Account Sheet

Student ID:
FlixCity & Gaming

General Journal
for July 2016
Date Jnl Ref Account & Journal Details
Day Month
1 July 1 240 - Wages Payable
100 - Cash at Bank
Paid Wages for june
1 July 2 602 - Candy Bar Expense
200 - Accounts Payable
Used credit to purchase confectionary for candy bar
1 July 3 100 - Cash at Bank
210 - Unearned Revenue
Received deposits for July gaming session
4 July 4 613 - Leasing Expense - gaming furniture
100 - Cash at Bank
July leasing instalment for gaming furniture
5 July 5 602 - Candy Bar Expense
Bought popcorn on credit
7 July 6 618 - Wages Expense
240 - Wages Payable
Weekly wage that is payable
110 - Accounts Receivable
Received payment from SmarMedia for last month
10 July 8 170 - Equipment
100 - Cash at Bank
Purchased laptop for office
240 - Wages Payable
Weekly wage payable
15 July 10 140 - Prepaid Insurance
100 - Cash at Bank
Prepaid insurance premium for next 12 months
17 July 11 614 - Licensing Expense - Nintendo
100 - Cash at Bank
Licensing agreement fee to Nintendo
18 July 12 617 - Stationery & Office Supplies Expense
100 - Cash at Bank
Purchased office supplies
19 July 13 130 - Prepaid Advertising
100 - Cash at Bank
Advertising contract fees for 12 months
20 July 14 615 - Licensing Expense - Sony
100 - Cash at Bank
Sony's licensing agreement fee
240 - Wages Payable
(Weekly wage payable)
23 July 16 220 - Interest Payable
230 - Loan Payable - principal due May 2030
100 - Cash at Bank
Paid CBA loan repayment
24 July 17 250 - Utilities Payable
100 - Cash at Bank
Paid electricity bill
25 July 18 612 - Leasing Expense - cinema seating/screen
100 - Cash at Bank
Paid monthly leasing instalment for theatre seating and screen
240 - Wages Payable
(Weekly wage payable)
400 - Sales - Cinema
Total cinema's cash sale for the month
401 - Sales - Gaming
Total gaming cash sales for the month
402 - Sales - Candy Bar
Total candy bar sales for the month
31 July 23 200 - Accounts Payable
100 - Cash at Bank
Paid amount owing to Kernals & Korn
31 July 24 200 - Accounts Payable
100 - Cash at Bank
Paid amount owing to Lollies RUS
31 July 25 110 - Accounts Receivable
Total month cinema credit sales
31 July 26 600 - Accounting Fees
Received accountant's invoice for 2016 work
31 July 27 301 - Nicholas Robbins, Drawings
100 - Cash at Bank
Redrew capital
JOURNAL TOTALS
45376115
Entries
Dr Cr
2,550.00
2,550.00
2,759.34 HINTS:
2,759.34 1 Journals should be prepared in the same sequence as the tra
2 Journal Reference Numbers should correspond to the transac
2,150.00
3 When there are multiple accounts required for debit or credit
2,150.00 ascending account number order;
4 Do not enter $ signs & do not round amounts - express values
450.00 5 Do not leave blank lines between journals;
450.00 NB: Take care with your journal entries. If you select the inco
your T-Accounts will be wrong when you post your entries to
1,855.29 accept incorrect $ values.
1,855.29
1,100.00
1,100.00
2,800.00
2,800.00
2,500.00
2,500.00
1,100.00
1,100.00
3,060.00
3,060.00
950.00
950.00
675.25
675.25
2,400.00
2,400.00
1,500.00
1,500.00
1,100.00
1,100.00
3,200.00
1,000.00
4,200.00
1,650.00
1,650.00
1,150.00
1,150.00
seating and screen
1,100.00
1,100.00
12,147.36
12,147.36
9,458.27
9,458.27
11,698.14
11,698.14
2,175.35
2,175.35
4,350.85
4,350.85
3,428.54
3,428.54
2,350.00
2,350.00
680.00
680.00
81,338.39 81,338.39
he same sequence as the transactions are presented;
uld correspond to the transaction numbers;
s required for debit or credit entries within a journal, ensure they appear in
r;
und amounts - express values in dollars & cents;
n journals;
entries. If you select the incorrect accounts for your transaction journals, then
when you post your entries to them & your 10-Column Worksheet will not
Student ID: 45376115
ASSET ACCOUNTS
100 - Cash at Bank

