UNADJUSTED TRIAL BALANCE

ACCOUNT TITLES PR Debit

CHART OF ACCOUNTS
ASSETS CASH 111 15,430.00
ACCOUNTS RECEIVABLE 113 5,900.00
OFFICE SUPPLIES 114 22,800.00
PREPAID RENT 115 36,000.00
EQUIPMENT 117 80,000.00
LIABILITIES ACCOUNTS PAYABLE 211
NOTES PAYABLE 212
UTILITIES PAYABLE 215
OWNER'S EQUITY MO,CAPITAL 311
MO, DRAWING 312 5,000.00
INCOME SERVICE REVENUE 411
EXPENSES WAGES EXPENSE 511 38,200.00
ADVERTISING EXPENSE 513 5,000.00
UTILITIES EXPENSE 516 3,964.00
MISCELLANEOUS EXPENSE 518 3,470.00
ASSETS ACCUMULATED DEPRECIATION-EQUIPMENT
LIABILITIES INTEREST PAYABLE
EXPENSES OFFICE SUPPLIES EXPENSE
RENT EXPENSE
DEPRECIATION EXPENSE
INTEREST EXPENSE
Totals 215,764.00

Net Income
Total
 GANDA Co.
Worksheet
For the Month Ended 31 January
UNADJUSTED TRIAL BALANCE ADJUSTMENTS ADJUSTED TRIAL BALANCE INCOME STATEMENT
Credit Debit Credit Debit Credit Debit

15,430.00
5,900.00
18,480.00 4,320.00
12,000.00 24,000.00
80,000.00
5,200.00 5,200.00
20,000.00 20,000.00
3,964.00 3,964.00
100,000.00 100,000.00
5,000.00
86,600.00 86,600.00
38,200.00 38,200.00
5,000.00 5,000.00
3,964.00 3,964.00
3,470.00 3,470.00
1,100.00 1,100.00
150.00 150.00
18,480.00 18,480.00 18,480.00
12,000.00 12,000.00 12,000.00
1,100.00 1,100.00 1,100.00
150.00 150.00 150.00
215,764.00 31,730.00 31,730.00 217,014.00 217,014.00 82,364.00
4,236.00
86,600.00
INCOME STATEMENT BALANCE SHEET POST-CLOSING TRIAL BALANCE
Credit Debit Credit Debit Credit

15,430.00 15,430.00
5,900.00 5,900.00
4,320.00 4,320.00
24,000.00 24,000.00
80,000.00 80,000.00
5,200.00 5,200.00
20,000.00 20,000.00
3,964.00 3,964.00
100,000.00 99,236.00
5,000.00
86,600.00

1,100.00 1,100.00
150.00 150.00

86,600.00 134,650.00 130,414.00 129,650.00 129,650.00 -

4,236.00
86,600.00 134,650.00 134,650.00
 GANDA Co.
General Journal
For the month ended January

Page: 1
1
Date Description PR Debit Credit

1 Jan 1 Cash (A) P 1 0 0 0 0 0-

2 MO Capital (OE) P 1
3 To record initial Investment
4
5 2 Prepaid Rent (A) P 3 6 0 0 0-
6 Cash (A) P
7 To record advance rent payment
8
9 3 Equipment (A) P 8 0 0 0 0-
10 Cash (A) P
11 Notes Payable (L)
To record the partial payment of the acquistion of
12 Equipment
13
14 4 Office Supplies (A) P 1 7 6 0 0-
15 Accounts Payable (L) P
16 To record the office Suppplies purchased
17
18 13 Cash (A) P 2 8 5 0 0-
19 Service Revenue (I) P
20 To record the payment from the customer
21
22 13 Accounts Payable (L) P 1 7 6 0 0-
23 Cash (A) P
24 To record the payment of office supplies
25
26 14 Wages Expense (E) P 1 9 1 0 0-
27 Cash (A) P
28 To record the payment of employee's salaries
29
30 18 Cash (A) P 3 2 9 0 0-
31 Accounts Receivable (A) p 2 1 2 0 0-
32 Service Revenue (I) p
33
34 TOTAL P 3 5 2 9 0 0-
35 P 3
36
37

