The document describes journal entries, ledger accounts, and a trial balance for a business called Campus Laundromat. It provides details of transactions during the first month of operations in September 2017, including an owner investment of $20,000 cash, $1,000 paid for rent, $1,200 paid for insurance, and $700 withdrawn for personal use. Journal entries are made for each transaction and ledger accounts are opened and balanced. A trial balance at September 30, 2017 lists the balances of each account.

1. JOURNAL,LEDGER AND
TRIAL BALANCE

2. 
NAME ID
Md. Asif-al-fahad 142-15-3659
Md. Zahid hasan 142-15-3466
Tanmoy saha 142-15-4008
Md. Wali ullah 141-15-3314
GROUP MEMBERES

3. 
Journal means a daily record of business transactions. Journal
is a book of original entry because transaction is first written
in the Journal from which it is posted to the ledger.
JOURNAL

4. 
Increase Debit
ASSET
Decrease Credit
Increase Credit
LIABILITY
Decrease Debit
Increase Debit
EXPENSE
Decrease Credit

5. 
Increase Credit
REVENUE
Decrease Debit
Increase Credit
EQUITY
Decrease Debit

6. Bob Sample opened the Campus Laundromat on September 1, 2017. During
the first month of operations, the following transactions occurred.
Sept. 1 Bob invested $20,000 cash in the business.
2 The company paid $1,000 cash for store rent for September.
3 Paid $1,200 for a one-year accident insurance policy.
4 Bob withdrew $700 cash for personal use.
The chart of accounts for the company is the same as that for Pioneer
Advertising plus No. 610 Advertising Expense.
Instructions:
(a) Journalize the September transactions. (Use J1 for the journal page
number.)
(b) Open ledger accounts and post the September transactions.
(c) Prepare a trial balance at September 30, 2017.

7. Date Account Titles and Explanation Ref. Debit Credit
2017 Sept. 1 Cash
Owner’s Capital
(Owner’s investment of cash in
business)
20,000
20,000
2017 Sept. 2 Rent Expense
Cash
(Paid September rent)
1,000
1,000
2017 Sept. 3 Prepaid Insurance
Cash
(Paid one-year insurance policy)
1,200
1,200
2017 Sept. 4 Owner’s Drawings
Cash
(Withdrew cash for personal use)
700
700
CAMPUS LAUNDROMAT
JOURNAL
Solution

8. 
A ledger account may be defined as a summary statement of
all the transactions relating to a person, asset, expense or
income which have taken place during a given period of time
and shows their net effect.
LEDGER

9. 
Date Explanation Ref. Debit Credit Balance
2017 Sept. 1
2017 Sept. 2
2017 Sept. 3
2017 Sept. 4
20,000
1,000
1,200
700
20,000
19,000
17,800
17,100
CAMPUS LAUNDROMAT
LEDGER
Cash
Date Explanation Ref. Debit Credit Balance
2017 Sept. 1 20,000 20,000
Owner’s Capital
Date Explanation Ref. Debit Credit Balance
2017 Sept. 2 1,000 1,000
Rent Expense
Prepaid Insurance
Date Explanation Ref. Debit Credit Balance
2017 Sept. 3 1,200 1,200
Owner’s Drawings
Date Explanation Ref. Debit Credit Balance
2017 Sept. 4 700 700

10. 
Accounts Debit Credit
Cash 17,100
Owner’s Capital 20,000
Rent Expense 1,000
Prepaid Insurance 1,200
Owner’s Drawings 700
Total= 20,000 20,000
CAMPUS LAUNDROMAT
TRIAL BALANCE

11. 
Thank You