Accounting work - VERY URGENT 6 HRS

General Journal

Date Account# Debit Credit Oct.1 101 Cash 3000

Common stock 3000 ( To record investment in company)

150 Property 760 151 Railroads/ Untilities 0 300 Common stock 760

( To record investment in company)

501 Rent Expense 8 101 Cash 8

( To record rent expense)

101 Cash 30 401 Rental Revenue 30

( To record rental revenue)

Oct.2 150 Property 180 101 Cash 180

( To record purchase for 180)

152 House and Hotel 100 101 Cash 100

( To record purchase for house)

152 House and Hotel 50 101 Cash 50

( To record purchase for house)

Oct.3 501 Rent Expense 625 101 Cash 625

( To record rent expense)

152 House and Hotel 100 101 Cash 100

( To record purchase for house)

Oct.4 151 Utilities 150 101 Cash 150

( To record water works for 150)

Oct.5 104 Supplies 1000 201 Account payable 1000

103 Prepaid Insurance 750 101 Cash 750

101 Cash 100 404 Other revenue 100

( To record other revenue)

Oct.6 101 Cash 200 402 Consulting revenue 200

Oct.9 501 Rent Expense 100 101 Cash 100

( To record rent expense)

Oct.10 501 Rent Expense 130 101 Cash 130

( To record rent expense)

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101 Cash 10 401 Rental Revenue 10

( To record rental revenue)

152 House and Hotel 150 101 Cash 150

( To record purchase for house)

101 Cash 100 404 Other revenue 100

( To create cash account )

General Journal

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Closing Entries Oct. Date Dedit Credit Oct.10 Rent revenue 40

Other Revenue 200 Consulting Revenue 200

Income summary 440 ( To close Revenue Account)

Oct.10 Income Summary 1592.16

Rent Expense 963

Supplies Expense 250 Insurance Expense 375

Depreciation Expense on house 4.16 ( To close expense account)

Oct.10 Income Summary 1152.16

Retain Earning 1152.16 ( To close net income (loss) to retained earning)

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October Trail Balance Adjusting Entries Adjusted Trail Balance Closing Entries Post-Clsoing Trail Balance

Debit Credit Credit Debit Credit Debit Credit Debit Credit Cash US$ 997 US$ 997 US$ 997 Supplies 1,000 250 750 750 Prepaid Insurance 750 375 375 375 Property 940 940 940 Accounts Payable 1,000 1,000 1,000 Returned earning $1152.16 1152.16 Common Stock 3,760 3,760 3,760 House 400 400 400 Rent revenue 40 40 40 Other Revenue 200 200 200 Consulting Revenue 200 200 200 Rent Expense 963 963 963 Supplies Expense 250 250 250 Insurance Expense 375 375 375 Accum Depreciation-House 4.16 4.16 4.16 Depreciation Expense on house 4.16 4.16 4.16 Railroads/ Utilities 150 150 150 Totals 5,200 5,200 629.16 629.16 5204.16 5204.16 1592.16 1592.16 4764.16 4764.16

RE # is net of all other entries

Revenues and Expenses go to All figures above go to

Income Statement to the Balance Sheet Dividents are on Statement of SE

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Adjusting Entries Oct.

Date Debit Credit

Oct. 10 Supplies Expense 250

Supplies 250

( To record supplies used）

Oct.10 Insurance expense 375

Insurance 375

( To record insurance expired

Oct. 10 Depreciation Expense on House/ Hotel 4.16

Accum- Depreciation on House/ Hotel 4.16

( To record depreciation on House/ Hotel)

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October

Income statement

(For the month ended at October 10th)

Revenue

Rent Revenue 40

Other revenue 200

Consulting Revenue 200

Total revenue 440

Expense

Rent Expense 963

Supplies Expense 250

Insurance Expense 375

Depreciation Expense on house 4.16

Total Expense 1592.16

Net loss (1152.16)

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October Balance sheet

October 10, 2018

Assets

Cash 997

Prepaid Insurance 375

Supplies 750

Property 940

Houses 400

Accumulated Depreciation: House (4.16)

Railroads/ Utilities 150

Total assets 3607.84

Liabilities and stockholder’s Equity

Liabilities

Account payable 1000

Total Liabilities 1000

stockholder’s Equity

Common Stock 3,760

Retained earning (1152.16)

Total stockholder’s Equity 2607.84

Total Liabilities and stockholder’s Equity 3607.84

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October

Statement of Stockholder’s Equity

(For the month ended October 10th)

