Quisote Consulting

Journal
For June 2003

Post
Date Description
ref.
Jun-03 1 Cash 11
Accounts Receivable 12
Supplies 14
Office Equipment 18
Capital 31
(Beginning Capital)

1 Prepaid Rent 15
Cash 11

2 Prepaid Insurance 16
Cash 11

4 Cash 11
Unearned Fees 23

5 Office Equipment 18
Account Payable 21

6 Cash 11
Accounts Receivable 12

10 Miscellaneous Expense 59
Cash 11

12 Accounts Payable 21
Cash 11

12 Account Receivable 12
Fees Earned 41

14 Salary Expense 51
Cash 11

17 Cash 11
Fees Earned 41

18 Suplies 14
Cash 11

20 Accouns Receivable 12
Fees Earned 41

24 Cash 11
Fees Earned 41

26 Cash 11
Account Receivable 12

27 Salary Expense 51
Cash 11
29 Miscellaneous Expense 59
Cash 11

30 Miscellaneous Expense 59
Cash 11

30 Cash 11
Fees Earned 41

30 Accounts Reeivable 12
Fees Earned 41

30 Dustin Larkin, Drawing 31

Cash 11
TOTAL
ng

(In dollar Currency)

Debit Credit
$ 10,000
$ 1,500
$ 1,250
$ 7,500
$ 20,250

$ 4,500
$ 4,500

$ 1,800
$ 1,800

$ 3,000
$ 3,000

$ 1,800
$ 1,800

$ 800
$ 800

$ 120
$ 120

$ 800
$ 800

$ 2,250
$ 2,250

$ 400
$ 400

$ 3,175
$ 3,175

$ 750
$ 750

$ 1,100
$ 1,100

$ 1,850
$ 1,850

$ 1,600
$ 1,600

$ 400
$ 400
$ 130
$ 130

$ 200
$ 200

$ 2,050
$ 2,050

$ 1,000
$ 1,000

$ 4,500
$ 4,500
$ 52,475 $ 52,475
 LEDGER

ACCOUNT CASH
Post Balance
Date Item Debit Credit
Ref Debit
June 2003 1 Balance $ 10,000
1 J1 $ 4,500 $ 5,500
2 J1 $ 1,800 $ 3,700
4 J1 $ 3,000 $ 6,700
6 J1 $ 800 $ 7,500
10 J1 $ 120 $ 7,380
12 J1 $ 800 $ 6,580
14 J1 $ 400 $ 6,180
17 J1 $ 3,175 $ 9,355
18 J1 $ 750 $ 8,605
24 J1 $ 1,850 $ 10,455
26 J1 $ 1,600 $ 12,055
27 J1 $ 400 $ 11,655
29 J1 $ 130 $ 11,525
30 J1 $ 200 $ 11,325
30 J1 $ 2,050 $ 13,375
30 J1 $ 4,500 $ 8,875
J1

ACCOUNT ACCOUNT RECEIVABLE

Post Balance
Date Item Debit Credit
Ref Debit
June 2003 1 Balance $ 1,500
6 J1 $ 800 $ 700
12 J1 $ 2,250 $ 2,950
20 J1 $ 1,100 $ 4,050
26 J1 $ 1,600 $ 2,450
30 J1 $ 1,000 $ 3,450

ACCOUNT SUPPLIES
Post Balance
Date Item Debit Credit
Ref Debit
June 2003 1 Balance $ 1,250
17 J1 $ 750 $ 2,000
30 Adj. Entry $ 980 $ 1,020

ACCOUNT PREPAID RENT

Post Balance
Date Item Debit Credit
Ref Debit
June 2003 1 J1 $ 4,500 $ 4,500
30 Adj. Entry $ 1,500 $ 3,000
ACCOUNT PREPAID INSURANCE
Post Balance
Date Item Debit Credit
Ref Debit
June 2003 2 J1 $ 1,800 $ 1,800
30 Adj Entry $ 150 $ 1,650

ACCOUNT OFFICE EQUIPMENT

Post Balance
Date Item Debit Credit
Ref Debit
June 2003 1 Balance $ 7,500
5 J1 $ 1,800 $ 9,300

ACCOUNT ACCUMULATED DEPRECIATION

Post Balance
Date Item Debit Credit
Ref Debit
June 2003 30 Adj. Entry $ 500

ACCOUNT ACCOUNT PAYABLE

Post Balance
Date Item Debit Credit
Ref Debit
June 2003 5 J1
12 JQ $ 800

ACCOUNT SALARIES PAYABLE

Post Balance
Date Item Debit Credit
Ref Debit
June 2003 30 Adj. Entry $ 120

ACCOUNT UNEARNED FEES

Post Balance
Date Item Debit Credit
Ref Debit
June 2003 4 J1 $ 3,000
30 Adj. Entry $ 1,000