GANDA Co.
General Journal
For the month ended January

Page: 2
1
Date Description PR Debit Credit

1 Jan 23 Cash (A) P 1 5 3 0 0-

2 Accounts Receivable (A) P
3 To record the settlement made by the customer
4
5 25 Cash (A) P 4 0 0 0-
6 Service Revenue (I) P
7 To record payment of Ms. Chill
8
9 26 Office Supplies (A) P 5 2 0 0-
10 Accounts Payable (L) P
11 To record the purchase of office supplies on account
12
13 28 Wages Expense (E) P 1 9 1 0 0-
14 Cash (A) P
15 To record payment of Employees' Salaries
16
17 31 Advertising Expense (E) P 5 0 0 0-
18 Cash (A) P
19 To record payment for advertising
20
21 31 Utilities Expense (E) P 2 4 7 0-
22 Utilities Payable (L) P
23 To record payment of utilities
24
25 31 Utilities Expense (E) P 1 4 9 4-
26 Utilities Payable (L) P
27 To record payment of Telephone Bill
28
29 31 Miscellaneous Expense (E) P 3 4 7 0-
30 Cash (A) P
31 To record payment of miscillaneous expenses
32
33 31 Mo, Drawing (OE) P 5 0 0 0-
34 Cash (A) P
35 To record Mo withdrawal
36
37 TOTAL P 6 1 0 3 4- P

8
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12
13
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23
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 Heading

2
Credit

1
0 0 0 0 0- 2
3
4
5
3 6 0 0 0- 6
7
8
9
6 0 0 0 0- 10
2 0 0 0 0- 11

12
13
14
1 7 6 0 0- 15
16
17
18
2 8 5 0 0- 19
20
21
22
1 7 6 0 0- 23
24
25
26
1 9 1 0 0- 27
28
29
30
31
5 4 1 0 0- 32
33
34
5 2 9 0 0- 35
 36
37

Heading

2
Credit

1
1 5 3 0 0- 2
3
4
5
4 0 0 0- 6
7
8
9
5 2 0 0- 10
11
12
13
1 9 1 0 0- 14
15
16
17
5 0 0 0- 18
19
20
21
2 4 7 0- 22
23
24
25
1 4 9 4- 26
27
28
 29
3 4 7 0- 30
31
32
- 33
5 0 0 0 34
35
36
6 1 0 3 4- 37

Heading

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GANDA Co.
GENERAL LEDGER
Account: CASH 111
Date Item PR Debit Credit
1-Jan Initial Invesment GJ-1 100,000.00
2-Jan Rent Payment GJ-1 36,000.00
13-Jan Partial Payment-Equipment GJ-1 60,000.00
13-Jan Payment from the customer GJ-1 28,500.00
14-Jan Payment of office supplies GJ-1 17,600.00
14-Jan Salaries paid GJ-1 19,100.00
18-Jan Partial Collection from a customer GJ-1 32,900.00
23-Jan Settlement made by the customer GJ-2 15,300.00
24-Jan Collection from Ms. Chill GJ-2 4,000.00
28-Jan Salaries paid GJ-2 19,100.00
31-Jan Advertising GJ-2 5,000.00
31-Jan Miscellaneous GJ-2 3,470.00
31-Jan Withdawal GJ-2 5,000.00
Total 180,700.00 165,270.00
Balance 15,430.00

Account: ACCOUNTS RECEIVABLE 113

Date Item PR Debit Credit
18-Jan Due from a customer GJ-1 21,200.00
23-Jan Partial Payment GJ-2 15,300.00
Total 21,200.00 15,300.00
Balance 5,900.00

Account: OFFICE SUPPLIES 114

Date Item PR Debit Credit
4-Jan Purchases GJ-1 17,600.00
24-Jan Purchases GJ-2 5,200.00
31-Jan Used AJ-1 18,480.00
Total 22,800.00 18,480.00
Balance 4,320.00

Account: PREPAID RENT 115

Date Item PR Debit Credit
2-Jan Prepaid Rental for three months GJ-1 36,000.00
31-Jan One month used AJ-1 12,000.00
Total 36,000.00 12,000.00
Balance 24,000.00

Account: EQUIPMENT 117

Date Item PR Debit Credit
3-Jan Acquisition GJ-1 80,000.00
 Total 80,000.00

Account: ACCOUNTS PAYABLE 211

Date Item PR Debit Credit
4-Jan Office Supplies GJ-1 17,600.00
13-Jan Settled GJ-1 17,600.00
26-Jan Office Supplies GJ-2 5,200.00
Total 17,600.00 22,800.00
Balance 5,200.00

Account: NOTES PAYABLE 212

Date Item PR Debit Credit
3-Jan Promissory note GJ-1 20,000.00
Total 20,000.00

Account: UTILITIES PAYABLE 215

Date Item PR Debit Credit
31-Jan Utilities GJ-1 2,470.00
31-Jan Telephone Bill GJ-1 1,494.00
Total 3,964.00