Date Date
Explanation Amount
2016 2016
1-Jul Opening Balance 10,763.20 1-Jul
1-Jul Unearned revenue 2,150.00 4-Jul
9-Jul Accounts Receivable 2,800.00 10-Jul
31-Jul Sales - Cinema 12,147.36 15-Jul
31-Jul Sales - Gaming 9,458.27 17-Jul
31-Jul Sales - Candy Bar 11,698.14 18-Jul
19-Jul
20-Jul
23-Jul
24-Jul
25-Jul
31-Jul
31-Jul
31-Jul
Balance c/d
(difference)
TOTAL 49,016.97 TOTAL
Balance b/d 20,725.52
130 - Prepaid Advertising

Date Date
Explanation Amount
2016 2016
1-Jul Opening Balance 1,000.00 31-Jul
19-Jul Cash at Bank 2,400.00
Balance c/d
(difference)
140 - Prepaid Insurance

Date Date
Explanation Amount
2016 2016
1-Jul Opening Balance 798.59 31-Jul
Balance c/d
(difference)
160 - Building
Date Date
Explanation Amount
2016 2016
1-Jul Opening Balance 125,000.00
Balance c/d
(difference)
170 - Equipment
Date Date
Explanation Amount
2016 2016
1-Jul Opening Balance 250,000.00
Balance c/d
(difference)
LIABILITY ACCOUNTS

Date Date
Explanation Amount
2016 2016
31-Jul Cash at Bank 2,175.35 1-Jul
5-Jul
31-Jul
Balance c/d
(difference) 10,024.81
Balance b/d
220 - Interest Payable

Date Date
Explanation Amount
2016 2016
31-Jul
Balance c/d
3,400.50
(difference)
Balance b/d
240 - Wages Payable

Date Date
Explanation Amount
2016 2016
7-Jul
14-Jul
21-Jul
28-Jul
Balance c/d

Balance b/d
EQUITY ACCOUNTS
300 - Nicholas Robbins, Capital

Date Date
Explanation Amount
2016 2016
31-Jul Closing off Drawings 680.00 1-Jul
31-Jul
Balance c/d

Balance b/d
REVENUE ACCOUNTS

Date Date
Explanation Amount
2016 2016
31-Jul P&L Summary 15,575.90 1-Jul
31-Jul
31-Jul
Balance c/d
0.00
(difference)
Balance b/d

Date Date
Explanation Amount
2016 2016
31-Jul P&L Summary 11,698.14 1-Jul
31-Jul
Balance c/d
(difference) 0.00
Balance b/d
EXPENSE ACCOUNTS
600 - Accounting Fees

Date Date
Explanation Amount
2016 2016
31-Jul Accounts Payable 2,350.00
Balance c/d
(difference)
Balance b/d 0.00
602 - Candy Bar Expense

Date Date
Explanation Amount
2016 2016
Balance c/d
(difference)
Balance b/d 0.00
604 - Depreciation Expense - Building

Date Date
Explanation Amount
2016 2016
Accumulated Depreciation -
31-Jul 250.00
Building
Balance c/d
(difference)
TOTAL 250.00 TOTAL
Balance b/d 0.00
608 - Utilities Expense

Date Date
Explanation Amount
2016 2016
31-Jul Utilities Payable 635.00
Balance c/d
(difference)
TOTAL 635.00 TOTAL
Balance b/d 0.00
610 - Insurance Expense

Date Date
Explanation Amount
2016 2016
31-Jul Prepaid Insurance 255.00
Balance c/d
(difference)
TOTAL 255.00 TOTAL
Balance b/d 0.00
612 - Leasing Expense - Cinema Seating & Screen

Date Date
Explanation Amount
2016 2016
Balance c/d
(difference)
Balance b/d 0.00
614 - Licensing Expense - Nintendo

