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Book Keeping EXAMPLE

Bagalia Trucking Services journal from August 2017 shows: 1) The owner invested $500,000 cash into the business on August 3rd. 2) Throughout the month, the business received cash from delivery services, incurred various expenses like repairs, salaries, advertising and gasoline, and the owner withdrew $33,000 for personal use. 3) At the end of August, the business's cash balance was $265,000 in debt and it was owed $29,000 by accounts payable.

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12-GOLD AGDON, EARL
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227 views4 pages

Book Keeping EXAMPLE

Bagalia Trucking Services journal from August 2017 shows: 1) The owner invested $500,000 cash into the business on August 3rd. 2) Throughout the month, the business received cash from delivery services, incurred various expenses like repairs, salaries, advertising and gasoline, and the owner withdrew $33,000 for personal use. 3) At the end of August, the business's cash balance was $265,000 in debt and it was owed $29,000 by accounts payable.

Uploaded by

12-GOLD AGDON, EARL
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as XLSX, PDF, TXT or read online on Scribd
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Bagalia Trucking Services Journal

August, 2017

GENERAL JOURAL PAGE 1


Date Account Names & Description P.R. Debit Credit
Aug. 1 Delivery Equipment 130 230,000
Cash 110 230,000
Purchased delivery truck

3 Cash 110 500,000


Capital, Bagalia 210 500,000
Investment of owner

4 Cash 110 50,000


Delivery Income 310 50,000
Cash received for services rendered

9 Advertising Expense 410 3,000


Cash 110 3,000
Paid advertising services

10 Repairs and Maintenance 420 12,300


Cash 110 12,300
Paid for truck repairs

16 Salaries expense 430 6,700


Cash 110 6,700
Paid driver’s salary

19 Accounts Receivable 120 34,000


Delivery Income 310 34,000
Rendered services on account

27 Drawing, Bagalia 220 33,000


Cash 110 33,000
Bought equipment for personal use
using business funds

30 Gasoline Expense 440 29,000


Accounts Payable 230 29,000
Received gasoline bill

GENERAL LEDGER
ACCOUNT: CASH ACCOUNT NO. 110
Date Description J.R. Debit Credit Balance
2017
Aug. 1 Purchased delivery truck J-1 230,000 230,000 Cr
3 Investment of owner J-1 500,000 270,000 Dr
4 Cash received for services rendered J-1 50,000 320,000 Dr
9 Paid advertising services J-1 3,000 317,000 Dr
10 Paid for truck repairs J-1 12,300 304,700 Dr
16 Paid driver’s salary J-1 6,700 298,000 Dr
27 Bought equipment for personal use J-1 33,000 265,000 Dr
using business funds
BALANCE: 265,000 Dr

ACCOUNT: ACCOUNTS RECEIVABLE ACCOUNT NO. 120


Date Description J.R. Debit Credit Balance
2017
Aug. 19 Rendered services on account J-1 34,000 34,000 Dr
BALANCE: 34,000 Dr

ACCOUNT: DELIVERY EQUIPMENT ACCOUNT NO. 130


Date Description J.R. Debit Credit Balance
2017
Aug. 1 Purchased delivery truck J-1 230,000 230,000 Dr
BALANCE: 230,000 Dr

ACCOUNT: CAPITAL, BAGALIA ACCOUNT NO. 210


Date Description J.R. Debit Credit Balance
2017
Aug. 3 Investment of owner J-1 500,000 500,000 Cr
BALANCE: 500,000 Cr

ACCOUNT: DRAWING, BAGALIA ACCOUNT NO. 220


Date Description J.R. Debit Credit Balance
2017
Aug. 27 Bought equipment for personal use J-1 33,000 33,000
using business funds
BALANCE: 33,000 Dr
ACCOUNT: ACCOUNTS PAYABLE ACCOUNT NO. 230
Date Description J.R. Debit Credit Balance
2017
Aug. 30 Received gasoline bill J-1 29,000 29,000
BALANCE: 29,000 Cr

ACCOUNT: DELIVERY INCOME ACCOUNT NO. 310


Date Description J.R. Debit Credit Balance
2017
Aug. 4 Cash received for services rendered J-1 50,000 50,000
19 Rendered services on account J-1 34,000 84,000
BALANCE: 84,000 Cr

ACCOUNT: ADVERTISING EXPENSE ACCOUNT NO. 410


Date Description J.R. Debit Credit Balance
2017
Aug. 9 Paid advertising services J-1 3,000 3,000
BALANCE: 3,000 Dr

ACCOUNT: REPAIRS AND MAINTENANCE ACCOUNT NO. 420


Date Description J.R. Debit Credit Balance
2017
Aug. 10 Paid for truck repairs J-1 12,300 12,300
BALANCE: 12,300 Dr

ACCOUNT: SALARIES EXPENSE ACCOUNT NO. 430


Date Description J.R. Debit Credit Balance
2017
Aug. 16 Paid driver’s salary J-1 6,700 6,700
BALANCE: 6,700 Dr

ACCOUNT: GASOLINE EXPENSE ACCOUNT NO. 440


Date Description J.R. Debit Credit Balance
2017
Aug. 30 Received gasoline bill J-1 29,000 29,000
BALANCE: 29,000 Dr

Bagalia Trucking Services


Trial Balance
August, 2017

ACCOUNT TITLE DEBIT CREDIT

Cash 265,000
Accounts Receivable 34,000
Delivery Equipment 230,000
Capital, Bagalia 500,000
Drawing, Bagalia 33,000
Accounts Payable 29,000
Delivery Income 84,000
Advertising Expense 3,000
Repairs and Maintenance 12,300
Salaries expense 6,700
Gasoline Expense 29,000
613,000 613,000

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