Date

Jan. 1
Jan. 16
Mar. 30
Mar. 30
Apr. 2
Apr. 8
Jul. 15
Oct. 1
Dec. 1
Dec. 2
Dec. 28
Dec. 29

Date
Dec. 31

Date
Mar. 30
Dec. 31

Explanation
Capital Stock
Land
Building & Equipment
Prepaid Insurance
Sales Revenue
Account Payable
Inventory
Salary Expense
Unearned Rent
Accounts Receivable
Other Expenses
Dividends Distributed

Cash
Ref. Debit
Credit
Balance
J1
$ 20,000.00
$
20,000.00
J1
$ 3,000.00
17,000.00
J1
10,840.00
6,160.00
J1
360.00
5,800.00
J1
8,000.00
13,800.00
J1
7,300.00
6,500.00
J1
3,300.00
3,200.00
J1
1,800.00
1,400.00
J1
450.00
1,850.00
J1
2,000.00
3,850.00
J1
428.00
3,422.00
J1
500 $
2,922.00

Explanation
Interest Revenue

Interest Receivable
Ref. Debit
Credit
J2
$
66.00

Explanation
Cash
Insurance Expense

Prepaid Insurance
Ref. Debit
Credit
Balance
J1
$
360.00
$
360.00
J2
$
270.00 $
90.00

Balance
$

66.00

Explanation
Cash
Note Recivable & Loss

Land
Ref. Debit
Credit
Balance
J1
$ 3,000.00
$
3,000.00
J1
1,500.00 $
1,500.00

Date
Mar. 30

Explanation
Cash & Note Payable

Equipment
Ref. Debit
Credit
J1
$ 2,120.00

Date
Dec. 31

Accumulated Depreciation: Equipment

Explanation
Ref. Debit
Credit
Balance
Depreciation Expense: Equipment J2
$
120.00 $
120.00

Date
Jan. 16
Sep. 1

Date
Mar. 30

Explanation
Building & Equipment

Note Payable
Ref. Debit
J1

Balance
$
2,120.00

Credit
Balance
$ 6,600.00 $
6,600.00

Date
Dec. 31

Date
Dec. 1
Dec. 31

Date
Dec. 31
Dec. 31

Explanation
Interest Expense

Interest Payable
Ref. Debit
J2

Explanation
Cash
Rent Revenue

Unearned Rent
Ref. Debit
Credit
Balance
J1
$
450.00 $
450.00
J2
$
150.00
$
300.00

Explanation
Cash
Rent Revenue

Retained Earnings
Ref. Debit
Credit
Balance
J3
$ 1,400.00 $
1,400.00
J3
$
500.00
$
900.00
Sales Revenue

Credit
Balance
$
594.00 $
594.00

Account Receivable
Ref.
Debit
Credit
J1
$ 9,000.00
J1
$
2,000.00

Date
Nov. 23
Dec. 2

Explanation
Sales Revenue
Cash

Date
Dec. 31

Allowance for Doubtful Accounts

Explanation
Ref.
Debit
Credit
Bad Debt Expense
J2
$
170.00

Date
Sep. 1

Explanation
Land

Notes Receivable
Ref.
Debit
Credit
J1
$ 1,320.00

Explanation
Account Payable
Cost of Good Sold
Cash
Cost of Good Sold
Account Payable

Inventory
Ref.
Debit
Credit
J1
$ 7,300.00
J1
$
5,090.00
J1
3,300.00
J1
5,400.00
J1
1,900.00

Date
Mar. 30

Explanation
Cash & Note Payable

Building
Ref.
Debit
Credit
J1
$ 15,320.00

Date
Dec. 31

Accumulated Depreciation: Building

Explanation
Ref.
Debit
Credit
Depreciation Expense: Building J2
$
264.00

Date
Mar. 31
Apr. 8
Dec. 27

Explanation
Inventory
Cash
Inventory

Accounts Payable
Ref.
Debit
Credit
J1
$
7,300.00
$ 7,300.00
1,900.00

Explanation
Salary Expense

Salaries Payable
Ref.
Debit
J2

Date
Mar. 31
Apr. 2
Jul. 15
Nov. 23
Dec. 27

Date
Dec. 31

Credit
$
900.00

Date
Dec. 31

Date
Jan 1.

Date
Dec. 29
Dec. 31

Income Taxes Payable

Explanation
Ref.
Debit
Income Taxes Expense
J2

Explanation
Cash

Explanation
Cash
Retained Earnings

Capital Stock
Ref.
Debit
J1

Credit
$
600.00

Credit
$ 20,000.00

Dividends Distributed
Ref.
Debit
Credit
J1
$
500.00
J3
$
500.00
Interest Revenue

Balance
$ 9,000.00
$ 7,000.00

Balance
$
170.00

Balance
$ 1,320.00

Balance
$ 7,300.00
2,210.00
5,510.00
110.00
$ 2,010.00

Balance
$ 15,320.00

Balance
$
264.00

Balance
$ 7,300.00
$
$ 1,900.00

Balance
$
900.00

Balance
$
600.00

Balance
$ 20,000.00

Balance
$
500.00
$
-