CHAPTER
General Accounting and
End–of–Period Procedures:
Service Business
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Your Name’s
Tech Services
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Account Type Balance Total
Checking Bank 47,529.00
Petty Cash Bank 82.21
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ccounts Receivable
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ccounts Receivable 17,650.00
Office Supplies Other Current Asset 950.00
Loan Payable:Business Vehicles Loan Long Term Liability 35,000.00
Loan Payable:Office Furniture/Equipment Loan Long Term Liability 4,000.00
Owner’s Equity Equity
Your Name, Capital Equity 78,135.00
Your Name, Capital:Draws Equity 0.00
Your Name, Capital:Investments Equity 25,000.00
Income Income
Income:Cloud Services Income Income
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Depreciation Expense Expense
Dues and Subscriptions Expense
Equipment Rental Expense
Insurance Expense
Insurance:Business Vehicles Insurance Expense
Insurance:Disability Insurance Expense
Insurance:Liability Insurance Expense
Insurance:Work Comp Expense
Interest Expense Expense
Interest Expense:Finance Charge Expense
Interest Expense:Loan Interest Expense
Licenses and Permits Expense
Miscellaneous Expense
Office Supplies Expense Expense
Outside Services Expense
Payroll Expenses Expense
Copyright © 2019 Pearson Education, Inc. All Rights Reserved
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our Name’s Tech Services
Account Listing
January 31, 2018
Page 1 of 29
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Account Type Balance Total
Travel & Ent:Travel Expense
Uncategorized Expenses Expense
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our Name’s Tech Services
Account Listing
January 31, 2018
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1/31/2018
Monthly Withdrawal
Your Name’s Tech Services
2895 West Avenue
Woodland Hills, CA 91367
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Page 3 of 29
Type Date Num Name Cl
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Amount Balance
Beginning Balance 12,870.00
Cleared Transactions
Checks and Payments – 7 items
Bill Pmt -Check 01/26/2018 3 Supply Spot X -840.00 -840.00
Deposits and Credits – 4 items
Transfe
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12/31/2017 X 25,000.00 25,000.00
Deposit 01/15/2018 X 13,840.00 38,840.00
Check 01/30/2018 California Telephone Co. X 0.00 38,840.00
Uncleared Transactions
Checks and Payments – 6 items
Check 01/30/2018 4 Pacific Realtors -1,600.00 -1,600.00
Check 01/30/2018 8 Supply Spot -486.00 -2,086.00
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our Name’s Tech Services
Reconciliation Detail
Checking, Period Ending 01/31/2018
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Page 4 of 29
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Jan 31, 18
Debit Credit
Checking 49,272.46
Petty Cash 92.21
Accounts Receivable 17,650.00
Loan Payable 0.00
Loan Payable:Business Vehicles Loan 34,532.81
Loan Payable:Office Furniture/Equipment Loan 3,970.83
Owner’s Equity 0.00
Your Name, Capital 53,135.00
Dues and Subscriptions 79.00
Equipment Rental 25.00
Insurance:Business Vehicles Insurance 237.50
Interest Expense:Loan Interest 308.61
Office Supplies Expense 368.57
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our Name’s Tech Services
Trial Balance
As of January 31, 2018
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Page 5 of 29
Accnts Receivable Accnts Payable Bank Accnts Net Inflows Proj Balance
Beginning Balance 9,570.00 0.00 49,364.67 58,934.67
Feb 1 – 3, 18 300.00 0.00 0.00 300.00 59,234.67
Week of Feb 4, 18 7,780.00 0.00 0.00 7,780.00 67,014.67
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our Name’s Tech Services
Cash Flow Forecast
February 2018
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Page 6 of 29
Jan 18
OPERATING ACTIVITIES
Net Income 4,135.53
Adjustments to reconcile Net Income
to net cash provided by operations:
Accounts Receivable 4,915.00
INVESTING ACTIVITIES
Business Vehicles:Depreciation 583.00
Office Furniture & Equipment:Depreciation 142.00
Office Furniture & Equipment:Original Cost -3,486.00
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our Name’s Tech Services
Statement of Cash Flows
January 2018
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Page 7 of 29
Trans # Type Date Num Adj Name Memo Account Debit Credit
27 Invoice 01/02/2018 1 Garcia, Juan Esq.
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ccounts Receivable 300.00
Garcia, Juan Esq. 10 Hours–Monthly Technical Support Technical Support Income 300.00
300.00 300.00
32 Invoice 01/05/2018 6 Clark, Hill, and Scott
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ccounts Receivable 3,365.00
Clark, Hill, and Scott Initial Hour of On-Site Training Training Income 95.00
Clark, Hill, and Scott
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dditional Hours of On-Site Training Training Income 3,120.00
Clark, Hill, and Scott 5 Hours–Monthly Technical Support Technical Support Income 150.00
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175.00 175.00
35 Sales Receipt 01/09/2018 1 Morris, Ray CPA Undeposited Funds 415.00
Morris, Ray CPA Initial Hour of On-Site Training Training Income 95.00
Morris, Ray CPA
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dditional Hours of On-Site Training Training Income 320.00
415.00 415.00
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Your Name’s Tech Services
Journal
January 2018
Page 8 of 29
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Trans # Type Date Num Adj Name Memo Account Debit Credit
38 Payment 01/15/2018 846 Research Corp. Undeposited Funds 815.00
Research Corp.
