Name Shelton Engineering

General Journal
GENERAL JOURNAL

Date Account Titles and Explanation Debit Credit

a Cash 105000
Office Equipment 6000
Drafting Equipment 45000
S. Shelton's Capital 156000
b Land 54000
Cash 5400
Note payable 48600
c Building 75000
Cash 75000
d Prepaid Insurance (Asset) 6000
Cash 6000
e Cash 5700
Fees earned (revenue) 5700
f Drafting Equipment 22500
Cash 10500
Note payable 12000
g Acc. Receivable 12000
Fees earned (revenue) 12000
h Office Equipment 2250
Acc. Payable 2250
i Acc. Receivable 18000
Fees earned (Revenue) 18000
j Rent Exp 1200
Acc. Payable 1200
k Cash 7200
Acc. Receivable 7200
l Wage Exp 1500
Cash 1500
m Acc. Payable 2250
Cash 2250
n Repairs Exp 675
Cash 675
o O. Withdrawal 9360
Cash 9360
p Wage Exp 1500
Cash 1500
q Ads Exp 3000
Cash 3000
 Name Shelton Engineering
General Ledger

GENERAL LEDGER

Cash ACCOUNT NO. ____

Date Explanation P.R. DEBIT CREDIT
105000
5400
75000
6000
5700
10500
7200
1500
2250
675
9360
1500
3000
Office Equipment ACCOUNT NO. ____
Date Explanation P.R. DEBIT CREDIT
(Pay cash for office supplies) 6000
(Buy supplies on credit) 2250

Drafting Equipment ACCOUNT NO. ____

Date Explanation P.R. DEBIT CREDIT
(Buy equipment by cash) 45000
22500

Acc. Receivable ACCOUNT NO. ____

Date Explanation P.R. DEBIT CREDIT
(Investment by owner) 12000
18000
7200

Building ACCOUNT NO. ____

Date Explanation P.R. DEBIT CREDIT
Service revenue 75000

Land ACCOUNT NO. ____

Date Explanation P.R. DEBIT CREDIT
(Buy supplies on credit) 54000
elton Engineering

ACCOUNT NO. ____

BALANCE
105,000
99,600
24,600
18,600
24,300
13,800
21,000
19,500
17,250
16,575
7,215
5,715
2,715
ACCOUNT NO. ____
BALANCE
6,000
8,250

ACCOUNT NO. ____

BALANCE
45,000
67,500

ACCOUNT NO. ____

BALANCE
12,000
30,000
22,800

ACCOUNT NO. ____

BALANCE
75,000

ACCOUNT NO. ____

BALANCE
54,000
 Name Shelton Engineering
Trial Balance

Unadjusted Trial Balance

Debit Credit
Cash 2,715
Off. Equipment 8,250
Draft Equipment 67,500
Acc. Receivable 22,800
Building 75,000
Land 54,000
Prepaid Insurance 6,000
Acc. Payable 1,200
Note Payable 60,600
O. Capital 156,000
O. Withdrawal 9,360
Fees earned 35,700
Wage Exp 3000
Rent Exp 1200
Ads Exp 3000
Repairs Exp 675

Totals 253,500 253,500

 WATSON TECHNICAL INSTITUTE
Adjusted Trial Balance
For Year Ended December 31, 2011
Unadj TB Adj entry ADJUSTED TB
DR CR DR CR DR CR
Cash 26,000 26,000
Accounts receivable - 7,500 7,500
Teaching supplies 10,000 7,400 2,600
Prepaid insurance 15,000 3,000 12,000
Prepaid rent 2,000 2,000 -
Professional library 30,000 30,000
Accumulated depreciation, professional library 9,000 6,000 15,000
Equipment 70,000 70,000
Accumulated depreciation, equipment 16,000 12,000 28,000
Accounts payable 36,000 36,000
Salaries payable - 400 400
Unearned training fees 11,000 4,400 6,600
T. Watson, capital 63,600 63,600
T. Watson, withdrawals 40,000 40,000
Tuition fees earned 102,000 7,500 109,500
Training fees earned 38,000 4,400 42,400
Depreciation expense, Professiona - 6,000 6,000
Depreciation expense, Equipment - 12,000 12,000
Salaries expense 48,000 400 48,400
Insurance expense - 3,000 3,000
Rent expense 22,000 2,000 24,000
Teaching supplies expense - 7,400 7,400
Advertising expense 7,000 7,000
Utilities expense 5,600 5,600
Total 275,600 275,600 42,700 42,700 301,500 301,500
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INCOME SUMMARY
Debit Income summary
CLOSING ENTRIES POST CLOSING TB
DR CR DR CR
26,000
7,500
2,600
12,000
-
30,000
15,000
70,000
28,000
36,000
400
6,600
40,000 38,500 62,100
40,000
109,500
42,400
6,000
12,000
48,400
3,000
24,000
7,400
7,000
5,600
148,100 148,100

113,400 151,900
38,500
 Name
Income Statement

Company Name
Income Statement
For Month Ended Date, Year
Revenues:
Tuition fees earned $ 109,500
Training fees earned $ 42,400
Total revenues $ 151,900
Expenses:
Depreciation expense, Professional library 6,000
Depreciation expense, Equipment 12,000
Salaries expense 48,400
Insurance expense 3,000
Rent expense 24,000
Teaching supplies expense 7,400
Advertising expense 7,000
Utilities expense 5,600
Total expenses 113,400
Net income $ 38,500
 Name
Balance Sheet

Company Name
Statement of Changes in Owner's Equity
For Month Ended Date, Year
T. Wells, Capital, December 31, 2008 $ 63,600
Plus net income 38,500
Total $ 102,100
Less withdrawals by owner 40,000
T. Wells, Capital, December 31, 2009 $ 62,100

Company Name
Balance Sheet
For Month Ended Date, Year Debit Credit
Assets
Cash 26,000
Accounts receivable 7,500
Teaching supplies 2,600
Prepaid insurance 12,000
Prepaid rent -
Professional library 30,000
Accumulated depreciation, professional library 15000
Equipment 70,000
Accumulated depreciation, equipment 28000
TOTAL ASSETS 105,100
Liabilities
Accounts payable 36000
Salaries payable 400
Unearned training fees 6600
Total liabilities 43000
Owner's Equity
T. Wells, capital $ 62,100
Total liabilities and equity $ 105,100