Example 10-AAA Company

AAA Company is Service Company. Below are accounting transactions of AAA Company During December, 20X1 for closing monthly financial statements.

Date of December ,20X1	Financial Transactions	Gross Amount ($)
1	Company bought a car for use by cheque	20,000
3	Mr. A, owner, added more capital into bank	50,000
7	Company provides service CBB, Customer, in cash. CBB get trade discount 2% immediately on sale because it is regular customer.	20,000
8	Staff deposited Cash from CBB into bank	19,600
9	Now company received invoice $510 for utilities expense from XYZ Electricity and Water Company, and AAA Company paid this bill. At end of November, company estimated this bill $500.	510
9	Company provides service to DDD customer on credit	3,000
12	DDD customer paid company $2,700 by cheque because company provided service not well, so $300 is credit note.	3,000
15	Company borrowed from Bank, and interest rate 1% per month.	10,000
18	Because urgent case at his family, so Mr. A, owner, toke cash $3,000 for his family.	3,000
30	Company paid salary expenses for employees by Bank	20,000
30	Company paid for rent expense by Cheque	5,000

Additional Information:

AAA Company
Post (After) Closing Trial Balance
30-Nov-20X1
	Debit	Credit
Cash on hand	15,000
Equity		56,710
Fixed asset, Furniture ( note 1)	36,000
Cash at Bank	7,210
Accumulated Depreciation		1,000
Accrued utilities		500
Total	58,210	58,210

Note 1: Office furniture has useful life 3 years the same as previous accounting policy.

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