Date Date
Explanation Amount
2016 2016
17-Jul Cash at Bank 950.00
Balance c/d
(difference)
TOTAL 950.00 TOTAL
Balance b/d 0.00
618 - Wages Expense
Date Date
Explanation Amount
2016 2016
7-Jul Wages Payable 1,100.00
Balance c/d
(difference)
Balance b/d 0.00
PROFIT & LOSS SUMMARY
800 - P&L Summary Account

Date Date
Explanation Amount
2016 2016
31-Jul Closing off Expenses 23,355.38
31-Jul Close to P&L Summ 14,661.93
Balance c/d
(difference)
Balance b/d 0.00
nk
Date
Explanation Amount
2016
Wages Payable 2,550.00 1-Jul
Leasing Expense - gaming
Equipment 450.00 31-Jul
furniture -
computer/console/candybar 2,500.00
/projector
Prepaid Insurance 3,060.00
Licensing Expense -
950.00
Nintendo
Stationery & Office Supplies
675.25
Expense
Prepaid Advertising 2,400.00
Licensing Expense - Sony 1,500.00
Interest Payable & Loan
4,200.00
Payable
Utilities Payable 1,650.00
Leasing Expense - cinema
1,150.00
seating/screen
Accounts Payable 2,175.35
Nicholas Robbins,
680.00
Drawings
20,725.52
49,016.97 TOTAL
Balance b/d
tising
Explanation Amount
Advertising Expense 200.00
3,200.00
3,400.00
ance
Date
Explanation Amount
2016
Insurance Expense 255.00 1-Jul
3,603.59
3,858.59 TOTAL
Balance b/d
165 - Ac
Date
Explanation Amount
2016
Balance c/d
125,000.00
(difference)
125,000.00 TOTAL
nt 175 - Acc
Date
Explanation Amount
2016
Balance c/d
252,500.00
(difference)
252,500.00 TOTAL
yable
Date
Explanation Amount
2016
Opening Balance 9,586.38 31-Jul
Candy Bar Expense 2,759.34 31-Jul
Candy Bar Expense 1,855.29 31-Jul
Accounting Fees 2,350.00
Balance c/d
(difference)
16,551.01 TOTAL
10,024.81
able
Date
Explanation Amount
2016
Interest Expense 3,400.50
Balance c/d
(difference)
6,600.50 TOTAL
3,400.50
able
Date
Explanation Amount
2016
Wages Expense 1,100.00
Balance c/d
(difference)
6,950.00 TOTAL
4,400.00
s, Capital 301
Date
Explanation Amount
2016
Closing off P&L Summ 14,661.93 31-Jul
56,077.61 TOTAL
55,397.61 Balance b/d
ma
Date
Explanation Amount
2016
Opening Balance 0.00 31-Jul
Cash at Bank 12,147.36
Accounts Receivable 3,428.54
Balance c/d
(difference)
15,575.90 TOTAL
0.00
y Bar
Explanation Amount
Opening Balance 0.00
11,698.14
0.00
Fees
Date
Explanation Amount
2016
P&L Summary 2,350.00 1-Jul
31-Jul
0.00
2,350.00 TOTAL
Balance b/d
pense 603 - C
Date
Explanation Amount
2016
0.00
4,614.63 TOTAL
Balance b/d
se - Building 60
Date
Explanation Amount
2016
P&L Summary 250.00 1-Jul
31-Jul
0.00
250.00 TOTAL
Balance b/d
ense
Explanation Amount
P&L Summary 635.00
0.00
635.00
pense
Date
Explanation Amount
2016
31-Jul
0.00
255.00 TOTAL
Balance b/d
Seating & Screen 613 - Lea

Date
Explanation Amount
2016
4-Jul
0.00
1,150.00 TOTAL
Balance b/d
- Nintendo 615
Date
Explanation Amount
2016
20-Jul
0.00
950.00 TOTAL
Balance b/d
617
Date
2016
1-Jul
18-Jul
TOTAL
Balance b/d
nse
Explanation Amount
P&L Summary 4,400.00
0.00
4,400.00
Account
Explanation Amount
Closing off Revenue 38,017.31
0.00
38,017.31
Date
Explanation Amount Explanation
2016
Opening Balance 4,385.27 9-Jul Cash at Bank
Sales - Cinema 3,428.54
Balance c/d
(difference)
7,813.81 TOTAL
5,013.81
150 - Land
Date
2016
Opening Balance 717,580.00
Balance c/d
(difference)
717,580.00 TOTAL
717,580.00
165 - Accumulated Depreciation - Building

