Accounting Project

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1. Group Members

ACCOUNTING PRINCIPLES I
PowerFit Barcelona, S.L.
Group Members
Surname Name
Courbis Tristan
Manterola River
Badawy Amin

2. BM Canvas

BUSINESS MODEL CANVAS — PowerFit Barcelona, S.L.
What is our business about?
PowerFit Barcelona, S.L. is a fitness center located in Barcelona that combines a service activity (gym memberships and personal training sessions) with a commercial activity (sale of supplements, sportswear and water bottles at the reception). Members pay a monthly fee of €50 for gym access, personal training is billed per session, and complementary products are sold on-site to increase the average revenue per customer.
KEY PARTNERS KEY ACTIVITIES VALUE PROPOSITIONS CUSTOMER RELATIONSHIPS CUSTOMER SEGMENTS
• Gym equipment suppliers (Technogym, Life Fitness) • Supplement brands (Optimum Nutrition, MyProtein) • Sportswear distributors • Bank (financing partner) • Insurance company • Operating the gym facility • Personal training services • Sale of fitness products • Marketing and member retention • Affordable, well-equipped gym • Expert personal training • Fitness products on-site • Clean, modern, motivating environment • Flexible monthly memberships • 1-on-1 personal trainers • Member community and events • Online support and class booking • 24/7 access via membership card • Young professionals (25-40) • University students • Fitness enthusiasts wanting PT • Customers buying supplements/sportswear
KEY RESOURCES CHANNELS
• Gym equipment (cardio, weights) • Premises (rented in Barcelona) • Qualified trainers and staff • Inventory of products • Brand and reputation • Physical gym location • Website with online sign-up • Social media (Instagram, TikTok) • Word of mouth and referrals
COST STRUCTURE REVENUE STREAMS
• Rent of premises (€3,000/month) • Salaries (trainers, receptionist) (€4,500/month) • Equipment depreciation (gym + office) • Inventory purchases (COGS) • Utilities, insurance, marketing • Loan interest (6% on €50,000) • Monthly memberships (€50 per month) • Personal training sessions • Sale of supplements (proteins, vitamins) • Sale of sportswear and water bottles
Q1 — What does our business need to produce future revenues?
To generate future revenues we need: (1) gym equipment to provide the core service, (2) a rented physical space in Barcelona, (3) qualified personal trainers and a receptionist, (4) inventory of supplements, sportswear and water bottles, (5) marketing investment to attract members, and (6) insurance and basic office equipment to operate.
Q2 — How are we going to finance our assets?
Total initial financing: €140,000. (1) Owners' equity: each of the 3 partners contributes €30,000 for a total of €90,000 in common stock. (2) Bank loan: a long-term loan of €50,000 at 6% annual interest, repaid in monthly installments. This finances gym equipment, office equipment, prepaid rent and insurance, opening marketing and a cash buffer for the first months of operations.

