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Assets = Liabilities + Equity
Increases are recorded as: Debits Credits Credits
Decreases are recorded as: Credits Debits Debits

table colours #f5faff, #daeaf5 (light blue) #0b6396 (dark blue headers)

table colours #b1c3ce (light green) #165a65 (dark green table headers and borders)

Post Transactions

Cash Bank Loan Share Capital Repair Revenue
(1) 5,000 (2) 900 (8) 2,500 (5) 7,500 (1) 5,000 (3) 1,500
(5) 7,500 (8) 2,500
(6) 500 (10) 2,000
Accounts Receivable Accounts Payable Electricity Expense
(3) 1,500 (6) 500 (10) 2,000 (4) 2,000 (7) 200
(7) 200
Prepaid Expense Rent Expense
(2) 900 (11) 300 (11) 300
Unused Supplies Supplies Expense
(4) 2,000 (9) 800 (9) 800

Account Balance List Table

Account Balance Account Balance
Accounts Payable $9,000 Insurance Expense $500
Accounts Receivable 6,000 Repair Revenue 19,000
Advertising Expense 2,200 Supplies Expense 800
Bank Loan 5,000 Telephone Expense 250
Cash 1,000 Truck 9,000
Share Capital 2,000 Truck Operation Expense 1,250
Commissions Expense 4,500 Wages Expense 4,000
Equipment 7,000 Wages Payable 1,500

T Account template

Debit Credit

10,000

3,000

400

8,000

3,000

3,000

2,400

2,000

7,100

200

 
Balance (debit): 3,700

Bank Reconciliation Template

COMPANY NAME
Bank Reconciliation
December 31, 20XX
Bank Statement Balance at 12/31/XX $ XXX Book Balance at 12/31/XX $ XXX
Deposits in transit XXX Income not recorded on books XXX
Outstanding checks XXX Bank interest income XXX
Expenses not recorded on books (XXX)
Bank account charges (XXX)
Adjusted Bank Balance $ XXX Adjusted Book Balance $ XXX
Figure 0.0.0 Bank Reconciliation A bank reconciliation includes categories for adjustments to both the bank balance and the book balance. Bank Reconciliation. By Rice University. Source: Openstax CC BY-NC-SA 4.0 Long Description

General Journal Template

GENERAL JOURNAL
Date Description PR Debit Credit
20XX
Jan. 1 Cash 101 $10,000
Share Capital 320 $10,000
To record the issuance of share capital.
Jan. 2 Accounts receivable $5,000
Revenue $5,000
To record revenue earned.

Trial Balance Template #1

Big Dog Carworks Corp. Trial Balance At January 31.
Acct. No. Account Debit Credit
101 Cash $3,700
110 Accounts receivable 2,000
161 Prepaid insurance 2,400
183 Equipment 3,000
184 Truck 8,000
201 Bank loan $6,000
210 Accounts payable 700
247 Unearned revenue 400
320 Share capital 10,000
330 Dividends 200
450 Repair revenue 10,000
654 Rent expense 1,600
656 Salaries expense 3,500
668 Supplies expense 2,000
670 Truck operation expense 700
$27,100 $27,100

Trial Balance Template #2

Davidson Tools Rentals Corporation Trial Balance at May 31, 2015
Account Balances
Debit Credit
Cash $4,200
Accounts Receivable 2,800
Prepaid Advertising 250
Unused Supplies 200
Equipment 1,200
Accounts Payable $1,650
Share Capital 5,000
Service Revenue 7,500
Advertising Expense 250
Commissions Expense 1,100
Rent Expense 400
Supplies Expense 100
Salaries Expense 3,500
Telephone Expense 150
$14,150 $14,150

Trial Balance Template #3

Cushio Corp. Trial Balance at August 31, 2016
Incorrect Adjustments Correct Balance
Debit Credit Debit Credit Debit Credit
Cash $102,000 102,000
Accounts Receivable 59,730 3 270 1 5,000 55,000
Prepaid Expenses 2,000 6 6,000 8,000
Office Supplies Inventory 5,500 5,500
Equipment 115,000 5 10,000 125,000
Accounts Payable $74,500 4 500 85,000
5 10,000
Unearned Revenue 50,000 2 5,000 45,000
Share Capital 25,000 25,000
Retained Earnings 50,500 50,500
Revenue 245,000 2 5,000 250,000
Repairs Expense 1,000 4 500 1,500
Rent Expense 25,000 25,000
Advertising Expense 24,500 6 6,000 18,500
Salaries Expense 115,000 115,000
$449,730 $445,000 $21,770 $26,500 $455,500 $455,500

Income Statement Template

ABC Co.
Income Statement for the Month Ended August 31, 2016
Revenues
Service Revenue $29,000
Expenses
Electricity expense 200
Vehicle Travel expense 25
Repairs Expense 5,000
Rent expense 5,000
Salaries expense 2,000
Interest expense 150 12,375
Net income $16,625

Statement of Changes In Equity Template

ABC Co.
Statement of Changes in Equity For the Month Ended August 31, 2016
Share Capital Retained Earnings Total Equity
Opening Balance $ – $ – $ –
Shares Issued 3,000 3,000
Net Income 16,625 16,625
Ending Balance $3,000 $16,625 $19,625

Balance Sheet Template

ABC Co.
Balance Sheet At August 31, 2016
Assets Liabilities
Cash $9,275 Accounts payable $6,000
Accounts receivable 10,000 Loan payable 8,650
Prepaid rent 5,000 Note payable 27,500
Office supplies inventory 3,000 Unearned service revenue 2,000
Equipment 1,000 Total liabilities $44,150
Vehicle 30,000 Equity
Furniture 3,000 Share capital $3,000
Computer 2,500 Retained earnings 16,625
Total equity 19,625
Total Assets $63,775 Total liabilities and equity $63,775

Ledger Accounts with transactions

License

Icon for the Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License

Intermediate Financial Accounting 2 Copyright © 2022 by Michael Van Roestel is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License, except where otherwise noted.

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