Date
2016
1-Jul Opening Balance
Depreciation Expense -
31-Jul
Building
15,875.00
15,875.00 TOTAL
Balance b/d
175 - Accumulated Depreciation - Equipment

Date
2016
Depreciation Expense -
31-Jul
Equipment
127,525.00
127,525.00 TOTAL
Balance b/d

Date
2016
Sales - Gaming 650.00 1-Jul Opening Balance
Sales - Gaming 480.00 1-Jul Cash at Bank
Sales - Gaming 155.00
4,565.00
5,850.00 TOTAL
Balance b/d
230 - Loan Payable

Date
2016
Cash at Bank 1,000.00 1-Jul Opening Balance
905,800.00
906,800.00 TOTAL
Balance b/d
250 - Utilities Payable

Date
2016
Cash at Bank 1,650.00 1-Jul Opening Balance
31-Jul Utilities Expense
635.00
2,285.00 TOTAL
Balance b/d
301 - Nicholas Robbins, Drawings

Date
2016
Opening Balance 0.00 31-Jul Closing off Drawings
Cash at Bank 680.00
Balance c/d
(difference)
680.00 TOTAL
0.00

Date
2016
P&L Summary 10,743.27 1-Jul Opening Balance
31-Jul Cash at Bank
31-Jul Unearned revenue
0.00
10,743.27 TOTAL
Balance b/d
601 - Advertising Expense

Date
2016
Opening Balance 0.00 31-Jul P&L Summary
Prepaid Advertising 200.00
Balance c/d
(difference)
200.00 TOTAL
0.00
603 - Computer Consumables Expense

Date
2016
Balance c/d
(difference)
0.00 TOTAL
0.00
605 - Depreciation - Equipment

Date
2016
Accumulated Depreciation -
2,525.00
Equipment
Balance c/d
(difference)
2,525.00 TOTAL
0.00
611 - Interest Expense
Date
2016
Interest Payable & Loan
3,400.50
Payable
Balance c/d
(difference)
3,400.50 TOTAL
0.00
613 - Leasing Expense - Gaming Furniture

Date
2016
Cash at Bank 450.00
Balance c/d
(difference)
450.00 TOTAL
0.00
615 - Licensing Expense - Sony

Date
2016
Balance c/d
(difference)
1,500.00 TOTAL
0.00
617 - Stationery & Office Expense

Date
2016
Cash at Bank 675.25
Balance c/d
(difference)
675.25 TOTAL
0.00
Amount
2,800.00
Instructions:
1. Entries must be posted to the T-Accounts in date order
2. Do not leave blank lines between entries
NB: Take care with posing your journal entries. If you have selected the incorrect accounts
for your journals, then your T-Accounts will be wrong when you post your entries to them &
your 10-Column Worksheet will not accept incorrect $ values.
5,013.81
7,813.81
Amount
717,580.00
717,580.00
Amount
15,625.00
250.00
15,875.00
15,875.00
Amount
125,000.00
2,525.00
127,525.00
127,525.00
Amount
3,700.00
2,150.00
5,850.00
4,565.00
Amount
906,800.00
906,800.00
905,800.00
Amount
1,650.00
635.00
2,285.00
635.00
Amount
680.00
0.00
680.00
Amount
0.00
9,458.27
650.00
480.00
155.00
10,743.27
0.00
Amount
200.00
0.00
200.00
Amount
0.00
0.00
0.00
Amount
2,525.00
0.00
2,525.00
Amount
3,400.50
0.00
3,400.50
Amount
450.00
0.00
450.00
Amount
1,500.00
0.00
1,500.00
Amount
675.25
0.00
675.25
Fill Fields
Date Explanation