3. Chart of Accounts

Account Type Normal Balance
Cash Asset Debit
Accounts Receivable Asset Debit
Inventory Asset Debit
Prepaid Rent Asset Debit
Prepaid Insurance Asset Debit
Gym Equipment Asset Debit
Acc. Depreciation - Gym Equipment Contra-Asset Credit
Office Equipment Asset Debit
Acc. Depreciation - Office Equipment Contra-Asset Credit
Accounts Payable Liability Credit
Interest Payable Liability Credit
Unearned Revenue Liability Credit
Bank Loan Liability Credit
Common Stock Equity Credit
Retained Earnings Equity Credit
Membership Revenue Revenue Credit
Personal Training Revenue Revenue Credit
Merchandise Sales Revenue Credit
Cost of Goods Sold Expense Debit
Rent Expense Expense Debit
Insurance Expense Expense Debit
Utilities Expense Expense Debit
Marketing Expense Expense Debit
Salary Expense Expense Debit
Depreciation Exp. - Gym Equipment Expense Debit
Depreciation Exp. - Office Equipment Expense Debit
Interest Expense Expense Debit
Repair & Maintenance Expense Expense Debit
Income Summary Temporary —

4. Journal Jan

GENERAL JOURNAL — JANUARY 2026
Regular Transactions
Date Entry N. Account Description Debit (€) Credit (€)
01/01/2026 JE-01 Cash Owners contribute capital — 3 partners x €30,000 €90,000.00
Common Stock €90,000.00
01/01/2026 JE-02 Cash Long-term bank loan obtained at 6% annual interest €50,000.00
Bank Loan €50,000.00
02/01/2026 JE-03 Prepaid Rent Pay 3 months of rent in advance (€3,000/month) €9,000.00
Cash €9,000.00
02/01/2026 JE-04 Gym Equipment Purchase of gym equipment (cardio + weights) €60,000.00
Cash €60,000.00
03/01/2026 JE-05 Office Equipment Purchase of office equipment (computers, reception desk) €4,800.00
Cash €4,800.00
04/01/2026 JE-06 Inventory Purchase of initial inventory (supplements, sportswear) on account €8,000.00
Accounts Payable €8,000.00
05/01/2026 JE-07 Marketing Expense Opening marketing campaign (social media + flyers) €2,000.00
Cash €2,000.00
05/01/2026 JE-08 Prepaid Insurance Pay 12-month insurance policy in advance €3,600.00
Cash €3,600.00
07/01/2026 JE-09 Cash Sale of 30 monthly memberships €50 (cash) €1,500.00
Membership Revenue €1,500.00
08/01/2026 JE-10 Cash Sale of merchandise (cash) — record revenue €600.00
Merchandise Sales €600.00
08/01/2026 JE-11 Cost of Goods Sold Sale of merchandise — record cost of goods sold €300.00
Inventory €300.00
10/01/2026 JE-12 Cash Personal training sessions (cash) €800.00
Personal Training Revenue €800.00
12/01/2026 JE-13 Utilities Expense Pay utilities bill (electricity + water) €450.00
Cash €450.00
15/01/2026 JE-14 Cash Sale of 50 monthly memberships €50 (cash) €2,500.00
Membership Revenue €2,500.00
16/01/2026 JE-15 Inventory Purchase additional inventory on account €1,500.00
Accounts Payable €1,500.00
18/01/2026 JE-16 Cash Sale of merchandise (cash) — record revenue €900.00
Merchandise Sales €900.00
18/01/2026 JE-17 Cost of Goods Sold Sale of merchandise — record cost of goods sold €450.00
Inventory €450.00
20/01/2026 JE-18 Cash Personal training sessions (cash) €1,200.00
Personal Training Revenue €1,200.00
22/01/2026 JE-19 Accounts Payable Payment to supplier (reduce accounts payable) €5,000.00
Cash €5,000.00
