khan rental (2)
TRANSCRIPT
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Khan Rental
JournalDate Description Debit Credit
1-SepBank 100,000 Khan Auto's Capital 100,000
(Deposited Cash in Bank Account
1-Sep!repaid Rent ",000
Cash ",000
(Cash paid #or rent in ad$ance
1-SepRental %&uipent 10,000
Cash )0,000
*ote !a+able 110,000
(!urchased %&uipent in Cash o# )0,000 and
reainin on note pa+able at " interest
.-Sep/ce Supplies 120
Account !a+able (3odern /ce Co4 120
(!urchased oce supplies on account
-Sep Cash 10,000
5nearned Rental %&uipent 6ee 10,000
(Reci$ed Cash in ad$ance on rental e&uipent
17-SepSalaries 200
Cash 200
(Salaries paid #or t8o 8eeks
19-Sep Cash 9200
Debtors 00
Rental #ee 100
(earned Re$enue on rental #ee
1)-Sep 3aintenance %:pense 2.0
Account !a+able 2.0
(Repairin e:penses incuured pa+net is due
72-Sep Cash 710
Debtor's 710
(Aount collected on account o# 19 sep
7)-Sep Account !a+able 2.0
Cash 2.0(Aount paid to earth o$e ;nc,4
7-Sep Khan Auto's Dra8ins 7000
Bank 7000
(Khan 8ithdra8 cash #or personal use
7"-Sep ;nsurance !olic+ 7)00
Cash 7)00
(!aid ;nsurance polic+
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20-Sep 5tilit+ %:pense 7)0
Bills pa+able 7)0
(5tilit+ %:pense incurred aount is due
20-Sep Cash .90
%&uip8nt Rental 6ee .90
(Cash recei$ed #or Rental e&uipent
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Bank
1-Sep Khan Auto's Capital 100,000
7-Sep
100,000
Cash
5nearned Rental %&uipent #ee 10000
Rental 6ee 9200
Account Recie$able 710
%&uipent Rental 6ee .90
Bal4 109.0
Khan Auto's Capital
100,000
100,000
Prepaid Rent
Cash "000
"000
Rental Equipment
Cash )0,000
*ote pa+ble 110,000
10,000
ote Pa!a"le
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Bal4 110,000
110,000
#$%e &upplies
Account !a+able 120
120
A%%ount Pa!a"le
Cash 2.0
Bal4 120
1")0
nearned Renatl (ee
Bal4 10,000
10,000
&alaries
Cash 200
200
A%%ount Re%ie)a"le
Rental 6ee 00
00
Rental *ee
Bal4 1.990
1.990
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+aintean%e Epense
Account !a+able 2.0
2.0
Khan Auto's -ra.in/s
Bank 7000
7000
nsuran%e Poli%!Cash 7)00
7)00
tilit! Epense
Bills !a+able 7)0
7)0
Bills Pa!a"le
Bal4 7)0
7)0
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Khan Auto's Dra8ins 7000
Balance "000100,000
!repaid Rent "000
%&iupent )0000
Salaries 200
Account !a+able 2.0
;nsurance !olic+ 7)00
9.0
Bank 100,000
100,00
Bal4 "000
"000
Bal4 10,000
10,000
%&uipent 110,000
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110,000
Bal4 120
120
/ce Supplies 120
3aintenance %:pense 2.0
1")0
Cash 10,000
10,000
Bal4 200
200
Cash 710
Bal4 9"0
00
Cash 9200
Account Reci$eable 00
Cash .90
1.990
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Bal4 2.0
2.0
Bal4 7000
7000
Bal4 7)00
7)00
Bal4 7)0
7)0
5tilit+ 7)0
7)0
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Khan Rental
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Ad1ustin/ Entries
Date Description Debit Credita Rent %:pense 2000
!repaid %:pense 2000(Rent paid in ad$ance has co$ered
b ;nterest %:pense 79
;nterest !a+able 79
(interest %:pense on notepa+able
c Depreciation %:pense 1900
Accuulated Depreciation 1900
(Depreciation on e&uipent
D /ce Supplies %:pense 920
/ce Supplies 920
(/c supplies cash on hand is 1100
e 5nearned #ee ..0
Rental 6ee ..0
# Account Recie$able 900
Rental 6ee 900
Salaries %:pense "00
Salaries !a+able "00
170"9 170"9
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Ad1usted rial Balan%e
Account
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n%ome &tatemnet
Aount (Rs4
Re$enue=
Rental 6ee 1""0
5nearned #ee
>ross !ro?t 1""0
@ess %:penses=
Salaries .900
3aintenance %:pense 2.0
;nterest %:pense 79
Depreciation %:pense 1900
/ce Supplies %:pense 920
Rent %:pense 2000 10"9
*et !ro?t "1"9
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Balan%e &heet
Assets
Current Assets=
Bank "000Account Recei$ale 10"0
!repaid Rent 000
Cash -10
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@iabilities Capital
Current @iabilities=
Account !a+able 1205nearned 6ee 910
;nterest !a+able 79
Salaries !a+able "00