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General Ledger Accounts; Trial Balance Diane Bernick opened Bernick's Consulting. Transactions and related journal entries for the month of January are shown. Jan. 1 Bernick invested cash in the business, $11,000. 2 Paid office rent, $700. 3 Purchased office equipment on account, $1,200. 5 Received cash for services rendered, $1,000. 8 Paid phone bill, $75. 10 Paid for a magazine subscription (miscellaneous expense), $15. 11 Purchased office supplies on account, $300. 15 Made a payment on account (see Jan. 3 transaction), $250. 18 Paid part-time employee, $600. 21 Received cash for services rendered, $700. 25 Paid utilities bill, $115. 27 Bernick withdrew cash for personal use, $350. 29 Paid part-time employee, $600. DATE 120- GENERAL JOURNAL DESCRIPTION POST. REF. L DEBIT PAGE 1 CREDIT DATE 20-- Jan. 1 Jan. 2 Jan. 3 Jan. 5 Jan. 8 Cash Rent Expense Diane Bernick, Capital Owner's original investment Cash Office Equipment Cash Paid office rent for January GENERAL JOURNAL Accounts Payable Purchased office equipment on account DESCRIPTION Phone Expense Consulting Fees Received cash for consulting services Cash Daid nhone hill POST. REF. DEBIT 11,000 700 1,200 1,000 75 PAGE 1 CREDIT 11,000 700 1,200 1,000 75 eBook Jan. 5 Jan. 8 Jan. 10 DATE 20-- Jan. 11 Jan. 15 Cash Show Me How Consulting Fees Received cash for consulting services Phone Expense Cash Paid phone bill Miscellaneous Expense Cash Calculator Purchased magazine subscription Office Supplies Accounts Payable Cash GENERAL JOURNAL DESCRIPTION Accounts Payable Purchased office supplies on account Print Item POST. REF. 1,000 75 15 DEBIT 300 250 1,000 75 15 PAGE 2 CREDIT 300 250 eBook Jan. 18 Jan. 21 Jan. 25 Jan. 27 Jan. 29 Cash Wages Expense Cash Cash Made partial payment on office equipment Show Me How Paid employee Consulting Fees Received cash for consulting services Utilities Expense Cash Paid utilities bill Diane Bernick, Drawing Cash Owner's withdrawal Calculator Wages Expense Cash (6 Print Item 600 700 115 350 600 250 600 700 115 350 600 1. Post the transactions to the general ledger. 20-- Paid employee ACCOUNT DATE ITEM GENERAL LEDGER Cash POST. REF. > 4 4 DEBIT CREDIT ACCOUNT NO. BALANCE DEBIT Enge MED 101 CREDIT 20-- 20-- ACCOUNT 20-- DATE ACCOUNT DATE ACCOUNT DATE ITEM ITEM ITEM Office Supplies POST. REF. Office Equipment POST. REF. Accounts Payable POST. REF. DEBIT DEBIT DEBIT CREDIT CREDIT CREDIT ACCOUNT NO. DEBIT BALANCE ACCOUNT NO. DEBIT BALANCE ACCOUNT NO. DEBIT BALANCE 142 CREDIT 181 CREDIT 202 CREDIT 20-- 20-- 20-- ACCOUNT DATE ACCOUNT DATE ACCOUNT DATE ITEM ITEM ITEM Diane Bernick, Capital POST. REF. Diane Bernick, Drawing POST. REF. Consulting Fees DEBIT POST. REF. DEBIT DEBIT CREDIT CREDIT CREDIT ACCOUNT NO. BALANCE DEBIT ACCOUNT NO. BALANCE DEBIT ACCOUNT NO. DEBIT BALANCE 311 CREDIT 312 CREDIT 401 CREDIT 20-- ACCOUNT 20-- DATE ACCOUNT 20-- DATE ACCOUNT DATE ACCOUNT MIC ITEM ITEM ITEM Wages Expense POST. REF. Rent Expense POST. REF. Phone Expense POST. REF. Utilities Expense DEBIT DEBIT DEBIT Timt neml CREDIT CREDIT CREDIT ACCOUNT NO. DEBIT BALANCE ACCOUNT NO. DEBIT BALANCE ACCOUNT NO. DEBIT BALANCE ACCOUNT NO. CREDIT 511 521 CREDIT 525 CREDIT 533 eBook 20-- ACCOUNT 20-- DATE ACCOUNT DATE Account Title Cash Office Supplies Office Equipment Show Me How 2. Prepare a trial balance. ITEM Cantina Ca Accounts Payable Diane Bernick, Capital Diane Bernick, Drawing ITEM Calculator POST. REF. Utilities Expense Miscellaneous Expense 142 181 202 311 312 401 POST. REF. DEBIT Bernick's Consulting Trial Balance January 31, 20-- Account No. Debit Balance Credit Balance 101 DEBIT Print Item CREDIT ACCOUNT NO. BALANCE DEBIT ACCOUNT NO. BALANCE CREDIT DEBIT 533 CREDIT 549 CREDIT 2. Prepare a trial balance. Account Title Cash Office Supplies Office Equipment Accounts Payable Diane Bernick, Capital Diane Bernick, Drawing Consulting Fees Wages Expense Rent Expense Phone Expense Utilities Expense Miscellaneous Expense Bernick's Consulting Trial Balance January 31, 20-- Account No. Debit Balance Credit Balance 101 142 181 202 311 312 401 511 521 525 533 549