Prepare a trial balance from the general ledger, determine the missing amount for salaries expense, and determine the company’s profit for its first month.
CASH | |||||
Date | Description | Debit | Credit | Balance | |
02-Jan-X8 | Balance forward | – | – | – | |
03-Jan-X8 | Journal Page 1 | 250,000 | – | 250,000 | |
10-Jan-X8 | Journal Page 1 | – | 75,000 | 175,000 | |
14-Jan-X8 | Journal Page 1 | – | 15,000 | 160,000 | |
18-Jan-X8 | Journal Page 2 | 40,000 | – | 200,000 | |
21-Jan-X8 | Journal Page 2 | 4,000 | 196,000 | ||
26-Jan-X8 | Journal Page 2 | 3,000 | 193,000 | ||
31-Jan-X8 | Journal Page 2 | 26,000 | – | 219,000 | |
ACCOUNTS RECEIVABLE | |||||
Date | Description | Debit | Credit | Balance | |
02-Jan-X8 | Balance forward | – | – | – | |
06-Jan-X8 | Journal Page 1 | 55,000 | – | 55,000 | |
18-Jan-X8 | Journal Page 2 | – | 40,000 | 15,000 | |
LAND | |||||
Date | Description | Debit | Credit | Balance | |
02-Jan-X8 | Balance forward | – | – | – | |
10-Jan-X8 | Journal Page 1 | 75,000 | – | 75,000 | |
SALARIES PAYABLE | |||||
Date | Description | Debit | Credit | Balance | |
02-Jan-X8 | Balance forward | – | – | – | |
31-Jan-X8 | Journal Page 2 | – | 18,000 | 18,000 | |
CAPITAL STOCK | |||||
Date | Description | Debit | Credit | Balance | |
02-Jan-X8 | Balance forward | – | – | – | |
03-Jan-X8 | Journal Page 1 | – | 250,000 | 250,000 | |
REVENUES | |||||
Date | Description | Debit | Credit | Balance | |
02-Jan-X8 | – | – | – | ||
06-Jan-X8 | Journal Page 1 | – | 55,000 | 55,000 | |
31-Jan-X8 | Journal Page 2 | – | 26,000 | 81,000 | |
SUPPLIES EXPENSE | |||||
Date | Description | Debit | Credit | Balance | |
02-Jan-X8 | – | – | – | ||
26-Jan-X8 | Journal Page 2 | 3,000 | – | 3,000 | |
UTILITIES EXPENSE | |||||
Date | Description | Debit | Credit | Balance | |
02-Jan-X8 | – | – | – | ||
21-Jan-X8 | Journal Page 2 | 4,000 | – | 4,000 | |