1. Invested $70000 in business. 2.

business purchased supplies and carpet the amount of supplies 500 and the amount of carpet was $50 paid in cash 3. The advertising of business on cash of 200 4. The business collected loan from bank of 8000 5. The business purchased truck of 9000 in cash 6. Business purchased 100 computer systems of 60000. The business pay 30000 in cash and the rest of amount will after 3 week 7. Business purchased supplies of $500 and write on note that will return after the week 8. Business draw of 600 for personal use 9. Business paid loan to bank which collect on 4 sep 10.Business sold 20 computer systems of 7000 11.Business purchased office furnishing of 400 paid in note payable 12.Business sold 5 computer on account receivable 1750 13.Business again invested cash of $20000 in business 14.Business received gas bill of $200 15.Business draw of $500 cash for personal use 16.Business purchased land of 10000 on cash 17.Business pay account payable which he purchased computer systems on 6 sep 18.Business pay salary to employee of 200 19.Business pay account payable which received gas bill 200 20.Business sold 35 computer 12500 on cash 21.Business pay rent exp of 500 for office 22.Business purchased 50 computer system of 30000 and sign 23.Business received electrical bill of 120 24.Business draw of $500 for personal use 25.Business received telephone bill of $50 26.Business collected account receivable which sold computer on 12 sep 27.Business pay account payable which received electrical bill on 23 sep 28.Business pay account received which received telephone bill on 25 sep 29.Business pay transport exp of 50 30.Purchased office furnishing of $500 in cash

SAFI INTERNATIONAL COMPUTERS GENERAL JOURNAL 30 SEP 2011

Date 1 Cash Capital
Capital invested cash on a business

Description

Re f

$ Dr 70000

$ Cr

70000 500 50

Supplies Carpet cash

purchased supplies and carpet on cash

550 200 200 8000

Advertisement exp Cash

Advertisement exp on cash

cash A/P
Business collected loan from bank

8000 9000

Truck Cash
purchased truck on cash

9000 60000 30000 30000 500 500 600 Cash 600 8000 8000 7000 7000 400 400

Computer system A/P cash

purchased computer system on A/P and cash

Supplies N/P
Purchased supplies on note payable

Drawing
Owner draw with business for personal use

9 10

Acc/Payable Cash
Paid account payable on cash

Cash Revenue
Cash received by revenue

11

Office furnishing N/P

Office furnishing on note payable

Date 12

Description Account/receivable Revenue

Earned revenue on acc receivable

Ref

$ Dr 1750

$ Cr 1750

13

cash capital
owner invest in business

20000 20000 200 Account payable 200 500 500 1,0000 Cash 1,0000 30000 30000 200 200 200 200 12500 revenue 12500 500 Cash 500 30000 N/P 30000 120 A/P 120 500 Cash 500 50 A/P 50

14

Gas bill expense

Received gas bill on account payable

15

Personal Drawing cash

owner personal draw with business for personal use

16

land
Purchased land on cash

17 18

Pay account payable cash

pay acc payable on cash

employee exp cash

pay salaries to employee on cash

19

Acc/Payable cash
pay account payable on cash

20

Cash
Collected cash form revenue

21

Rent exp.
Paid rent of building

22

Computer sys
Purchased computer sys on note payable

23

Electric exp.
Received electric bill on acc payable

24

Drawing
Owner draw the cash for personal use

25

Telephone exp
Received telephone bill on acc payable

Date 26

Description cash Account receivable

Collected cash on acc receivable

Ref

$ Dr 1750

$ Cr 1750

27

Acc/payable Cash
Paid the electric exp

120 120 50 Cash 50 50 50 500 Cash 500

28 29

Acc/payable
Paid the gas exp

Transport exp cash

paid transport exp

30

Office furnishing
Office furnishing on cash

Cash Ledger Account Dr Date

1 4 10 13 20 26

Cr Description Capital Acc/pay Revenue Capital Revenue Acc/receivable Amount Date 70000 8000 7000 20000 12500 1750 2 3 5 6 8 9 15 16 17 18 19 21 24 27 28 29 30 Description Supp/carpet Advisement exp Truck Com/acc .pay Drawing Acc/pay Drawing Land A/P Sal exp Acc/pay Rent exp Drawing Acc/pay Acc/pay Transport exp Office Total balance c/d Total Amount 550 200 9000 30000 600 8000 500 10000 30000 200 200 500 500 120 50 50 500 28280
119250

