Question

May 1 Matt contributed land on the river worth $250,000 and a small building to use as a rental office worth $80,000 in exchange for 20,000 shares of $2 par value common stock. (Credit Common stock $40,000, and Paid In Capital in Excess of Par $290,000.) 1 Prepaid $4,800 for four months' rent on beach space. 2 Purchased additional kayaks by signing a note payable for $7,700. 2 Received $250 electric bill from Virginia Power. 4 Bought office supplies on account for $260. 4 Rented kayaks to school group for $1,800, but will be paid next month. 5 Received $1,900 cash for kayak rental to customers. 7 Purchased paddle boards for $3,600 on account. 8 Received payment from Brock Environmental Center for April 30 rental. 8 Received $3,750 cash for kayak and paddle board rentals to customers. 8 Paid $4,800 for a two year insurance policy that began April 1. 9 Received $850 cash for paddle board rentals. 11 Received a $1,500 deposit from the Botanical Gardens for a sunset paddle board tour scheduled for June 7. 11 Paid Virginia Power for bill dated April 16. 15 Paid Katie for hours worked, $1,200. 16 Paid $5,000 balance on April 3 purchase. 18 Paid $600 on account for purchase of office supplies. 20 Paid local newspaper $300 for ad for May.

can you help me turn these into a general journal

Answer 1

General Joumal Date Description Debit Credit $ 2,50,000 $ 80,000 May-01 Land building Common Stock Paid in capital in excess of par (being land & building contributed in excahnge of stock) $ 40,000 $ 2,90,000 $ 4,800 May-01 Prepaid Rent Cash (being prepaid rent paid) $ 4,800 $ 7,700 May-02 Inventory-kayak Notes Payable (being inventory purchased) $ 7,700 $ 250 250 May-02 Electicity expenses Accounts Payable (being electricity expenses recorded) $ 260 May-04 Office supplies Accounts Payable (being office supplies purchased) 260 S 1,800 May-04 Accounts receivable Rental income (being rental income booked) $ 1,800 $ 1,900 May-05 Cash Rental income (being rental income booked) $ 1,900 $ 3,600 May-07 Inventory-Paddle boards Accounts Payable (being inventory purchased) $ 3,600 $ 3,750 May-08 Cash Rental income (being rental income booked) $ 3,750 $ 8,400 May-08 Prepaid Insurance Cash (being insurance paid) S 8,400 850 May-09 Cash Rental income (being rental income booked) 850 $ 1,500 May-11 Cash Security Deposit (being deposit received) $ 1,500 $ 250 May-11 Accounts payable Cash (being electicity expenses paid) $ 250 $ 1,200 May-15 Salaries & wages cash (Being salaries & wages paid) $ 1,200 $ 5,000 May-16 Accounts payable Cash (being cash paid to supplier for April 3 purchases) $ 5,000 600 May-18 Accounts payable Cash (being cash paid for office supplies) $ 600 $ 300 300 May-20 Advertising expenses cash (being advertising expenses paid) $ 2,700 May-21 Accounts receivable Rental income (being rental income booked) $ 2,700 980 May-22 Cash Rental income (being rental income booked) $ 980 S 180 May-26 Telephone expenses Cash (being phone expenses paid) $ 180 $ 3,600 May-28 Accounts payable Cash (being cash paid to supplier for May 7 purchases) $ 3,600 $ 6,800 May-28 Cash Rental Income (being rental income booked) $ 6,800 $ 1,100 May-29 Notes payable Cash (being cash paid against note payable) $ 1,100 $ 1,380 May-31 Salaries & wages cash (Being salaries & wages paid) $ 1,380