Question

How do you write a journal entry? Back to Sheila's Johnson Consulting Dan Sheila finds an investor to give her 350,000 to start her Consulting practice Dan s heps1,000 to rent office space Jan. She purchases a ptop and printer for $2.000 account ana she performs contingervices for cash - $1.500 Jan 10 pe borrow $700 cash from bark on a 2-year note peable. Jan 14 she performservices on account - $2.000 Jan. 18 She pays monthy telephone expense 1800 Jan 24 She collects $1.000 from client from Jan. 14 above Jan. 30 she pays a $1,000 dividend to the investor Date Account Name

Answer 1

Day (005-360) Week 2 20 Requirement: Journal entries. Day (05.300) - Journal entries in the Books - of sheila. - Particulars Debit Credit Ant Ant. Date Tom I Cash / Bank AlC Dr - To Investor Ale (Being capital Receired) 5000 - 50000 - Jan 3. Rent Alc - Dr 1000 - To cash I Bank - 1000 - (Being Reut paid) Jan 6 Laptop & Printer Alc- pr zow - - 2000 - To creditor (Being Asset purchase on I credit) un & Cash Mc - Br 1500 - - 500 - To Revenue Alc - Being Acame Booked) Jaulo Canh Aic - - or to 700 - - To Loan - 700 (being to an taken from Bank) Notes February F S S M T T W T M W T F S s

08 Tuesday Tuesday Day (003 an this case 1) Money Recived was a liability. Credit from invester Hence anuention 2) laptop hence and printer delited. are asset Nores

Week Week 2 Jan 30. Inneston's Alc - Dr 1000 - - To the endale - 1000 (Being sopividend paid) Jam 30- Dividend Ale pr 1000 . - to P&L Alc - 1000 dividend is paid through &L) Note: Pdl means profit and loss. Remeniker Accounting Rules * Credit what comes in and ! * Debit what goes out and * Credit the giver Debit the receiver * Credit all income & Gains Rebit all Expense & losses * Credit all liabilities Relif all Asset . Notes February