Total

119250

Balance b/d

28280

Capital Ledger Account Dr Date Description Cr Amount Date Description Amount

1 13

Cash Cash

70000 20,000

Total balance c/d Total

90000 90000 Total 90000

Balance b/d 90000

Supplies Ledger Account Dr Date

2 7

Cr Description Carpet/cash N/P Amount Date Description 500 500 Amount

Total

1000

Total balance c/d Total

1000 1000

Balance b/d

1000

CARPET Ledger Account Dr Date Description

2

Cr Amount Date 50 Description Amount

Cash/supp

Total

50

Total balance c/d Total

50 50

Balance b/d

50 Truck Ledger Account

Dr Date Description Amount

5

Cr Date Description Amount

Cash

9000

Total

9000

Total balance c/d Total

9000 9000

Balance b/d

9000

Advisement exp Ledger Account Dr Date Description Amount

3

Cr Date Description Amount

Cash

200

Total Balance b/d 200

200

Total balance c/d Total

200 200

Computers Ledger Account Dr Date Description Amount

6 22

Cr Date Description Amount

Cash /A.P N/P

60000 30000

Total balance c/d Total 90000 Total

90000 90000

Balance b/d

90000

Revenue Ledger Account Dr Date Description Amount Date

10 12 20

Cr Description Cash Account receivable Cash Amount 7000 1750 12500

Total balance c/d Total

21250 21250

Total Balance b/d 21250

21250

Electricity Ledger Account Dr Date Description

23

Cr Amount Date Description Amount

Account payable 120

Total

120

Total balance c/d Total

120 120

Balance b/d

120

Account payable

Ledger Account Dr Date

9 17 27 28

Cr Description Cash Cash Cash cash Amou nt 8000 30000 120 50 Date
4 6 14 23 25

Description Cash Com/Cash Gas exp Elect exp Tele exp

Amount 8000 30000 200 120 50

Total balance c/d Total

200 38370 Total Balance b/d 38370 38370

Office Furnishing Ledger Account Dr Date

11 30

Cr Description Amount A/P cash 200 200 Date Description Amount

Total

400

Total balance c/d Total

400 400

Balance b/d

400

NOTE PAYABLE Ledger Account Dr Date Description Amount Date Cr Description Amount Supplies Office equip computers 500 400 30000

7 11
22

Total balance c/d Total

30900

30900

Total Balance b/d

30900 30900

Telephone Ledger Account Dr Date Description

25

Cr Amount Date Description Amount

Account payable 50

Total

50

Total balance c/d Total

50 50

Balance b/d

50

Drawing Ledger Account D Date

8 15 24

Cr Description Cash Cash cash Amount Date 600 500 500 Description Amount

Total

1600

Total balance c/d Total

1600 1600

Balance b/d

1600 Gas exp Ledger Account

Dr Date Description
14 19

Cr Amount Date 200 200 Description Amount

A/P Cash

Total

400

Total balance c/d Total

400 400

Balance b/d

400

LAND Ledger Account Dr Date Description Amount

16

Cr Date Description Amount

cash

10000

Total

10000

Total balance c/d 10000 Total 10000

Balance b/d

10000 Salary exp Ledger Account

Dr Date Description Amount

18

Cr Date Description Amount

Cash

200

Total

200

Total balance c/d 200 Total 200

Balance b/d

200

Rent Ledger Account Dr Date Description Amount

21

Cr Date Description Amount

Cash

500

Total

500

Total balance c/d 500 Total 500

Balance b/d

500

Account Receivable Ledger Account Dr Date Description Amount

12

Cr Date
26

Description Amount Cash 1750

computer

1750

Total

1750

Total

1750

Balance b/d

Transport exp. Ledger Account Dr Date Description Amount

29

Cr Date Description Amount

Cash

50

Total

3000

Total balance c/d Total

50 50

Balance b/d

50

TRIAL BALANCE
ITEMS 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 cash Capital supplies carpet Adv exp A/P Truck Computers N/P Drawings Revenue Office furnishing A/R Gas exp Land Salary exp Rent exp Elect exp Telephone exp Transport exp 900 0 400 10000 200 500 120 50 50 0 1600 21250 9000 90000 30900 1000 50 200 200 $DR 28280 90000 $CR

Total

142350

142350

ADJUSTING ENTRY 1. Life of truck is 5 year 2. Life of land is 4 year 3. Life of office furnishing is 2year Truck Yearly depreciation exp of truck = 9000/5=1800 Monthly depreciation exp of truck =1800/12=150 Land Yearly depreciation exp of land =10000/4=2500 Monthly depreciation exp of land=2500/12=208 Office furnishing Yearly depreciation exp of off furnishing=900/2=450 Monthly depreciation exp of off furnishing=450/12=37

ADJUSTING ENTRY
Description
1

$DR 150

$CR

Truck depreciation exp Truck acc depreciation

150 208 208 37 37

Land depreciation exp Land acc depreciation

Office furnishing depreciation exp Office furnishing acc depreciation

ADJUSTED TRIAL BALANCE ITEMS CASH CAPITAL SUPPLIES CARPET ADVIS EXP ACC/PAY TRUCK COMPUTER NOTE/PAYABLE DRAWING REVENUE OFFICE FURNISHING ACC/RECEIVABLE GAS EXP LAND SALARIES EXP RENT EXP ELECTRIC EXP TELEPHONE TRANSPORT EXP TRUCK DEP EXP TRUCK ACC DEP LAND DEP EXP LAND ACC DEP OFFICE FURNISHING EXP OFFICE FURNISHING ACC DEP TOTAL $DR 28280 1000 50 200 200 9000 90000 30900 1600 21250 900 0 400 10000 200 500 120 50 50 150 208 208 37 37 142745 142745 0 400 10000 $CR 90000

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26

150

SAFI INTERNATIONAL COMPUTERS INCOME STATEMENT FOR THE MONTH ENDED 30 SEP 2011 Revenue Advisement exp Gas exp Salaries exp Rent exp Electric exp Telephone exp Transport exp Truck depreciation exp Land depreciation exp Office depreciation exp 200 400 200 500 120 50 50 150 208
37

21250

NET INCOME

( 1915) 19335

SAFI INTERNATIONAL COMPUTERS STATEMENT OF OWNER EQUITY FOR THE MONTH ENDED 30 SEP 2011 INVESTMENT BY SAFI NET INCOME 9000 19335 109335

LESS DRAWING CAPITAL

(1600) 107735

SAFI INTERNATIONAL COMPUTERS BALANCE SHEET 30 SEP 2011

Asset
Cash Truck
Less

Liability & Owner Equity

28280 9000 (150) 5000 (208) 9792 300 8850

Liability
Account payable Notes payable 200 30900 31100

Acc dep.

Land
Less

Acc dep.

Office equipment Office furnish. 900

Less

Owner Equity
Capital 107735

Acc dep.

(37)

863 19800 50 1000

Computers Carpet Office supplies

Total

138835

Total

138835