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    Workbook P.22 "T" Accounts Journal Entries Cash Date Account Title Debit Credit

    Uploaded by

    Lois Cipriano Lu Lim
    The document shows journal entries for Ivan Travel Agency from January to March. On January 3, Ventura Capital invested $1,000,000 in the agency. Furniture and fixtures were purchased on credit. Prepaid rent of $26,400 was paid. Notes payable of $250,000 were taken out. Books worth $70,000 were purchased. In February, utilities expense and payable accounts were recorded. Salaries of $20,000 were paid. Revenue of $10,000 was earned. In March, notes receivable provided $3,000 and revenue was regularly recorded. Ventura took a $2,500 drawing and the period ended.

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    Workbook P.22 "T" Accounts Journal Entries Cash Date Account Title Debit Credit

    Uploaded by

    Lois Cipriano Lu Lim
    53 views5 pages
    The document shows journal entries for Ivan Travel Agency from January to March. On January 3, Ventura Capital invested $1,000,000 in the agency. Furniture and fixtures were purchased on credit. Prepaid rent of $26,400 was paid. Notes payable of $250,000 were taken out. Books worth $70,000 were purchased. In February, utilities expense and payable accounts were recorded. Salaries of $20,000 were paid. Revenue of $10,000 was earned. In March, notes receivable provided $3,000 and revenue was regularly recorded. Ventura took a $2,500 drawing and the period ended.

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    The document shows journal entries for Ivan Travel Agency from January to March. On January 3, Ventura Capital invested $1,000,000 in the agency. Furniture and fixtures were purchased on credit. Prepaid rent of $26,400 was paid. Notes payable of $250,000 were taken out. Books worth $70,000 were purchased. In February, utilities expense and payable accounts were recorded. Salaries of $20,000 were paid. Revenue of $10,000 was earned. In March, notes receivable provided $3,000 and revenue was regularly recorded. Ventura took a $2,500 drawing and the period ended.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    53 views5 pages

    Workbook P.22 "T" Accounts Journal Entries Cash Date Account Title Debit Credit

    Uploaded by

    Lois Cipriano Lu Lim
    The document shows journal entries for Ivan Travel Agency from January to March. On January 3, Ventura Capital invested $1,000,000 in the agency. Furniture and fixtures were purchased on credit. Prepaid rent of $26,400 was paid. Notes payable of $250,000 were taken out. Books worth $70,000 were purchased. In February, utilities expense and payable accounts were recorded. Salaries of $20,000 were paid. Revenue of $10,000 was earned. In March, notes receivable provided $3,000 and revenue was regularly recorded. Ventura took a $2,500 drawing and the period ended.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    of 5

    WORKBOOK P.

    22
    "T" Accounts
    JOURNAL ENTRIES
    Cash
    Date Account Title Debit Credit 2013 2013
    2013 12/1 900,000 12/1 50,000
    Dec 1 Cash 900,000 12/17 20,000 12/3 50,000
    P. Ivan Capital 900,000 12/23 25,000 12/4 5,000
    12/30 250,000 12/13 8,000
    Prepaid Rent 50,000 12/19 20,000
    Cash 50,000 12/27 30,000
    12/29 50,000
    3 Office Machines 100,000 1,195,000 213,000
    Cash 50,000 balance 982,000
    Accounts Payable 50,000
    Accounts Receivable
    4 Supplies 5,000 2013 2013
    Cash 5,000 12/17 25,000 12/23 25,000
    balance -
    8 Advertising Expense 30,000
    Accounts Payable 30,000 Supplies
    2013
    13 Salaries Expense 8,000 12/4 5,000
    Cash 8,000
    Prepaid Rent
    17 Cash 20,000 2013
    Accounts Receivable 25,000 12/1 50,000
    Service Revenue 45,000
    Office Machines
    19 P. Ivan Withdrawal 20,000 2013
    Cash 20,000 12/3 100,000

    23 Cash 25,000
    Accounts Receivable 25,000

    27 Accounts Payable 30,000


    Cash 30,000

    29 Accounts Payable 50,000


    Cash 50,000

    30 Cash 250,000
    Notes Payable 250,000

    Utilities Expense 15,000


    Utilities Payable 15,000
    Ivan Travel Agency
    Trial Balance
    December 31, 2013
    Accounts Payable P. Ivan Capital
    2013 2013 2013
    12/27 30,000 12/3 50,000 12/1 900,000 Cash
    12/29 50,000 12/8 30,000 Accounts Receivable
    80,000 80,000 Supplies
    balance - P. Ivan Withdrawal Prepaid Rent
    2013 Office Machines
    Utilities Payable 12/19 20,000 Accounts Payable
    2013 Utilities Payable
    12/30 15,000 Service Revenue Notes Payable
    2013 Ivan Capital
    Notes Payable 12/17 45,000 Ivan Withdrawal
    2013 Service Revenue
    12/30 250,000 Salaries Expense Salaries Expense
    2013 Utilities Expense
    12/13 8,000 Advertising Expense

    Utilities Expense
    2013
    12/30 15,000

    Advertising Expense
    2013
    12/8 30,000
    Ivan Travel Agency
    Trial Balance
    December 31, 2013

    Debit Credit
    982,000
    -
    5,000
    50,000
    100,000
    -
    15,000
    250,000
    900,000
    20,000
    45,000
    8,000
    15,000
    30,000
    1,210,000 1,210,000
    WORKBOOK p.29

    JOURNAL ENTRIES

    Date Account Title Debit Credit

    Jan 3 Cash 1,000,000.00


    Ventura Capital 1,000,000.00

    5 Furniture & Fixtures 40,000.00


    Accounts Payable 40,000.00

    6 Prepaid Rent 26,400.00


    Cash 26,400.00

    10 no transaction

    12 Office Supplies 5,300.00


    Cash 5,300.00

    17 Cash 80,000.00
    Unearned Service Revenue 80,000.00

    26 Cash 250,000.00
    Notes Payable 250,000.00

    30 Books 70,000.00
    Cash 70,000.00

    Feb 4 Utilities Expense 50,000.00


    Utilities Payable 50,000.00

    8 Utilities Payable 50,000.00


    Cash 50,000.00

    15 Salaries Expense 20,000.00


    Cash 20,000.00

    20 Cash 4,000.00
    Accounts Receivable 6,000.00
    Service Revenue 10,000.00

    28 Notes Receivable 5,000.00


    Service Revenue 5,000.00

    Mar 10 Cash 20,000.00


    Service Revenue 20,000.00

    15 Cash 3,000.00
    Notes Receivable 3,000.00

    20 Ventura Drawing 2,500.00


    Cash 2,500.00

    25 Accounts Receivable 6,000.00


    Service Revenue 6,000.00

    30 Cash 20,000.00
    Service Revenue 20,000.00

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