| Account Title | Debit ($) | Credit ($) |
|---|
The company operated under single-entry manual ledgers until September 30[cite: 5]. A certified physical count and balance verification established the opening balance sheet on October 1[cite: 5].
| Balance Sheet Account Title | Debit Balance ($) | Credit Balance ($) |
|---|---|---|
| Cash - Operating Bank | 14,500.00 | - |
| Accounts Receivable (Oakridge Apts $4,200; T. Miller $2,000) | 6,200.00 | - |
| Parts & Materials Inventory (Beginning Physical Count) | 9,800.00 | - |
| Prepaid Commercial Insurance (6 Months Coverage) | 2,400.00 | - |
| Service Vans & Fleet Trucks | 38,000.00 | - |
| Accumulated Depreciation - Service Vans | - | 12,000.00 |
| Plumbing Machinery & Heavy Tools | 16,500.00 | - |
| Accumulated Depreciation - Machinery & Tools | - | 4,500.00 |
| Accounts Payable - Plumbing Supply (Ferguson Supply #F-902) | - | 5,300.00 |
| Notes Payable - Equipment Loan | - | 15,600.00 |
| Smelly Smith, Capital (50%) | - | 25,000.00 |
| Stinky Brown, Capital (50%) | - | 25,000.00 |
| Total Conversion Verification | $87,400.00 | $87,400.00 |
| Code / Range | Classification | Account Title | Normal Balance |
|---|---|---|---|
| 101 | Current Assets | Cash - Operating Bank | Debit |
| 105 | Current Assets | Accounts Receivable | Debit |
| 115 | Current Assets | Parts & Materials Inventory | Debit |
| 120 | Current Assets | Prepaid Commercial Insurance | Debit |
| 150 | Property, Plant & Equipment | Service Vans & Fleet Trucks | Debit |
| 151 | Contra Asset | Accumulated Depreciation - Service Vans | Credit |
| 160 | Property, Plant & Equipment | Plumbing Machinery & Heavy Tools | Debit |
| 161 | Contra Asset | Accumulated Depreciation - Machinery & Tools | Credit |
| 201 | Current Liabilities | Accounts Payable - Plumbing Supply | Credit |
| 250 | Long-Term Liabilities | Notes Payable - Equipment Loan | Credit |
| 301 | Members' Equity | Smelly Smith, Capital (50%) | Credit |
| 302 | Members' Equity (Draw) | Smelly Smith, Drawing | Debit |
| 303 | Members' Equity | Stinky Brown, Capital (50%) | Credit |
| 304 | Members' Equity (Draw) | Stinky Brown, Drawing | Debit |
| 401 | Operating Revenue | Plumbing Service Revenue - Residential | Credit |
| 402 | Operating Revenue | Plumbing Service Revenue - Commercial | Credit |
| 405 | Operating Revenue | Parts & Fixtures Sales | Credit |
| 501 | Cost of Goods Sold | Cost of Goods Sold - Parts & Fixtures | Debit |
| 505 | Periodic Inventory / Purchases | Purchases - Plumbing Materials & Parts | Debit |
| 601 | Operating Expense | Direct Apprentice & Helper Wages | Debit |
| 605 | Operating Expense | Fleet Fuel & Gas | Debit |
| 610 | Operating Expense | Truck Maintenance & Repair | Debit |
| 615 | Operating Expense | Small Tools & Consumables | Debit |
| 620 | Operating Expense | Disposal & Dump Fees | Debit |
| 625 | Operating Expense | Rent - Shop & Storage Yard | Debit |
| 630 | Operating Expense | Dispatch & Software Expense | Debit |
| 635 | Operating Expense | Professional & Accounting Fees | Debit |
| 640 | Operating Expense | Insurance Expense | Debit |
| 645 | Operating Expense | Depreciation Expense | Debit |
| 650 | Operating Expense | Merchant & Credit Card Processing Fees | Debit |
| 655 | Operating Expense | Office Supplies | Debit |
| 660 | Operating Expense | Advertising | Debit |
| 665 | Operating Expense | Operating Supplies | Debit |
| 670 | Operating Expense | Repairs and Maintenance | Debit |
| 675 | Operating Expense | Uniforms | Debit |
| 680 | Operating Expense | Utilities | Debit |
| 685 | Operating Expense | Permits and Licenses | Debit |
Beginning inventory physical count verified on October 1 cutover plus newly received trade shipments[cite: 5].
| Date | Item Class / Description | Source / Invoice | Amount ($) |
|---|---|---|---|
| Oct 01, 2026 | Beginning Physical Count (Pipes, Valves, Fittings & Water Heaters) | Certified Conversion Proof[cite: 5] | $9,800.00 |
| Oct 03, 2026 | Wholesale Copper Pipes, PEX Coils & Ball Valves (Txn #5) | Ferguson Invoice #INV-F9921[cite: 5] | $3,200.00 |
| Total On-Hand Parts & Materials Stock: | $13,000.00 | ||
| Txn # | Journal | Date | Account Title & Transaction Narrative | Debit ($) | Credit ($) |
|---|
Subsidiary ledgers maintain detailed line items for customer accounts (A/R) and trade suppliers (A/P)[cite: 5]. These reconcile with their controlling accounts in the General Ledger[cite: 5].
| Txn # | Journal | Date | Reference / Invoice / Voucher | Transaction Description | Increase ($) | Decrease ($) | Running Balance ($) |
|---|
| Customer / Vendor Name | Account Type | Status | Current Balance ($) |
|---|
| Txn # | Journal | Date | Description | Debit ($) | Credit ($) | Balance ($) |
|---|
Evaluates structural changes between the October 1 Opening Conversion and post-transaction status on October 3 (Transaction 5)[cite: 5].
Calculated dynamically from posted ledger balances across Transactions 1–5 for Leaking Plumbing LLC[cite: 5].
Audit trail comparing your entries with the verified solution key for Transactions 1 to 5[cite: 5].
| Txn # | Target Journal | Date | Source Document | Transaction Overview | Attempt Status | Your Submitted Entry | Official Benchmark Solution |
|---|