25/01/2026 JE-20 Salary Expense Pay monthly salaries (3 trainers €1,500) €4,500.00
Cash €4,500.00
27/01/2026 JE-21 Cash Sale of merchandise (cash) — record revenue €750.00
Merchandise Sales €750.00
27/01/2026 JE-22 Cost of Goods Sold Sale of merchandise — record cost of goods sold €375.00
Inventory €375.00
28/01/2026 JE-23 Cash Sale of 20 monthly memberships €50 (cash) €1,000.00
Membership Revenue €1,000.00
30/01/2026 JE-24 Cash Personal training sessions (cash) €600.00
Personal Training Revenue €600.00
31/01/2026 JE-25 Cash Corporate client pays for February membership in advance €600.00
Unearned Revenue €600.00
TOTALS €250,425.00 €250,425.00
Adjusting Entries — 31/01/2026
Date Entry N. Account Description Debit (€) Credit (€)
31/01/2026 AJE-01 Depreciation Exp. - Gym Equipment Depreciation on gym equipment (€60,000 / 60 months) €1,000.00
Acc. Depreciation - Gym Equipment €1,000.00
31/01/2026 AJE-02 Depreciation Exp. - Office Equipment Depreciation on office equipment (€4,800 / 60 months) €80.00
Acc. Depreciation - Office Equipment €80.00
31/01/2026 AJE-03 Insurance Expense Insurance expense for January (€3,600 / 12) €300.00
Prepaid Insurance €300.00
31/01/2026 AJE-04 Rent Expense Rent expense for January (€9,000 / 3) €3,000.00
Prepaid Rent €3,000.00
31/01/2026 AJE-05 Interest Expense Accrued interest on bank loan (€50,000 x 6% / 12) €250.00
Interest Payable €250.00
TOTALS €4,630.00 €4,630.00

5. Journal Feb

GENERAL JOURNAL — FEBRUARY 2026
Regular Transactions
Date Entry N. Account Description Debit (€) Credit (€)
01/02/2026 JE-01 Unearned Revenue Recognize earned revenue from January's prepayment €600.00
Membership Revenue €600.00
02/02/2026 JE-02 Cash Renewal of 80 monthly memberships €50 (cash) €4,000.00
Membership Revenue €4,000.00
03/02/2026 JE-03 Inventory Purchase of additional inventory on account €2,500.00
Accounts Payable €2,500.00
05/02/2026 JE-04 Cash Sale of merchandise (cash) — record revenue €1,200.00
Merchandise Sales €1,200.00
05/02/2026 JE-05 Cost of Goods Sold Sale of merchandise — record cost of goods sold €600.00
Inventory €600.00
06/02/2026 JE-06 Cash Sale of 25 new monthly memberships (cash) €1,250.00
Membership Revenue €1,250.00
08/02/2026 JE-07 Cash Personal training sessions (cash) €1,500.00
Personal Training Revenue €1,500.00
09/02/2026 JE-08 Utilities Expense Pay utilities bill €500.00
Cash €500.00
10/02/2026 JE-09 Marketing Expense Marketing campaign (Valentine's promotion) €800.00
Cash €800.00
12/02/2026 JE-10 Cash Sale of merchandise (cash) — record revenue €950.00
Merchandise Sales €950.00
12/02/2026 JE-11 Cost of Goods Sold Sale of merchandise — record cost of goods sold €475.00
Inventory €475.00
14/02/2026 JE-12 Cash Valentine's special — sale of merchandise (cash) €1,400.00
Merchandise Sales €1,400.00
14/02/2026 JE-13 Cost of Goods Sold Valentine's special — record cost of goods sold €700.00
Inventory €700.00
15/02/2026 JE-14 Cash Personal training sessions (cash) €1,800.00
Personal Training Revenue €1,800.00
16/02/2026 JE-15 Accounts Payable Payment to supplier (reduce accounts payable) €3,000.00
Cash €3,000.00
20/02/2026 JE-16 Cash Sale of 15 new memberships (cash) €750.00
