Professional Documents
Culture Documents
Journal
Date
Description
1-Sep Bank
Khan Auto's Capital
(Deposited Cash in Bank Account)
1-Sep Prepaid Rent
Cash
(Cash paid for rent in advance)
1-Sep Rental Equipment
Cash
Note Payable
(Purchased Equipment in Cash of 70,000 and
remaining on note payable at 9 % interest)
4-Sep Office Supplies
Account Payable (Modern Office Co.)
(Purchased office supplies on account)
8-Sep Cash
Unearned Rental Equipment Fee
(Recived Cash in advance on rental equipment)
12-Sep Salaries
Cash
(Salaries paid for two weeks )
15-Sep Cash
Debtors
Rental fee
(earned Revenue on rental fee )
17-Sep Maintenance Expense
Account Payable
(Repairing expenses incuured paymnet is due)
23-Sep Cash
Debtor's
(Amount collected on account of 15 sep)
27-Sep Account Payable
Cash
(Amount paid to earth move Inc,.)
28-Sep Khan Auto's Drawings
Bank
(Khan withdraw cash for personal use)
29-Sep Insurance Policy
Cash
(Paid Insurance policy)
Debit
Credit
100,000
100,000
9,000
9,000
180,000
70,000
110,000
1630
1630
10,000
10,000
3600
3600
5300
800
6100
340
340
210
210
340
340
2000
2000
2700
2700
270
270
8450
8450
324,640
324,640
Bank
1-Sep Khan Auto's Capital
100,000
28-Sep
100,000
Cash
Unearned Rental Equipment fee
Rental Fee
Account Recievable
Equipment Rental Fee
Bal.
10000
5300
210
8450
61680
85640
Prepaid Rent
Cash
9000
9000
Rental Equipment
Cash
Note payble
70,000
110,000
180,000
Note Payable
Bal.
110,000
110,000
Office Supplies
Account Payable
1630
1630
Account Payable
Cash
Bal.
340
1630
1970
10,000
10,000
Salaries
Cash
3600
3600
Account Recievable
Rental Fee
800
800
Rental Fee
Bal.
14550
14550
Mainteance Expense
Account Payable
340
340
2000
2000
Insurance Policy
Cash
2700
2700
Utility Expense
Bills Payable
270
270
Bills Payable
Bal.
270
270
Prepaid Rent
Eqiupment
Salaries
Account Payable
Insurance Policy
2000
98000
100,000
9000
70000
3600
340
2700
85640
Bank
100,000
100,00
Bal.
9000
9000
Bal.
180,000
180,000
Equipment
110,000
110,000
Bal.
1630
1630
Office Supplies
Maintenance Expense
1630
340
1970
Cash
10,000
10,000
Bal.
3600
3600
Cash
Bal.
210
590
800
Cash
Account Reciveable
Cash
5300
800
8450
14550
Bal.
340
340
Bal.
2000
2000
Bal.
2700
2700
Bal.
270
270
Utility
270
270
Khan Rental
Trial Balance
Account Title
Bank
Khan Auto's Capital
Prepaid rent
Cash
Rental Equipment
Note Payable
Office Supplies
Creditor's
Unearned Rental Fee
Salaries
Account Recieavle
Rental Fee
Maintenance Expense
Khan Auto's Drawings
Insurance
Utility Expense
Biils Payable
Total
Debit Credit
98,000
100,000
9,000
61680
180,000
110,000
1630
1630
10,000
3600
590
14550
340
2000
2700
270
270
298,130 298,130
Adjusting Entries
Date
a
Description
Rent Expense
Prepaid Expense
(Rent paid in advance has covered)
Interest Expense
Interest Payable
(interest Expense on notepayable)
Depreciation Expense
Accumulated Depreciation
(Depreciation on equipment)
Office Supplies Expense
Office Supplies
(Offic supplies cash on hand is 1100)
Unearned fee
Rental Fee
Debit Credit
3000
3000
825
825
1500
1500
530
530
4840
4840
Account Recievable
Rental Fee
500
Salaries Expense
Salaries Payable
900
500
900
12095
12095
Debit Credit
98000
61680
100,000
6000
180,000
110,000
1100
1630
5160
4500
1090
19890
340
2000
2700
270
270
825
1500
1500
825
530
900
3000
301855
301855
Income Statemnet
Amount (Rs.)
Revenue:
Rental Fee
Unearned fee
19890
Gross Profit
19890
Less Expenses:
Salaries
Maintenance Expense
Interest Expense
Depreciation Expense
Office Supplies Expense
Rent Expense
Net Profit
4500
340
825
1500
530
3000
10695
9195
Balance Sheet
Assets
Current Assets:
Bank
Account Receivale
Prepaid Rent
Cash
98000
1090
6000
-61680
43410
Fixed Assets:
Rental Equipment
Less: Acc. Depreciation
Office Supplies
Insurance Policy
Total
180000
-1500 178500
1100
2700
225710
Liabilities +Capital
Current Liabilities:
Account Payable
Unearned Fee
Interest Payable
Salaries Payable
1630
5160
825
900
8515
110,000
100,000
9195
109,195
-2000
107,195
Total
225710