MINI PRACTICE SET
SHERMAN REALTY
SHERMAN REALTY
GENERAL JOURNAL
PAGE 3
Date
201X
Account Titles and Description
PR
Dr.
Cr.
Adjusting Entries
Apr.
30
Rent Expense
511
0
00
Prepaid Rent ($3,600/4 mos.)
114
9
0
0
00
30
Office Supplies Expense
517
1
0
00
115
1
2
0
0
00
Equip.
30
Depreciation Expense, Auto
519
0
00
Accumulated Depreciation, Auto
124
3
0
0
00
Closing Entries
30
Commissions Earned
411
22
0
00
Income Summary
313
22
0
0
0
00
30
Income Summary
313
5
3
00
512
1
1
0
0
00
Gas Expense
513
1
1
5
00
514
4
5
0
00
516
7
0
0
00
511
9
0
0
00
Office Supplies Expense
517
1
2
0
0
00
Equipment
518
1
7
0
00
Depreciation Expense, Auto
519
3
0
0
00
30
Income Summary
313
16
6
00
Jacob Sherman, Capital
311
16
8
6
5
00
30
Jacob Sherman, Capital
311
3
0
00
Jacob Sherman, Withdrawals
312
3
0
0
0
00
MINI PRACTICE SET
SHERMAN REALTY
SHERMAN REALTY
GENERAL JOURNAL
PAGE 4
Date
201X
Account Titles and Description
PR
Dr.
Cr.
May
1
Office Supplies
115
9
0
0
00
Accounts Payable
211
9
0
0
00
Supplies Purchased on Account
2
Accounts Payable
211
7
0
0
00
Cash
111
7
0
0
00
Paid Advertising Bill
3
Cash
111
5
9
0
0
00
Commissions Earned
411
5
9
0
0
00
Cash Fees
6
Gas Expense
513
4
2
00
Cash
111
4
2
00
Paid Gas Bill
Cash
111
7
5
112
7
5
0
0
00
12
Miscellaneous Expense
524
4
5
0
00
Cash
111
4
5
0
00
Paid for Realtors’ Workshop
15
Salaries Expense
512
5
5
0
00
Cash
111
5
5
0
00
Paid Salaries
17
Accounts Receivable
112
3
7
411
3
7
0
0
00
18
Cash
111
5
0
0
0
00
411
5
0
0
0
00
Cash Fees
MINI PRACTICE SET
SHERMAN REALTY
SHERMAN REALTY
GENERAL JOURNAL
PAGE 5
Date
201X
Account Titles and Description
PR
Dr.
Cr.
May
22
Miscellaneous Expense
524
5
0
00
24
Repairs Expense
514
6
9
0
00
28
Jacob Sherman, Withdrawals
312
1
6
0
0
00
1
Owner Withdrawal
30
Salaries Expense
512
5
5
0
00
Paid Salaries
30
Telephone Expense
515
5
3
0
00
Cash
111
5
3
0
00
Paid Telephone Bill
Advertising Expense
1
Accounts Payable
211
1
7
0
0
00
Advertising Bill Received
MINI PRACTICE SET
SHERMAN REALTY SHERMAN REALTY
GENERAL JOURNAL
PAGE 6
Date
201X
Account Titles and Description
PR
Dr.
Cr.
Adjusting Entries
May
31
Rent Expense
511
9
0
0
00
Prepaid Rent
114
9
0
0
00
31
Office Supplies Expense
517
9
5
0
00
Office Supplies
115
9
5
0
00
31
Depreciation Expense, Office Equip.
518
1
7
0
00
Equip.
31
Depreciation Expense, Auto
519
3
0
0
00
Accumulated Depreciation, Auto
124
3
0
0
00
31
411
14
6
Income Summary
313
14
6
0
0
00
31
Income Summary
313
6
8
8
2
00
Salaries Expense
512
1
1
0
0
00
Gas Expense
513
4
2
00
Repairs Expense
514
6
9
0
00
Telephone Expense
515
5
3
0
00
Advertising Expense
516
1
7
0
0
00
Rent Expense
511
9
0
0
00
Office Supplies Expense
517
9
5
0
00
Equipment
Depreciation Expense, Auto
519
3
0
0
00
Miscellaneous Expense
524
5
0
0
00
31
Income Summary
313
7
7
1
8
00
Jacob Sherman, Capital
311
7
7
1
8
00
31
Jacob Sherman, Capital
311
1
6
0
0
00
Jacob Sherman, Withdrawals
312
1
6
0
0
00
MINI PRACTICE SET
SHERMAN REALTY
CASH
ACCOUNT NO. 111
Date
201X
Explanation
Post
Ref.
Debit
Credit
Balance
Debit
Credit
Apr.