Account: MO CAPITAL 311

Date Item PR Debit Credit
1-Jan Initial Investment GJ-1 100,000.00
31-Jan Closing the Income Summary CJ-1 4,236.00
31-Jan Closing the Withdrawal CJ-1 5,000.00
Total 99,236.00

Account: MO DRAWINGS 312

Date Item PR Debit Credit
31-Jan Withdrawal GJ-2 5,000.00
31-Jan Closing the Withdrawal CJ-1 5,000.00
Total -

Account: SERVICE REVENUES 411

Date Item PR Debit Credit
13-Jan Payment from Customer GJ-1 28,500.00
18-Jan Payment from Customer GJ-1 54,100.00
25-Jan Payment from Ms. Chill GJ-2 4,000.00
31-Jan Closing the Income Account CJ-1 86,000.00
-

Account: WAGES EXPENSE 511

Date Item PR Debit Credit
 14-Jan Wages GJ-1 19,100.00
28-Jan Wages GJ-2 19,100.00
31-Jan To close the Expense Account CJ-1 38,200.00
Total -

Account: ADVERTISING EXPENSE 513

Date Item PR Debit Credit
31-Jan Advertising GJ-2 5,000.00
31-Jan To close the Expense Account CJ-1 5,000.00
Total -

Account: UTILITIES EXPENSE 516

Date Item PR Debit Credit
31-Jan Utilities GJ-2 2,470.00
31-Jan Telephone GJ-2 1,494.00
31-Jan To close the Expense Account CJ-1 3,964.00
Total -

Account: MISCELLANEOUS EXPENSE 518

Date Item PR Debit Credit
31-Jan Various GJ-2 3,470.00
31-Jan To close the Expense Account CJ-1 3,470.00
Total -

Account: OFFICE SUPPLIES EXPENSE No PR

Date Item PR Debit Credit
31-Jan Used AJ-1 18,480.00
31-Jan To close the Expense Account CJ-1 18,480.00
Total -

Account: RENT EXPENSE No PR

Date Item PR Debit Credit
31-Jan Used AJ-1 12,000.00
31-Jan To close the Expense Account CJ-1 12,000.00
Total -

Account: DEPRECIATION EXPENSE No PR

Date Item PR Debit Credit
31-Jan Monthly AJ-1 1,100.00
31-Jan To close the Expense Account CJ-1 1,100.00
Total -

Account: ACCUMULATED DEPRECIATION No PR

Date Item PR Debit Credit
31-Jan Monthly AJ-1 1,100.00
Total 1,100.00

Account: INTEREST EXPENSE No PR

Date Item PR Debit Credit
31-Jan Monthly AJ-1 150.00
31-Jan To close the Expense Account CJ-1 150.00
Total -

Account: INTEREST PAYABLE No PR

Date Item PR Debit Credit
31-Jan Monthly AJ-1 150.00
Total 150.00

Account: INCOME SUMMARY NO PR

Date Item PR Debit Credit
31-Jan Closing the Income Entry CJ-1 86,600.00
31-Jan Closing the Expense Entry CJ-1 82,364.00
31-Jan Closing the Income Summary CJ-1 4,236.00
Total 86,600.00 86,600.00
Balance -
 GANDA Co.
Adjusting Journal Entry
For the month ended January

Page: 1
1
Date Description PR Debit Credit

1 Jan 31 Office Supplies Expense (E) P 1 8 4 8 0-

2 Office Supplies (A) 114 P
3 To adjust the actual office supplies unused
4
5 31 Rent Expense (E) P 1 2 0 0 0-
6 Prepaid Rent (A) 115 P
7 To adjust the prepaid rentals
8
9 31 Depreciation Expense-Equipment (E) P 1 1 0 0-
10 Accumulated Depreciation (A) P
11 To adjust the value of the equipment
12
13 31 Interest Expense (E) P 1 5 0-
14 Interest Payable (L)
15 To adjust the montly interest incurred
16
17 Total P 3 1 7 3 0- P
18
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22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37

GANDA Co.
General Journal
For the month ended January

Page: 2
1
Date Description PR Debit Credit
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
 Heading

2
Credit

1
1 8 4 8 0- 2
3
4
5
1 2 0 0 0- 6
7
8
9
1 1 0 0- 10
11
12
13
1 5 0- 14
15
16
3 1 7 3 0- 17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
 37

Heading

2
Credit
Heading
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
 Ganda Co.
Closing Journal Entry
For the Month Ended 31 January

