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Journal Entries and Trial Balance On June 1, 2019, Kris Storey established an interior decorating business, Eco-Centric Designs. During the month, Kris completed the following

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Journal Entries and Trial Balance On June 1, 2019, Kris Storey established an interior decorating business, Eco-Centric Designs. During the month, Kris completed the following transactions related to the business June 1 Kris transferred cash from a personal bank account to an account to be used for the business, $18,200. Paid rent for period of June 4 to end of month, $1,790 6 Purchased a truck for $15,000, paying $1,000 cash and giving a note payable for the remainder 8 Purchased equipment on account, $7.100 10. Purchased supplies for cash, $1,220 12. Paid annual premiums on property and casualty insurance, $2,730 15. Received cash for job completed, 57,640 Enter the following transactions on Page 2 of the two-column journal 23 Paid creditor a portion of the amount owed for equipment purchased on June 13, $2,530, 24 Recorded jobs completed on account and sent invoices to customers, 58.700 25 Received an invoice for truck expenses, to be paid in July, $800, 26 Paid Utilities expense, 5910 27 Paid miscellaneous expenses, 5330 20 Received cash from customers on account, 53,640 20 Pald wages of employees, 52.420 30 Withdrew cash for personal use. $2,020, Required 1. Journal each transaction in a two-column ouma, beginning on Page 1. referring to the following chart of accounts in selecting the accounts to be debted and credited. (00 not inwert the account numbers in the journal at this time.) Journal entry explanations may be omitted. For a compound transaction, an amount box does not require an entry, leave it blank Previous Next > eBook Show Me How Page 1 General Journal Debit Credit Post. Ref. Date Description 2019 June 11 18,200 Cash 1 31 18,200 Kris Storey, Capital June 53 Rent Expense 1,770 4 11 1,770 Cash June 18 Truck 15,000 6 11 1,000 Cash 21 14,000 Notes Payable June Equipment 16 7,100 8 22 7,100 Accounts Payable June 13 Supplies 1,220 10 11 1,220 Cash June Prepaid Insurance 14 2,730 12 Cash 11 2,730 June Cash 11 7,640 15 Fees Earned 41 7,640 MacBook Air manualGrading/previ Show Me How DEUIC CICUT FUSCRIS 2019 June 22 2,530 Accounts Payable 23 11 2,530 Cash June 12 8,700 Accounts Receivable 24 41 8,700 Fees Earned 55 800 June 25 Truck Expense 22 800 Accounts Payable 54 910 June 26 Utilities Expense 11 910 Cash 59 Miscellaneous Expense 330 June 27 11 Cash 330 June Cash 11 3,640 28 Accounts Receivable 12 3,640 June 29 Wages Expense 51 2,420 11 Cash 2,420 June 30 32 Kris Storey, Drawing 2,020 Cash 11 2,020 MacBook Air 2. Post (in chronological order) the journal to a ledger of four column accounts, inserting appropriate posting references in the general Journal as each item is posted. Extend the balances to the appropriate balance columns after each transaction is posted. If an amount box does not require an entry leave it blank General Ledger Account Cash ACCOUNT NO. 11 Balance Date Item Post. Ref. Debit Credit Debit Credit 2019 June 1 1 18,200 18,200 16,430 June 4 1 1,770 June 6 2,420 X 14,010 X June 10 1 2,420 X 11,590 X June 12 1 X X June 15 1 X June 23 2 June 20 2 X June 27 2 June 28 2 June 29 27 X June 30 27 x Account Accounts Receivable ACCOUNT NO. 12 RA Account Accounts Receivable ACCOUNT NO 12 Balance Date Item Post. Ref. Debit Credit Debit Credit 2019 June 24 X June 28 X Account Supplies ACCOUNT NO. 13 Balance Date Item Post. Ref. Debit Credit Debit Credit 2019 June 10 Account Prepaid Insurance ACCOUNT NO 14 Balance Date Item Post. Ref. Debit Credit Debit Credit 2019 June 12 X Account Equipment ACCOUNT NO. 16 eBook Show Me How 16 ACCOUNT NO. Account Equipment Balance Credit Date Item Debit Post. Ref. Debit Credit 2019 X June 8 18 ACCOUNT NO. Account Truck Balance Date Debit Credit Item Debit Credit Post. Ref. 2019 X X June 6 21 ACCOUNT NO Account Notes Payable Balance Credit Date Item Credit Debit Post. Ref. Debit 2019 X June 6 22 ACCOUNT NO. Account Accounts Payable Balance NOWV2 | Assignment x Document s/manualGrading/previewinwindow.html eBook Show Me How ACCOUNT NO. 22 Account Accounts Payable Balance Date Credit Item Debit Post. Ref. Debit Credit 2019 June 8 June 23 X June 25 X Account 31 Kris Storey, Capital ACCOUNT NO Balance Date Item Post. Ref. Debit Credit Debit Credit 2019 June 1 Account Kris Storey, Drawing ACCOUNT NO 32 Balance Date Item Post. Ref. Debit Credit Debit Credit 2019 June 30 X Account Fees Earned ACCOUNT NO. 41 is/manualGrading/previewinwindow.html eBook Show Me How Fees Earned Account 41 ACCOUNT NO. Balance Date Item Post. Ref. Debit Credit Debit Credit 2019 June 15 X June 24 X X Account Wages Expense ACCOUNT NO. 51 Balance Date Item Post. Ref. Debit Credit Debit Credit 2019 June 29 X Account Rent Expense ACCOUNT NO 53 Balance Date Item Post. Ref. Debit Credit Debit Credit 2019 June 4 Account Utilities Expense ACCOUNT NO. 54 na Account 54 Utilities Expense ACCOUNT NO Balance Date Item Post. Ref. Debit Credit Debit Credit 2019 June 26 Account Truck Expense ACCOUNT NO. 55 Balance Date Item Post. Ref. Debit Credit Debit Credit 2019 June 25 X X Account Miscellaneous Expense ACCOUNT NO. 59 Balance Date Item Post. Ref. Debit Credit Debit Credit 2019 June 27 3. Prepare an unadjusted trial balance for Eco-Centric Designs as of June 30, 2019. For those boxes in which no entry is required, leavet are filled in as an example. Eco-Centric Designs Hortistas Trial Relanca 3. Prepare an unadjusted trial balance for Eco-Centric Designs as of June 30, 2019. For those boxes in which no entry is required, leave the box blank. The first two account titles are filled in as an example Eco-Centric Designs Unadjusted Trial Balance June 30, 2019 Debit Balances Credit Balances Cash Accounts Receivable Totals Previous Totals 4. Determine the excess of revenues over expenses for June. 5. Can you think of any reason why the amount determined in (4) might not be the net income for June? 1. Fees earned includes some fees earned in the month of June that have not been received. 2. Utilities expense includes expenses incurred for the month of June than have not yet been paid 3. Some supplies may have been used during June but no supplies expense has been recorded. 4. Additions to capital has been wrongly recorded as drawings

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