1
GJ1
14
0
0
0
00
14
0
0
0
00
1
GJ1
3
6
0
0
00
10
4
0
0
00
4
GJ1
9
0
0
00
9
5
0
0
00
6
GJ1
6
5
0
0
00
16
0
0
0
00
8
GJ1
2
5
00
15
9
7
5
00
15
GJ1
5
5
0
00
15
4
2
5
00
20
GJ2
3
0
0
0
00
12
4
2
5
00
21
GJ2
8
0
0
0
00
20
4
2
5
00
22
GJ2
9
0
00
20
3
3
5
00
24
GJ2
4
5
0
00
19
8
8
5
00
30
GJ2
5
5
0
00
19
3
3
5
00
30
GJ2
2
0
0
00
19
1
3
5
00
May
2
GJ4
7
0
0
00
18
4
3
5
00
3
GJ4
5
9
0
0
00
24
3
3
5
00
6
GJ4
4
2
00
24
2
9
3
00
8
GJ4
7
5
0
0
00
31
7
9
3
00
12
GJ4
4
5
0
00
31
3
4
3
00
15
GJ4
5
5
0
00
30
7
9
3
00
18
GJ4
5
0
0
0
00
35
7
9
3
00
22
GJ5
5
0
00
35
7
4
3
00
24
GJ5
6
9
0
00
35
0
5
3
00
28
GJ5
1
6
0
0
00
33
4
5
3
00
30
GJ5
5
5
0
00
32
9
0
3
00
30
GJ5
5
3
0
00
32
3
7
3
00
MINI PRACTICE SET
SHERMAN REALTY
ACCOUNTS RECEIVABLE
ACCOUNT NO. 112
Date
201X
Explanation
Post
Ref.
Debit
Credit
Balance
Debit
Credit
Apr.
17
GJ2
7
5
0
0
00
7
5
0
0
00
May
8
GJ4
7
5
0
0
0
00
17
GJ4
3
7
0
0
00
3
7
0
0
00
PREPAID RENT
ACCOUNT NO. 114
Date
201X
Explanation
Post
Ref.
Debit
Credit
Balance
Debit
Credit
Apr.
1
GJ1
3
6
0
0
00
3
6
0
0
00
30
Adjusting
GJ3
9
0
0
00
2
7
0
0
00
May.
31
Adjusting
GJ6
9
0
0
00
1
8
0
0
00
OFFICE SUPPLIES
ACCOUNT NO. 115
Date
201X
Explanation
Post
Ref.
Debit
Credit
Balance
Debit
Credit
Apr.
4
GJ1
9
0
0
00
9
0
0
00
5
GJ1
4
5
0
00
1
3
5
0
00
30
Adjusting
GJ3
1
2
0
0
1
5
0
00
May.
1
GJ4
9
0
0
00
1
0
5
0
00
31
Adjusting
GJ6
9
5
0
1
0
0
00
OFFICE EQUIPMENT
ACCOUNT NO. 121
Date
201X
Explanation
Post
Ref.
Debit
Credit
Balance
Debit
Credit
MINI PRACTICE SET
SHERMAN REALTY
ACCUMULATED DEPRECIATION, OFFICE EQUIPMENT ACCOUNT NO. 122
Date
201X
Explanation
Post
Ref.
Debit
Credit
Balance
Debit
Credit
Apr.
30
Adjusting
GJ3
1
7
0
00
1
7
0
00
May
31
Adjusting
GJ6
1
7
0
00
3
4
0
00
AUTOMOBILE
ACCOUNT NO. 123
Date
201X
Explanation
Pos
t
Ref.
Debit
Credit
Balance
Debit
Credit
Apr.
1
GJ1
14
0
0
0
00
14
0
0
0
00
ACCUMULATED DEPRECIATION, AUTOMOBILE ACCOUNT NO. 124
Date
201X
Explanation
Post
Ref.
Debit
Credit
Balance
Debit
Credit
Apr.
30
Adjusting
GJ3
3
0
0
00
3
0
0
00
May
31
Adjusting
GJ6
3
0
0
00
6
0
0
00
ACCOUNTS PAYABLE
ACCOUNT NO. 211
Date
201X
Explanation
Post
Ref.
Debit
Credit
Balance
Debit
Credit
Apr.
1
GJ1
14
0
0
0
00
14
0
0
0
00
5
GJ1
4
5
0
00
14
4
5
0
00
30
GJ2
7
0
0
00
1
5
0
00
May
1
GJ4
9
0
0
00
0
5
0
00
2
GJ4
7
0
0
00
3
5
0
00
30
GJ5
1
7
0
0
00
0
5
0
00
SALARIES PAYABLE
ACCOUNT NO. 212
Date
201X
Explanation
Post
Ref.
Debit
Credit
Balance
Debit
Credit
MINI PRACTICE SET
SHERMAN REALTY
JACOB SHERMAN, CAPITAL
ACCOUNT NO. 311
Date
201X
Explanation
Post
Ref.
