Scribd Logo
Upload

Welcome to Scribd!

  • 147 views

    JGF Company

    Uploaded by

    Melo Von Gibson
    JGF Company recorded various transactions in January 2022 related to starting a business. On January 1, JGF received $250,000 in capital. Throughout the month, JGF purchased office supplies, equipment, furniture, and incurred organization expenses. Debts were incurred through accounts payable and notes payable. Revenues from accounts receivable and payments on notes payable and accounts payable were also recorded. By January 31, salaries, rent, utilities and other expenses had been paid, leaving $101 in cash and completing the first month of operations.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd

    JGF Company

    Uploaded by

    Melo Von Gibson
    147 views19 pages
    JGF Company recorded various transactions in January 2022 related to starting a business. On January 1, JGF received $250,000 in capital. Throughout the month, JGF purchased office supplies, equipment, furniture, and incurred organization expenses. Debts were incurred through accounts payable and notes payable. Revenues from accounts receivable and payments on notes payable and accounts payable were also recorded. By January 31, salaries, rent, utilities and other expenses had been paid, leaving $101 in cash and completing the first month of operations.

    Original Title

    JGF-Company

    Copyright

    © © All Rights Reserved

    Available Formats

    PPTX, PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    JGF Company recorded various transactions in January 2022 related to starting a business. On January 1, JGF received $250,000 in capital. Throughout the month, JGF purchased office supplies, equipment, furniture, and incurred organization expenses. Debts were incurred through accounts payable and notes payable. Revenues from accounts receivable and payments on notes payable and accounts payable were also recorded. By January 31, salaries, rent, utilities and other expenses had been paid, leaving $101 in cash and completing the first month of operations.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    147 views19 pages

    JGF Company

    Uploaded by

    Melo Von Gibson
    JGF Company recorded various transactions in January 2022 related to starting a business. On January 1, JGF received $250,000 in capital. Throughout the month, JGF purchased office supplies, equipment, furniture, and incurred organization expenses. Debts were incurred through accounts payable and notes payable. Revenues from accounts receivable and payments on notes payable and accounts payable were also recorded. By January 31, salaries, rent, utilities and other expenses had been paid, leaving $101 in cash and completing the first month of operations.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    of 19

    JGF Company

    Jan 1 Cash 250,000


    JGF, Capital 250,000
    Jan 3 Organization Expense 10,000
    Cash 10,000
    Jan 5 Office Supplies 7,500
    Accounts Payable 7,500
    Jan 10 Equipment 35,000
    Cash 5,000
    Notes Payable 30,000
    • Jan 11 Furniture and Fixtures 25,000
    Accounts Payable 25,000

    Jan 12 Cash 35,000


    Professional Fees 35,000
    Jan 15 Accounts Receivable 25,000
    Professional Fees 25,000
    Jan 30 Cash 30,000
    Notes payable 30,000
    Jan 30 Cash 15,000
    Accounts Receivable 15,000
    Jan 31 Salaries Expense 20,000
    Rent Expense 10,000
    Utilities Expense 4,000
    Cash 34,000
    Jan 31 JGF, Drawing 5,000
    Cash 5,000
    Cash 101
    Date Explanation Ref Debit Credit Balance
    Jan 1 250,000 250,000
    Accounts Receivable 111

    Date Explanation Ref Debit Credit Balance


    Jan
    Office Supplies 131

    Date Explanation Ref Debit Credit Balance


    Furniture and Fixtures 145
    Date Explanation Ref Debit Credit Balance
    Equipment 150
    Date Explanation Ref Debit Credit Balance
    Accounts Payable 201
    Date Explanation Ref Debit Credit Balance
    Notes Payable 212

    Date Explanation Ref Debit Credit Balance


    JGF, Capital 300
    Date Explanation Ref Debit Credit Balance
    Jan 1 J1 250,000 250,000
    JGF, Drawing 301
    Date Explanation Ref Debit Credit Balance
    Professional Fees 406
    Date Explanation Ref Debit Credit Balance
    Salaries Expense 611
    Date Explanation Ref Debit Credit Balance
    Rent Expense 615
    Date Explanation Ref Debit Credit Balance
    Utilities Expense 621
    Date Explanation Ref Debit Credit Balance
    Organization Expense 625
    Date Explanation Ref Debit Credit Balance
    JGF Company
    Trial Balance
    January 31, 2022

    ACCOUNT CODE DEBITS CREDITS


    101 Cash P
    111 Accounts Receivable
    131 Office Supplies 7,500
    145 Furniture and Fixtures 25,000
    150 Equipment 35,000
    201 Accounts payable P
    212 NOtes Payable
    300 JGF, Capital 250,000
    301 JGF, Drawing 5,000
    406 Professional Fees
    611 Salaries Expense 20,000
    615 Rent Expense 10,000
    621 Utilities Expense 4,000
    625 Organization Expense 10,000
    TOTALS P 402,500 P 402,500

    You might also like

    pFad - Phonifier reborn

    Pfad - The Proxy pFad of © 2024 Garber Painting. All rights reserved.

    Note: This service is not intended for secure transactions such as banking, social media, email, or purchasing. Use at your own risk. We assume no liability whatsoever for broken pages.


    Alternative Proxies:

    Alternative Proxy

    pFad Proxy

    pFad v3 Proxy

    pFad v4 Proxy