Make a general journal

General ledger

and trial balance

1 You contribute cash of $10000 for 100 shares of common stock in the new company. 1 Yunis Fazili.5 contribution to the business is $2,190 due on existing customer receivable accounts, $10,247 of new equipment. He receives 100 shares of common stock for this contribution. 2 Paid $10,800 for next 6 months of rent by issuing Cheque 1008 . Purchase supplies for $1,500. Cheque 1009 . Provided services for $6,351 in cash and $745 on credit during the first week of October. 9 Purchased a one-year insurance policy for $4,800; issued Cheque 1010 to pay the full amount in advance. 11 Collected a total of $395 on account from credit customer (related to October 7 sales ignore subsidiary ledger). 12 Isgued Cheque 1011 for $433 to pay for advertising on the local radio station during the month. 13 Collected a total of $500 on account from credit customers during the second week of October (ignore subsidiary ledger). 14 Returned some supplies that were damaged for a cash refund of $40. 15 Provided services for $8,500 in cash and $400 on credit during the second week of October. 18 Purchased supplies for $800 from Fellowes, Inc. received Invoice 3284, payable in 30 days. 19 Provided services for the $3,890in cash and $2,560 on credit during the third week of October. 20 Collected a total of $750 on account from credit customers during the third week of October (ignore subsidiary ledger). 21 Issued Cheque 1012 for $1,396 to pay for maintenance work on the office equipment. 22 Issued Cheque 1013 for $164 to pay for October advertisements in the local newspaper. 23 Received the monthly telephone bill (current month usage) for $235 and paid it with Cheque 1014. 23 Collected a total of $1,560 on account from credit customers during the fourth week of October (ignore subsidiary ledger). 25 Driving through town you notice that one of your new customers, a used book store, has put up an "OUT OF BUSINESS" sign in its window and the building is empty. You look and notice that the business still owes you $450 for work you've completed and invoiced - you don't expect that this amount will ever be collected. (Note: the "Allowance Method" is used to account for bad debt - recall Shpt. 4 accrual accounting discussion). 26 Sent Cheque 1016 for $235 in payment of the monthly bill for utilities. 27 Provided services for $5,890 in cash and $675 on credit during the fourth week of October. 28 Issued Cheques 1017-1022 for $5,913 to pay the monthly salaries of the regular employees and three part-time workers. 30 Issued Cheque 1023 for $415 to pay for cleaning services (ie Maintenance Expense) for the month. 30 Purchased additional equipment for $6,000 from Master Equipment Company; issued Cheque 1024 for $2,200 and negotiated a loan (ie Note Payable) for the remainder. The equipment has a five-year life and no salvage value. 30 Received advance payment for tax work for new clients in the amount of $2,738. 30 Provided services for $545 in cash and $325 on crledit on October 30