Question

This time I have three requirement

1.Make a journal

2. Create a Ledger

3. Build a Trial Balance

Problem 2-3B Preparing General Journal entries LO3,5,6 Susan Hurley, Public Accountant, completed these activities during September 2021, the first month of operations: Sept. 1 1 2 4 8 10 14 15 18 20 24 28 29 30 Began a public accounting practice by investing $20,000 in cash and office equipment having a $9,200 fair value. Prepaid two months' rent in advance on suitable office space, $5,600. Purchased on credit used office equipment, $3,800, and office supplies, $1,380. Completed accounting work for a client and immediately received payment of $2,900 cash. Completed accounting work on credit for Frontier Bank, $5,080. Paid for the items purchased on credit on September 2. Paid the annual $3,300 premium on an insurance policy. Paid $1,250 to attend an all-day seminar on September 20 regarding ethical accounting practices. Received payment in full from Frontier Bank for the work completed on September 8. Attended the seminar paid for on September 15. Completed accounting work on credit for Travis Realty, $5,000. Hurley withdrew $2,500 cash from the practice to pay personal expenses. Purchased additional office supplies on credit, $450. Paid the September utility bills, $1,750. Required Prepare General Journal entries to record the transactions.

Answer 1

Susan Hurley P.R. Journal Enteries Date Particulars 1.9.2021 Cash Office Equipment Susan Hurley, Capital (Capital Invested) Debit in $ Credit in $ 20000 9200 29200 Date Explanation 1.9.2021 Susan Hurley, Capital 4.9.2021 Service Revenue 18.9.2021 Accounts Receivable Cash Debit in $ Date Explanation 20000 1.9.2021 Prepaid Rent 2900 10.9.2021 Accounts Payable 5080 14.9.2021 Prepaid Insurance 15.9.2021 Training Expense 28.9.2021 Susan Hurley, Withdrawals 30.9.2021 Utility Expense 30.9.2021 Bal 27980 P.R. Credit in $ 5600 5180 3300 1250 2500 1750 8400 27980 5600 1.9.2021 Prepaid Rent Cash (2 months rent) 5600 27980 3800 1380 P.R. P.R. Credit in $ 2.9.2021 Office Equipment Office Supplies Accounts Payable (Assets on account) 5180 Date Explanation 1.9.2021 Susan Hurley, Capital 2.9.2021 Accounts Payable Office Equipment Debit in $ Date Explanation 9200 3800 30.9.2021 Bal 13000 13000 13000 2900 4.9.2021 Cash Service Revenue (Services provided) 2900 P.R. P.R. Credit in Date 1.9.2021 Explanation Cash Prepaid Rent Debit in $ Date Explanation 5600 30.9.2021 Bal 5600 5600 5080 5600 8.9.2021 Accounts Receivable Service Revenue (Service provided) 5080 P.R. Date Explanation 2.9.2021 Accounts Payable Office Supplies Debit in $ Date Explanation 1380 30.9.2021 Bal 1380 5180 10.9.2021 Accounts Payable Cash (Creditors purchased) P.R. Credit in $ 1380 1380 5180 3300 Date Explanation P.R. 14.9.2021 Prepaid Insurance Cash ( 12 month insurance) 3300 Service Revenue Debit in $ Date Explanation 4.9.2021 Cash 8.9.2021 Accounts Receivable 12980 24.9.2021 Accounts Receivable 12980 P.R. Credit in 2900 5080 5000 12980 30.9.2021 Bal 1250 15.9.2021 Training Expense Cash (Expense paid) 1250 P.R. 5080 18.9.2021 Cash Accounts Receivable (Cash from debtors) Date Explanation 8.9.2021 Service Revenue 24.9.2021 Accounts Receivable Accounts Receivable Debit in $ Date Explanation 5080 18.9.2021 Cash 5000 30.9.2021 Bal 10080 P.R. Credit in 5080 5000 10080 5080 20.9.2021 No Entry P.R. Date Explanation 10.9.2021 Cash 5000 24.9.2021 Accounts Receivable Service Revenue (Service provided) Accounts Payable Debit in $ Date Explanation 5180 2.9.2021 Office Equipment Office Supplies 450 29.9.2021 Office Supplies 5630 5000 P.R. Credit in 3800 1380 450 5630 30.9.2021 Bal 2500 28.9.2021 Susan Hurley, Withdrawals Cash (Cash drawn for personal use) 2500 P.R. Date Explanation 14.9.2021 Cash Prepaid Insurance Debit in $ Date Explanation 3300 30.9.2021 Bal 3300 P.R. Credit in s 3300 3300 450 29.9.2021 Office Supplies Accounts Payable (Supplies on account) 450 P.R. Date Explanation 15.9.2021 Cash Training Expense Debit in $ Date Explanation 1250 30.9.2021 Bal 1250 1750 30.9.2021 Utility Expense Cash (Expense paid) P.R. Credit in $ 1250 1250 1750 P.R. Date Explanation 28.9.2021 Cash Susan Hurley, Withdrawals Debit in $ Date Explanation 2500 30.9.2021 Bal 2500 P.R. Credit in $ 2500 2500 P.R. Date Explanation 29.9.2021 Accounts Payable Office Supplies Debit in $ Date Explanation 450 30.9.2021 Bal 450 P.R. Credit in $ 450 450 P.R. Date Explanation 30.9.2021 Cash Utility Expense Debit in $ Date Explanation 1750 30.9.2021 Bal 1750 P.R. Credit in $ 1750 1750 Date Explanation P.R. Susan Hurley, Capital Debit in $ Date Explanation 1.9.2021 Cash 29200 Office Equipment 29200 P.R. Credit in s 20000 9200 29200 30.9.2021 Bal

Trial Balance For the period ending 30.9.2021 Particulars Cash Accounts Receivable Office Equipment Office Supplies Prepaid Insurance Prepaid Rent Office Equipment Accounts Payable Susan Hurley, Capital Susan Hurley, Withdrawals Service Revenue Training Expense Utility Expense Totals Debit in $ Credit in s 8400 5000 13000 1830 3300 5600 450 29200 2500 12980 1250 1750 42630 42630