LINKWORKS | |||
Journal Entries | |||
Date | Account's tittle | Debit $ | Credit $ |
1-Apr | Cash | 115,000 | |
Office Equipment | 27,600 | ||
Common Stock | 142,600 | ||
2-Apr | Prepaid Rent | 7,200 | |
Cash | 7,200 | ||
3-Apr | Office Equipment | 13,800 | |
Office Supplies | 2,760 | ||
Accounts Payable | 16,560 | ||
6-Apr | Cash | 2,000 | |
Service Revenue | 2,000 | ||
9-Apr | Accounts Receivable | 9,200 | |
Service Revenue | 9,200 | ||
13-Apr | Accounts Payable | 16,560 | |
Cash | 16,560 | ||
19-Apr | Prepaid Insurance | 6,000 | |
Cash | 6,000 | ||
22-Apr | Cash | 7,360 | |
Accounts Receivable | 7,360 | ||
25-Apr | Accounts Receivable | 2,640 | |
Service Revenue | 2,640 | ||
28-Apr | Dividend | 6,200 | |
Cash | 6,200 | ||
29-Apr | Office Supplies | 920 | |
Accounts Payable | 920 | ||
30-Apr | Utilities Expense | 700 | |
Cash | 700 |
LINKWORKS | ||||
Cash | ||||
Date | Account's tittle | Debit $ | Account's tittle | Credit $ |
1-Apr | Common Stock | 115,000 | ||
2-Apr | Prepaid Rent | 7,200 | ||
6-Apr | Service Revenue | 2,000 | ||
13-Apr | Accounts Payable | 16,560 | ||
19-Apr | Prepaid Insurance | 6,000 | ||
22-Apr | Accounts Receivable | 7,360 | ||
28-Apr | Dividend | 6,200 | ||
30-Apr | Utilities Expense | 700 | ||
Ending balance | 87,700 | |||
TOTAL | 124,360 | TOTAL | 124,360 | |
Common Stock | ||||
Date | Account's tittle | Debit $ | Account's tittle | Credit $ |
1-Apr | Cash | 115,000 | ||
1-Apr | Office Supplies | 27,600 | ||
30-Apr | Ending balance | 142,600 | ||
TOTAL | 142,600 | TOTAL | 142,600 | |
Office Equipment | ||||
Date | Account's tittle | Debit $ | Account's tittle | Credit $ |
1-Apr | Common Stock | 27,600 | ||
3-Apr | Accounts Payable | 13,800 | ||
30-Apr | Ending balance | 41,400 | ||
TOTAL | 41,400 | TOTAL | 41,400 | |
Office Supplies | ||||
Date | Account's tittle | Debit $ | Account's tittle | Credit $ |
3-Apr | Accounts Payable | 2,760 | ||
29-Apr | Accounts Payable | 920 | ||
30-Apr | Ending balance | 3,680 | ||
TOTAL | 3,680 | TOTAL | 3,680 | |
Prepaid Rent | ||||
Date | Account's tittle | Debit $ | Account's tittle | Credit $ |
2-Apr | Cash | 7,200 | ||
30-Apr | Ending balance | 7,200 | ||
TOTAL | 7,200 | TOTAL | 7,200 | |
Prepaid Insurance | ||||
Date | Account's tittle | Debit $ | Account's tittle | Credit $ |
19-Apr | Cash | 6,000 | ||
30-Apr | Ending balance | 6,000 | ||
TOTAL | 6,000 | TOTAL | 6,000 | |
Accounts Receivable | ||||
Date | Account's tittle | Debit $ | Account's tittle | Credit $ |
9-Apr | Service Revenue | 9,200 | ||
22-Apr | Cash | 7,360 | ||
25-Apr | Service Revenue | 2,640 | ||
30-Apr | Ending balance | 4,480 | ||
TOTAL | 11,840 | TOTAL | 11,840 | |
Accounts Payable | ||||
Date | Account's tittle | Debit $ | Account's tittle | Credit $ |
3-Apr | Office Equipment | 13,800 | ||
3-Apr | Office Supplies | 2,760 | ||
13-Apr | Cash | 16,560 | ||
29-Apr | Office Supplies | 920 | ||
30-Apr | Ending balance | 920 | ||
TOTAL | 17,480 | TOTAL | 17,480 | |
Service Revenue | ||||
Date | Account's tittle | Debit $ | Account's tittle | Credit $ |
6-Apr | Cash | 2,000 | ||
9-Apr | Accounts Receivable | 9,200 | ||
25-Apr | Accounts Receivable | 2,640 | ||
30-Apr | Ending balance | 13,840 | ||
TOTAL | 13,840 | TOTAL | 13,840 | |
Dividends | ||||
Date | Account's tittle | Debit $ | Account's tittle | Credit $ |
28-Apr | Cash | 6,200 | ||
30-Apr | Ending balance | 6,200 | ||
TOTAL | 6,200 | TOTAL | 6,200 | |
Utilities Expense | ||||
Date | Account's tittle | Debit $ | Account's tittle | Credit $ |
30-Apr | Cash | 700 | ||
30-Apr | Ending balance | 700 | ||
TOTAL | 700 | TOTAL | 700 |
LINKWORKS | |||
Trial Balance | |||
30-Apr | |||
Account's tittle | Debit $ | Credit $ | |
1 | Cash | 87,700 | |
2 | Office Equipment | 41,400 | |
3 | Office Supplies | 3,680 | |
4 | Prepaid Rent | 7,200 | |
5 | Prepaid Insurance | 6,000 | |
6 | Accounts Receivable | 4,480 | |
7 | Accounts Payable | 920 | |
8 | Common Stock | 142,600 | |
9 | Service Revenue | 13,840 | |
10 | Utilities Expense | 700 | |
11 | Dividends | 6,200 | |
TOTAL | 157,360 | 157,360 |
Problem 2-1A Preparing and posting journal entries; preparing a trial balance LO C3, C4, A1, P1,...
