Question

Note: This assignment does not involve HST, similar to Photos Company. 1 Refer to Exercise 1-1b to unzip the 01 C1-1 Driving.exe file. The Driving School is a sole proprietorship business, owned by Tanya Gauci. You should record the some of these entries more efficiently in the RECEIVABLES and PAYABLES modules in Chapters 2A, following transactions in the General Journal (double-entry accounting). You will learn how to record 2 Open the 01 C1-1 Driving file 3 transactions 3.8204 Be in This business uses the Track Additional Transaction Details feature where necessary 3> Record and Post the following transactions in the General Journal for the month of January using the double-entry method. Jan 2 Purchased $80.00 worth of office supplies from Kanwal Supplies and issued cheque #652. Note that these supplies are assumed to be used up by the end of the month. Jan 2 Issued $80.00 invoice #324 to YOUR name (your name in the comment line) for 2 hours of driving lessons before your driving test. Cheque #113 received. Jan 3 Issued $600.00 cheque #653 to Uptown Mall for rent of a store in the mall. Jan 5 Issued $50.00 invoice #325 and received cheque #748 from Vito Campize for one-hour driving lesson ($40.00) and rule book test ($10.00) for his daughter. Jan 6 Issued $320.00 cheque #654 to Capilano Advertising for advertisements being delivered to homes in the area today. Jan 8 A new client, Naomi Regalea, took a 3-hour driving lesson. Received her $120.00 cheque #522 for invoice #326. Jan 9 Issued $120.00 cheque #655 to Morton Medina (driving teacher) for wages. Jan 11 Purchased 2 driving lesson DVDs at $75.00 each for use in the Beginners Driving Lesson course approved by the government. They will be used in the course starting tomorrow. Cheque #656 issued to Major Film Labs Jan 12 Record the $308.00 Bank Debit memo for a payment on the bank loan. This amount includes interest of $32.40. Jan 12 Beginners Driving Lessons course started today. Received $250.00 cash from customers and deposited $250.00 in the bank today.

Answer 1

Solution:

Date	Particulars	Amount ($)	Amount($)
Jan 2	office Supplies A/c Dr.	80
	To Bank A/c		80
	(For office Supplies Purchased and cheque issue)
Jan2	Drawings A/c Dr.	80
	To Bank A/c		80
	(For driving services used personally)
Jan3	Maintenance expenses on mall A/c Dr.	600
	To Bank A/c		600
	(for cheque issued for uptown of mall)
Jan5	Bank A/c Dr.	50
	To Vito Campize		50
	(For Cheque received from vito Campize)
Jan6	Advertisement A/c Dr.	320
	To Bank A/c		320
	(For cheque issued to Capilano Advertising)
Jan8	Bank A/c Dr.	120
	To Naomi Regalea		120
	(For cheque # 522 Received)
Jan9	Wages A/c Dr.	120
	To Bank A/c		120
	( For cheque #655 issued for wages)
Jan11	office supplies A/c (Driving DVD's)Dr.	150
	To Bank A/c		150
	(For DVD's Purchased and Cheque issued)
Jan 12	Bank Loan A/c Dr.	308
	To Bank A/c		308
	(For payment of Bank loan including Interest)
Jan12	Cash A/c Dr.	250
	To Customer		250
	(For cash Received From Customer)
	Bank A/c Dr.	250
	To Cash A/c		250
	(For Cash Deposited into Bank on same day)

Note: It is being assumed that all the cheque received is being deposited in bank on same day.