I need help filling out the excel I have the journal entries. 
Journal Entry Debit Credit 9. Purchased 3 months of Advertising for $2,400, paying a $240 cash down payment with the Transactions to journalize. 1. The Knock'm Down law firm opened business bank account by depositing $25,000. Office Furniture $3,600 remainder on account. Journal Entry Debit Credit Cash (bank account) $360 Journal Entry Debit Credit Bank account $25,000 Hill Office Supply $3,240 Advertisement expense $2,400 Cash $25,000 Cash (bank account) $240 Advertisement Expense Payable $2,160 2. Received a loan from the bank for $30,000. Terms 5 years, no interest. 6. Write the Straight-Line Depreciation formula. (cost of the asset - Salvage value) Annual depreciation expense = useful life of assset Journal Entry Debit Credit 10. Invoiced for Service Fees performed; ]] Watt $7,200, D. Watson $5,800, T. Savage $4,500 & J. 3600-0/36=100 Bank account $30,000 Clownex $4,500. Enter as separate Accounts Receivable transactions. Journal Entry Debit Credit Loans for 5 years $30,000 Journal Entry Debit Credit Depreciation acoount $1,200 JJ Watt A/C $7,200 Office equipment $1,200 3. Purchased supplies with a check, $950 D. Watson A/C $5,800 Journal Entry Debit Credit T. Savage A/C $4,500 7. Received a Rent bill for $2,200. Supplies $950 J. Clowney A/C $4,500 Journal Entry Debit Credit Cash (bank account) $950 Service fee (Revenue) $22,000 Rent expense $2,200 Rent payable $2,200 4. Purchased a 1-year business Insurance policy with a check, $1,896. 11. Purchased office computers from William's Computers for $8,640, paying $2,000 cash with the Journal Entry Debit Credit 8. Received an Internet bill for $180. remainder on account. Payments terms 36 months, no interest. Depreciate over 3 years with no Prepaid insurance $1,896 salvage value. Cash (bank account) $1,896 Journal Entry Debit Credit Journal Entry Debit Credit Internet Expense $180 Office Computer $8,640 5. Purchased office furniture from Hill Office Supply for $3,600, paying 10% cash with the Internet expense payable $180 Cash $2,000 remainder on account. Payments terms 18 months, no interest. Depreciate over 36 months with William's Computers A/C no salvage value. $6,640 1 2 Journal Entry Debit Credit Journal Entry Debit Credit 19. Paid $400 to Hill Office Supply. Depreciation A/C $2,880 Salary expense A/C $1,975 Journal Entry Debit Credit Journal Entry Debit Credit Journal Entry Debit Credit 19. Paid $400 to Hill Office Supply. Depreciation A/C $2,880 Salary expense A/C $1,975 Journal Entry Debit Credit Office Computer A/C $2,880 Jeff A/c payable $1,975 Hill Office Supply A/C $400 8640-0/3 years=$2880, so $240 per month Cash A/C $400 12. Collected cash Service Fees; $3,850, $4,800, $4,500 & $3,500. Enter separately. 16. Accrued employee Ann's salary of $2,250. Journal Entry Debit Credit Journal Entry Debit Credit 20. Paid $500 to William's Computers. Cash A/C $3,850 Salary expense A/C $2,250 Debit Cash A/C $4,800 Credit $2,250 Ann A/c payable Journal Entry Cash Alc $4,500 William's Computers A/C $500 Cash A/C Cash A/C $500 $3,500 17. Paid the Rent, Internet, Electric and Telephone bills in full. Service fee (Revenue A/C $16,650 Journal Entry Debit Credit 21. Supplies inventory remaining at the end of period is $600. Rent expense payable A/C $2,200 13. Received an Electric bill for $840. Internet expense payable A/C $180 22. Adjust the Insurance account. Journal Entry Debit Credit Electricity expense payable A/C $840 Journal Entry Debit Credit Electricity expense A/C $840 Telephone expense payable A/C $380 Insurance Expense A/C $1,896 Electricity expense payable A/C $840 Cash Al $3,600 Prepaid Insurance A/C $1,896 14. Received a Telephone bill for 380. 