Problem 2-3A Preparing and posting journal entries; preparing a trial balance LO C3, C4, A1, P1, P2 Denzel Brooks opened a Web consulting business called Venture Consultants and completes the following transactions in March. March 1 Brooks invested $185,000 cash along with $29,000 n office equipment in the company in exchange for common stock. 2 The company prepaid $7,000 cash for six months' rent for an office. (Hint: Debit Prepaid Rent for $7,000.) 3 The company made credit purchases of...
Problem 2-1A Preparing and posting Journal entries; preparing a trial balance LO C3, C4, A1, P1, P2 operations. Karla Tanner opens a Web consulung business called Linkworks and completed the following transactions in its first month of April 1 Tanner invested $90,000 cash along with office equipment valued at $21,600 in the company. 2 The company prepaid $7,200 cash for 12 months' rent for office space. Hint: Debit Prepaid Rent for $7.200. The company made credit purchases for $10,000 in...
Problem 2-1A Preparing and posting journal entries; preparing a trial balance LO C3, C4, A1, P1, P2Karla Tanner opens a Web consulting business called Linkworks and completes the following transactions in its first month of operations.April 1 Tanner invested $ 100,000 cash along with office equipment valued at $ 24,000 n the company in exchange for common stock.2. The company prepaid $ 7,200 cash for 12 months" rent for office space. (Hint: Debit Prepaid Rent for $ 7,200 .)3 The...
Problem 2-3A Preparing and posting journal entries; preparing a trial balance LO C3, C4, A1, P1, P2Denzel Brooks opened a Web consulting business called Venture Consultants and completed the following transactions in March.March 1 Brooks invested $ 150,000 cash along with $ 22,000 in office equipment in the company in exchange for commonstock.2 The company prepaid $ 6,000 cash for six months' rent for an office. (Hint: Debit Prepaid Rent for $ 6,000 .)3 The company made credit purchases of...
Problem 2-3A Preparing and posting journal entries; preparing a trial balance LO C3, C4, A1, P1, P2 Denzel Brooks opened a Web consulting business called Venture Consultants and completes the following transactions in March. March 1 Brooks invested $170,000 cash along with $20,000 n office equipment in the company in exchange for common stock. 2 The company prepaid $8,000 cash for six months' rent for an office. (Hint: Debit Prepaid Rent for $8,000.) 3 The company made credit purchases of...
Problem 2-3A Preparing and posting journal entries; preparing a trial balance LO C3, C4, A1, P1, P2Denzel Brooks opened a Web consulting business called Venture Consultants and completed the following transactions in March.March 1 Brooks invested $ 150,000 cash along with $ 22,000 in office equipment in the company in exchange for commonstock.2 The company prepaid $ 6,000 cash for six months' rent for an office. (Hint: Debit Prepaid Rent for $ 6,000 .)3 the company made credit purchases of...
Problem 2-3A Preparing and posting journal entries; preparing a trial balance LO C3, C4, A1, P1, P2 Denzel Brooks opened a Web consulting business called Venture Consultants and completed the following transactions in March. March 1 Brooks invested $155,000 cash along with $30,000 in office equipment in the company. 2 The company prepaid $7,000 cash for six months' rent for an office. Hint Debit Prepaid Rent for $7,000. 3 The company made credit purchases of office equipment for $4,300 and...
Problem 2-2A Preparing and posting journal entries; preparing a trial balance LO C3, C4, A1, P1, P2 Aracel Engineering completed the following transactions in the month of June a. Jenna Aracel, the owner, invested $100,000 cash, office equipment with a value of $5,000, and $60,000 of drafting equipment to launch the company in exchange for common stock b. The company purchased land worth $49,000 for an office by paying $6,300 cash and signing a long-term note payable for $42,700 c....
Problem 2-2A Preparing and posting journal entries; preparing a trial balance LO C3, C4, A1, P1, P2Aracel Engineering completed the following transactions in the month of June.a. Jenna Aracel, the owner, invested $ 100,000 cash, office equipment with a value of $ 5,000, and $ 60,000 of drafting equipment to launch the company in exchange for common stock.b. The company purchased land worth $ 49,000 for an office by paying $ 6,300 cash and signing a long-term note payable for...
Karla Tanner opened a Web consulting business called Linkworks and completed the following transactions in its first month of operations April 1 Tanner invested $110,000 cash along with office equipment valued at $26, 480 in the company in exchange for common stock. 2 The company prepaid $7,200 cash for 12 months' rent for office space. Mint: Debit Prepaid Rent for $7,200. 3 The company made credit purchases for $13,209 in office equipment and $2,640 in office supplies. Payment is due...