Question

QuickBooks - Assignment 1 9. The following transactions take place in March: Day Description Source 1 Paula Pollack's initial investment (found on page 1) Chq 1345 | Purchased cameras and photographic equipment for cash from Kodak $10,000 (Plus HST). Paula took portraits of 25 kindergarten children at Little Steps Primary School; 15 purchased the Basic Portrait Package and 10 purchased the Supersaver Portrait Package. Paula received payment in full. سا Sales Receipt 1 Create Deposit Paid rent on studio to Judy-Joe Real Estate for one month $1250 (plus GST) Chq 1346 Bought photographic materials from photographic Suppliers $2300 (Plus HST) Chq1347 Chq1348 Paid Kwik Print for Advertising Brochures to be printed $4,200 (Plus HST) Paula took school photos at Port Peter Primary School; 75 students purchase the Basic Portrait Package and 15 purchased the Supersaver Portrait Package. Paula received payment in full. Sales receipt 2 Make deposit Chq 1349 Paid for Gas $ 70 (Plus HST) at the Esso station Inv E 444 Bought photographic equipment on credit from Eastman Ltd $5,000 (Plus HST) Terms Net 30 Cha 1350 Paid Registration and Insurance on Motor Vehicle to Vic "Roads $420 (plus HST) Paid for six months insurance on equipment $300 to Norfolk Union Insurance. Expense one month's Insurance and set up other five months in Prepaid Insurance. Chq 1351 Chg 1352 12 Paula drew $500 cash for her own use Page 3 of 4

i need the journal entry

Answer 1

sl. No	particulars	particulars	Amount (in $)	Amount (in $)
1	Investment A/c       dr…..		xxx
		To bank A/c    cr….		xxx
	(To investment made )
2	Equipments A/c     dr….		10000
		To Cash A/c….		10000
	(to photographic camera purchased)
3	Cash A/c    dr….		xxx
		To Sales A/c….		xxx
	(to sales receipt 1)
3	Invetsment     A/c    dr……		xxx
		To Cash A/c….		xxx
	(to deposit made )
4	Rent A/c     dr….		1250
		To Cash A/c …		1250
	(To rent paid to Judy for one month)
4	purchase A/c   dr….		2300
		To Cash A/c…		2300
	(to material purchased from photographic supplier)
5	Advertisement A/c   dr….		4200
		To Cash A/c …		4200
	(to paid for advertisemnt brochures )
6	cash   A/c     dr…..		xxx
		To Sales A/c….		xxx
	( to sales made for 75 packages of basic potrait &15 for supersaver potrait package)
7	Investment   A/c     dr…..		xxx
		To Cash A/c….		xxx
	(to deposit made)
7	Expense   A/c    dr….		70
		To Cash A/c ….		70
	( to paid for gas At ESSo station)
7	Equipment A/c     dr….		5000
		To Eastman Ltd.		5000
	(to photographic equipment purchased on credit for 30 days )
8	insurance on motor vehicle A/c      dr……		420
		To Cash A/c…..		420
	(to paid for registration & insurance on motor vehicle)
11	insurance on equipment A/c    dr…..		50
	prepaid insurance on equpiment A/c …dr		250
		To Cash A/c		300
	(to paid fro 1 month of insurance expense rest, paid for next 5 months which is booked as prepaid insurance)
12	Drawings    A/c …   dr…		500
		To Cash A/c…		500
	(to cash withdrwan for personal use)