In: Accounting
DeFond Services, a firm providing art services for advertisers, began business on June 1. The following accounts are needed to record the transactions for June: Cash; Accounts Receivable; Supplies; Office Equipment; Accounts Payable; Common Stock; Dividends; Service Fees Earned; Rent Expense; Utilities Expense; and Wages Expense. Prepare a journal entry for each transaction.
June |
1 |
M. DeFond invested $12,000 cash to begin the business in exchange for common stock. |
2 |
Paid $950 cash for June rent. |
|
3 |
Purchased $6,400 of office equipment on credit. |
|
6 |
Purchased $3,800 of art materials and other supplies; the company paid $1,800 cash with the remainder due within 30 days. |
|
11 |
Billed clients $4,700 for services rendered. |
|
17 |
Collected $3,250 cash from clients on their accounts billed on June 11. |
|
19 |
Paid $3,000 cash toward the account for office equipment (see June 3). |
|
25 |
Paid $900 cash for dividends. |
|
30 |
Paid $350 cash for June utilities. |
|
30 |
Paid $2,500 cash for June wages. |
Prepare a journal entry for each transaction. (Record each
transaction in the order it appears.)
GENERAL JOURNAL |
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Date |
Description |
Debit |
Credit |
June 1 |
AnswerCashAccounts ReceivableSuppliesOffice EquipmentAccounts PayableCommon StockDividendsService Fees EarnedRent ExpenseUtilities ExpenseWages Expense |
Answer |
Answer |
AnswerCashAccounts ReceivableSuppliesOffice EquipmentAccounts PayableCommon StockDividendsService Fees EarnedRent ExpenseUtilities ExpenseWages Expense |
Answer |
Answer |
|
June 2 |
AnswerCashAccounts ReceivableSuppliesOffice EquipmentAccounts PayableCommon StockDividendsService Fees EarnedRent ExpenseUtilities ExpenseWages Expense |
Answer |
Answer |
AnswerCashAccounts ReceivableSuppliesOffice EquipmentAccounts PayableCommon StockDividendsService Fees EarnedRent ExpenseUtilities ExpenseWages Expense |
Answer |
Answer |
|
June 3 |
AnswerCashAccounts ReceivableSuppliesOffice EquipmentAccounts PayableCommon StockDividendsService Fees EarnedRent ExpenseUtilities ExpenseWages Expense |
Answer |
Answer |
AnswerCashAccounts ReceivableSuppliesOffice EquipmentAccounts PayableCommon StockDividendsService Fees EarnedRent ExpenseUtilities ExpenseWages Expense |
Answer |
Answer |
|
June 6 |
AnswerCashAccounts ReceivableSuppliesOffice EquipmentAccounts PayableCommon StockDividendsService Fees EarnedRent ExpenseUtilities ExpenseWages Expense |
Answer |
Answer |
Cash |
Answer |
Answer |
|
AnswerCashAccounts ReceivableSuppliesOffice EquipmentAccounts PayableCommon StockDividendsService Fees EarnedRent ExpenseUtilities ExpenseWages Expense |
Answer |
Answer |
|
June 11 |
AnswerCashAccounts ReceivableSuppliesOffice EquipmentAccounts PayableCommon StockDividendsService Fees EarnedRent ExpenseUtilities ExpenseWages Expense |
Answer |
Answer |
AnswerCashAccounts ReceivableSuppliesOffice EquipmentAccounts PayableCommon StockDividendsService Fees EarnedRent ExpenseUtilities ExpenseWages Expense |
Answer |
Answer |
|
June 17 |
AnswerCashAccounts ReceivableSuppliesOffice EquipmentAccounts PayableCommon StockDividendsService Fees EarnedRent ExpenseUtilities ExpenseWages Expense |
Answer |
Answer |
AnswerCashAccounts ReceivableSuppliesOffice EquipmentAccounts PayableCommon StockDividendsService Fees EarnedRent ExpenseUtilities ExpenseWages Expense |
Answer |
Answer |
|
June 19 |
AnswerCashAccounts ReceivableSuppliesOffice EquipmentAccounts PayableCommon StockDividendsService Fees EarnedRent ExpenseUtilities ExpenseWages Expense |
Answer |
Answer |
AnswerCashAccounts ReceivableSuppliesOffice EquipmentAccounts PayableCommon StockDividendsService Fees EarnedRent ExpenseUtilities ExpenseWages Expense |
Answer |
Answer |
|
June 25 |
AnswerCashAccounts ReceivableSuppliesOffice EquipmentAccounts PayableCommon StockDividendsService Fees EarnedRent ExpenseUtilities ExpenseWages Expense |
Answer |
Answer |
AnswerCashAccounts ReceivableSuppliesOffice EquipmentAccounts PayableCommon StockDividendsService Fees EarnedRent ExpenseUtilities ExpenseWages Expense |
Answer |
Answer |
|
June 30 |
AnswerCashAccounts ReceivableSuppliesOffice EquipmentAccounts PayableCommon StockDividendsService Fees EarnedRent ExpenseUtilities ExpenseWages Expense |
Answer |
Answer |
AnswerCashAccounts ReceivableSuppliesOffice EquipmentAccounts PayableCommon StockDividendsService Fees EarnedRent ExpenseUtilities ExpenseWages Expense |
Answer |
Answer |
|
June 30 |
AnswerCashAccounts ReceivableSuppliesOffice EquipmentAccounts PayableCommon StockDividendsService Fees EarnedRent ExpenseUtilities ExpenseWages Expense |
Answer |
Answer |
AnswerCashAccounts ReceivableSuppliesOffice EquipmentAccounts PayableCommon StockDividendsService Fees EarnedRent ExpenseUtilities ExpenseWages Expense |
Answer |
Answer |
Create a T-account for each account, and then post the journal
entries to the T-accounts.
Enter transactions in the T-accounts in the order they appear.
Cash |
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Answer |
Answer |
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Answer |
Answer |
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Answer |
Answer |
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Answer |
Answer |
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Answer |
Answer |
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Answer |
Answer |
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Supplies |
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Answer |
Answer |
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Office Equipment |
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Answer |
Answer |
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Accounts Receivable |
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Answer |
Answer |
Accounts Payable |
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Answer |
Answer |
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Answer |
Answer |
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Common Stock |
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Answer |
Answer |
Dividends |
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Answer |
Answer |
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Rent Expense |
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Answer |
Answer |
Utilities Expense |
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Answer |
Answer |
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Wages Expense |
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Answer |
Answer |
Service Fees Earned |
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Answer |
Answer |
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