Common stock Retain earning Total

At Oct 1st 3760 0 3760

Issuance of CS 0 0

Net loss (1152.16) (1152.16)

At Oct 10th 3760 (1152.16) 2607.84

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General Journal Date Account# Debit Credit Nov.1 101 Cash 200

402 Consulting revenue 200

508 Income Tax expense 150 101 Cash 150

( To record school tax for 150)

Nov.2 501 Rent Expense 40 101 Cash 40

( To record rent expense)

101 Cash 14 401 Rental Revenue 14

( To record rental revenue)

Nov.3 501 Rent Expense 60 101 Cash 60

( To record rent expense)

Nov.7 101 Cash 10 401 Rental Revenue 10

( To record rental revenue)

101 Cash 50 401 Rental Revenue 50

( To record rental revenue)

Nov.8 101 Cash 200 402 Consulting revenue 200

Nov.9 101 Cash 110 401 Rental Revenue 110

( To record rental revenue)

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Trail Balances

Trail Balance Adjusting Entries Adjusted Trail Balance Closing Entries Post-Clsoing Trail Balance Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit

Cash US$ 1,331 US$1,331 US$ 1,331 Supplies 750 187.5 562.5 562.5 Prepaid Insurance 375 375 - - Property 940 940 940 Accounts Payable 1,000 1,000 1,000 Returned earning 1152.16 1152.16 $ 232.66 1384.82 Common Stock 3,760 3,760 3,760 House and Hotel 400 400 400 Rental revenue 184 184 184 Consulting Revenue 400 400 400 Rent Expense 100 100 100 Income Tax expense 150 150 150 Supplies Expense 187.5 187.5 187.5 Insurance Expense 375 375 375 Accum Depreciation-House 4.16 4.16 8.32 8.32 Depreciation Expense on house 4.16 4.16 4.16 Railroads/ Utilities 150 150 150 Totals 5348.16 5348.16 566.66 566.66 5352.32 5352.32 816.66 816.66 4768.32 4768.32

RE # is net of all other entries

Revenues and Expenses go to All figures above go to

Income Statement to the Balance Sheet Dividents are on Statement of SE

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Closing Entries Nov. Date Dedit Credit

Nov.10 Rental revenue 184

Consulting Revenue 400

Income summary 584

( To close Revenue Account)

Nov.10 Income Summary 816.66

Rent Expense 100

Supplies Expense 187.5

Insurance Expense 375

Income Tax expense 150

Depreciation Expense on house 4.16

( To close expense account)

Nov.10 Income Summary 232.66

Retain Earning 232.66

( To close net income (loss) to retained earning)

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Adjusting Entries Nov.

Date Debit Credit

Nov. 10 Supplies Expense 187.5

Supplies 187.5

( To record supplies used）

Nov.10 Insurance expense 375

Insurance 375

( To record insurance expired

Nov. 10 Depreciation Expense on House/ Hotel 4.16

Accum- Depreciation on House/ Hotel 4.16

( To record depreciation on House/ Hotel)

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November

Income statement

(For the month ended at November 10th)

Revenue

Rent Revenue 184

Consulting Revenue 400

Total revenue 584

Expense

Rent Expense 100

Supplies Expense 187.5

Insurance Expense 375

Income Tax expense 150

Depreciation Expense on house 4.16

Total Expense 816.66

Net loss (232.66)

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November Balance sheet

November 10, 2018

Assets

Cash 1331

Prepaid Insurance 0

Supplies 562.5

Property 150

Houses 395.84

Accumulated Depreciation: House (4.16)

Property 940

Total assets 3375.18

Liabilities and stockholder’s Equity

Liabilities

Account payable 1000

Total Liabilities 1000

stockholder’s Equity

Common Stock 3,760

Retained earning (1384.82)

Total stockholder’s Equity 2375.18

Total Liabilities and stockholder’s Equity 3775.18

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November Statement of Stockholder’s Equity

(For the month ended October 10th)

Common stock Retain earning Total

At Nov. 1st 3760 (1152.16) 2607.84

Issuance of CS 0 0 Net loss (232.66) (232.66)

At Oct 10th 3760 (1384.82) 2375.18

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November

Statement of Cash Flows

For the Month ended November 10, 2018

Cash Flows From Operating Activities

Cash receipts from operating activities 584

Cash payments from operating activities 250

Net Cash provided by operating activities 334

Cash Flows From Investing Activities 0

Cash Flows From Financing Activities 0

Net increase in cash 334

Cash at beginning of period 997

Cash at end of Period 1331

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