Journal entries for January:
Date | Accounts | Ref. | Debit | Credit | |
2018 | |||||
Jan | 1 | Cash | $ 25,000 | ||
Capital | $ 25,000 | ||||
Capital brought in by owner | |||||
Oven | $ 2,500 | ||||
Display case | $ 600 | ||||
Furniture | $ 1,100 | ||||
Backlit sign | $ 800 | ||||
Cash | $ 5,000 | ||||
Assets acquired by cash | |||||
Inventory | $ 1,500 | ||||
Accounts Payable | $ 1,500 | ||||
Purchased inventory on credit. | |||||
Rent deposit | $ 7,000 | ||||
Cash | $ 7,000 | ||||
Prepayment of Rent deposit ( three and half months rent) | |||||
Insurane premium | $ 1,800 | ||||
Cash | $ 1,800 | ||||
Insurance premium paid as required by landlord | |||||
Cash | $ 400 | ||||
Accounts Receivable | $ 400 | ||||
Advance deposited by customer | |||||
10 | Inventory | $ 700 | |||
Accounts payable | $ 700 | ||||
Purchased inventory on credit | |||||
11 | Cash | $ 900 | |||
Sales | $ 900 | ||||
Inventory sold on cash | |||||
12 | Accounts Receivable | $ 2,000 | |||
Sales | $ 2,000 | ||||
Inventory sold on credit | |||||
13 | Cash | $ 1,500 | |||
Sales | $ 1,500 | ||||
Inventory sold on cash | |||||
14 | Salaries and wages | $ 1,200 | |||
Cash | $ 1,200 | ||||
Salary paid | |||||
15 | Cash | $ 2,000 | |||
Accounts receivable | $ 2,000 | ||||
Cash received from account receivables | |||||
24 | Inventory | $ 700 | |||
Accounts payable | $ 700 | ||||
Purchased inventory on credit | |||||
28 | Salaries and wages | $ 1,200 | |||
Cash | $ 1,200 | ||||
Salary paid | |||||
30 | Accounts Receivable | $ 2,500 | |||
Sales | $ 2,500 | ||||
Inventory sold on credit | |||||
Cash Account | |||||||
Date | Particulars | Amount | Date | Particulars | Amount | ||
2018 | 2018 | ||||||
Jan | 1 | Capital | $ 25,000 | Jan | 1 | Oven | $ 2,500 |
Accounts Receivable | $ 400 | Display case | $ 600 | ||||
11 | Sales | $ 900 | Furniture | $ 1,100 | |||
13 | Sales | $ 1,500 | Backlit sign | $ 800 | |||
15 | Accounts Receivable | $ 2,000 | Rent deposit | $ 7,000 | |||
Insurance | $ 1,800 | ||||||
14 | Salaries and wages | $ 1,200 | |||||
28 | Salaries and wages | $ 1,200 | |||||
Balance c/f | $ 13,600 | ||||||
$ 29,800 | $ 29,800 |
Trial Balance | ||
Particulars | Debit Total | Credit Total |
Cash | $ 13,600 | |
Accounts Receivable | $ 2,100 | |
Oven | $ 2,500 | |
Display case | $ 600 | |
Furniture | $ 1,100 | |
Backlit sign | $ 800 | |
Rent deposit | $ 7,000 | |
Insurance | $ 1,800 | |
Salaries and wages | $ 2,400 | |
Inventory | $ 2,900 | |
Capital | $ 25,000 | |
Sales | $ 6,900 | |
Accounts payable | $ 2,900 | |
Total | $ 34,800 | $ 34,800 |
This assignment is a case study which must be completed in Excel. You are expected to...
This assignment is a case study which must be completed in Excel. You are expected to use T-Tables to produce Trial Balance. The assignment will involve aspects of the material from all weeks of the course and is designed for you to demonstrate your new (or newly refreshed) accounting knowledge. It accounts for 30% of the final grade and you must achieve at least 50% in both this assignment and the course as a whole to pass. Case Study: JJ...
This assignment is a case study which must be completed in Excel. You are expected to use T-Tables to produce Trial Balance. The assignment will involve aspects of the material from all weeks of the course and is designed for you to demonstrate your new (or newly refreshed) accounting knowledge. It accounts for 30% of the final grade and you must achieve at least 50% in both this assignment and the course as a whole to pass. Case Study: JJ...
Final Assignment This assignment is a case study which must be completed in Excel. You are expected to use T-Tables to produce Trial Balance. The assignment will involve aspects of the material from all weeks of the course and is designed for you to demonstrate your new (or newly refreshed) accounting knowledge. It accounts for 30% of the final grade and you must achieve at least 50% in both this assignment and the course as a whole to pass. Case...
In January 2018, Carmen Ding decided to open a small ribbon shop in Bandar Baru Nilai. During the month, she put together a simple business plan, which she took to several relatives whom she believed would be interested in helping her finance the new venture. Two of her cousins agreed to loan the business RM10,000 for one year at a 6 percent interest rate. For her part, Carmen agreed to invest RM1,000 in the equity of the business. On March...
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