Membership Revenue €750.00
22/02/2026 JE-17 Cash Personal training sessions (cash) €1,000.00
Personal Training Revenue €1,000.00
23/02/2026 JE-18 Accounts Receivable Sale of merchandise on account (credit) — revenue €800.00
Merchandise Sales €800.00
23/02/2026 JE-19 Cost of Goods Sold Sale of merchandise on account — cost of goods sold €400.00
Inventory €400.00
25/02/2026 JE-20 Salary Expense Pay monthly salaries €4,500.00
Cash €4,500.00
26/02/2026 JE-21 Repair & Maintenance Expense Repair and maintenance of gym equipment €350.00
Cash €350.00
27/02/2026 JE-22 Cash Sale of merchandise (cash) — record revenue €800.00
Merchandise Sales €800.00
27/02/2026 JE-23 Cost of Goods Sold Sale of merchandise — record cost of goods sold €400.00
Inventory €400.00
28/02/2026 JE-24 Bank Loan Pay loan installment — €1,500 principal + €250 Jan interest €1,500.00
Interest Payable €250.00
Cash €1,750.00
28/02/2026 JE-25 Cash Sale of 10 new memberships (cash) €500.00
Membership Revenue €500.00
28/02/2026 JE-26 Utilities Expense Pay phone and internet bill €200.00
Cash €200.00
28/02/2026 JE-27 Cash Receive payment from credit customer (Feb 23 sale) €800.00
Accounts Receivable €800.00
TOTALS €33,525.00 €33,525.00
Adjusting Entries — 28/02/2026
Date Entry N. Account Description Debit (€) Credit (€)
28/02/2026 AJE-01 Depreciation Exp. - Gym Equipment Depreciation on gym equipment (€60,000 / 60 months) €1,000.00
Acc. Depreciation - Gym Equipment €1,000.00
28/02/2026 AJE-02 Depreciation Exp. - Office Equipment Depreciation on office equipment (€4,800 / 60 months) €80.00
Acc. Depreciation - Office Equipment €80.00
28/02/2026 AJE-03 Insurance Expense Insurance expense for February (€3,600 / 12) €300.00
Prepaid Insurance €300.00
28/02/2026 AJE-04 Rent Expense Rent expense for February (from prepaid) €3,000.00
Prepaid Rent €3,000.00
28/02/2026 AJE-05 Interest Expense Accrued interest on bank loan for February €250.00
Interest Payable €250.00
TOTALS €4,630.00 €4,630.00

6. General Ledger

GENERAL LEDGER — T-ACCOUNTS (Jan + Feb 2026)
Cash (Normal balance: Debit)
Date Description Debit (€) Credit (€) Balance (€) Ref
01/01/2026 Owners contribute capital 3 partners x €30,000 €90,000.00 €90,000.00 M1
01/01/2026 Long-term bank loan obtained at 6% annual interest €50,000.00 €140,000.00 M1
02/01/2026 Pay 3 months of rent in advance (€3,000/month) €9,000.00 €131,000.00 M1
02/01/2026 Purchase of gym equipment (cardio + weights) €60,000.00 €71,000.00 M1
03/01/2026 Purchase of office equipment (computers, reception desk) €4,800.00 €66,200.00 M1
05/01/2026 Opening marketing campaign (social media + flyers) €2,000.00 €64,200.00 M1
05/01/2026 Pay 12-month insurance policy in advance €3,600.00 €60,600.00 M1
07/01/2026 Sale of 30 monthly memberships €50 (cash) €1,500.00 €62,100.00 M1
08/01/2026 Sale of merchandise (cash) — record revenue €600.00 €62,700.00 M1
10/01/2026 Personal training sessions (cash) €800.00 €63,500.00 M1
12/01/2026 Pay utilities bill (electricity + water) €450.00 €63,050.00 M1
15/01/2026 Sale of 50 monthly memberships €50 (cash) €2,500.00 €65,550.00 M1
18/01/2026 Sale of merchandise (cash) record revenue €900.00 €66,450.00 M1
