eBook Show Me How Journal entries and trial balance Instructions Chart of Accounts Journal Ledger Unadjusted Trial Balance Final Questions Instructions On June 1, 2016, Hannah Els established an interior decorating business, Whitworth Designs. During the month, Hannah completed the following transactions related to the business: June 1 Hannah transferred cash from a personal bank account to an account to be used for the business, $27,250. 1 Paid rent for period of June 1 to end of month, $3,100. 6 Purchased office equipment on account, $12,700. B Purchased a van for $31,450 paying $6,300 cash and giving a note payable for the remainder. 10 Purchased supplies for cash, $1,660. 12 Received cash for job completed, $9,000. 15 Paid annual premiums on property and casualty insurance, $2,500. 23 Recorded jobs completed on account and sent invoices to customers, $12,440. 24. Donald on imuninn fun ha maid in h. 1.300 Journal entries and trial balance Instructions Chart of Accounts Journal Ledger Unadjusted Trial Balance Final Questions Instructions 8 Purchased a van for $31,450 paying $6,300 cash and giving a note payable for the remainder. 10 Purchased supplies for cash, $1,660 12 Received cash for job completed. $9,000. 15 Paid annual premiums on property and casualty insurance, $2,500. 23 Recorded jobs completed on account and sent invoices to customers, $12,440. 24 Received an invoice for van expenses, to be paid in July, $1,390. Enter the following transactions on Page 2 of the two-column journal 29 Paid utilities expense, $3,060. June 29 Paid miscellaneous expenses, $1,580. 30 Received cash from customers on account. $8,200 Check My Work 3 more Check My Work uses remaining Previous Journal entries and trial balance Instructions Instructions Chart of Accounts Journal Ledger Unadjusted Trial Balance Final Questions June 29 Paid utilities expense, $3,660. 29 Paid miscellaneous expenses, $1,580. 30 Received cash from customers on account, $8,200 30 Paid wages of employees, $4,600. 30 Paid creditor a portion of the amount owed for equipment purchased on June 6, $6,160. 30 Withdrew cash for personal use, $2,100. Required: 1. Journalize each transaction in a two-column journal beginning on Page 1, referring to the chart of accounts in selecting the accounts to be debited and credited. (Do not insert the post reference numbers until you have posted the entry to the general ledger in part 2) CNOW joumals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW journals will automatically indent Instructions Required: 1. Journalize each transaction in a two-column journal beginning on Page 1, referring to the chart of accounts in selecting the accounts to be debited and credited. (Do not insert the post reference numbers until you have posted the entry to the general ledger in part 2.) CNOW journals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW journals will automatically indent a credit entry when a credit amount is entered. 2. Post (in chronological order) the journal to a ledger of four-column accounts, inserting appropriate posting references in both the journal and the ledger as each item is posted. Extend the balances to the appropriate balance columns after each transaction is posted. Record DATE, ITEM, POST REF, a debit or credit and a debit or credit under BALANCE on every line. In CNOW, Journal pages do not begin with "J". For example journal page 10 POST. REF is simply 10. If the ending balance is $0, at least one balance amount should be $0. 3. Prepare an unadjusted trial balance for Whitworth Designs as of June 30, 2016. 4. Determine the excess of revenues over expenses for June 5. Can you think of any reason why the amount determined in (4) might not be the net income for June? Check My Work 3 more Check My Work uses remaining. Instructions Chart of Accounts CHART OF ACCOUNTS Whitworth Designs General Ledger ASSETS 11 Cash 12 Accounts Receivable 13 Supplies 14 Prepaid Insurance 16 Office Equipment REVENUE 41 Fees Earned EXPENSES 51 Wages Expense 53 Rent Expense Xs in selecting the accounts to be eral ledger in part 2.) CNOW journals NOW journals will automatically indent references in both the journal and the ction is posted. Record DATE, ITEM, s do not begin with "J". For example be $0. Chart of Accounts General Ledger s in selecting the accounts to be eral ledger in part 2.) CNOW jour NOW journals will automatically inc ASSETS 11 Cash 12 Accounts Receivable REVENUE 41 Fees Earned 13 Supplies 14 Prepaid Insurance 16 Office Equipment 18 Van LIABILITIES 21 Notes Payable EXPENSES 51 Wages Expense 53 Rent Expense 54 Utilities Expense 55 Van Expense 59 Miscellaneous Expense references in both the journal anc ction is posted. Record DATE, ITE do not begin with "J". For examp be $0. 16 Office Equipment 18 Van LIABILITIES 21 Notes Payable 22 Accounts Payable 54 Utilities Expense 55 Van Expense 59 Miscellaneous Expense beral ledger in part 2.) CNOW NOW journals will automatica references in both the journ ction is posted. Record DATE do not begin with "J". For e be $0. EQUITY 31 Hannah Ellis, Capital 32 Hannah Ellis, Drawing Journal entries and trial balance Instructions Chart of Accounts Journal Ledger Journal Unadjusted Trial Balance Final Questions 1. Journalize each transaction in a two-column journal beginning on Page 1, referring to the chart of accounts in selecting the accounts to be debited and credited. (Do not insert the post reference numbers until you have posted the entry to the general dger in part 2.) CNOW journals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW journals will automatically indent a credit entry when a credit amount is entered. PAGE 1 JOURNAL ACCOUNTING EQUATION DATE DESCRIPTION POST REF DEBIT CREDIT ASSETS LIABILITIES EQUITY BOOK Journal entries and trial balance Instructions Chart of Accounts Journal Ledger Unadjusted Trial Balance Final Questions Journal 1. Joumalize each transaction in a two-column journal beginning on Page 1, referring to the chart of accounts in selecting the accounts to be debited and credited (Do not insert the post reference numbers until you have posted the entry to the general dger in part 2) CNOW journals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW journals will automatically indent a credit entry when a credit amount is entered. DATE DESCRIPTION PAGE 1 JOURNAL ACCOUNTING EQUATION POST RE DEBIT CREDIT ASSETS LIABILITIES EQUITY Instructions Chart of Accounts Journal Joumal Ledger Unadjusted Trial Balance Final Questions JOURNAL ACCOUNTING EQUATION DATE DESCRIPTION POST REF DEBIT CREDIT ASSETS LIABILITIES EQUITY My Work 3 more Check My Work uses remaining Previous Journal DATE DESCRIPTION JOURNAL PAGE ACCOUNTING EQUATION POST REF DEBIT CREDIT ASSETS LIABILITIES EQUITY ck My Work 3 more Check My Work uses remaining Previous