Journal entries are as prepared below:
Date | Particulars | L.F | Debit | Credit |
Jan-01 | Cash | 28,000 | ||
Owner's Capital | 28,000 | |||
Jan-01 | Prepaid Insurance | 3,600 | ||
Cash | 3,600 | |||
Jan-03 | Van | 19,200 | ||
Cash | 19,200 | |||
Jan-05 | Cleaning Supplies | 2,700 | ||
Accounts Payable | 2,700 | |||
Jan-11 | Accounts Receivable | 7,500 | ||
Service Revenue | 7,500 | |||
Jan-17 | Accounts Payable | 1,500 | ||
Cash | 1,500 | |||
Jan-20 | Salaries Expense | 3,600 | ||
Cash | 3,600 | |||
Jan-22 | Cash | 4,200 | ||
Account Receivable | 4,200 | |||
Jan-24 | Cash | 4,000 | ||
Service Revenue | 4,000 | |||
Jan-29 | Petrol Expenses | 800 | ||
Cash | 800 | |||
Jan-30 | Dividend | 1,800 | ||
Cash | 1,800 | |||
Jan-31 | Depreciation Expense | 400 | ||
Accumulated dep (19,200/4)*1/12 | 400 | |||
Jan-31 | Insurance Expense (3,600/12) | 300 | ||
Prepaid Insurance | 300 | |||
Jan-31 | Cleaning Supplies Expense | 900 | ||
Cleaning Supplies | 900 | |||
Jan-31 | Salaries Expense | 1,200 | ||
Salaries Payable | 1,200 | |||
Shiny Cleaners Limited commenced its business on 1st January 2019. Using journal entries, record the accounting...
(1) Prepare journal entr the chart of acco pare journal entries to record the October 2019 transactions listed on the following page hart of accounts for the appropriate account titles to use). Prepare a sepa ach transaction and leave a space after each entry! Check fiqure: Total debits - account titles to use). Prepare a separate journal entry for check figure: Total debits = $112,705. OPTIONAL: Post the journal entries to the T-accounts and calculate the account balances. unadjusted trial...
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Speedy Cleaning Service began its operations on December 1, 2019. The following transactions took place during its first month of operations. The company uses the calendar year as its reporting period. During December, the company completed the following transactions. Summary of Transactions: Dec. 1 Stockholders invested $14,000 cash in the business in exchange for common stock. Dec. 2 Purchased a used truck for $10,000, paying $3,000 cash and the balance on account Dec. 3 Dec. 5 Dec. 12 Purchased cleaning...
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Speedy Cleaning Service began its operations on December 1, 2019. The following transactions took place during its first month of operations. The company uses the calendar year as its reporting period. During December, the company completed the following transactions. Summary of Transactions: Dec. 1 Stockholders invested $14,000 cash in the business in exchange for common stock. Dec. 2 Purchased a used truck for $10,000, paying $3,000 cash and the balance on account Dec. 3 Dec. 5 Dec. 12 Purchased cleaning...
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