20/01/2026 Personal training sessions (cash) €1,200.00 €67,650.00 M1
22/01/2026 Payment to supplier (reduce accounts payable) €5,000.00 €62,650.00 M1
25/01/2026 Pay monthly salaries (3 trainers €1,500) €4,500.00 €58,150.00 M1
27/01/2026 Sale of merchandise (cash) record revenue €750.00 €58,900.00 M1
28/01/2026 Sale of 20 monthly memberships €50 (cash) €1,000.00 €59,900.00 M1
30/01/2026 Personal training sessions (cash) €600.00 €60,500.00 M1
31/01/2026 Corporate client pays for February membership in advance €600.00 €61,100.00 M1
02/02/2026 Renewal of 80 monthly memberships €50 (cash) €4,000.00 €65,100.00 M2
05/02/2026 Sale of merchandise (cash) record revenue €1,200.00 €66,300.00 M2
06/02/2026 Sale of 25 new monthly memberships (cash) €1,250.00 €67,550.00 M2
08/02/2026 Personal training sessions (cash) €1,500.00 €69,050.00 M2
09/02/2026 Pay utilities bill €500.00 €68,550.00 M2
10/02/2026 Marketing campaign (Valentine's promotion) €800.00 €67,750.00 M2
12/02/2026 Sale of merchandise (cash) record revenue €950.00 €68,700.00 M2
14/02/2026 Valentine's special sale of merchandise (cash) €1,400.00 €70,100.00 M2
15/02/2026 Personal training sessions (cash) €1,800.00 €71,900.00 M2
16/02/2026 Payment to supplier (reduce accounts payable) €3,000.00 €68,900.00 M2
20/02/2026 Sale of 15 new memberships (cash) €750.00 €69,650.00 M2
22/02/2026 Personal training sessions (cash) €1,000.00 €70,650.00 M2
25/02/2026 Pay monthly salaries €4,500.00 €66,150.00 M2
26/02/2026 Repair and maintenance of gym equipment €350.00 €65,800.00 M2
27/02/2026 Sale of merchandise (cash) record revenue €800.00 €66,600.00 M2
28/02/2026 Pay loan installment €1,500 principal + €250 Jan interest €1,750.00 €64,850.00 M2
28/02/2026 Sale of 10 new memberships (cash) €500.00 €65,350.00 M2
28/02/2026 Pay phone and internet bill €200.00 €65,150.00 M2
28/02/2026 Receive payment from credit customer (Feb 23 sale) €800.00 €65,950.00 M2
ENDING BALANCE (28/02/2026) €166,400.00 €100,450.00 €65,950.00
Accounts Receivable (Normal balance: Debit)
Date Description Debit (€) Credit (€) Balance (€) Ref
23/02/2026 Sale of merchandise on account (credit) — revenue €800.00 €800.00 M2
28/02/2026 Receive payment from credit customer (Feb 23 sale) €800.00 - M2
ENDING BALANCE (28/02/2026) €800.00 €800.00 -
Inventory (Normal balance: Debit)
Date Description Debit (€) Credit (€) Balance (€) Ref
04/01/2026 Purchase of initial inventory (supplements, sportswear) on account €8,000.00 €8,000.00 M1
08/01/2026 Sale of merchandise — record cost of goods sold €300.00 €7,700.00 M1
16/01/2026 Purchase additional inventory on account €1,500.00 €9,200.00 M1
18/01/2026 Sale of merchandise — record cost of goods sold €450.00 €8,750.00 M1
27/01/2026 Sale of merchandise — record cost of goods sold €375.00 €8,375.00 M1
03/02/2026 Purchase of additional inventory on account €2,500.00 €10,875.00 M2
05/02/2026 Sale of merchandise — record cost of goods sold €600.00 €10,275.00 M2
12/02/2026 Sale of merchandise — record cost of goods sold €475.00 €9,800.00 M2
14/02/2026 Valentine's special — record cost of goods sold €700.00 €9,100.00 M2
