Prepare journal entries to record the June transactions in the General Journal b
ID: 2375879 • Letter: P
Question
Prepare journal entries to record the June transactions in the General Journal below. General Journal Date Description(Account Name) Debit Credit 1-Jun Cash $10,000 Accounts Receivable $1,500 Supplies $1,250 Office Equipement $7,500 Dustin Larkin, Capital $20,250 1-Jun Pre-Paid Rent $4,500 Cash $4,500 2-Jun Prepaid Insurance $1,800 Cash $1,800 4-Jun Cash $3,000 Unearned Fees $3,000 5-Jun Office Equipment $1,800 Accounts Payable $1,800 6-Jun Cash $800 Accounts Receivable $800 10-Jun Miscellaneous Expense $120 Cash $120 12-Jun Accounts Payable $800 Cash $800 12-Jun Accounts Receivable $2,250 Fees Earned $2,250 14-Jun Salary Expense $400 Cash $400 17-Jun Cash $3,175 Fees Earned $3,175 18-Jun Supplies $750 Cash $750 20-Jun Accounts Receivable $1,100 Fees Earned $1,100 24-Jun Cash $1,850 Fees Earned $1,850 26-Jun Cash $1,600 Accounts Receivable $1,600 27-Jun Salaries expenses $400 Cash $400 29-Jun Miscellaneous expenses $130 Cash $130 30-Jun Miscellaneous expenses $200 Cash $200 30-Jun Cash $2,050 Fees earned $2,050 30-Jun Accounts Receivable $1,000 Fees Earned $1,000 30-Jun Dustin Larkin, Drawings $4,500 Cash $4,500 $52,475 $52,475 Note: Remember that Debits must equal Credits - All of your Journal Entries should balance.Need help with problems below:
1.Please prepare the adjusting entries A-F
a. Insurance expired during Junes is $150
b.Supplies on hand on June 30 are $1,020
c. Depreciation of office equipment for June is $500
d. Accrued receptionist salart on June 30 is $120
e. Rent expired during June is $1,500
f. Unearned fees on June 30 are $2,000
2. Prepare an income statement, a statment of owners equity , and a balance sheet
3. Journalize and post the adjusting entries
4. Journalize and post the closing entries. (income summary is account #33 in the chart of accounts)
5. Prepare a post-closing trial balance
Prepare journal entries to record the June transactions in the General Journal below. General Journal Date Description(Account Name) Debit Credit 1-Jun Cash $10,000 Accounts Receivable $1,500 Supplies $1,250 Office Equipement $7,500 Dustin Larkin, Capital $20,250 1-Jun Pre-Paid Rent $4,500 Cash $4,500 2-Jun Prepaid Insurance $1,800 Cash $1,800 4-Jun Cash $3,000 Unearned Fees $3,000 5-Jun Office Equipment $1,800 Accounts Payable $1,800 6-Jun Cash $800 Accounts Receivable $800 10-Jun Miscellaneous Expense $120 Cash $120 12-Jun Accounts Payable $800 Cash $800 12-Jun Accounts Receivable $2,250 Fees Earned $2,250 14-Jun Salary Expense $400 Cash $400 17-Jun Cash $3,175 Fees Earned $3,175 18-Jun Supplies $750 Cash $750 20-Jun Accounts Receivable $1,100 Fees Earned $1,100 24-Jun Cash $1,850 Fees Earned $1,850 26-Jun Cash $1,600 Accounts Receivable $1,600 27-Jun Salaries expenses $400 Cash $400 29-Jun Miscellaneous expenses $130 Cash $130 30-Jun Miscellaneous expenses $200 Cash $200 30-Jun Cash $2,050 Fees earned $2,050 30-Jun Accounts Receivable $1,000 Fees Earned $1,000 30-Jun Dustin Larkin, Drawings $4,500 Cash $4,500 $52,475 $52,475 Note: Remember that Debits must equal Credits - All of your Journal Entries should balance.
Need help with problems below:
1.Please prepare the adjusting entries A-F
a. Insurance expired during Junes is $150
b.Supplies on hand on June 30 are $1,020
c. Depreciation of office equipment for June is $500
d. Accrued receptionist salart on June 30 is $120
e. Rent expired during June is $1,500
f. Unearned fees on June 30 are $2,000
2. Prepare an income statement, a statment of owners equity , and a balance sheet
3. Journalize and post the adjusting entries
4. Journalize and post the closing entries. (income summary is account #33 in the chart of accounts)
5. Prepare a post-closing trial balance
Explanation / Answer
(a)
Dr Insurance expenses $150
Cr Prepaid insurance $150
(b)
Dr Supplies expense $230
Cr Supplies $230
(c)
Dr Depreciation expense $500
Cr Accumulated Depreciation $500
(d)
Dr Salary Expenses $120
Cr Accrued Salaries $120
(e)
Dr Rent Expense $1500
Cr Prepaid Rent $1500
(f)
Dr Fees earned $2000
Cr Unearned Fee $2000