ACCOUNT DUSTIN LARKIN, CAPITAL

Post Balance
Date Item Debit Credit
Ref
 Post
Date Item Debit Credit
Ref Debit
June 2003

ACCOUNT DUSTIN LARKIN, DRAWING

Post Balance
Date Item Debit Credit
Ref Debit
June 2003 30 J1 $ 4,500 $ 4,500

ACCOUNT FEES EARNED

Post Balance
Date Item Debit Credit
Ref Debit
June 2003 12 J1 $ 2,250
17 J1 $ 3,175
20 J1 $ 1,100
24 J1 $ 1,850
30 J1 $ 2,050
30 J1 $ 1,000
30 Adj. Entry $ 1,000

ACCOUNT SALARIES EXPENSE

Post Balance
Date Item Debit Credit
Ref Debit
June 2003 14 $ 400 $ 400
27 $ 400 $ 800
30 Adj Entry $ 120 $ 920

ACCOUNT RENT EXPENSE

Post Balance
Date Item Debit Credit
Ref Debit
June 2003 30 Adj. Entry $ 1,500 $ 1,500

ACCOUNT SUPPLIES EXPENSE

Post Balance
Date Item Debit Credit
Ref Debit
June 2003 30 Adj Entry $ 980 $ 980

ACCOUNT DEPRECIATION EXPENSE

Post Balance
Date Item Debit Credit
Ref
 Post
Date Item Debit Credit
Ref Debit
June 2003 30 Adj. Entry $ 500 $ 500

ACCOUNT INSURANCE EXPENSE

Post Balance
Date Item Debit Credit
Ref Debit
June 2003 30 Adj. Entry $ 150 $ 150

ACCOUNT MISCELLANEOUS EXPENSE

Post Balance
Date Item Debit Credit
Ref Debit
June 2003 10 $ 120 $ 120
29 $ 130 $ 250
30 $ 200 $ 450
Balance
Credit

Balance
Credit

Balance
Credit

Balance
Credit
Balance
Credit

Balance
Credit

Balance
Credit
$ 500

Balance
Credit
$ 1,800
$ 1,000

Balance
Credit
$ 120

Balance
Credit
$ 3,000
$ 2,000

Balance
 Credit

Balance
Credit

Balance
Credit
$ 2,250
$ 5,425
$ 6,525
$ 8,375
$ 10,425
$ 11,425
$ 12,425

Balance
Credit

Balance
Credit

Balance
Credit

Balance
 Credit

Balance
Credit

Balance
Credit
 Quisote Consulting
Trial Balance
For June 30, 2003

Account Debit Credit

Cash $8,875
Accounts Receivable 3450
Supplies 2000
Prepaid rent 4500
Prepaid insurance 1800
Office Equipment 9300
Accumulated Depreciation
Accounts Payable $1,000
Salaries Payable
Unearned Fees 3000
Dustin Larkin, Capital 20250
Dustin Larkin, Drawing 4500
Fees earned 11425
Salary Expense 800
Rent Expense
Supplies Expense
Depreciation expense
Insurance Expense
Miscellaneous expense 450
TOTAL $35,675 $35,675
 Quisote Consulting
Adjustment Entry
For The Month Ended June 30, 2003

(In dollar Currency)

Date Description Post ref Debit Credit

30-Jun Insurance Expense $150

Prepaid Insurance $150

30-Jun Supplies Expense 980

Supplies 980

30-Jun Depreciation Expense 500

Accumulated Depreciation 500

30-Jun Salary Expense 120

Salary Payable 120

30-Jun Rent Expense 1500

Prepaid Rent 1500

30-Jun Unearned Fees 1000

Fees Earned 1000

TOTAL $4,250 $4,250

 QUIXOTE COMPANY
INCOME STATEMENT
FOR THE MONTH ENDED, JUNE 31 2003

Fees Earned 12425

Operating Expense
Salaries Expense 920
Rent Expense 1500
Supplies Expense 980
Depreciation Expense 500
Insurance Expense 150
Miscellaneous Expense 450
Total Operating Expense 4500
Net Income 7925
 Quisote Consulting
Statement of Owner's Equity
For The Month Ended June 30, 2003

(In Dollar Currency)

Dustin Larkin, Capital, 1 June 2003 $20,250

Net Income $7,925

Less Drawing -4500

Increase in owner's equity 3425

Dustin Larkin, Capital, 30 June 2003 23675

 Quisote Consulting
Closing Entry
For The Month Ended June 30, 2003

(In Dollar Currency)

Date Description Post ref Debit Credit

30-Jun Fees Earned $12,425

Income Summary $12,425

30-Jun Income Summary 4500

Salary Expense 920
Rent Expense 1500
Supplies expense 980
Depreciation Expense 500
Insurance expense 150
Miscellaneous Expense 450

30-Jun Income Summary 7925

Dustin Larkin, Capital 7925

30-Jun Dustin Larkin, capital 4500

Dustin Larkin, Drawing 4500
TOTAL $29,350 $29,350