23/02/2026 Sale of merchandise on account — cost of goods sold €400.00 €8,700.00 M2
27/02/2026 Sale of merchandise — record cost of goods sold €400.00 €8,300.00 M2
ENDING BALANCE (28/02/2026) €12,000.00 €3,700.00 €8,300.00
Prepaid Rent (Normal balance: Debit)
Date Description Debit (€) Credit (€) Balance (€) Ref
02/01/2026 Pay 3 months of rent in advance (€3,000/month) €9,000.00 €9,000.00 M1
31/01/2026 Rent expense for January (€9,000 / 3) €3,000.00 €6,000.00 M1A
28/02/2026 Rent expense for February (from prepaid) €3,000.00 €3,000.00 M2A
ENDING BALANCE (28/02/2026) €9,000.00 €6,000.00 €3,000.00
Prepaid Insurance (Normal balance: Debit)
Date Description Debit (€) Credit (€) Balance (€) Ref
05/01/2026 Pay 12-month insurance policy in advance €3,600.00 €3,600.00 M1
31/01/2026 Insurance expense for January (€3,600 / 12) €300.00 €3,300.00 M1A
28/02/2026 Insurance expense for February (€3,600 / 12) €300.00 €3,000.00 M2A
ENDING BALANCE (28/02/2026) €3,600.00 €600.00 €3,000.00
Gym Equipment (Normal balance: Debit)
Date Description Debit (€) Credit (€) Balance (€) Ref
02/01/2026 Purchase of gym equipment (cardio + weights) €60,000.00 €60,000.00 M1
ENDING BALANCE (28/02/2026) €60,000.00 - €60,000.00
Acc. Depreciation - Gym Equipment (Normal balance: Credit)
Date Description Debit (€) Credit (€) Balance (€) Ref
31/01/2026 Depreciation on gym equipment (€60,000 / 60 months) €1,000.00 €1,000.00 M1A
28/02/2026 Depreciation on gym equipment (€60,000 / 60 months) €1,000.00 €2,000.00 M2A
ENDING BALANCE (28/02/2026) - €2,000.00 €2,000.00
Office Equipment (Normal balance: Debit)
Date Description Debit (€) Credit (€) Balance (€) Ref
03/01/2026 Purchase of office equipment (computers, reception desk) €4,800.00 €4,800.00 M1
ENDING BALANCE (28/02/2026) €4,800.00 - €4,800.00
Acc. Depreciation - Office Equipment (Normal balance: Credit)
Date Description Debit (€) Credit (€) Balance (€) Ref
31/01/2026 Depreciation on office equipment (€4,800 / 60 months) €80.00 €80.00 M1A
28/02/2026 Depreciation on office equipment (€4,800 / 60 months) €80.00 €160.00 M2A
ENDING BALANCE (28/02/2026) - €160.00 €160.00
Accounts Payable (Normal balance: Credit)
Date Description Debit (€) Credit (€) Balance (€) Ref
04/01/2026 Purchase of initial inventory (supplements, sportswear) on account €8,000.00 €8,000.00 M1
16/01/2026 Purchase additional inventory on account €1,500.00 €9,500.00 M1
22/01/2026 Payment to supplier (reduce accounts payable) €5,000.00 €4,500.00 M1
03/02/2026 Purchase of additional inventory on account €2,500.00 €7,000.00 M2
16/02/2026 Payment to supplier (reduce accounts payable) €3,000.00 €4,000.00 M2
ENDING BALANCE (28/02/2026) €8,000.00 €12,000.00 €4,000.00
Interest Payable (Normal balance: Credit)
Date Description Debit (€) Credit (€) Balance (€) Ref
31/01/2026 Accrued interest on bank loan (€50,000 x 6% / 12) €250.00 €250.00 M1A
28/02/2026 Pay loan installment — €1,500 principal + €250 Jan interest €250.00 - M2
28/02/2026 Accrued interest on bank loan for February €250.00 €250.00 M2A
ENDING BALANCE (28/02/2026) €250.00 €500.00 €250.00
Unearned Revenue (Normal balance: Credit)
Date Description Debit (€) Credit (€) Balance (€) Ref
