Question

Record the adjusting entries in the general journal and post them to the ledger accounts and include narrations and dates. Then prepare the adjusted trial balance.

1. On August 2, Paid $2200 cash for August salon rent.
2. On August 4, Incurred $380 of advertising costs due in 20 days
3. On August 5, Purchased salon equipment for $120
4. On August 7, Paid for supplies (shampoos, creams, and gels) $350
5. On August 8, received $280 for selling gels
6. On August 12, paid $180 water bill
7. On August 12, paid $160 for electricity bill
8. On August 14, incurred $1050 for the business’s bank loan due in 14 days
9. On August 16, purchased a new chair set up for $400
10. On August 17, paid the amount due for the influencer $380 for advertising
11. On August 19, paid $90 for my internet bill
12. On August 21, received for $200 selling of shampoos
13. On August 23, paid $110 for insurance
14. On August 24, cleaner $110
15. On August 27, paid $1050 for the business’s bank loan
16. On August 28, gas bills $35
17. On August 30, extra salary cost to a new trainee $400
18. On August 30, purchased a new tv screen $600
19. On August 30, paid $6000 in salaries for the month of August.
20. On August 30, received $14000 from haircuts services during the month of August. And $500 of selling gels, creams, and shampoos

Answer 1

Date	Account Titles and explanations	Debits	Credits
2-Aug	Rent expense	$   2,200.00
	Cash		$   2,200.00
	(paid rent)
4-Aug	Advertising expense	$      380.00
	Accounts payable		$      380.00
	(advertising accrued)
5-Aug	Equipment	$      120.00
	Cash		$      120.00
	(purchased equipment)
7-Aug	Supplies	$      350.00
	Cash		$      350.00
	(purchased supplies)
8-Aug	Cash	$      280.00
	Sales Revenues (Supplies)		$      280.00
	(Revenue incurred for Cash)
12-Aug	Utility bills	$      180.00
	Cash		$      180.00
	(paid water bill)
12-Aug	Utility bills	$      160.00
	Cash		$      160.00
	(paid electricity bill)
14-Aug	Cash	$   1,050.00
	Bank Loan		$   1,050.00
	bank loan borrowed)
16-Aug	Furniture	$      400.00
	Cash		$      400.00
	(purchased a new chair)
17-Aug	Accounts Payable	$      380.00
	Cash		$      380.00
	(Paid Accounts payable for advertising)
19-Aug	Utility bills	$        90.00
	Cash		$        90.00
	(paid internet bill)
21-Aug	Cash	$      200.00
	Sales Revenue (supplies)		$      200.00
	(Revenue incurred for Cash)
23-Aug	Insurance expense	$      110.00
	Cash		$      110.00
	(insurance paid)
24-Aug	Cleaning expense	$      110.00
	Cash		$      110.00
	(paid cleaner)
27-Aug	Bank loan	$   1,100.00
	Cash		$   1,100.00
	( bank loan repaid)
28-Aug	Utility expense	$        35.00
	Cash		$        35.00
	(Paid gas bill)
30-Aug	Salary expense	$      400.00
	Cash		$      400.00
	(Paid to  trainee)
30-Aug	Equipment	$      600.00
	Cash		$      600.00
	(TV Purchased)
30-Aug	Salary expense	$   6,000.00
	Cash		$   6,000.00
	(Salaries Paid)
30-Aug	Cash	$ 14,500.00
	Service revenue		$ 14,000.00
	Sales Revenue		$      500.00
	(Revenues incurred for Cash)