Fill in the blanks with the correct Account Names and Debit/Credit Amounts for the following Journal Entries:
For Account Names, use the Chart of Accounts to choose the appropriate Account Name. Accounts must be spelled exactly how they appear in the Chart to get credit.
For Debit/Credit Amounts, use the following numeric format: 12345 (no dollar signs, no commas).
If no journal entry is required, write NO for all Debit/Credit Accounts and Debit/Credit Amounts.
Chart of Accounts
| Assets | Stockholders' Equity |
| Cash | Contributed Capital |
| Accounts Receivable | Dividends |
| Inventory | |
| Supplies | Sales |
| Prepaid Rent | Cost of Goods Sold |
| Equipment | Depreciation Expense |
| Accumulated Depreciation | Interest Expense |
| Liabilities | Rent Expense |
| Accounts Payable | Supplies Expense |
| Interest Payable | Wages Expense |
| Notes Payable | Utilities Expense |
| Wages Payable | |
| Unearned Revenue | |
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Fill in the blanks with the correct Account Names and Debit/Credit Amounts for the following Journal Entries: For Account Naines, use the Chart of Accounts to choose the appropriate Account Name Accounts must be spelled exactly how they appear in the Chart to get credit For Debit/Credit Amounts, use the following numeric format: 12345 (no dollar signs, no commas), If no journal entry is required, write NO for all Debit/Credit Accounts and Debit/Credit Amounts Chart of Accounts Assets Stockholders' Equity Cash Contributed Capital Accounts Receivable Dividends Inventory Supplies Sales Prepaid Rent Cost of Goods Sold Equipment Depreciation Expense Interest Expense Rent Experts Accumulated Depreciation Liabilities Accounts Payable Interest Payable Supplies Expense Wages Expense Utilities Expense Notes Payable Wages Payable Unearned Revenue Justin had a great idea to start a pet supplies store in Camden NI. Make the appropriate journal entries for the following activities 1. On January 1, Justin decided to start his business. Justin's business borrowed $160.000 from the bank to get started, Justin decided to call his business: Pet Pro Store Debit Account Name Credit Account Name Debit Amount Credit Amount $ 2. On January 1, Justin's Pet Pro Store found a store to rent. Justin paid $78.000 of cash to rent the store for 1 year. Make the journal entry required for January 1st. Debit Account Name Credit Account Name Debit Amount Credit Amount 3. On January 1st. Justin purchased a delivery truck for $44,000 with cash. Debit Account Name Credit Account Name Debit Amount Credit Amount 4. On January 7th, Justin purchased 4,500 cans of pel food from a local supplier for $1,750 on account. The supplier agreed to give lustin 30 days to pay him back. Debit Account Name Credit Account Name Debit Amount Credit Amount $ 5. On January 11th, Justin realized that his business would need more cash to survive. He found friends and families willing to invest $45.000 into the company for 3,000 shares of stock Debit Account Name Credit Account Name Debit Amount Credit Amount 6. On January 12th. Justin sold 2550 cans of pet food for $3,350 to customers who paid on credit Debit Account Name Credit Account Name Debit Amount Credit Amount $ 7. The 2,550 cans of pet food sold in the previous transaction had cost $1,050. Debit Account Name Credit Account Nam Debit Amount Credit Amount $ 8. On January 16th. Justin hired his first employee. The employee would run the cash register and sort the inventory. She would be paid $15/hour. Make the journal entry required on January 16th. Debit Account Name Credit Account Name Debit Amount Credit Amount 9. On January 31st, Justin owed his cashier $1,500 for work done during the month. He would not pay the cashier until February 2rud. Make the appropriate journal entry for lawary 31st, Debit Account Name Credit Account Name Debit Amount Credit Amount s 10. On January 31st, Justin recorded the how much rent ad expired for his store. He had paid $78,000 for the first year of rent in transaction (2) Debit Account Name Credit Account Name Debit Amount Credit Amount $44,000 11. On January 31st, Justin had to record the depreciation on the truck he had bought in transaction (3). He estimated that the truck would last for 15 years and have a salvage value of $2,600. He had originally bought it Debit Account Name Credit Account Name Debit Amount Credit Amount 12. On January 31st, Justin owed the bank $155 in interest. He would not pay the bank until February 5th Debit Account Name Credit Account Name Debit Amount Credit Amount $ 13. On January 31st, Justin paid his supplier $1,750 in cash for the pet food he had