Question

please journal EACH transaction using the appropriate account code as given example of transaction 1

Answer 1

	Journal Entry #	Account #	Account description				Debit	Credit
	1	1000	Cash				200000
		3000	Common stock					1000
		3050	Additional paid in capital					199000
			(Ted mason invest in exchange of shares)
	2	1400	Supplies				6000
		1000	Cash					6000
			(Supplies bought)
	3	1300	Pre-paid expense		(6000+3600)		9600
		1000	Cash					9600
			(Rent and insurance paid in advance)
	4	1500	Machines				36000
		1000	Cash					36000
			(Machies purchased)
	5	No entry
		(Entry to be passed on 5th day of next month
		whe the salary is due)
	6	1000	Cash				40000
		2100	Unearned service revenue					40000
			(Service revenue received in advance)
	7	1200	Inventory		(5*10000)		50000
		2000	Accouts payable					50000
			(Boats purchased on credit)
	8	1100	Accounts receivable		(2*35000)		70000
			Revenue-Yacht sales					70000
			(Yachtes sold on credit)
		5000	Cost of goods sold				20000
		1200	Inventory		(2*10000)			20000
			(Cost of goods sold recorded)
	9	3100	Dividends		(1*1000)		1000
		1000	Cash					1000
			(Divided declared and paid)