Chart of Accounts

Date
Cash (A)
Inventory (A)
1/1/2015
Prepaid Rent Expense (A)
1/1/2015
Property/Plant/Equipment (
3/1/2015
Accumulated Depreciation
4/1/2015
Accounts Payable (L)
4/1/2015
Differed Revenue (L)
7/1/2015
Interest Payable (L)
7/1/2015
Note Payable (L)
7/1/2015
Common Stock (SE)
Retained Earnings (SE)
Revenue (R)
12/31/2015
Cost of Revenue (E)
12/31/2015
Depreciation Expense (E) 12/31/2015
Rent Expense (E)
Interest Expense (E)
12/31/2015

Balances

Transaction
Issues common shares for cash
Purchases equipment with cash. Equipement has useful life
Purchases inventory on account
Sells merchandise for cash
Records effect of sale on Inventory
Borrows from bank for 5 years. Interest rate is 3.5% and pay
Received cash from customer for services it will perform ne
pays landlord for rent for the next month
Balances before adjusting entries
Depreciation Expense
Record Interest Expense
Record Rent Expense
Close income statement accounts

INCOME STATEMENT
Revenue (R)
Cost of Revenue (E)
Depreciation Expense (E)
Rent Expense (E)
Interest Expense (E)
NET INCOME
BALANCE SHEET
Assets
Cash (A)
Inventory (A)
Prepaid Rent Expense (A)
Property/Plant/Equipment (A)
Accumulated Depreciation (XA)
Total Assets
Accounts Payable (L)
Differed Revenue (L)
Interest Payable (L)
Note Payable (L)

Total Liabilities
Common Stock (SE)
Retained Earnings (SE)
Total Equity
Total Liabilities and Equity
Statement of Cash Flows
Operting Activities
Sells merchandise for cash
Received cash from customer for services it will perform ne
pays landlord for rent for the next month
Cash from operating activities
Investing Activities
Purchases equipment with cash. Equipement has useful life
Cash from investing activities
Financing Ativities
Issues common shares for cash
Borrows from bank for 5 years. Interest rate is 3.5% and pay
Cash from financing activities
Net Change in Cash

EFFECTS OF TRANSACTIONS O
Amount

DR
384,723 Cash (A)
16,481 Property/Plant/Equipment (A)
62,169 Inventory (A)
67,889 Cash (A)
43,518 Cost of Revenue (E)
43,790 Cash (A)
40,940 Cash (A)
11,643 Prepaid Rent Expense (A)

s before adjusting entries

5493.6666666667 Depreciation Expense (E)
766.325 Interest Expense (E)
970.25 Rent Expense (E)

Balances after adjusting

Revenue (R)
Cost of Revenue (E)
Depreciation Expense (E)
Rent Expense (E)
Interest Expense (E)
Retained Earnings (SE)
Yee bruh!
Yee bruh!
Unadjusted Trial Balance
Adjusted Trial Balance
67889
67889
43518
43518
0
5493.6666666667
0
970.25
0
766.325
24371
17140.7583333333

509218
18651
11643
16481
0
555993
62169
40940
0
43790

509218
18651
10672.75
16481
-5493.6666666667
549529.083333333
62169
40940
766.325
43790

146899
384723
24371
409094
555993
Yee bruh!
67889
40,940
-11,643
97186
-16,481
-16481
384,723
43,790
428,513
509,218

147665.325
384723
17140.7583333333
401863.758333333
549529.083333333

CTS OF TRANSACTIONS ON ACCOUNTS

CR
BB
384,723 Common Stock (SE)
16,481 Cash (A)
62169 Accounts Payable (L)
67889 Revenue (R)
43,518 Inventory (A)
43,790 Note Payable (L)
40,940 Differed Revenue (L)
11,643 Cash (A)

384,723
16,481
62169
67889
43,518
43,790
40,940
11,643

EB
5493.6666666667 Accumulated Depreciation (XA) 5493.66667
766.325 Interest Payable (L)
766.325
970.25 Prepaid Rent Expense (A)
970.25
Balances after adjusting entries
67889
43518
5493.6666666667
970.25
766.325
17140.7583333333

Post Closing Balance

0
0
0
0
0
0

509218
18651
10672.75
16481
-5493.6666666667
549529.083333333
62169
40940
766.325
43790

147665.325
384723
17140.7583333333
401863.758333333
549529.083333333

Cash (A)
DR+
CR0
384,723

Inventory (A)
DR+
CR0

Prepaid Rent Expense (A)

DR+
CR0

16,481
62169
67889
43,518
43,790
40,940
11,643
509218

11,643
18651

11643

970.25
509218

18651

10672.75

509218

18651

10672.75

Property/Plant/Equipment (A)
Accumulated Depreciation (XA) Accounts Payable (L)
DR+
CRDRCR+
DR0
0
16,481

