Create General Journal Entries for the following entries.

Here is what it should look like in Excel (as an example):

As for the previous month's entries, here they are with the General Journal I made.

BEACON LUMBER, MONTH OF DECEMBER Dec Beacon purchases a general liability insurance policy for $1,200, paying cash. The term of the policy is one year, from Dec 1, 2009 through Nov 30, 2010. Dec Beacon purchases a forklift for S10,000, paying half in cash and half with a 5 year, 12% note. The forklift is a well made American Machine & Foundry product, and it is expected to last for 10 years. Dec Beacon purchases office equipment for S2,000, paying cash. The equipment has an expected life of 5 years. Dec 3Beacon purchases 30,000 bd. ft. of lumber from BWLC for $27,000. Again, after reaching its credit limit it paid cash for the remaining amount. Dec3On this day Beacon sent a check to pay for December's rent for the office trailer Dec 6 Beacon signs a contract with SCORE Construction to have a warehouse built on its property. The warehouse will cost S20,000. Beacon will pay SCORE by issuing S10,000 worth of stock, paying $5,000 in cash and issuing a note for the balance. Dec 6 Beacon pays $300 for three months of advertising on a web site. The ad will run from Dec 15, 2009 through March 15, 2010. Dec 6 The sister of investor #2 purchases the balance of investor #2's Beacon stock for S3,000 (see General Journal, Nov 15). Dec7 Beacon pays the lawyer's bill received on Nov 4. Dec 15 Mark Peltz, a local sculptor, agrees to rent 1 acre of land at the rear of Beacon's lot to use as an outdoor studio. He pays $600 for 4 months rent. The lease will start on Dec 15. Dec 15 On this day Beacon sells 3 acres of land for $15,000. It receives $5,000 in cash and a mortgage note for the rest. The note carries interest at 10% and the principal amount is due in 8 years. Assume that all the land had a uniform cost per acre when it was purchased by Beacon Dec 18 The office manager purchases $250 worth of office supplies. Use account #728 (Office Supplies Expense) to record the purchase. Beacon pays cash Dec 29 Girl Scouts sneak into the lot Friday night and start a campfire. The fire gets out of control and destroys $1,800 worth of inventory. (In order to avoid embarrassment to the Girl Scouts, the company does not file charges with the police or make an insurance claim. Instead it asks the Girl Scouts to perform 200 hours of community service.) Dec 29 The Board of Directors declares a cash dividend of S.05 per share, payable in January. (Hint: Use the dividends and dividends payable - common stock accounts.) Verify that the amount of the dividends (the product of the number of shares issued and the amount per share) equals $2,000. Dec 30 This is the last payday for the month of December. The next payday will occur in January. Payroll checks for the month of December total $5,248 (For the time being you can ignore taxes. We will examine this topic later in the course.) Dec 31Total sales on account for the month of December were $45,600. Beacon sold should be able to use this information to calculate the COGS entry.) Dec 31 By the end of the month Beacon had collected cash payments from its account all merchandise at a uniform selling price of S1.60 per board foot. (Hint: you holders of $36,700. Beacon Lumber - Spring 2018 General Journal December Inc/Dec Account Title Description Ref Debit Credit Date BEACON LUMBER, MONTH OF NOVEMBER Nov 4 On this day an entrepreneur (investor #1) created the Beacon Lumber corporation and purchased 20,000 shares of its common stock for $20,000. The corporation will operate a lumberyard and building materials business in a medium sized city not far from your school. The business will prepare financial statements on a monthly basis. Nov 4 Later in the day two other investors purchase shares. Investor #2 purchases 2,000 shares for $2,000 and investor #3 purchases 3,000 shares for $3,000. Nov 4 Later that afternoon the lawyer who performed the incorporation submits a bill for S500 fee and S37.18 in expenses. The investors (and, at present, the sole owners) of the Beacon Lumber Corporation elect three prominent businesspersons to the company's Board of Directors. The board will meet once every quarter to review operations and set overall policy for the company, but it will not be involved in the day to day operations. The company's founder is appointed CEO of the corporation. The board appoints a clerk-secretary Nov 