Question

Q. 2. Bob Sample opened Campus Laundry on September 1, 2015. During the first month of operations the following transactions occurred.

September 1: Stockholders invested 80,000 SR cash in the business.

September 2: Cash deposited into Commercial Bank SR 15,000.

September 3: Paid 2,500 SR cash for store rent for the month of September.

September 4: Purchased washers and dryers for 45,000 SR

September 6: Paid 2,800 SR for one-year insurance policy.

September 20: Declared and paid a 2,900 SR cash dividend to stockholders.

September 30: Determined that cash receipts for laundry fees for the month were 25,200 SR.

Instructions:

1. Journalize the September transactions.
2. Open ledger accounts from the September transactions.
3. Prepare a trial balance at September 30, 2015.

Answer 1

Journal Book of Campus Laundry
Date	Particulars	Dr. Amount	Cr. Amount
01.09.2015	Cash A/C	80000
	To Equity A/C		80000
02.09.2015	Bank A/C	15000
	To Cash A/C		15000
03.09.2015	Rent A/C	2500
	To Cash A/C		2500
04.09.2015	Washers and Dryers A/C	45000
	To Cash A/C		45000
06.09.2015	Insurance Expenses A/C	2800
	To Cash A/C		2800
20.09.2015	Dividend A/C	2900
	To Cash A/C		2900
30.09.2015	Cash A/C	25200
	To Misc. Receipts		25200

Ledger Accounts:

Cash A/C
Particulars	Amount	Particulars	Amount
To equity	80000	By Bank	15000
To Misc. Receipts	25200	By Rent	2500
		By Washers and Dryers	45000
		By Insurance Expenses	2800
		By dividend	2900
		By Balance c/d	37000
	105200		105200
Equity A/C
Particulars	Amount	Particulars	Amount
To Balance c/d	80000	By Cash A/c	80000
Misc. Receipts A/C
Particulars	Amount	Particulars	Amount
To Balance c/d	25200	By Cash A/c	25200
Bank A/C
Particulars	Amount	Particulars	Amount
To Cash A/C	15000	By Balance c/d	15000
Rent A/C
Particulars	Amount	Particulars	Amount
To Cash A/C	2500	By Balance c/d	2500
Washers and Dryers A/C
Particulars	Amount	Particulars	Amount
To Cash A/C	45000	By Balance c/d	45000
Insurance Expenses A/C
Particulars	Amount	Particulars	Amount
To Cash A/C	2800	By Balance c/d	2800
Dividend A/C
Particulars	Amount	Particulars	Amount
To Cash A/C	2900	By Balance c/d	2900

Trial Balance of Campus Laundry
Particulars	Dr. Amount	Cr. Amount
Equity	80000
Misc. Receipts	25200
Bank		37000
Cash		15000
Rent		2500
Washers and Dryers		45000
Insurance Expenses		2800
Dividend		2900
	105200	105200