18. Paid all salaries. Journal Entry Debit Credit Journal Entry 23. Adjust the Office Equipment deprecation account. Debit Credit Telephone Expense A/C $380 Jeff A/c payable $1,975 24. Adjust the Computer deprecation account. Telephone Expense Payable A/C $380 Ann A/c payable $2,250 Cash A/C $4,225 25. Foot and Balance all accounts. 15. Accrued employee Jeff's salary of $1,975. 14. Received a Telephone bill for 380. 18. Paid all salaries. Journal Entry Debit Credit Journal Entry Debit Credit 23. Adjust the Office Equipment deprecation account. Telephone Expense A/C $380 Jeff A/c payable $1,975 24. Adjust the Computer deprecation account. Telephone Expense Payable A/C $380 Ann A/c payable $2,250 Cash A/C $4,225 25. Foot and Balance all accounts. 15. Accrued employee Jeff's salary of $1,975. 5 26. Prepare a Trial Balance sheet. (Do not adjust the accounts again.) 27. Prepare the Income Statement 28. Prepare the Statement of Owner's Equity 29. Prepare the Balance Sheet 30. Explain why the financial reports are to be prepared in order. OneDrive Screenshot saved The screenshot was added to your OneDrive. Quiz 2a Assets Liabilities Ovner's Equit Income Statement Debit Credit Balance Sheet Debit Credit Balance Sheet Accounts Income Statement Accounts Income Statement Revenue Service Fees 1000 Assets Credit 2000 Liabilities Debit Credit + 3000 3010 Common Stock .etained Earning Debit Credit Debit Credit + 3020 Dividends. Debit Credit 4000 Revenue Debit Credit + 5000 Expenses Debit Credit Debit 2000 Bank Loan #### 3000 3030 Common Stock ncome Summar #### 5000 Rent Expense Asset - 1000 Cash / Checking 25,000 950 30.000 1.896 7,200 360 5.800 240 4.500 2,000 4.500 4000 Service Fees 7,200 5.800 4,500 4.500 Expenses Rent Internet Electric Telephone Salaries Supplies Insurance Depreciation Total Expenses Net Income (30,000) ) 5 years 25,000 25,000 Adjusted Trial Balance Debit Credit Assets 1000 Cash/Checking 1010 Supplies 1020 Bus. Insurance 1030 Hill Office Supply 1031 Acc. Dep. Hill Office Supply 1040 Advertising 1050-1 JJ Watt 1 1051-2 D. Watson 1052 -3 T. Savage 1053 . 4 J. Clowney 1060 William's Computers 1061 Acc. Dep. William's Computers Liabilities 2000 Bank Loan 2010 Hill Office Furniture 2020 Rent 2030 Internet 2040 Advertising 2050 William's Computers 2030 Electric 2040 Telephone 2050 Salaries Owner's Equi 3000 Common Stock Revenue 4000 Service Fees Expenses 5000 Rent Expense 5010 Internet Expense 5020 Electric Expense 5030 Telephone Expense 5040 Salaries Expense 5050 Supplies Expense 5060 Insurance Expense 5070 Depreciation Expense 5080 Advertising Expense Retained Earnings Net Income 22,000 Retained Earnings, Beginning Net Income Dividends Change in Retained Earnings Retained Earnings, Ending 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 5010 Internet Expense 5,446 2010 3010 Hill Office Furniturtetained Earning 3,240 (3.240) 77.000 71,554 | Balance Sheet Liabilities Bank Loan Hill Office Supply Advertising William's Computers Assets Cash/Checking Supplies Bus. Insurance Hill Office Supply Acc. Dep. Hill Office Supply 3020 Dividends 2020 Rent 2.200 (2.200) 5020 Electric Expense 1010 Supplies 950 950 Owner's Equity Common Stock Retained Earnings Dividends 5030 Telephone Espens AIR Total AIP Total 2030 Internet 180 (180) Net Income Advertising JJ Watt D. Watson T. Savage J. Clowney William's Computers Acc. Dep. William's Computers 1020 Bus. Insurance 1.896 1,896 Salaries Expense Advertising 240 2.400 (2.160) - 1030 Hill Office Furniture 3.600 5050 Supplies Expense 2050 Filliam's Computer 2,000 8,640 (6.640) 3,600 | 1031 2060 5060 Journal Entry Debit Credit 9. Purchased 3 months of Advertising for $2,400, paying a $240 cash down payment with the Transactions to journalize. 