Debit
Credit
Balance
Debit
Credit
Apr.
1
GJ1
23
0
0
0
23
0
0
0
00
30
Closing
GJ3
16
8
6
5
39
8
6
5
00
30
Closing
GJ3
3
0
0
0
00
36
8
6
5
00
May
31
Closing
GJ6
7
7
1
8
44
5
8
3
00
31
Closing
GJ6
1
6
0
0
00
42
9
8
3
00
JACOB SHERMAN, WITHDRAWALS
ACCOUNT NO. 312
Date
201X
Explanation
Post
Ref.
Debit
Credit
Balance
Debit
Credit
Apr.
20
GJ2
3
0
0
0
00
3
0
0
0
00
May
28
GJ5
1
6
0
0
00
1
6
0
0
00
INCOME SUMMARY
ACCOUNT NO. 313
Date
201X
Explanation
Pos
t
Ref.
Debit
Credit
Balance
Debit
Credit
Apr.
30
Closing
GJ3
22
0
0
0
00
22
0
0
0
00
30
Expenses
May
31
Closing
GJ6
14
6
0
0
00
14
6
0
0
00
31
Closing
GJ6
6
8
8
2
00
7
7
1
8
00
Closing
GJ3
5
1
3
5
00
16
8
6
5
00
MINI PRAC TICE SET
SHERMAN REALTY
COMMISSIONS EARNED
ACCOUNT NO. 411
Date
201X
Explanation
Post
Ref.
Debit
Credit
Balance
Debit
Credit
Apr.
6
GJ1
6
5
0
0
00
6
5
0
0
00
17
GJ2
7
5
0
0
00
0
0
0
00
21
GJ2
8
0
0
0
00
0
0
0
00
30
Closing
GJ3
22
0
0
0
0
May
3
GJ4
5
9
0
0
00
5
9
0
0
00
17
GJ4
3
7
0
0
00
9
6
0
0
00
18
GJ4
5
0
0
0
00
6
0
0
00
31
Closing
GJ6
14
6
0
0
0
RENT EXPENSE
ACCOUNT NO. 511
Date
201X
Explanation
Post
Ref.
Debit
Credit
Balance
Debit
Credit
Apr.
30
Adjusting
GJ3
9
0
0
00
9
0
0
00
May
31
Adjusting
GJ6
9
0
0
00
9
0
0
00
31
Closing
GJ6
9
0
0
SALARIES EXPENSE
ACCOUNT NO. 512
Date
201X
Explanation
Post
Ref.
Debit
Credit
Balance
Debit
Credit
Apr.
15
GJ1
5
5
0
00
5
5
0
00
May
15
GJ4
5
5
0
00
5
5
0
00
30
GJ5
5
5
0
00
1
0
0
00
MINI PRACTICE SET
SHERMAN REALTY
GAS EXPENSE
ACCOUNT NO. 513
Date
201X
Explanation
Post
Ref.
Debit
Credit
Balance
Debit
Credit
Apr.
8
GJ1
2
5
00
2
5
00
22
GJ2
9
0
00
1
1
5
00
May
6
GJ4
4
2
00
4
2
00
REPAIRS EXPENSE
ACCOUNT NO. 514
Date
201X
Explanation
Post
Ref.
Debit
Credit
Balance
Debit
Credit
Apr.
24
GJ2
4
5
0
00
4
5
0
00
May
24
GJ5
6
9
0
00
6
9
0
00
TELEPHONE EXPENSE
ACCOUNT NO. 515
Date
201X
Explanation
Post
Ref.
Debit
Credit
Balance
Debit
Credit
Apr.
30
GJ2
2
0
0
00
2
0
0
00
May
30
GJ5
5
3
0
00
5
3
0
00
ADVERTISING EXPENSE
ACCOUNT NO. 516
Date
201X
Explanation
Post
Ref.
Debit
Credit
Balance
Debit
Credit
Apr.
30
GJ2
7
0
0
00
7
0
0
00
May
30
GJ5
1
7
0
0
00
1
7
0
0
00
MINI PRACTICE SET
SHERMAN REALTY
OFFICE SUPPLIES EXPENSE
ACCOUNT NO. 517
Date
201X
Explanation
Post
Ref.
Debit
Credit
Balance
Debit
Credit
Apr.
30
Adjusting
GJ3
1
2
0
0
00
1
2
0
0
00
May
31
Adjusting
GJ6
9
5
0
00
9
5
0
00
DEPRECIATION EXPENSE, OFFICE EQUIPMENT
ACCOUNT NO. 518
Date
201X
Explanation
Post
Ref.
Debit
Credit
Balance
Debit
Credit
Apr.
