Transactions
Birdy Consulting Services has the following accounts in its ledger: Cash; Accounts Receivable; Supplies; Office Equipment; Accounts Payable; B. J. Faust, Capital; B. J. Faust, Drawing; Fees Earned; Rent Expense; Advertising Expense; Utilities Expense; and Miscellaneous Expense.
Journalize the following selected transactions for January 20Y2 in a two-column journal. Journal entry explanations may be omitted. If an amount box does not require an entry, leave it blank.
DateTransactions
Jan. 1.Paid rent for the month, $4,200.
4.Paid advertising expense, $2,650.
5.Paid cash for supplies, $1,140.
6.Purchased office equipment on account, $17,400.
12.Received cash from customers on account, $5,690.
20.Paid creditor on account, $1,670.
27.Paid cash for miscellaneous expenses, $720.
30.Paid utility (heating) bill for the month, $270.
31.Fees earned and billed to customers for the month, $37,900.
31.Paid utility (electricity) bill for the month, $450.
31.Paid B. J. Faust cash for personal use, $2,900.
DateAccountDebitCredit
20Y2 Jan. 1Accounts PayableAccounts ReceivableCashRent ExpenseRent Payable
Accounts PayableAccounts ReceivableCashRent ExpenseRent Payable
Jan. 4Advertising ExpenseAdvertising PayableAdvertising RevenueB. J. Faust, DrawingCash
Advertising ExpenseAdvertising PayableAdvertising RevenueB. J. Faust, DrawingCash
Jan. 5Accounts PayableAccounts ReceivableCashSuppliesSupplies Revenue
Accounts PayableAccounts ReceivableCashSuppliesSupplies Revenue
Jan. 6Accounts PayableAccounts ReceivableCashOffice EquipmentOffice Equipment Expense
Accounts PayableAccounts ReceivableCashOffice EquipmentOffice Equipment Expense
Jan. 12Accounts PayableAccounts ReceivableCashFees EarnedFees Payable
Accounts PayableAccounts ReceivableCashFees EarnedFees Payable
Jan. 20Accounts PayableAccounts ReceivableCashFees ExpenseMiscellaneous Expense
Accounts PayableAccounts ReceivableCashFees ExpenseMiscellaneous Expense
Jan. 27Accounts PayableAccounts ReceivableCashMiscellaneous ExpenseMiscellaneous Payable
Accounts PayableAccounts ReceivableCashMiscellaneous ExpenseMiscellaneous Payable
Jan. 30Accounts PayableAccounts ReceivableCashUtilities ExpenseUtilities Revenue
Accounts PayableAccounts ReceivableCashUtilities ExpenseUtilities Revenue
Jan. 31Accounts PayableAccounts ReceivableCashFees EarnedFees Expense
Accounts PayableAccounts ReceivableCashFees EarnedFees Expense
Jan. 31Accounts PayableCashUtilities ExpenseUtilities PayableUtilities Revenue
Accounts PayableCashUtilities ExpenseUtilities PayableUtilities Revenue
Jan. 31Accounts PayableB. J. Faust, CapitalB. J. Faust, DrawingCashDrawing Expense
Accounts PayableB. J. Faust, CapitalB. J. Faust, DrawingCashDrawing Expense
The post journalizing selected transactions for a consulting services company in a two-column journal. appeared first on assignmentscribe.blog.
