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ANALYZING TRANSACTIONS
SEPTEMBER 30, 2014
1. J. Reyes, a sophomore at State University, started the Speedy Ironing Service with a 125,0
Cash
125,000.00
Account Payable
Cash
8. Sept. 21, Cash collected for Ironing Services performed during the first month amounted to 150,0
Cash
150,000.00
Accounts Receivable
20,000.00
9. Sept. 23, Paid September rent of 50,000.00 for a room used when
Cash
50,000.00
10. Sept. 28, Received 10,000.00 on account.
Cash
10,000.00
Accounts Receivable
10,000.00
Cash
10,000.00
11. Sept. 26, two students paid 5,000.00 each for next week
Unearned Ironing Revenue
Account Payable
30,000.00
ng the first month amounted to 150,000. 20,000 was also due for services rendered.
Ironing Revenue
170,000.00
12-Sep-14
15-Sep-14
18-Sep-14
21-Sep-14
23-Sep-14
24-Sep-14
28-Sep-14
30-Sep-14
ACCOUNT TITLE
Cash
Capital, J. Reyes
Prepaid Advertising
Cash
Ironing Supplies
Cash
Ironing Equipment
Cash
Accounts Payable
Cash
Capital, J. Reyes
Accounts Payable
Cash
Withdrawals, J. Reyes
Cash
Cash
Accounts Receivable
Ironing Revenue
Rent Expense
Cash
Cash
Accounts Receivable
Cash
Unearned Ironing Revenue
Telephone Expense
Cash
DEBIT
125,000.00
60,000.00
10,000.00
60,000.00
25,000.00
15,000.00
30,000.00
150,000.00
20,000.00
50,000.00
10,000.00
10,000.00
20,000.00
CREDIT
125,000.00
60,000.00
10,000.00
30,000.00
30,000.00
25,000.00
15,000.00
30,000.00
170,000.00
50,000.00
10,000.00
10,000.00
20,000.00
PARTICULARS
1-Sep
12-Sep
21-Sep
24-Sep
28-Sep
TOTAL CASH DEBIT
21-Sep
15-Sep
DEBIT
DATE
CASH
125,000.00
2-Sep
25,000.00
4-Sep
150,000.00
6-Sep
10,000.00
15-Sep
10,000.00
18-Sep
320,000.00
23-Sep
30-Sep
ACCOUNTS RECEIVABLE
20,000.00
24-Sep
ACCOUNTS PAYABLE
15,000.00
6-Sep
UNEARNED IRONING REVENUE
28-Sep-14
CAPITAL, J. REYES
1-Sep-14
12-Sep-14
18-Sep-14
WITHDRAWALS, J. REYES
30,000.00
23-Sep-14
RENT EXPENSES
50,000.00
IRONING REVENUE
21-Sep-14
30-Sep-14
TELEPHONE EXPENSE
20,000.00
2-Sep-14
PREPAID ADVERTISING
60,000.00
IRONING SUPPLIES
4-Sep-14
10,000.00
6-Sep-14
IRONING EQUIPMENT
60,000.00
SPEEDY
T
SEPT
SERVICES
OUNT
, 2014
PARTICULARS
CREDIT
60,000.00
10,000.00
30,000.00
15,000.00
30,000.00
50,000.00
20,000.00
215,000.00
EIVABLE
10,000.00
TOTAL
YABLE
30,000.00
G REVENUE
10,000.00
EYES
TOTAL CAPITAL, J. REYES
CREDIT
125,000.00
25,000.00
150,000.00
J. REYES
SES
ENUE
PENSE
RTISING
PLIES
170,000.00
PMENT
DEBIT
105,000.00
10,000.00
60,000.00
10,000.00
60,000.00
CREDIT
15,000.00
10,000.00
150,000.00
30,000.00
170,000.00
50,000.00
20,000.00
345,000.00
345,000.00
REVENUE:
Ironing Revenue
OPERATING EXPENSES:
Rent
Telephone
TOTAL OPERATING EXPENSES
NET INCOME
170,000.00
50,000.00
20,000.00
70,000.00
100,000.00
SPEEDY IRON
BALANC
FOR THE MONTH ENDE
ASSETS
CURRENT ASSETS:
Cash
Accounts Receivable
Prepaid Advertising
Ironing Supplies
Ironing Equipment
105,000.00
10,000.00
60,000.00
10,000.00
60,000.00
Total Assets
245,000.00
100,000.00
30,000.00
Tatal Liabilities:
OWNERS EQUITY
10,000.00
15,000.00
25,000.00
150,000.00
70,000.00
220,000.00
245,000.00