2-Jul ASSETS
3-Jul Cash at Bank
4-Jul Accounts Receivable
5-Jul Prepaid Advertising
6-Jul Prepaid Insurance
7-Jul Land
ected the incorrect accounts 8-Jul Building
u post your entries to them & 9-Jul Accumulated Depreciation - Building
10-Jul Equipment - computer/console/candybar/projector
11-Jul Accumulated Depreciation - Equipment
12-Jul LIABILITIES
13-Jul Accounts Payable
15-Jul Interest Payable & Loan Payable
16-Jul Utilities Payable
17-Jul Wages Payable
18-Jul EQUITY
19-Jul Nicholas Robbins, Capital
20-Jul Nicholas Robbins, Drawings
21-Jul REVENUE
22-Jul Sales - Cinema
23-Jul Sales - Gaming
24-Jul Sales - Candy Bar
25-Jul EXPENSES
26-Jul Accounting Fees
27-Jul Advertising Expense
28-Jul Candy Bar Expense
29-Jul Computer Consumables Expense
30-Jul Depreciation Expense - Building
31-Jul Depreciation Expense - Equipment
Utilities Expense
Insurance Expense
Interest Expense
Leasing Expense - cinema seating/screen
Leasing Expense - gaming furniture
Licensing Expense - Nintendo
Licensing Expense - Sony
Stationery & Office Supplies Expense
Wages Expense
P&L Summary
Closing off Revenue

Closing off Expenses
Closing off P&L Summ
Close to P&L Summ
Closing off Drawings
Adj - Advertising expired

Adj - Deposits earned
Adj - Depreciation recorded
Adj - Insurance expired
Adj - Interest accrued
Balances P&L Summary Explanation
Balance b/d Opening Balance

ASSETS
Cash at Bank
Balance c/d (difference) Accounts Receivable
Prepaid Advertising
Prepaid Insurance
Land
Building
Accumulated Depreciation - Building
Equipment - computer/console/candybar/projector
Accumulated Depreciation - Equipment
LIABILITIES
Accounts Payable
Unearned revenue
Interest Payable
Loan Payable - principal due May 2030
Wages Payable
Utilities Payable
EQUITY
Nicholas Robbins, Capital
Nicholas Robbins, Drawings
REVENUE
Sales - Cinema
Sales - Gaming
Sales - Candy Bar
EXPENSES
Accounting Fees
Advertising Expense
Candy Bar Expense
Computer Consumables Expense
Depreciation Expense - Building
Depreciation Expense - Equipment
Utilities Expense
Insurance Expense
Interest Expense
Leasing Expense - cinema seating/screen
Leasing Expense - gaming furniture
Licensing Expense - Nintendo
Licensing Expense - Sony
Stationery & Office Supplies Expense
Wages Expense
P&L Summary
Student ID:
FlixCity & Gaming
General Journal
for July 2016
Day Month
31 July 1 210 - Unearned Revenue
Gaming services performed on 04/07/16
31 July 4 611 - Interest Expense
Interest payable for July
31 July 5 605 - Depreciation Expense - Equipment
Depreciation on equipment
31 July 6 604 - Depreciation Expense - Building
Depreciation on building
31 July 7 601 - Advertising Expense
Advertising expense for July
31 July 8 610 - Insurance Expense
Insurance expense- July
31 July 9 608 - Utilities Expense
JOURNAL TOTALS
45376115
Entries
Dr Cr
650.00
650.00
480.00 HINTS:
480.00 1 Journals should be prepared in the same sequence as the adjustment
2 Journal Reference Numbers should correspond to the adjustment num
155.00 When there are multiple accounts required for debit or credit entries w
3
155.00 they appear in ascending account number order;
4 Do not enter $ signs & do not round amounts - express values in dolla
3,400.50 5 Do not leave blank lines between journals;
3,400.50 NB: Take care with your journal entries. If you select the incorrect acc
journals, then your T-Accounts will be wrong when you post your entr
2,525.00 Column Worksheet will not accept incorrect $ values.
2,525.00
250.00
250.00
200.00
200.00
255.00
255.00
635.00
635.00
8,550.50 8,550.50
Fill Lists
1 July
2 August
3 September
quence as the adjustments are presented; 4 October
ond to the adjustment numbers; 5 November
or debit or credit entries within a journal, ensure 6 December
rder; 7 January
s - express values in dollars & cents; 8 February
9 March
ou select the incorrect accounts for your adjusting 10 April
g when you post your entries to them & your 10- 11 May
$ values. 12 June
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
ASSETS
100 - Cash at Bank
150 - Land
160 - Building
170 - Equipment
LIABILITIES
240 - Wages Payable
EQUITY
REVENUE
EXPENSES
605 - Depreciation Expense - Equipment
612 - Leasing Expense - cinema seating/screen
613 - Leasing Expense - gaming furniture
617 - Stationery & Office Supplies Expense
618 - Wages Expense
800 - P & L Summary
FlixCity & G
10-Column W
For the month end
Account
Account Names Trial Balance
No's
Dr
ASSETS
100 Cash at Bank 20,725.52
110 Accounts Receivable 5,013.81
130 Prepaid Advertising 3,400.00
140 Prepaid Insurance 3,858.59
150 Land 717,580.00
160 Building 125,000.00
165 Accumulated Depreciation - Building
170 Equipment - computer/console/candy bar/projector 252,500.00
175 Accumulated Depreciation - Equipment
LIABILITIES
200 Accounts Payable
210 Unearned Revenue
220 Interest Payable
230 Loan Payable - principal due May 2030
240 Wages Payable
250 Utilities Payable
EQUITY
300 Nicholas Robbins, Capital
301 Nicholas Robbins, Drawings 680.00
REVENUE
400 Sales - Cinema
401 Sales - Gaming
402 Sales - Candy Bar
EXPENSES
600 Accounting Fees 2,350.00
601 Advertising Expense 0.00
602 Candy Bar Expense 4,614.63
603 Computer Consumables Expense 0.00
604 Depreciation Expense - Building
605 Depreciation Expense - Equipment
608 Utilities Expense 0.00
610 Insurance Expense
611 Interest Expense
612 Leasing Expense - cinema seating/screen 1,150.00
613 Leasing Expense - gaming furniture 450.00
614 Licensing Expense - Nintendo 950.00
615 Licensing Expense - Sony 1,500.00
617 Stationery & Office Supplies Expense 675.25
618 Wages Expense 4,400.00
Profit/Loss for period