Page: 1
1
Date Description PR Debit

1 Jan 31 Service Revenues 411 P 8 6 6 0 0-

2 Income Summary
3 To close the Income Account
4
5 31 Income Summary P 8 2 3 6 4-
6 Wages Expense 511
7 Advertising Expense 513
8 Utilities Expense 516
9 Miscellaneous Expense 518
10 Office Supplies Expense
11 Rent Expense
12 Depreciation Expense
13 Interest Expense
14 To close the Expense Accout
15
16 31 Income Summary P 4 2 3 6-
17 Mo Capital 311
18 To close the Income Summary
19
20 31 Mo Capital 311 P 5 0 0 0-
21 Mo Drawings 312
22 To close the Withdrawal
23
24 Total P 1 7 7 6 0 0-
25
26
27
28
29
30
31
32
33
34
35
36
37 Total
 8
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25
26
27
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 Heading

1
2
Credit

1
P 8 6 6 0 0- 2
3
4
5
P 3 8 2 0 0- 6
P 5 0 0 0- 7
P 3 9 6 4- 8
P 3 4 7 0- 9
P 1 8 4 8 0- 10
P 1 2 0 0 0- 11
P 1 1 0 0- 12
P 1 5 0- 13
14
15
16
P 4 2 3 6- 17
18
19
20
P 5 0 0 0 21
22
23
P 1 7 7 6 0 0 24
25
26
27
28
29
30
31
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33
34
35
36
- 37

Heading
 Heading

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 GANDA Co.
INCOME STATEMENT
For the Month Ended 31 January

SERVICE REVENUES 86,600.00

LESS EXPENSES
WAGES EXPENSE 38,200.00
ADVERTISING EXPENSE 5,000.00
UTILITIES EXPENSE 3,964.00
MISCELLANEOUS EXPENSE 3,470.00
OFFICE SUPPLIES EXPENSE 18,480.00
RENT EXPENSE 12,000.00
DEPRECIATION EXPENSE 1,100.00
INTEREST EXPENSE 150.00 82,364.00
NET INCOME 4,236.00
 GANDA Co.
STATEMENT OF CHANGES IN OWNER'S EQUITY
For the Month Ended 31 January

BEGINNING CAPITAL 100,000.00

ADD: NET INCOME 4,236.00
SUBTOTAL 104,236.00
LESS : WITHDRAWAL 5,000.00
ENDING CAPITAL 99,236.00
 GANDA Co.
STATEMENT OF FINANCIAL POSITION
For the Month Ended 31 January

ASSETS
CURRENT ASSETS
CASH 15,430.00
ACCOUNTS RECEIVABLE 5,900.00
OFFICE SUPPLIES 4,320.00
PREPAID RENT 24,000.00
TOTAL CURRENT ASSETS 49,650.00
NONCURRENT ASSETS
EQUIPMENT 80,000.00
ACCUMULATED DEPRECIATION-EQUIPMENT 1,100.00
TOTAL NONCURRENT ASSETS 78,900.00
TOTAL ASSETS 128,550.00

LIABILITIES AND OWNER'S EQUITY

CURRENT LIABILITIES
ACCOUNTS PAYABLE 5,200.00
NOTES PAYABLE 20,000.00
UTILITIES PAYABLE 3,964.00
INTEREST PAYABLE 150.00
TOTAL CURRENT LIABILITIES 29,314.00
NONCURRENT LIABILITIES
TOTAL NON CURRENT LIABILITIES -
TOTAL LIABILITIES 29,314.00

CAPITAL 100,000.00
LESS:WITHDRAWAL (5,000.00)
ADD:NET INCOME 4,236.00
TOTAL OWNER'S EQUITY 99,236.00
TOTAL LIABILITIES AND OWNER'SEQUITY 128,550.00
 GANDA Co.
STATEMENT OF CASH FLOW
For the Month Ended 31 January

OPERATING ACTIVITIES
CASH COLLECTED FROM CUSTOMERS 80,700.00
CASH PAID FOR RENTALS 36,000.00
CASH PAID FOR OFFICE SUPPLIES 17,600.00
CASH PAID TO EMPLOYEES 38,200.00
CASH PAID FOR ADVERTISING 5,000.00
CASH PAID FOR MISCELLANEOUS 3,470.00
CASH PROVIDED FROM OPERATING ACTIVITIES (19,570.00)

INVESTING ACTIVITIES
PARTIAL PAYMENT-EQUIPMENT 60,000.00
CASH PROVIDED FROM INVESTING ACTIVITIES (60,000.00)

FINANCING ACTIVITIES
WITHDRAWAL 5,000.00
CASH PROVIDED FROM FINANCING ACTIVITIES (5,000.00)

DECREASE IN CASH (84,570.00)

ADD:BEGINNING CASH 100,000.00
ENDING CASH 15,430.00