16481

0
5493.66666667

16481

5493.66666667

16481

5493.66666667

ccounts Payable (L)

CR+

Differed Revenue (L)

DRCR+
0

Interest Payable (L)

DRCR+
0

Note Payable (L)

DR0

62169

40,940

62169

40940

0
766.325

62169

40940

766.325

62169

40940

766.325

Note Payable (L)

CR+

Common Stock (SE)

DRCR+
0

Retained Earnings (SE)

DRCR+

Revenue (R)
DR-

0
384,723

43790

384723

43790

384723

43,790

67889

43790

384723

17140.7583
17140.7583

Revenue (R)
CR+

Cost of Revenue (E)

DR+
CR0
0

Depreciation Expense (E)

Rent Expense (E)
DR+
CRDR+
0
0

67889
43,518

67889

67889

43518

0
5493.66667

43518

970.25
970.25

5493.66667
43518
5493.66667

Rent Expense (E)

CR-

Interest Expense (E)

DR+
CR0

0
766.325
766.325

970.25
766.325
0

Chart of Accounts
Date
Cash (A)
Accounts Receivable (A)
1/1/2015
Allowance for Doubtful Acc
1/1/2015
Inventory (A)
3/1/2015
Property/Plant/Equipment (
4/1/2015
Accumulated Depreciation
4/1/2015
Accounts Payable (L)
7/1/2015
Interest Payable (L)
7/1/2015
Note Payable (L)
7/1/2015
Common Stock (SE)
Retained Earnings (SE)
Revenue (R)
12/31/2015
Cost of Revenue (E)
12/31/2015
Depreciation Expense (E) 12/31/2015
Bad Debt Expense (E)
Interest Expense (E)
12/31/2015

Balances

Transaction
Issues common shares for cash
Purchases equipment with cash. Equipement has useful life of 3 years.
Purchases inventory on account
Sells merchandise for credit
Records effect of sale on Inventory
Borrows from bank for 5 years. Interest rate is 7% and payable annually on July 1.
Received cash from customer paying off accounts receivable.
Write-off customer account
Balances before adjusting entries
Depreciation Expense
Record Interest Expense
Bad Debt Expense. Estimate 4% of Accounts receivable will not be collectible.
Close income statement accounts

INCOME STATEMENT
Revenue (R)
Cost of Revenue (E)
Depreciation Expense (E)
Bad Debt Expense (E)
Interest Expense (E)
NET INCOME
BALANCE SHEET
Assets
Cash (A)
Accounts Receivable (A)
Allowance for Doubtful Accounts (XA)
Inventory (A)
Property/Plant/Equipment (A)
Accumulated Depreciation (XA)
Total Assets
Accounts Payable (L)
Interest Payable (L)
Note Payable (L)

Total Liabilities
Common Stock (SE)
Retained Earnings (SE)
Total Equity
Total Liabilities and Equity
Statement of Cash Flows
Operting Activities

Cash from operating activities

Investing Activities
Cash from investing activities
Financing Ativities

Cash from financing activities

Net Change in Cash

EFFECTS OF TRANSACTIONS O
Amount

DR

seful life of 3 years.

and payable annually on July 1.

receivable.

s before adjusting entries

vable will not be collectible.

Balances after adjusting

#REF!
Unadjusted Trial Balance
Adjusted Trial Balance
0
0
0
0
0
0

#REF!
0
0
0
0
0
0

0
0
0
0
0

0
0
0
0
0

0
#REF!
0
0

0
#REF!
0
0

#REF!
0
0
0
#REF!
Yee bruh!

0
0

#REF!
0
0
0
#REF!

CTS OF TRANSACTIONS ON ACCOUNTS

CR
BB

EB

Balances after adjusting entries

Post Closing Balance

0
0
0
0
0
0

0
0
0
0
0
0
#REF!
0
0

#REF!
0
0
0
#REF!

DR+

Cash (A)
CR0

Accounts Receivable (A)

DR+
CR0

Allowance for Doubtful Account

DR-

or Doubtful Accounts (XA)

Inventory (A)
CR+
DR+
CR0
0

Property/Plant/Equipment (A)
DR+
CR0

Accumulated Depreciation (XA) Accounts Payable (L)

Interest Payable (L)
DRCR+
DRCR+
DR0
0

nterest Payable (L)

CR+

Note Payable (L)

DRCR+

Common Stock (SE)

DRCR+

Retained Earnings (SE

DR-

tained Earnings (SE)

CR+
0

Cost of Revenue (E)

DR+
CR0
0

DR-

Revenue (R)
CR+

Depreciation Expense (
DR+
0

reciation Expense (E)

Bad Debt Expense (E)
CRDR+
CR0

Interest Expense (E)

DR+
CR0