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1. PREPARE TRIAL BALANCE FOR THESE TRANSACTIONS 2. RECORD THESE TRANSACTIONS USING T ACCOUNTS 3. RECORD THESE TRANSACTIONS USING JOURNAL ENTRIES 4. PREPARE BALANCE SHEET AND INCOME STATEMENT 5. TO BALANCE THE BALANCE SHEET MAKE FINAL ADJUSTMENT ENTRY

	SAMS PIZZA PLACE TRANSACTIONS		DR		CR
MAY 1ST	Sam Johnson invests $10,000 in cash in Pizza business called Sams plc.	CASH	10,000	EQUITY SHRES	10,000
2ND	Sam Plc buys a pizza over for $20,000.Pays $5,000 in cash.	FIXED ASSET OVEN	20000	CASH	5000
	The balance will be paid in equal payments of $1000 over next 15 months			NOTE PAYABLE	15000
3RD	Sam takes a shop on rent pays $500 for May	SHOP RENT EXPENSE	500	CASH	500
5TH	Sams sells $200 of pizza. All customers paid cash	CASH	200	SALE INCOME	200
6TH	Sams rents a delivery car for $300 for May, pays rent in cash for the month	CAR RENT EXPENSE	300	CASH	300
8TH	Sams sells $1000 of pizza to a nearby office ON ACCOUNT.	ACCOUNTS RECEIVABLE	1000	SALE INCOME	1000
12TH	Same receives a bill for gas of $100, but decides to pay later	GAS EXPENSE	100	ACCOUNTS PAYABLE	100
13TH	The office settles $500 of its pizza bill, promises to pay rest on MAY 31ST	CASH	500	ACCOUNTS RECEIVABLE	500
15TH	Sams sells $440 of pizza for cash	CASH	440	SALE INCOIME	440
16TH	sells $350 of pizza for cash	CASH	350	SALE INCOME	350
17TH	pays a delivery boy he hired $300 in cash	SALARY EXPENSE	300	CASH	300
18TH	receives a wifi installation bill of $50 and pays it in cash	WIFI EXPENSE	50	CASH	50
19TH	takes $275 as dividend to pay personal expenses	DIVIDENDS	250	CASH	250
31ST	pays $1000 due on the oven for month of June	NOTE PAYABLE	1000	CASH	1000
	TOTAL		25000		25000

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