31/01/2026 Corporate client pays for February membership in advance €600.00 €600.00 M1
01/02/2026 Recognize earned revenue from January's prepayment €600.00 - M2
ENDING BALANCE (28/02/2026) €600.00 €600.00 -
Bank Loan (Normal balance: Credit)
Date Description Debit (€) Credit (€) Balance (€) Ref
01/01/2026 Long-term bank loan obtained at 6% annual interest €50,000.00 €50,000.00 M1
28/02/2026 Pay loan installment €1,500 principal + €250 Jan interest €1,500.00 €48,500.00 M2
ENDING BALANCE (28/02/2026) €1,500.00 €50,000.00 €48,500.00
Common Stock (Normal balance: Credit)
Date Description Debit (€) Credit (€) Balance (€) Ref
01/01/2026 Owners contribute capital 3 partners x €30,000 €90,000.00 €90,000.00 M1
ENDING BALANCE (28/02/2026) - €90,000.00 €90,000.00
Membership Revenue (Normal balance: Credit)
Date Description Debit (€) Credit (€) Balance (€) Ref
07/01/2026 Sale of 30 monthly memberships €50 (cash) €1,500.00 €1,500.00 M1
15/01/2026 Sale of 50 monthly memberships €50 (cash) €2,500.00 €4,000.00 M1
28/01/2026 Sale of 20 monthly memberships €50 (cash) €1,000.00 €5,000.00 M1
01/02/2026 Recognize earned revenue from January's prepayment €600.00 €5,600.00 M2
02/02/2026 Renewal of 80 monthly memberships €50 (cash) €4,000.00 €9,600.00 M2
06/02/2026 Sale of 25 new monthly memberships (cash) €1,250.00 €10,850.00 M2
20/02/2026 Sale of 15 new memberships (cash) €750.00 €11,600.00 M2
28/02/2026 Sale of 10 new memberships (cash) €500.00 €12,100.00 M2
ENDING BALANCE (28/02/2026) - €12,100.00 €12,100.00
Personal Training Revenue (Normal balance: Credit)
Date Description Debit (€) Credit (€) Balance (€) Ref
10/01/2026 Personal training sessions (cash) €800.00 €800.00 M1
20/01/2026 Personal training sessions (cash) €1,200.00 €2,000.00 M1
30/01/2026 Personal training sessions (cash) €600.00 €2,600.00 M1
08/02/2026 Personal training sessions (cash) €1,500.00 €4,100.00 M2
15/02/2026 Personal training sessions (cash) €1,800.00 €5,900.00 M2
22/02/2026 Personal training sessions (cash) €1,000.00 €6,900.00 M2
ENDING BALANCE (28/02/2026) - €6,900.00 €6,900.00
Merchandise Sales (Normal balance: Credit)
Date Description Debit (€) Credit (€) Balance (€) Ref
08/01/2026 Sale of merchandise (cash) — record revenue €600.00 €600.00 M1
18/01/2026 Sale of merchandise (cash) — record revenue €900.00 €1,500.00 M1
27/01/2026 Sale of merchandise (cash) — record revenue €750.00 €2,250.00 M1
05/02/2026 Sale of merchandise (cash) — record revenue €1,200.00 €3,450.00 M2
12/02/2026 Sale of merchandise (cash) — record revenue €950.00 €4,400.00 M2
14/02/2026 Valentine's special — sale of merchandise (cash) €1,400.00 €5,800.00 M2
23/02/2026 Sale of merchandise on account (credit) — revenue €800.00 €6,600.00 M2
27/02/2026 Sale of merchandise (cash) — record revenue €800.00 €7,400.00 M2
ENDING BALANCE (28/02/2026) - €7,400.00 €7,400.00
Cost of Goods Sold (Normal balance: Debit)
Date Description Debit (€) Credit (€) Balance (€) Ref
08/01/2026 Sale of merchandise — record cost of goods sold €300.00 €300.00 M1
18/01/2026 Sale of merchandise — record cost of goods sold €450.00 €750.00 M1
27/01/2026 Sale of merchandise — record cost of goods sold €375.00 €1,125.00 M1