800 P&L Summary Account
TOTALS 1,144,847.80
FlixCity & Gaming
10-Column Worksheet
For the month ended 31 July 2016
Statement of
Trial Balance Adjustments Adjusted Trial Balance
Profit or Loss
Cr Dr Cr Dr Cr Dr Cr
20,725.52
5,013.81
200.00 3,200.00
255.00 3,603.59
717,580.00
125,000.00
15,625.00 250.00 15,875.00
252,500.00
125,000.00 2,525.00 127,525.00
10,024.81 10,024.81
5,850.00 1,285.00 4,565.00
0.00 3,400.50 3,400.50
905,800.00 905,800.00
4,400.00 4,400.00
0.00 635.00 635.00
41,415.68 41,415.68
680.00
15,575.90 15,575.90 15,575.90

9,458.27 1,285.00 10,743.27 10,743.27
11,698.14 11,698.14 11,698.14
2,350.00 2,350.00
200.00 200.00 200.00
4,614.63 4,614.63
250.00 250.00 250.00

2,525.00 2,525.00 2,525.00
635.00 635.00 635.00
255.00 255.00 255.00
3,400.50 3,400.50 3,400.50
1,150.00 1,150.00
450.00 450.00
950.00 950.00
1,500.00 1,500.00
675.25 675.25
4,400.00 4,400.00
14,661.93
1,144,847.80 8,550.50 8,550.50 1,151,658.30 1,151,658.30 38,017.31 38,017.31

Statement of
Financial Position
Dr Cr
20,725.52
5,013.81
3,200.00
3,603.59
717,580.00
125,000.00
15,875.00
252,500.00
127,525.00
10,024.81
4,565.00 HINTS:
3,400.50 1 List Accounts in numerical order under headings;
905,800.00 2 Do not enter zero balances;
4,400.00 3 Do not round values;
635.00
4 Do not enter $ signs.

