Happy Smiles Photography Molly has recently started a photography business, and due to her natural talent and the marketing efforts she has made on Instagram, her business has taken off! However, she didn't realize she would have to do accounting! Luckily, you are a great friend and have the skills to help her out. You have been provided with a Project Template, with the beginning balances for the accounts. Listed below are the transactions for the month of June. Please use the project template provided for you to go through the accounting cycle for the month, and make sure you match up with the check figures provided. June Transactions to Journal: Date Amount Description 6/1 $800 Purchased Laptop with Cash 6/1 $500 Received cash for an Engagement Session 6/5 $50 Purchased Photography Equipment on Account 6/5 $30 Paid cash to travel to a remote Wedding 6/6 Billed Customers on Account for Photography Services. 6/10 $100 Paid Cash for Advertising Expense 6/20 $50 Paid $50 Accounts Payable for the 6/5 purchase. 6/21 $50 Paid cash for Repair on Camera 6/28 $60 Paid Cell Phone Bill 6/29 $50 Paid Insurance Bill for June 6/29 $1000 Billed Customers on Account for Photography Service Sales. 6/29 $750 Received Cash from customer for the work done on 6/6. 6/30 $250 Molly withdrew Cash for personal expense Adjustments to be Journaled: Depreciation Expense for the Photography Equipment was $25 for the month. Supplies at the end of the month totaled $50. $750 A B C D E 1 N 2 3 st 4 5 5 6 7 Credit Balances 00 9 100.00 9 10 11 12 13 Happy Smiles Post Closing Trial Balance 5/31/201x Debit Balances Cash $ 5,500.00 Accounts Receivable $ 750.00 Photography Equipment $ 2,000.00 Accum. Depr. - Equipment $ Laptop $ Supplies $ 100.00 $ Accounts Payable $ Capital - Molly $ Drawing - Molly Sales Advertisement Expense Depreciation Expense-Equipment Supplies Expense Insurance Expense Travel Expense Equipment Repairs Expense Cell Phone Expense $ 8,350.00 $ 1,000.00 7,250.00 14 15 16 17 18 19 20 21 22 23 24 8,350.00 D G M N B Unadjusted Trial Balance Debit Credit E Adjustments # Credit H Adjusted Trial Balance Debit Credit J Income Statement Debit Credit Balance Sheet Debit Credit Debit # 1 2 Description (Account Name) 3 Cash 4 Accounts Receivable 5 Photography Equipment 6 Accum. Depr. - Equipment 7 Laptop 8 Supplies 9 Accounts Payable 10 Capital - Molly 11 Drawing - Molly 12 Sales 13 Advertisement Expense 14 Depreciation Expense-Equipment 15 Supplies Expense 16 Insurance Expense 17 Travel Expense 18 Equipment Repairs Expense 19 Cell Phone Expense 20 Totals 21 Net Income 22 23 June Journal General Ledger June Adjusting Journal Entries Worksheet Incom + : Happy Smiles Photography Molly has recently started a photography business, and due to her natural talent and the marketing efforts she has made on Instagram, her business has taken off! However, she didn't realize she would have to do accounting! Luckily, you are a great friend and have the skills to help her out. You have been provided with a Project Template, with the beginning balances for the accounts. Listed below are the transactions for the month of June. Please use the project template provided for you to go through the accounting cycle for the month, and make sure you match up with the check figures provided. June Transactions to Journal: Date Amount Description 6/1 $800 Purchased Laptop with Cash 6/1 $500 Received cash for an Engagement Session 6/5 $50 Purchased Photography Equipment on Account 6/5 $30 Paid cash to travel to a remote Wedding 6/6 Billed Customers on Account for Photography Services. 6/10 $100 Paid Cash for Advertising Expense 6/20 $50 Paid $50 Accounts Payable for the 6/5 purchase. 6/21 $50 Paid cash for Repair on Camera 6/28 $60 Paid Cell Phone Bill 6/29 $50 Paid Insurance Bill for June 6/29 $1000 Billed Customers on Account for Photography Service Sales. 6/29 $750 Received Cash from customer for the work done on 6/6. 6/30 $250 Molly withdrew Cash for personal expense Adjustments to be Journaled: Depreciation Expense for the Photography Equipment was $25 for the month. Supplies at the end of the month totaled $50. $750 A B C D E 1 N 2 3 st 4 5 5 6 7 Credit Balances 00 9 100.00 9 10 11 12 13 Happy Smiles Post Closing Trial Balance 5/31/201x Debit Balances Cash $ 5,500.00 Accounts Receivable $ 750.00 Photography Equipment $ 2,000.00 Accum. Depr. - Equipment $ Laptop $ Supplies $ 100.00 $ Accounts Payable $ Capital - Molly $ Drawing - Molly Sales Advertisement Expense Depreciation Expense-Equipment Supplies Expense Insurance Expense Travel Expense Equipment Repairs Expense Cell Phone Expense $ 8,350.00 $ 1,000.00 7,250.00 14 15 16 17 18 19 20 21 22 23 24 8,350.00 D G M N B Unadjusted Trial Balance Debit Credit E Adjustments # Credit H Adjusted Trial Balance Debit Credit J Income Statement Debit Credit Balance Sheet Debit Credit Debit # 1 2 Description (Account Name) 3 Cash 4 Accounts Receivable 5 Photography Equipment 6 Accum. Depr. - Equipment 7 Laptop 8 Supplies 9 Accounts Payable 10 Capital - Molly 11 Drawing - Molly 12 Sales 13 Advertisement Expense 14 Depreciation Expense-Equipment 15 Supplies Expense 16 Insurance Expense 17 Travel Expense 18 Equipment Repairs Expense 19 Cell Phone Expense 20 Totals 21 Net Income 22 23 June Journal General Ledger June Adjusting Journal Entries Worksheet Incom +