05/02/2026 Sale of merchandise — record cost of goods sold €600.00 €1,725.00 M2
12/02/2026 Sale of merchandise — record cost of goods sold €475.00 €2,200.00 M2
14/02/2026 Valentine's special — record cost of goods sold €700.00 €2,900.00 M2
23/02/2026 Sale of merchandise on account — cost of goods sold €400.00 €3,300.00 M2
27/02/2026 Sale of merchandise — record cost of goods sold €400.00 €3,700.00 M2
ENDING BALANCE (28/02/2026) €3,700.00 - €3,700.00
Rent Expense (Normal balance: Debit)
Date Description Debit (€) Credit (€) Balance (€) Ref
31/01/2026 Rent expense for January (€9,000 / 3) €3,000.00 €3,000.00 M1A
28/02/2026 Rent expense for February (from prepaid) €3,000.00 €6,000.00 M2A
ENDING BALANCE (28/02/2026) €6,000.00 - €6,000.00
Insurance Expense (Normal balance: Debit)
Date Description Debit (€) Credit (€) Balance (€) Ref
31/01/2026 Insurance expense for January (€3,600 / 12) €300.00 €300.00 M1A
28/02/2026 Insurance expense for February (€3,600 / 12) €300.00 €600.00 M2A
ENDING BALANCE (28/02/2026) €600.00 - €600.00
Utilities Expense (Normal balance: Debit)
Date Description Debit (€) Credit (€) Balance (€) Ref
12/01/2026 Pay utilities bill (electricity + water) €450.00 €450.00 M1
09/02/2026 Pay utilities bill €500.00 €950.00 M2
28/02/2026 Pay phone and internet bill €200.00 €1,150.00 M2
ENDING BALANCE (28/02/2026) €1,150.00 - €1,150.00
Marketing Expense (Normal balance: Debit)
Date Description Debit (€) Credit (€) Balance (€) Ref
05/01/2026 Opening marketing campaign (social media + flyers) €2,000.00 €2,000.00 M1
10/02/2026 Marketing campaign (Valentine's promotion) €800.00 €2,800.00 M2
ENDING BALANCE (28/02/2026) €2,800.00 - €2,800.00
Salary Expense (Normal balance: Debit)
Date Description Debit (€) Credit (€) Balance (€) Ref
25/01/2026 Pay monthly salaries (3 trainers €1,500) €4,500.00 €4,500.00 M1
25/02/2026 Pay monthly salaries €4,500.00 €9,000.00 M2
ENDING BALANCE (28/02/2026) €9,000.00 - €9,000.00
Depreciation Exp. - Gym Equipment (Normal balance: Debit)
Date Description Debit (€) Credit (€) Balance (€) Ref
31/01/2026 Depreciation on gym equipment (€60,000 / 60 months) €1,000.00 €1,000.00 M1A
28/02/2026 Depreciation on gym equipment (€60,000 / 60 months) €1,000.00 €2,000.00 M2A
ENDING BALANCE (28/02/2026) €2,000.00 - €2,000.00
Depreciation Exp. - Office Equipment (Normal balance: Debit)
Date Description Debit (€) Credit (€) Balance (€) Ref
31/01/2026 Depreciation on office equipment (€4,800 / 60 months) €80.00 €80.00 M1A
28/02/2026 Depreciation on office equipment (€4,800 / 60 months) €80.00 €160.00 M2A
ENDING BALANCE (28/02/2026) €160.00 - €160.00
Interest Expense (Normal balance: Debit)
Date Description Debit (€) Credit (€) Balance (€) Ref
31/01/2026 Accrued interest on bank loan (€50,000 x 6% / 12) €250.00 €250.00 M1A
28/02/2026 Accrued interest on bank loan for February €250.00 €500.00 M2A
ENDING BALANCE (28/02/2026) €500.00 - €500.00
Repair & Maintenance Expense (Normal balance: Debit)
Date Description Debit (€) Credit (€) Balance (€) Ref
26/02/2026 Repair and maintenance of gym equipment €350.00 €350.00 M2
ENDING BALANCE (28/02/2026) €350.00 - €350.00