First part

Classification of accounts using the following elements applied in accounting

Counts Type of Accounts

Debt Credit Types of Accounts

1Cash

Active X Assets-Actives

2Salary Payable Liabilitiesdebt

3Prepaid Expenses Owners EquityWithdrawal Capital

4Unearned Rent DrawingWithdrawal Capital

5Rent Receivable Revenueincome

6Joe Capital Expenses

7Fees Earned

8Joe Drawing

9Account Receivable

10Supplies

11Notes Payable

.

Second Part

the problem is presented in English because all the problems in the book are discussed in this language.

problem related to:

1. record of all transactions from (a) to (i), in the journal. (General Journal)

2. Prepare a transfer transactions to the general ledger (General Ledger)

3. Prepare Trial Balance (An Adjusted Trial Balance)

Journal entries and Trial balance

As of May 1, 2019 Janice, decided to move to rent quarters to operate a business, which will be known as Janice Consulting, on a full-time basis.

Janice Consulting entered the following transactions during May.

1. Transferred from personal account Janice Trump Cash, $50,000 to business account, Original Investment.

2. Paid three months' rent on lease rental contract, $4,800.

3. Paid the premiums on property and casualty insurance policies, $3000.

4. Received cash from clients as an advance payment for services to be provided and recorded it as unearned fees, $5,000.

5. Purchased office equipment on account from office Station Co. $2,000.

6. Received cash from clients, $1,800.

20. Paid cash for supplies, $800.

24. Recorded cash from clients for fees earned for the period May 1 - 24, $20,100.

27. Paid part time receptionist for four weeks salary, $1,500.

28. Paid telephone bill for April, $930.

29. Recorded services provided on account for the period May 1 - 29, $15,700.

30. Paid part of debt incurred on May, $1,200.

31. Janice withdrew $4,000 for personal use.

31. Paid Miscellaneous expenses, $880.

CHART OF ACCOUNTS

11 Cash 31 Janice Trump, Capital

12 Account Receivable 32 Janice Trump, Withdrawal

14 Supplies 41 Fees Earned

15 Prepaid Rent 51 Salary Expense

16 Prepaid Insurance 55 Utility Expense

19 Office Equipment 59 Miscellaneous Expenses

21 Account Payable

23 Unearned Fees

Transactions translated into English

May

1 Establish your business with $ 50,000 cash

2 Prepay three months of rent for $ 4,800 total

3 Prepay the insurance for $ 3,000 total

4 Receive Cash from a client for services that they will provide the next month $ 5.00D

5 Buy Office Equipment on Account from Office Station for $ 2,000

6 Receive Cash from a client for services rendered $ 1,800

20 Paid cash for the purchase of Supplies for $ 800

24 Registered the cash received by clients of services rendered during the period from May 1 to 24 for $ 20,100

27 Pays wages of $ 1,500

28 Paid the phone bill for the month of April for $ 930

29 Registers the invoice for services rendered to its clients to credits for $ '15, 700

30 Pay your creditor Office Station for $ 1,200

30 Withdrawn money for personal use of $ 4,000

30 Paid $ 880 for miscellaneous expenses

1 Define the term accounting as discussed in class.

2 Define the term account and the five main parts

3 List the types of accounts (Six Types)

4 What these ACRONYMS represent:

GAAP

FASB

SEC

IRS

5 Define the following Concepts discussed in the first chapter of the course book

Concept of commercial entity Concept of monetary unit

Brand Business Concept

Cost concept

Instructions:

Journalize each transaction in a two-column Journal, referring to the following chart of accounts in selecting the accounts to be debited and credited, Explanation may be omitted.

General Journal

Date Description P/Ref Debit Credit

General Legger

Account:CashNum.11

Date Descripcion P/Ref. Debit Credit Balance

General Ledger

AccountAccount RecivableNum. 12

Date Descripcion P/Ref. Debit Credit Balance

General Legger

Account:SuppliesNum. 14

Date Descripcion P/Ref. Debit Credit Balance

General Ledger

Account:Prepaid RentNum. 15

Date Descripcion P/Ref. Debit Credit Balance

General Ledger

Account: Prepaid InsuranceNum. 16

Date Descripcion P/Ref. Debit Credit Balance

General Ledger

Account: Account PayableNum. 21

Date Descripcion P/Ref. Debit Credit Balance

General Ledger

Account; Unearned FeesNum.23

Date Descripcion P/Ref. Debit Credit Balance

General Legger

Account: Janice Trump CapitalNum.31

Date Descripcion P/Ref. Debit Credit Balance

General Ledger

Account; Janice Trump WithdrawalNum.32

Date Descripcion P/Ref. Debit Credit Balance

General Ledger

Account; Fees EarneNum. 41

Date Descripcion P/Ref. Debit Credit Balance

General Ledger

Account; Salaries ExpenseNum. 51

Date Descripcion P/Ref. Debit Credit Balance

General Ledger

Account; Utility ExpenseNum.

Date Descripcion P/Ref. Debit Credit Balance

Account. Miscellaneous ExpenseNum. 59

Date Descripcion P/Ref. Debit Credit Balance

Janice Trump

Trial Balane

For the Month of __________

Date Description P/Ref Debit Credit