41,415.68
680.00
14,661.93
1,128,302.92 1,128,302.92
Fill Lists
ASSETS
100 Cash at Bank
110 Accounts Receivable
130 Prepaid Advertising
140 Prepaid Insurance
150 Land
160 Building
165 Accumulated Depreciation - Building
170 Equipment - computer/console/candybar/projector
175 Accumulated Depreciation - Equipment
LIABILITIES
200 Accounts Payable
210 Unearned Revenue
220 Interest Payable
230 Loan Payable - principal due May 2030
240 Wages Payable
250 Utilities Payable
EQUITY
300 Nicholas Robbins, Capital
301 Nicholas Robbins, Drawings
REVENUE
400 Sales - Cinema
401 Sales - Gaming
EXPENSES
600 Accounting Fees
601 Advertising Expense
602 Candy Bar Expense
603 Computer Consumables Expense
604 Depreciation Expense - Building
605 Depreciation Expense - Equipment
608 Utilities Expense
611 Interest Expense
612 Leasing Expense - cinema seating/screen
613 Leasing Expense - gaming furniture
614 Licensing Expense - Nintendo
615 Licensing Expense - Sony
617 Stationery & Office Supplies Expense
800 Profit/Loss Summary Account

Student ID:
FlixCity & Gaming
General Journal
for July 2016
Day Month
31 July 1 400 - Sales - Cinema
800 - P & L Summary
Close revenue accounts
31 July 2 800 - P & L Summary
618 - Wages Expense
Close expense accounts
31 July 3 800 - P & L Summary
Close P&L summary account/transfer profit to capital
31 July 4 300 - Nicholas Robbins, Capital
Close drawing accounts
JOURNAL TOTALS
45376115
Entries
Dr Cr
15,575.90
10,743.27
11,698.14
38,017.31
HINTS:
23,355.38 1 Journals should be prepared in the same sequence as the closin
2,350.00 2 Journal Reference Numbers should correspond to the closing en
200.00 When there are multiple accounts required for debit or credit ent
3
4,614.63 appear in ascending account number order;
250.00 4 Do not enter $ signs & do not round amounts - express values in
2,525.00 5 Do not leave blank lines between journals;
635.00 NB: Take care with your journal entries. If you select the incorre
255.00 journals, then your T-Accounts will be wrong when you post you
3,400.50 Worksheet will not accept incorrect $ values.
1,150.00
450.00
950.00
1,500.00
675.25
4,400.00
14,661.93
14,661.93
680.00
680.00
76,714.62 76,714.62
1
2
3
4
same sequence as the closing entries are presented; 5
correspond to the closing entry numbers; 6
quired for debit or credit entries within a journal, ensure they 7
r order; 8
amounts - express values in dollars & cents; 9
urnals; 10
ies. If you select the incorrect accounts for your closing 11
be wrong when you post your entries to them & your 10-Column 12
$ values. 13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
Fill Lists
July ASSETS
August 100 - Cash at Bank
September 110 - Accounts Receivable
October 130 - Prepaid Advertising
November 140 - Prepaid Insurance
December 150 - Land
January 160 - Building
February 165 - Accumulated Depreciation - Building
March 170 - Equipment
April 175 - Accumulated Depreciation - Equipment
May LIABILITIES
June 200 - Accounts Payable
240 - Wages Payable
EQUITY
REVENUE
EXPENSES
618 - Wages Expense
800 - P & L Summary
FlixCity & Gaming
Post Closing Trial Balance
For the month ended 31 july 2016
DR
ASSETS
Land 717,580.00
Building 125,000.00
Accumulated Depreciation - Building
Equipment - computer/console/candy bar/projector 252,500.00
Accumulated Depreciation - Equipment
LIABILITIES
Accounts Payable
Unearned Revenue
Interest Payable
Loan Payable - principal due May 2030
Wages Payable
Utilities Payable
EQUITY
Nicholas Robbins, Capital
TOTALS 1,127,622.92
6
CR
15,875.00
127,525.00
10,024.81
4,565.00
3,400.50
905,800.00
4,400.00
635.00
55,397.61
1,127,622.92
FlixCity & Gaming

