NO | Accounts Titles | Debit | Credit |
1) | Cash | $ 41,000 | |
Owner's capital | $ 41,000 | ||
( To record jay bradford invested cash in business) | |||
2) | No entry | ||
No entry | |||
( To hire 2 employees to work in warehouse ) | |||
3) | Prepaid rent | $ 25,000 | |
Cash | $ 25,000 | ||
( To record Rent paid in advance for warehouse) | |||
4) | Equipment | $ 30,000 | |
Cash | $ 12,000 | ||
Accounts payable(30,000 -12,000) | $ 18,000 | ||
(To record purchase of furniture and equipment) | |||
5) | Prepaid insurance | $ 2,000 | |
Cash | $ 2,000 | ||
(To record prepaid insurance for 1 year ) | |||
6) | Supplies | $ 600 | |
Cash | $ 600 | ||
( To record purchase basic supplies for 600 ) | |||
7) | Supplies | $ 1,300 | |
Accounts payable | $ 1,300 | ||
( To record purchase more supplies for credit ) | |||
8) | Accounts receivable | $ 11,000 | |
Cash | $ 7,000 | ||
Service revenue | $ 18,000 | ||
( To record total revenue earned ) | |||
9) | Accounts payable | $ 300 | |
Cash | $ 300 | ||
(To record paid to supplier for account payable due ) | |||
10) | Cash | $ 3,300 | |
Accounts receivable | $ 3,300 | ||
( to record cash received from customers in payment of accounts receivable ) | |||
11) | Utilities expense | $ 500 | |
Accounts payable | $ 500 | ||
(to record utilities expense ) | |||
12) | Salaries and wages expense | $ 5,800 | |
Cash | $ 5,800 | ||
( To record salaries paid to 2 employees) |
CASH | |||
1) | $ 41,000 | 3) | $ 25,000 |
8) | $ 7,000 | 4) | $ 12,000 |
10) | $ 3,300 | 5) | $ 2,000 |
6) | $ 600 | ||
9) | $ 300 | ||
12) | $ 5,800 | ||
End.Bal. | $ 5,600 | ||
Accounts Receivable | |||
8) | $ 11,000 | 10) | $ 3,300 |
End.Bal. | $ 7,700 | ||
Supplies | |||
6) | $ 600 | ||
7) | $ 1,300 | ||
End.Bal. | $ 1,900 | ||
Prepaid insurance | |||
5) | $ 2,000 | ||
End.Bal. | $ 2,000 | ||
Prepaid Rent | |||
3) | $ 25,000 | ||
End.Bal. | $ 25,000 | ||
Equipment | |||
4) | $ 30,000 | ||
End.Bal. | $ 30,000 | ||
Accounts payable | |||
9) | $ 300 | 4) | $ 18,000 |
7) | $ 1,300 | ||
11) | $ 500 | ||
End.Bal. | $ 19,500 | ||
Owner's Capital | |||
1) | $ 41,000 | ||
End.Bal. | $ 41,000 | ||
Service Revenue | |||
8) | $ 18,000 | ||
End.Bal. | $ 18,000 | ||
Salaries and Wages expense | |||
12) | $ 5,800 | ||
End.Bal. | $ 5,800 | ||
Utilities Expense | |||
11) | $ 500 | ||
End.Bal. | $ 500 |
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