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ccounts Receivable 815.00
815.00 815.00
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150.00 150.00
44 Payment 01/15/2018 80195 Brooks, Stark, and Thompson Undeposited Funds 3,685.00
Brooks, Stark, and Thompson
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ccounts Receivable 3,685.00
Johnson, Leavitt, and Moraga Deposit Undeposited Funds 3,680.00
Taylor Illustrations Partial Payment Undeposited Funds 2,000.00
McBride, Matt CPA Deposit Undeposited Funds 475.00
Wagner Productions Partial Payment Undeposited Funds 2,190.00
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Copyright © 2019 Pearson Education, Inc. All Rights Reserved
Your Name’s Tech Services
Journal
January 2018
Page 9 of 29
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Trans # Type Date Num Adj Name Memo Account Debit Credit
49 Bill 01/19/2018 1050A Supply Spot Supplies to have on hand
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ccounts Payable 450.00
Supply Spot Supplies to have on hand Office Supplies 450.00
52 Bill 01/19/2018 4688 Rapid Delivery Service January Delivery Expense
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ccounts Payable 195.00
Rapid Delivery Service January Delivery Expense Postage and Delivery 195.00
195.00 195.00
53 Bill 01/19/2018 1553 Computer Technologies Magazine Six-Month Subscription
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ccounts Payable 79.00
Computer Technologies Magazine Six-Month Subscription Dues and Subscriptions 79.00
79.00 79.00
54 Credit 01/26/2018 789 Supply Spot Returned Damaged 3D Printer Supplies
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ccounts Payable 5.00
Supply Spot Returned Damaged 3D Printer Supplies Office Supplies Expense 5.00
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59 Check 01/30/2018 California Telephone Co. VOID: 678-89-5812 Checking 0.00
California Telephone Co. VOID: 678-89-5812 Telephone 0.00
0.00 0.00
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Your Name’s Tech Services
Journal
January 2018
Page 10 of 29
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Trans # Type Date Num Adj Name Memo Account Debit Credit
61 Check 01/30/2018 6 CA Water 6598-71212251 Checking 35.00
CA Water 6598-71212251 Water 35.00
65 Check 01/30/2018 1 Petty Cash 17.79
Postage and Delivery 0.34
Office Supplies Expense 3.57
Business Vehicles Expense 13.88
17.79 17.79
66 Check 01/30/2018 8 Supply Spot Purchase Fax Machine Checking 486.00
Supply Spot Purchase Fax Machine Original Cost 486.00
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*
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djusting Entry, Depreciation Depreciation Expense 725.00
725.00 725.00
70 Check 01/31/2018 9 Your Name Monthly Withdrawal Checking 2,500.00
Your Name Monthly Withdrawal Draws 2,500.00
2,500.00 2,500.00
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Your Name’s Tech Services
Journal
January 2018
Page 11 of 29
Trans # Type Date Num Adj Name Memo Account Debit Credit
73 Check 01/31/2018 Transfe
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Valley Bank Loan Pmt. Business Vehicles Checking 722.41
Valley Bank Business Vehicles Loan, Interest Loan Interest 255.22
Valley Bank Business Vehicles Loan, Principal Business Vehicles Loan 467.19
722.41 722.41
Your Name’s Tech Services
Journal
January 2018
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Page 12 of 29
r
Jan 31, 18
Debit Credit
Checking 49,272.46
Petty Cash 92.21
Advertising Expense 260.00
Bank Service Charges 8.00
Business Vehicles Expense 588.88
Depreciation Expense 725.00
Dues and Subscriptions 79.00
Equipment Rental 25.00
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our Name’s Tech Services
Trial Balance
As of January 31, 2018
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Page 13 of 29
Jan 18
Ordinary Income/Expense
Income
Income
Cloud Services Income 150.00
Installation Income 175.00
Technical Support Income 750.00
Interest Expense
Loan Interest 308.61
Total Interest Expense 308.61
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our Name’s Tech Services
Profit & Loss
January 2018
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Page 14 of 29