6 Nov 15 An investor supplies 20 acres of land in exchange for stock and a mortgage note. The land has been appraised at S70,000 and the investor receives 15,000 shares of stock and a note with a face value of S55,000. The note requires Beacon to pay interest at the rate of 10% per year and the principal (face amount) is due in 5 years. Investor #2 sells 500 shares of Beacon stock to a younger sister for $500. Nov 15 Nov 17 Beacon agrees to rent a trailer which it will use as a temporary office. The rental cost, as determined by AZCO, the lessor, will be $200 per month AZCO will pro-rate this month's rent, using a Nov18h start date. Beacon pays the rent. In the future, rent will be due the first of the month. Beacon applies for credit to the Big Wholesale Lumber Company (BWLC). Since Beacon is a brand new business and has no history of operations the credit manager for the BWLC is at first reluctant to approve the request. Eventually, after heated discussions, she agrees to a $10,000 limit, provided that the company's ratio of Debt to Total Assets does not rise above.70, and that its Current Ratio does not fall below 2.45. Nov 17 Beacon purchases 20,000 board feet (bd. ft.) of framing lumber from BWLC at a cost of $90d. ft., (ninety cents per board foot). After reaching its credit limit, it paid cash for the balance of the purchase. Nov 17 Beacon hires an Office Manager and two yard personnel. The yard personnel will each earn $12.00 per hour and the manager will earn S17.00 per hour. All employees will work an eight-hour day Nov 17 Nov 18The Solid Construction Company purchases 3,000 bd. ft. of lumber on account for $4,800.00. (Hint: remember to make an entry for Cost of Goods Sold (COGS)- 3,000 board feet at S.90 per board foot. COGS is an expense, so you will debit this account and credit inventory, an asset.) The Strong Construction Company purchases 6,000 bd. ft. of lumber on account for $9,600.00. Nov 18 Nov 18 The Reliable Construction Company purchases 4,000 bd. ft. of lumber o1n account for S6,400.00. The Nocturnal Departures Home Improvement Co. purchases 1,000 bd. ft. of lumber for S1,600, paying cash. Nov 20 John Q. Homeowner purchases 2,000 bd. ft. of lumber for S3,500, paying cash. He does not have a sales tax exemption certificate. By law, Beacon must collect 8.25% sales tax and remit this to the state at the end of each quarter. (Hint: your entry should include a credit to Sales Taxes Payable of $288.75 (S3,500 x.0825).) Nov 22 The Solid, Strong & Reliable Construction Companies all send checks totaling $18,000 for payment on account. Nov 26 Beacon writes a check for $10,000 to the Big Wholesale Lumber Company for payment on account Nov 26 Beacon pays a total wage expense of $3,608 to its workers for the month of November. (Debit the store wages expense account when you make this entry.) Nov 30 Beacon Lumber- Spring 2018 General Joumal November Credit Account Title 11/4/19 Cash Purchase 20,000 shares by Investor #1 20,000.00 Common Stock 20,000.00 4-Nov Cash -Nov Cash 4-Nov Legal Service Expense Purchase 2,000 shares by Investor #2 Purchase 3,000 shares by investor #3 Lawyer Submit Bill for Incorporation 2,000.00 Common Stock 2,000.00 3,000.00 537.18 3,000.00 Common Stock Account's Payable 15-Nov Land Investor Exchanges Stock for Land and Mortagage Note 70,000.00 Notes Payable Common Stock 55,000.00 15,000.00 15-Nov 17-Nov Rent Expense Rent Trailer from AZCO 80.00 Dec 17-Nov Cash Grant of $10,000 by BWLC 10,000.00 18,000.00 Accounts Pavable 17-Nov Invento Purchase of Lumber Dec 8,000.00 10,000.00 Account's Recieveable 17-Nov 18-Nov Account's Recieveable 4,800.00 2,700.00 Sale of Lumber to Solid Construction Cost of Goods Sold Sales Revenue Invento 4,800.00 2,700.00 Dec 18-Nov Account's Recieveable Sale of Lumber to Strong Construction 5,400.00 Cost of Goods Sold Sales Revenue Invento 9,600.00 5,400.00 Dec 6,400.00 3,600.00 18-Nov Account's Recieveable Sale of Lumber to Reliable Construction nc Cost of Goods Sold Sales Revenue Invento 6,400.00 3,600.00 Dec 1,600.00 900.00 Noctemal Departures Buys Lumber Cost of Goods Sold Sales Revenue Invento 1,600.00 900.00 Dec 3,788.75 1,800.00 22-Nov Cash Sales of Lumber to Homeowner 3,500.00 1,800.00 288.75 Cost of Goods Sold Sales Revenue Invento Sales Tax Payable Dec 18,000.00 26-Nov Cash 26-Nov Account's Payable 30-Nov Store Wages Ex ad Reliable send checks Dec 18,000.00 10,000.00 3,608.00 Accounts Recieveable 10,000.00 Beacon writes check to BWLC Beacon Pays Wages Dec