Question

Prepare Journal entries(1-39) with transactions and list of accounts given

Number Name 1110 Cash 1120 Accounts Receivable 1130 Prepaid Insurance 1140 Prepaid Rent 1150 Office Supplies 1211 Office Equip. 1212 Accum. Depr.-Office Equip. 1311 Computer Equip. 1312 Accum. Depr.-Computer Equip. 1411 Building Cost 1412 Accum. Depr.-Building 1510 Land 2101 Accounts Payable 2102 Advanced Payments 2103 Interest Payable 2105 Salaries Payable 2106 Income Taxes Payable 2201 Mortgage Payable 2202 Notes Payable 3100 Capital Stock 3200 Retained Earnings 3300 Dividends 3400 Income Summary 4100 Computer & Consulting Revenue 5010 Rent Expense 5020 Salary Expense 5030 Advertising Expense 5040 Repairs & Maint. Expense 5050 Oil & Gas Expense 5080 Supplies Expense 5090 Interest Expense 5100 Insurance Expense 5110 Depreciation Expense 5120 Income Tax Expense Normal Balance Debit Debit Debit Debit Debit Debit Credit Debit Credit Debit Credit Debit Credit Credit Credit Credit Credit Credit Credit Credit Credit Debit Credit Credit Debit Debit Debit Debit Debit Debit Debit Debit Debit Debit

Answer 1

In case there are more than 4 questions, only first 4 would be answered. Please find below the journal entry for first 4 transactions:-

Sl No	Date	Ledger Code	Ledger Name		Debit	Credit
1	1-Jun	1110	Cash	dr	$29,960
		1311	Computer Equip.	dr	$43,400
		3100	Capital Stock			($73,360)
			(Issued 2,620 shares to Jeremy against cash and computer equip.)
2	1-Jun	1110	Cash	dr	$43,400
		1311	Computer Equip.	dr	$15,120
		3100	Capital Stock			($58,520)
			(Issued 2,122 shares to Courtney against cash and computer equip.)
3	1-Jun	1110	Cash	dr	$78,400
		3100	Capital Stock			($78,400)
			(Issued 2,800 shares to Arynn Cooper against cash)
4	2-Jun	1311	Computer Equip.	dr	$145,000
		2201	Mortgage Payable			($116,000)
		1110	Cash			($29,000)
			(Down payment for computer equipment paid and purchase recorded)

It is assumed that the securities premium account is included in the capital stock ledger, if assumed otherwise only face value of shares would be credited to capital stock and balance to securities premium account.

Also it is assumed that the purchase of additional computer equipment was not recorded earlier.