1. The Knock'm Down law firm opened business bank account by depositing $25,000. Office Furniture $3,600 remainder on account. Journal Entry Debit Credit Cash (bank account) $360 Journal Entry Debit Credit Bank account $25,000 Hill Office Supply $3,240 Advertisement expense $2,400 Cash $25,000 Cash (bank account) $240 Advertisement Expense Payable $2,160 2. Received a loan from the bank for $30,000. Terms 5 years, no interest. 6. Write the Straight-Line Depreciation formula. (cost of the asset - Salvage value) Annual depreciation expense = useful life of assset Journal Entry Debit Credit 10. Invoiced for Service Fees performed; ]] Watt $7,200, D. Watson $5,800, T. Savage $4,500 & J. 3600-0/36=100 Bank account $30,000 Clownex $4,500. Enter as separate Accounts Receivable transactions. Journal Entry Debit Credit Loans for 5 years $30,000 Journal Entry Debit Credit Depreciation acoount $1,200 JJ Watt A/C $7,200 Office equipment $1,200 3. Purchased supplies with a check, $950 D. Watson A/C $5,800 Journal Entry Debit Credit T. Savage A/C $4,500 7. Received a Rent bill for $2,200. Supplies $950 J. Clowney A/C $4,500 Journal Entry Debit Credit Cash (bank account) $950 Service fee (Revenue) $22,000 Rent expense $2,200 Rent payable $2,200 4. Purchased a 1-year business Insurance policy with a check, $1,896. 11. Purchased office computers from William's Computers for $8,640, paying $2,000 cash with the Journal Entry Debit Credit 8. Received an Internet bill for $180. remainder on account. Payments terms 36 months, no interest. Depreciate over 3 years with no Prepaid insurance $1,896 salvage value. Cash (bank account) $1,896 Journal Entry Debit Credit Journal Entry Debit Credit Internet Expense $180 Office Computer $8,640 5. Purchased office furniture from Hill Office Supply for $3,600, paying 10% cash with the Internet expense payable $180 Cash $2,000 remainder on account. Payments terms 18 months, no interest. Depreciate over 36 months with William's Computers A/C no salvage value. $6,640 1 2 Journal Entry Debit Credit Journal Entry Debit Credit 19. Paid $400 to Hill Office Supply. Depreciation A/C $2,880 Salary expense A/C $1,975 Journal Entry Debit Credit Journal Entry Debit Credit Journal Entry Debit Credit 19. Paid $400 to Hill Office Supply. Depreciation A/C $2,880 Salary expense A/C $1,975 Journal Entry Debit Credit Office Computer A/C $2,880 Jeff A/c payable $1,975 Hill Office Supply A/C $400 8640-0/3 years=$2880, so $240 per month Cash A/C $400 12. Collected cash Service Fees; $3,850, $4,800, $4,500 & $3,500. Enter separately. 16. Accrued employee Ann's salary of $2,250. Journal Entry Debit Credit Journal Entry Debit Credit 20. Paid $500 to William's Computers. Cash A/C $3,850 Salary expense A/C $2,250 Debit Cash A/C $4,800 Credit $2,250 Ann A/c payable Journal Entry Cash Alc $4,500 William's Computers A/C $500 Cash A/C Cash A/C $500 $3,500 17. Paid the Rent, Internet, Electric and Telephone bills in full. Service fee (Revenue A/C $16,650 Journal Entry Debit Credit 21. Supplies inventory remaining at the end of period is $600. Rent expense payable A/C $2,200 13. Received an Electric bill for $840. Internet expense payable A/C $180 22. Adjust the Insurance account. Journal Entry Debit Credit Electricity expense payable A/C $840 Journal Entry Debit Credit Electricity expense A/C $840 Telephone expense payable A/C $380 Insurance Expense A/C $1,896 Electricity expense payable A/C $840 Cash Al $3,600 Prepaid Insurance A/C $1,896 14. Received a Telephone bill for 380. 