NANCY MULLES DATA ENCODER

CHART OF ACCOUNTS

ACCOUNT TYPE
Cash Asset
Accounts Receivable Asset
Supplies Asset
Office Equipment Asset
Computer Software Asset
Signage Asset
Accounts Payable Liability
Mulles Capital Owner’s Equity
Mulles Withdrawals Owner’s Equity
Service Revenues Owner’s Equity
Salaries Expense Expense
Advertising Expense Expense
Rent Expense Expense
Utilities Expense Expense
Misc. Expense Expense
 NANCY MULLES DATA ENCODER
JOURNAL ENTRIES
DATE ACCOUNT TITLE / EXPLANATION PR DEBIT CREDIT
Cash 157,000.00
June 1, Mulles Capital 157,000.00
2013 To record investment to establish business
A
Office Equipment 15,150.00
B Cash 15,150.00
To record payment for office equipment
Equipment 57,500.00
C Mulles Capital 57,500.00
To record investment of Mulles
Computer Software 39,000.00
D Cash 5,000.00
Accounts payable 24,000.00
To record partial payment on computer software
Rent expense 5,300.00
E Cash 5,300.00
To record payment for rent
Cash 5,160.00
F Service Revenue 5,160.00
To record service revenue on account
Sinage 9,000.00
G Cash 5,000.00
Accounts Payable 4,000.00
To record partial payment for panaflex sign

H No Entry

Supplies 2,290.00
I Accounts Payable 2,290.00
To record payment for purchased supplies

Advertising Expense 3,230.00

J Cash 3,230.00
To record payment for advertising

Utilities 1,240.00
K Cash 1,240.00
To record payment for electric bill

Cash 10,900.00
L Service Revenue 10,900.00
To record service revenue on account
M Salaries Expense 8,400.00
Cash 8,400.00
To record payment for salaries
N Drawing 4,500.00
Cash 4,500.00
To record Mulles withdrawal
 NANCY MULLES DATA ENCODER
TRIAL BALANCE

ACCOUNT PR DEBIT CREDIT

Cash 115,240.00
Accounts Receivable ----- 0 -----
Supplies 2,290.00
Office Equipment 72,650.00
Computer Software 39,000.00
Signage 9,000.00
Accounts Payable 30,290.00
Mulles Capital 214,500.00
Mulles Withdrawals 4,500.00
Service Revenues 16,060.00
Salaries Expense 8,400.00
Advertising Expense 3,230.00
Rent Expense 5,300.00
Utilities Expense 1,240.00
TOTALS 260,850.00 260,850.00
 NANCY MULLES DATA ENCODER
Income Statement

Service Revenues 16,060.00

Less: Expenses
Rent Expense (5,300.00)
Salaries Expense (8,400.00)
Advertising Expense (3,230.00)
Utilities Expense (1,240.00) 18,170.00
Net Profit / Loss 2,110.00

NANCY MULLES DATA ENCODER

Statement of Changes in Owner’s Equity

Nancy Mulles Capital 214,500.00

Less: Drawing ( 4,500.00 )
Add. Net Income 2,110.00
Owner’s Equity 207,890.00
 NANCY MULLES DATA ENCODER
Statement of Financial Position
For the Month of May 2013

Assets:
Cash 115,240.00
Accounts Receivable ----- 0 -----
Supplies 2,290.00
Office Equipment 72,650.00
Computer Software 39,000.00
Signage 9,000.00
TOTAL ASSETS: 238,180.00
Liabilities and Owner’s Equity
Liabilities:
Accounts Payable 30,290.00
Owner’s Equity: 207,890.00
TOTAL LIABILITIES AND OWNER’S EQUITY 238,180.00
 NANCY MULLES DATA ENCODER
Statement of Cash Flows

Cash flow from operating expenses:

Payment to Creditor ---- 0 ----
Service Revenue 16,060.00
Collection from accounts Receivable ---- 0 ----
Payment for All expense
Rent expense ( 5,300.00 )
Advertising Expense ( 3,230.00 )
Utilities Expense ( 1,240.00 )
Salaries Expense ( 8,400.00 ) 18,170.00
Net Cash Flow from Operating Expense 2,110.00
Cash Flow from Investing Activities
Acquired Office Equipmenr ( 15,050.00 )
Acquired Office Computer Software ( 15,000.00 )
Acquired Signage ( 5,000.00 ) ( 35,150.00 )
Net Cash Flow from Investing Activities ( 31,260.00 )
Cash Flows from Financing Activities
Mulles Drawing ( 4,500.00 )
Net Increase / Decrease In Cash ( 41,760.00 )
Net Cash from Beginning Balance 157,000.00
Net Cash as of May 31, 2013 115,240.00
 NANCY MULLES DATA ENCODER
POST CLOSING JOURNAL

DATE ACCOUNT TITLE / EXPLANATION PR DEBIT CREDIT

June Service Revenue 16,060.00
2013 Income Summary 16,060.00
To close Service Revenue against income

Income Summary 18,170.00

Salary Expense 8,400.00
Advertising Expense 3,230.00
Rent Expense 5,300.00
Utilities Expense 1,240.00
Income Summary 2,110.00
Mulles Capital 2,110.00

Income Summary 4,500.00

Mulles Capital 4,500.00
To close income against capital

05/30/14 Service Revenue 16,060.00

Expense (2,110.00) 18,170.00
Mulles capital 18,170.00
 NANCY MULLES DATA ENCODER
POST CLOSING TRIAL BALANCE

ACCOUNT PR DEBIT CREDIT

Cash 115,240.00
Accounts Receivable ----- 0 -----
Supplies 2,290.00
Office Equipment 72,650.00
Computer Software 39,000.00
Signage 9,000.00
Mulles Capital 207,890.00
Accounts Payable 39,290.00
TOTALS
238,180.00 238,180.00