Income Statement
REVENUE
Sales - Cinema 15,575.90
Sales - Gaming 10,743.27
Sales - Candy Bar 11,698.14
TOTAL REVENUE 38,017.31
EXPENSES
Accounting Fees 2,350.00
Advertising Expense 200.00
Candy Bar Expense 4,614.63
Computer Consumables Expense
Depreciation Expense - Building 250.00
Depreciation Expense - Equipment 2,525.00
Utilities Expense 635.00
Insurance Expense 255.00
Interest Expense 3,400.50
Leasing Expense - cinema seating/screen 1,150.00
Leasing Expense - gaming furniture 450.00
Licensing Expense - Nintendo 950.00
Licensing Expense - Sony 1,500.00
Stationery & Office Supplies Expense 675.25
TOTAL EXPENSES 23,355.38
NET PROFIT / (LOSS) FOR THE PERIOD 14,661.93

FlixCity & Gaming

Changes in Equity Statement
Starting Capital
Capital, Nicholas Robbins- 1 July 2016 $41,415.68

Add:
Profit for month ended 31 July 2016 $14,661.93
$56,077.61
Less:
Drawings $680.00
$55,397.61
Capital, Nicholas Robbins-31 July 2016 $55,397.61
`
FlixCity & Gaming

Balance Sheet
As at 31 July 2016
Column1 Column2 Column3 Column4
ASSETS
Current Assets:
TOTAL CURRENT ASSETS 32,542.92
Non-Current Assets:
Land 717,580.00
Building 125,000.00
Accumulated Depreciation-Building (15875)
Equipment - computer/console/candy bar/projector 252,500.00
Accumulated Depreciation - Equipment (127525)
TOTAL NON-CURRENT ASSETS 951,680.00
TOTAL ASSETS
LIABILITIES
Current Liabilities:
Unearned Revenue 4,565.00
Interest Payable 3,400.50
Wages Payable 4,400.00
Utilities Payable 635.00
TOTAL CURRENT LIABILITIES 23,025.31
Non-Current Liabilities:
Loan Payable-principal due May 2030 905,800.00
TOTAL NON-CURRENT LIABILITIES 905,800.00
TOTAL LIABILITIES
NET ASSETS
OWNER'S EQUITY
Capital, Nicholas Robbins-31 July 2016 55,397.61
TOTAL EQUITY
Column5 Column6
$984,222.92
$928,825.31
$55,397.61
$55,397.61

Account Sheet

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FlixCity & Gaming

100 - Cash at Bank

130 - Prepaid Advertising

140 - Prepaid Insurance

200 - Accounts Payable

220 - Interest Payable

240 - Wages Payable

TOTAL 6,950.00 TOTAL

300 - Nicholas Robbins, Capital

TOTAL 56,077.61 TOTAL

400 - Sales - Cinema

402 - Sales - Candy Bar

600 - Accounting Fees

602 - Candy Bar Expense

604 - Depreciation Expense - Building

608 - Utilities Expense

610 - Insurance Expense

612 - Leasing Expense - Cinema Seating & Screen

614 - Licensing Expense - Nintendo

PROFIT & LOSS SUMMARY

800 - P&L Summary Account

Seating & Screen 613 - Lea

165 - Accumulated Depreciation - Building

175 - Accumulated Depreciation - Equipment

210 - Unearned Revenue

230 - Loan Payable

250 - Utilities Payable

301 - Nicholas Robbins, Drawings

401 - Sales - Gaming

601 - Advertising Expense

603 - Computer Consumables Expense

605 - Depreciation - Equipment

613 - Leasing Expense - Gaming Furniture

615 - Licensing Expense - Sony

617 - Stationery & Office Expense

1-Jul Opening Balance

Closing off Revenue

Adj - Advertising expired

Balance b/d Opening Balance

Profit/Loss for period

15,575.90 15,575.90 15,575.90

250.00 250.00 250.00

1,144,847.80 8,550.50 8,550.50 1,151,658.30 1,151,658.30 38,017.31 38,017.31

4 Do not enter $ signs.

800 Profit/Loss Summary Account

FlixCity & Gaming

TOTAL REVENUE 38,017.31

NET PROFIT / (LOSS) FOR THE PERIOD 14,661.93

FlixCity & Gaming

Capital, Nicholas Robbins- 1 July 2016 $41,415.68

FlixCity & Gaming

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