Prepare journal entries to record the June transactions in the General Journal b
ID: 2375923 • 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
PLEASE GIVE ANSWER TO #"S 3, 4 and 5.
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
PLEASE GIVE ANSWER TO #"S 3, 4 and 5.
Explanation / Answer
Heres an exapmle that might help you
The following table shows the journal entries for the above events.
Date Transaction Jan 2 An amount of $36,000 was paid as advance rent for three months. Jan 3 Paid $60,000 cash on the purchase of equipment costing $80,000. The remaining amount was recognized as a one year note payable with interest rate of 9%. Jan 4 Purchased office supplies costing $17,600 on account. Jan 13 Provided services to its customers and received $28,500 in cash. Jan 13 Paid the accounts payable on the office supplies purchased on January 4. Jan 14 Paid wages to its employees for first two weeks of January, aggregating $19,100. Jan 18 Provided $54,100 worth of services to its customers. They paid $32,900 and promised to pay the remaining amount. Jan 23 Received $15,300 from customers for the services provided on January 18. Jan 25 Received $4,000 as an advance payment from customers. Jan 26 Purchased office supplies costing $5,200 on account. Jan 28 Paid wages to its employees for the third and fourth week of January: $19,100. Jan 31 Paid $5,000 as dividends. Jan 31 Received electricity bill of $2,470. Jan 31 Received telephone bill of $1,494. Jan 31 Miscellaneous expenses paid during the month totaled $3,470