khan Rental

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Ad1ustin/ Entries

Date Description Debit Credita Rent %:pense 2000

!repaid %:pense 2000(Rent paid in ad$ance has co$ered

b ;nterest %:pense 79

;nterest !a+able 79

(interest %:pense on notepa+able

c Depreciation %:pense 1900

Accuulated Depreciation 1900

(Depreciation on e&uipent

D /ce Supplies %:pense 920

/ce Supplies 920

(/c supplies cash on hand is 1100

e 5nearned #ee ..0

Rental 6ee ..0

# Account Recie$able 900

Rental 6ee 900

Salaries %:pense "00

Salaries !a+able "00

170"9 170"9

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Ad1usted rial Balan%e

Account

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n%ome &tatemnet

Aount (Rs4

Re$enue=

Rental 6ee 1""0

5nearned #ee

>ross !ro?t 1""0

@ess %:penses=

Salaries .900

3aintenance %:pense 2.0

;nterest %:pense 79

Depreciation %:pense 1900

/ce Supplies %:pense 920

Rent %:pense 2000 10"9

*et !ro?t "1"9

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Balan%e &heet

Assets

Current Assets=

Bank "000Account Recei$ale 10"0

!repaid Rent 000

Cash -10

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@iabilities Capital

Current @iabilities=

Account !a+able 1205nearned 6ee 910

;nterest !a+able 79

Salaries !a+able "00