Question

ACCOUNT TITLE	A/C #			NOTES
ASSETS
CASH				Permanent Accounts:
ACCOUNTS RECEIVABLE				Assets
OFFICE FURNITURE				Liabilities
OFFICE EQUIPMENT				Owner's/Stockholders' Equity
LIABILITIES				Temporary Accounts:
ACCOUNTS PAYALBE				Revenue/Income
				Expense
EQUITY
AA CAPITAL
AA DRAWING
REVENUE
Fee Income
EXPENSE
Advertising Expense
Utilities Expense
Salaries Expense
Telephone Expense
Miscellaneous Expense

Adele Applegate is an architect who operates her own business. She has hired you to help her organize her journal entries.

Journalize the transactions below in the journal provided in the attached file

.

Note. Transaction (A.) has been entered as an example.

January 2017 Transactions

January 1 Adele Applegate invested $30,000 in cash to start the business.

2 Adele paid $2,000 for advertisements in a design magazine.

3 Adele purchased office furniture for $4,000 in cash.

4 Adele performed services for $4,200 in cash.

5 Adele paid $375 for the monthly telephone bill.

6 Adele performed services for $2,610 on credit.

7 Adele purchased a fax machine for $575 and paid $175 in cash with the balance due in 30 days.

8 Adele paid a bill for $650 from the office cleaning service.

9 Adele received $2,610 from clients on account.

10 Adele purchased additional office chairs for $1,080 and received credit terms of 30 days.

11 Adele paid $4,000 for salaries.

12 Adele issued a check for $540 in partial payment of the amount owed for office chairs.

13 Adele received $2,800 in cash for services performed.

14 Adele issued a check for $560 for utilities expenses.

15 Adele performed services for $4,200 on credit.

16 Adele collected $1,200 from clients on account.

17 Adele withdrew $3,500 in cash for personal expenses.

18 Adele paid $600 to Vision’s Photocopy Service for photocopy work performed during the month.

Answer 1

Ans-Journal Entries

Date	Account Titles and Explanation	Debit ($)	Credit ($)
Jan.1,2017	Cash A/c Dr.	30,000
	To Adele Applegate Capital		30,000
	(To record cash invested to start the business)
Jan.2	Advertising Expenses A/c Dr.	2,000
	To Cash		2,000
	(To record advertising expenses)
Jan.3	Office Furniture A/c Dr.	4,000
	To Cash		4,000
	(To record office furniture purchased in cash)
Jan.4	Cash A/c Dr.	4,200
	To Fee Income		4,200
	(To record service revenue in cash)
Jan.5	Telephone Expenses A/c Dr.	375
	To Cash A/c		375
	(To record the payment of telephone bills)
Jan.6	Accounts Receivable A/c Dr.	2,610
	To Fee Income		2,610
	(To record amount of service performed in credit)
Jan.7	Office Equipment A/c Dr.	575
	To Cash		175
	To Accounts Payable		400
	(To record the purchase of office fax machine i $175 cash and $400 on credit)
Jan.8	Cleaning Service A/c Dr.	650
	To Cash A/c		650
	(To record the cleaning service paid in cash)
Jan.9	Cash A/c Dr.	2,610
	To Accounts Receivable		2,610
	(To record the amount received from clients on account)
Jan.10	Office Furniture A/c Dr.	1,080
	To Accounts Payable		1,080
	(To record purchase of additional office chairs in credit terms of 30 days)
Jan.11	Salaries Expenses A/c Dr.	4,000
	To Cash A/c		4,000
	(To record the salaries paid in cash)
Jan.12	Accounts Payable A/c Dr.	540
	To Cash A/c		540
	(To record issue a check for $540 in partial payment of the amount owed for office chairs)
Jan.13	Cash A/c Dr.	2,800
	To Fee Income		2,800
	(To record service performed in cash)
Jan.14	Utilities Expenses A/c Dr.	560
	To Cash A/c		560
	(To record paid for utilities expenses)
Jan.15	Accounts Receivable A/c Dr.	4,200
	To Fee Income		4,200
	(To record the services performed on credit)
Jan.16	Cash A/c Dr.	1,200
	To Accounts Receivable		1,200
	(To record cash received from clients on account)
Jan.17	Adele Applegate Drawings A/c Dr.	3,500
	To Cash A/c		3,500
	(To record the cash withdrew for personal expenses by Adele Applegate)
Jan.18	Miscellaneous Expenses A/c Dr.	600
	To Cash		600
	(To record the payment for photocopy work to Vision's Photocopy Service)

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