Grouper Computer Consultants | |||||
Journal entries | |||||
No. | Date | Account Titles & Explanation | Debit | Credit | Calculation |
1-Jul | Equipment | 20,400 | |||
Cash | 3,200 | ||||
Notes Payable | 17,200 | ||||
2-Jul | Cash | 43,000 | |||
Common Stock | 43,000 | ||||
3-Jul | Prepaid Insurance | 3,000 | |||
Cash | 3,000 | ||||
3-Jul | Prepaid Rent | 6,800 | =3,400*2 | ||
Cash | 6,800 | ||||
6-Jul | Supplies | 3,300 | |||
Cash | 3,300 | ||||
9-Jul | No entry | ||||
10-Jul | Cash | 1,030 | |||
Accounts Receivable | 1,030 | ||||
13-Jul | Unearned Service Revenue | 960 | |||
Service Revenue | 960 | ||||
14-Jul | Accounts Payable | 340 | |||
Cash | 340 | ||||
16-Jul | Cash | 10,300 | |||
Unearned Service Revenue | 10,300 | ||||
18-Jul | Salaries & wages expense | 9,500 | |||
Cash | 9,500 | ||||
20-Jul | Accounts Receivable | 24,100 | |||
Service Revenue | 24,100 | ||||
20-Jul | Advertising expense | 1,900 | |||
Accounts Payable | 1,900 | ||||
23-Jul | Unearned Service Revenue | 8,600 | |||
Service Revenue | 8,600 | ||||
27-Jul | Cash | 12,900 | |||
Accounts Receivable | 12,900 | ||||
Adjusting entries | |||||
1 | 31-Jul | Insurance expense | 250 | =3,000/12 | |
Prepaid Insurance | 250 | ||||
2 | 31-Jul | Rent expense | 3,400 | ||
Prepaid Rent | 3,400 | ||||
3 | 31-Jul | Supplies expense | 1,100 | ||
Supplies | 1,100 | ||||
4 | 31-Jul | Depreciation expense | 425 | ||
Accumulated Depreciation-Equipment | 425 | ||||
5 | 31-Jul | Interest expense | 86 | =17,200*6%*1/12 | |
Interest Payable | 86 | ||||
6 | 31-Jul | Salaries & Wages expense | 9,500 | ||
Salaries & Wages Payable | 9,500 | ||||
7 | 31-Jul | Utilities expense | 690 | ||
Accounts Payable | 690 | ||||
8 | 31-Jul | Income tax expense | 1,030 | ||
Income tax Payable | 1,030 | ||||
Clsoing entries | |||||
1 | 31-Jul | Service Revenue | 33,660 | ||
Income Summary | 33,660 | ||||
2 | 31-Jul | Income Summary | 27,881 | ||
Salaries & wages expense | 19,000 | ||||
Rent expense | 3,400 | ||||
Advertising expense | 1,900 | ||||
Supplies expense | 1,100 | ||||
Utilities expense | 690 | ||||
Depreciation expense | 425 | ||||
Insurance expense | 250 | ||||
Interest expense | 86 | ||||
Income tax expense | 1,030 | ||||
3 | 31-Jul | Income Summary | 5,779 | =33,660-27,881 | |
Retained Earnings | 5,779 |
Current Attempt in Progress At June 30, 2022. the end of its most recent fiscal year,...
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