purchased in (4). Debit Account Name Credit Account Name Debit Amount Credit Amount $ 14. On January 31st, Justin received $3,350 in cash from the customers who had purchased pet food on credit in transaction (6). Debit Account Name Credit Account Name Debit Amount Credit Amount $ Question 5 Using the journal entries above (in part IV), what is Justin's revenue for the month: (sales) Question 6 Using the journal entries above (in part IV), what is Justin's expense for the month: [expenses] Fill in the blanks with the correct Account Names and Debit/Credit Amounts for the following Journal Entries: For Account Naines, use the Chart of Accounts to choose the appropriate Account Name Accounts must be spelled exactly how they appear in the Chart to get credit For Debit/Credit Amounts, use the following numeric format: 12345 (no dollar signs, no commas), If no journal entry is required, write NO for all Debit/Credit Accounts and Debit/Credit Amounts Chart of Accounts Assets Stockholders' Equity Cash Contributed Capital Accounts Receivable Dividends Inventory Supplies Sales Prepaid Rent Cost of Goods Sold Equipment Depreciation Expense Interest Expense Rent Experts Accumulated Depreciation Liabilities Accounts Payable Interest Payable Supplies Expense Wages Expense Utilities Expense Notes Payable Wages Payable Unearned Revenue Justin had a great idea to start a pet supplies store in Camden NI. Make the appropriate journal entries for the following activities 1. On January 1, Justin decided to start his business. Justin's business borrowed $160.000 from the bank to get started, Justin decided to call his business: Pet Pro Store Debit Account Name Credit Account Name Debit Amount Credit Amount $ 2. On January 1, Justin's Pet Pro Store found a store to rent. Justin paid $78.000 of cash to rent the store for 1 year. Make the journal entry required for January 1st. Debit Account Name Credit Account Name Debit Amount Credit Amount 3. On January 1st. Justin purchased a delivery truck for $44,000 with cash. Debit Account Name Credit Account Name Debit Amount Credit Amount 4. On January 7th, Justin purchased 4,500 cans of pel food from a local supplier for $1,750 on account. The supplier agreed to give lustin 30 days to pay him back. Debit Account Name Credit Account Name Debit Amount Credit Amount $ 5. On January 11th, Justin realized that his business would need more cash to survive. He found friends and families willing to invest $45.000 into the company for 3,000 shares of stock Debit Account Name Credit Account Name Debit Amount Credit Amount 6. On January 12th. Justin sold 2550 cans of pet food for $3,350 to customers who paid on credit Debit Account Name Credit Account Name Debit Amount Credit Amount $ 7. The 2,550 cans of pet food sold in the previous transaction had cost $1,050. Debit Account Name Credit Account Nam Debit Amount Credit Amount $ 8. On January 16th. Justin hired his first employee. The employee would run the cash register and sort the inventory. She would be paid $15/hour. Make the journal entry required on January 16th. Debit Account Name Credit Account Name Debit Amount Credit Amount 9. On January 31st, Justin owed his cashier $1,500 for work done during the month. He would not pay the cashier until February 2rud. Make the appropriate journal entry for lawary 31st, Debit Account Name Credit Account Name Debit Amount Credit Amount s 10. On January 31st, Justin recorded the how much rent ad expired for his store. He had paid $78,000 for the first year of rent in transaction (2) Debit Account Name Credit Account Name Debit Amount Credit Amount $44,000 11. On January 31st, Justin had to record the depreciation on the truck he had bought in transaction (3). He estimated that the truck would last for 15 years and have a salvage value of $2,600. He had originally bought it Debit Account Name Credit Account Name Debit Amount Credit Amount 12. On January 31st, Justin owed the bank $155 in interest. He would not pay the bank until February 5th Debit Account Name Credit Account Name Debit Amount Credit Amount $ 13. On January 31st, Justin paid his supplier $1,750 in cash for the pet food he had purchased in (4). Debit Account Name Credit Account Name Debit Amount Credit Amount $ 14. On January 31st, Justin received $3,350 in cash from the customers who had purchased pet food on credit in transaction (6). Debit Account Name Credit Account Name Debit Amount Credit Amount $ Question 5 Using the journal entries above (in part IV), what is Justin's revenue for the month: (sales) Question 6 Using the journal entries above (in part IV), what is Justin's expense for the month: [expenses]