30
Adjusting
GJ3
1
7
0
00
1
7
0
00
May
31
Adjusting
GJ6
1
7
0
00
1
7
0
00
DEPRECIATION EXPENSE, AUTOMOBILE
ACCOUNT NO. 519
Date
201X
Explanation
Post
Ref.
Debit
Credit
Balance
Debit
Credit
Apr.
30
Adjusting
GJ3
3
0
0
00
3
0
0
00
May
31
Adjusting
GJ6
3
0
0
00
3
0
0
00
MISCELLANEOUS EXPENSE
ACCOUNT NO. 524
Date
201X
Explanation
Post
Ref.
Debit
Credit
Balance
Debit
Credit
May.
12
GJ4
4
5
0
00
4
5
0
00
22
GJ5
5
0
00
5
0
0
00
SHERMAN REALTY(2)
Balance Sheet
Credit
Debit
Inc. Statement
Credit
Debit
900
Adj. Trial Balance
Credit
Sherman Realty
Worksheet
For the Month Ended April 30, 201X
Debit
900
Adjustments
Credit
Debit
(a) 900
Trial Balance
Credit
Debit
Account Titles
Rent Expense
(3)
SHERMAN REALTY
INCOME STATEMENT
FOR MONTH ENDED APRIL 30, 201X
Revenue:
Commissions Earned
$22
0
0
0
00
Operating Expenses:
Salaries Expense
1
0
0
00
Repairs Expense
4
5
0
00
Telephone Expense
2
0
0
00
Advertising Expense
7
0
0
00
Rent Expense
9
0
0
00
Office Supplies Expense
2
0
0
00
Depreciation Expense, Office Equipment
1
7
0
00
Depreciation Expense, Automobile
3
0
0
00
1
3
5
00
SHERMAN REALTY
STATEMENT OF OWNER’S EQUITY
FOR MONTH ENDED APRIL 30, 201X
Jacob Sherman, Capital, April 1, 201X
$
0
00
Investment in April
0
0
0
00
Total Investment in April
0
0
0
00
Net Income for April
$16
8
6
5
00
Less: Withdrawals for April
0
0
0
Increase in Capital
8
6
5
00
SHERMAN REALTY
SHERMAN REALTY
5
6
Total Liabilities and
5
7
1
8
7
2
8
Accounts Receivable
Prepaid Rent
Office Supplies
Less: Acc. Dep.
Automobile
Less: Acc. Dep.
Total Assets
SHERMAN REALTY
(5)
SHERMAN REALTY
POST-CLOSING TRIAL BALANCE
APRIL 30, 201X
Dr.
Cr.
Cash
19
1
3
5
00
Accounts Receivable
7
5
0
0
00
Office Supplies
1
5
0
00
Acc. Dep., Office Equip.
1
7
0
00
Automobile
14
0
0
0
00
Acc. Dep., Automobile
3
0
0
00
Accounts Payable
1
5
0
00
52
4
8
5
00
4
8
5
00
SHERMAN REALTY(2)
Balance Sheet
Credit
Debit
Inc. Statement
Credit
SHERMAN REALTY
WORKSHEET
FOR THE MONTH ENDED MAY 31, 201X
Debit
900
950
Adj. Trial Balance
Credit
Debit
900
950
Adjustments
Credit
Debit
(a) 900
(b) 950
Trial Balance
Credit
Debit
Account Titles
Rent Expense
Office Supplies Exp.
Accts. Receivable
Gas Expense
Advertising Expense
MINI PRACTICE SET
SHERMAN REALTY
(3)
SHERMAN REALTY
INCOME STATEMENT
FOR MONTH ENDED MAY 31, 201X
Revenue:
Commissions Earned
$14
6
0
0
00
Operating Expenses:
Salaries Expense
$1
1
0
0
00
Gas Expense
4
2
00
Repairs Expense
6
9
0
00
Telephone Expense
5
3
0
00
Advertising Expense
7
0
0
00
Miscellaneous Expense
5
0
0
00
Rent Expense
9
0
0
00
Office Supplies Expense
9
5
0
00
Depreciation Expense, Office Equipment
1
7
0
00
Depreciation Expense, Automobile
3
0
0
00
SHERMAN REALTY
STATEMENT OF OWNER’S EQUITY
FOR MONTH ENDED MAY 31, 201X
$ 7
7
8
00
6
0
00)
5-77
SHERMAN REALTY
(5)
SHERMAN REALTY
POST-CLOSING TRIAL BALANCE
MAY 31, 201X
Dr.
Cr.
Cash
32
3
7
3
00
Accounts Receivable
3
7
0
0
00
Office Supplies
1
0
0
00
Acc. Dep., Office Equip.
3
4
0
00
Automobile
1 4
0
0
0
00
Acc. Dep., Automobile
6
0
0
00
Accounts Payable
0
5
0
00
9
7
3
00
60
9
7
3
00