18. Paid all salaries. Journal Entry Debit Credit Journal Entry 23. Adjust the Office Equipment deprecation account. Debit Credit Telephone Expense A/C $380 Jeff A/c payable $1,975 24. Adjust the Computer deprecation account. Telephone Expense Payable A/C $380 Ann A/c payable $2,250 Cash A/C $4,225 25. Foot and Balance all accounts. 15. Accrued employee Jeff's salary of $1,975. 14. Received a Telephone bill for 380. 18. Paid all salaries. Journal Entry Debit Credit Journal Entry Debit Credit 23. Adjust the Office Equipment deprecation account. Telephone Expense A/C $380 Jeff A/c payable $1,975 24. Adjust the Computer deprecation account. Telephone Expense Payable A/C $380 Ann A/c payable $2,250 Cash A/C $4,225 25. Foot and Balance all accounts. 15. Accrued employee Jeff's salary of $1,975. 5 26. Prepare a Trial Balance sheet. (Do not adjust the accounts again.) 27. Prepare the Income Statement 28. Prepare the Statement of Owner's Equity 29. Prepare the Balance Sheet 30. Explain why the financial reports are to be prepared in order. OneDrive Screenshot saved The screenshot was added to your OneDrive. Quiz 2a Assets Liabilities Ovner's Equit Income Statement Debit Credit Balance Sheet Debit Credit Balance Sheet Accounts Income Statement Accounts Income Statement Revenue Service Fees 1000 Assets Credit 2000 Liabilities Debit Credit + 3000 3010 Common Stock .etained Earning Debit Credit Debit Credit + 3020 Dividends. Debit Credit 4000 Revenue Debit Credit + 5000 Expenses Debit Credit Debit 2000 Bank Loan #### 3000 3030 Common Stock ncome Summar #### 5000 Rent Expense Asset - 1000 Cash / Checking 25,000 950 30.000 1.896 7,200 360 5.800 240 4.500 2,000 4.500 4000 Service Fees 7,200 5.800 4,500 4.500 Expenses Rent Internet Electric Telephone Salaries Supplies Insurance Depreciation Total Expenses Net Income (30,000) ) 5 years 25,000 25,000 Adjusted Trial Balance Debit Credit Assets 1000 Cash/Checking 1010 Supplies 1020 Bus. Insurance 1030 Hill Office Supply 1031 Acc. Dep. Hill Office Supply 1040 Advertising 1050-1 JJ Watt 1 1051-2 D. Watson 1052 -3 T. Savage 1053 . 4 J. Clowney 1060 William's Computers 1061 Acc. Dep. William's Computers Liabilities 2000 Bank Loan 2010 Hill Office Furniture 2020 Rent 2030 Internet 2040 Advertising 2050 William's Computers 2030 Electric 2040 Telephone 2050 Salaries Owner's Equi 3000 Common Stock Revenue 4000 Service Fees Expenses 5000 Rent Expense 5010 Internet Expense 5020 Electric Expense 5030 Telephone Expense 5040 Salaries Expense 5050 Supplies Expense 5060 Insurance Expense 5070 Depreciation Expense 5080 Advertising Expense Retained Earnings Net Income 22,000 Retained Earnings, Beginning Net Income Dividends Change in Retained Earnings Retained Earnings, Ending 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 5010 Internet Expense 5,446 2010 3010 Hill Office Furniturtetained Earning 3,240 (3.240) 77.000 71,554 | Balance Sheet Liabilities Bank Loan Hill Office Supply Advertising William's Computers Assets Cash/Checking Supplies Bus. Insurance Hill Office Supply Acc. Dep. Hill Office Supply 3020 Dividends 2020 Rent 2.200 (2.200) 5020 Electric Expense 1010 Supplies 950 950 Owner's Equity Common Stock Retained Earnings Dividends 5030 Telephone Espens AIR Total AIP Total 2030 Internet 180 (180) Net Income Advertising JJ Watt D. Watson T. Savage J. Clowney William's Computers Acc. Dep. William's Computers 1020 Bus. Insurance 1.896 1,896 Salaries Expense Advertising 240 2.400 (2.160) - 1030 Hill Office Furniture 3.600 5050 Supplies Expense 2050 Filliam's Computer 2,000 8,640 (6.640) 3,600 | 1031 2060 5060
