HOME design Ltd

GENERAL JOURNAL
No.	Date	Account Titles and Explanation	Debit	Credit

2, T-account

Assets			Liabilities			Equity

3. Trial Balance

Home Design Ltd was founded in 1984, scoring as one of the first global architectural firms focused exclusively on interiors. As leaders in intelligent workplace design, Home Design Ltd helps clients in diverse markets worldwide articulate and align their business strategies and core values with the dynamic use of space. During month of December 2019, the following transactions happened for the company Home Design Ltd: 1-Dec Shareholders invested $500,000 cash in the business in exchange for shares. 8 Purchased a Land costing $200,000 and Supply for $80,000 on account 9 Paid in advance for one-year the insurance, $20,000 cash. 11 Received $5,000 cash from customer for services not performed yet. 15 Performed services and billed customer for services performed $50,000. 20 20 Received half of the amount in cash from the billed customers on December 15th 25 Paid $70,000 cash for the purchase on account on December 8th 28 Borrowed $30,000 cash from the bank by signing a note. The note is due in 2025. 29 Purchased equipment costing $5,000 cash. 29 Declared and paid cash dividends to shareholders for $6,000. 30 Paid interest of the month, $700. Requirements: 1) General Excel/Word structure (5 Points) 2) Record the transactions into the General Journal: (57.5Points) 3) Record the transactions into the related T-Accounts: (29 Points) 4) Prepare a Trial Balance for the month of December 2019. (8.5 Points)