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The document shows journal entries for transactions made by a business throughout a period. It records investments, purchases, expenses, and other transactions. Debits and credits are provided to show the impact on different accounts.

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JAMAICKA HAWILI
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40 views

Far Assignment

The document shows journal entries for transactions made by a business throughout a period. It records investments, purchases, expenses, and other transactions. Debits and credits are provided to show the impact on different accounts.

Uploaded by

JAMAICKA HAWILI
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Journal

Date Accounts Title Debit Credit

1 Cash 200,000
Owners Equity 200,000
to record the owners
investment to
to the
the business

2 Cash 300,000
Notes Payable 300,000
to record bank loan

3 Equipment 360,000
Cash 360,000
to record the purchase
equipment

4 Prepaid supplies 80,000 Accounts Receivab


Cash 80,000
to record the purchase of
supplies

5 Cash 180,000
Service fees 180,000
to record service fees

6 Accounts Recievable 420,000


Service fees 420,000
to record service fees on
account

7 Cash 370,000
Accounts Receivable 370,000
to recordcollected amounts

8 Utilities Expense 16,000


Cash 16,000
to record the payment for
utilities expense

9 Salaries Expense 140,000


Cash 140,000
to record
d the payment for
salaries expense

10 Owner's Drawings 100,000


Cash 100,000
to record the withdrawal
of the owner
LEDGER

ASSETS
Cash Equipment
1 200,000
2 300,000 3 360,000
360,000 3 Bal. 360,000
80,000 4 Accounts
5 180,000 Prepaid Supplies Cash
6 370,000 Accounts Recievable
16,000 7 4 80,000 Prepaid Supplies
140,000 8 80,000 Equipment
100,000 9 Notes Payable
Bal. 354,000 A. Capital
A. Drawings
Service fees
Accounts Recievable
Accounts Receivable Salaries Expense
6 420,000 Utilities Expense
370,000 7 Totals
Bal. 50,000

LIABILITIES Unadjusted Trial Balance

Notes Payable Date Accounts Title


Interest Expense
300,000 2 Interest Payable
300,000 Bal. to accrue interest expenses incurred
but not yet paid
Equity
Depreciation Expenses
Owners Equity Owner's Drawings Accumulated Depreciation
to record the depreciation expense
200,000 1 10 100,000 for the period
200,000 Bal. Bal. 100,000
Bad Debt Expense
Allowance for Bad Debts
INCOME EXPENSES to record the bad debts expense fo
the period.
Service Fees Utilities Expense
180,000 5
420,000 6 8 16,000
600,000 Bal. Bal. 16,000

Salaries Expense

9 140,000
Bal. 140,000
Unadjusted Trial Balance

Entity A
Unadjusted Trial Balance
December 21, 20x1

Accounts Dr Cr
354,000
Accounts Recievable 50,000
Prepaid Supplies 80,000
Equipment 360,000
Notes Payable 300,000
200,000
A. Drawings 100,000
Service fees 600,000
Salaries Expense 140,000
Utilities Expense 16,000
1,100,000 1,100,000

ADJUSTING ENTRIES

Accounts Title Debit Credit


Interest Expense P 9,000
Interest Payable 9,000
to accrue interest expenses
xpenses incurred
but not yet paid

Depreciation Expenses 12,000


Accumulated Depreciation 12,000
to record the depreciation expenses
for the period

Bad Debt Expense


Allowance for Bad Debts
to record the bad debts expense for
the period.

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