Middle Bay Logistics Company Chart of Accounts

Assets: Cash Accounts Receivable Office Supplies Prepaid Insurance Office Equipment Trucks

Liabilities: Accounts Payable

Capital: L. Maloney, Capital L. Maloney, Withdrawals

Revenue: Delivery Fees Expense Wages Expense Rent Expense Utilities Expense Fuel Expense Miscellaneous Expense

Journalize the transactions for the Middle Bay Logistics Company for the month ending, September 30, 2020 On September 1, , Lars Maloney invested $35,000 cash, office equipment with a market value of $5,000, and a truck with a market value of $25,000 in exchange for capital to launch the Middle Bay Logistics Company, a delivery firm.

On Setember 2, the company paid $1,500 cash for a 12-month, business insurance policy. On September 03, the company paid cash, $80, for fuel.

On September 05, the company earned and was paid cash for delivery services, $450.

On September 06, the company paid $600 cash for office supplies.

On September 08, the company purchased fuel, $100, on account.

On September 09, the company earned $350, on account, for delivery services.

On September 10, the company purchased an additional truck, paying $8,000 cash.

On September 14, the company paid $800 cash for wages to a delivery driver.

On September 15, the company was paid $2,675 cash for delivery services.

On September 16, the company purchased fuel, on account, $150.

On September 20 the company paid $200, on account, for fuel purchases.

On September 25, the company received $200 cash, on account

On September 27, the company paid $600 cash for utililities.

On September 30, L. Maloney withdrew $5,600 cash for personal use.

On September 30, the company earned $875 for delivery services, on account.

On September 30, the company paid $800 cash for wages to a delivery driver.

On September 30, the company paid $1,500 for rent of office and warehouse use.

On September 30, the company paid $65 cash for miscellaneous expenses.

post to ledger

Cash No. 111

Balance Date Item Post Ref. Debit Credit Debit Credit

Accounts Receivable No. 115 Balance Date Item Post Ref. Debit Credit Debit Credit

Office Supplies No. 116 Balance Date Item Post Ref. Debit Credit Debit Credit

Prepaid Insurance No. 120 Balance Date Item Post Ref. Debit Credit Debit Credit

Office Equipment No. 121 Balance Date Item Post Ref. Debit Credit Debit Credit

Trucks No. 122 Balance Date Item Post Ref. Debit Credit Debit Credit

Accounts Payable No. 200 Balance Date Item Post Ref. Debit Credit Debit Credit

L. Maloney, Capital No. 301 Balance Date Item Post Ref. Debit Credit Debit Credit

L. Maloney, Withdrawals No. 302 Balance Date Item Post Ref. Debit Credit Debit

Credit Delilvery Fees No. 400 Balance Date Item Post Ref. Debit Credit Debit Credit

Wages Expense No. 501 Balance Date Item Post Ref. Debit Credit Debit Credit

Rent Expense No. 503 Balance Date Item Post Ref. Debit Credit Debit

Credit Utilities Expense No. 504 Balance Date Item Post Ref. Debit Credit Debit

Credit Fuel Expense No . 505 Date Item Post Ref. Debit Credit Debit Credit

Miscellaneous Expense No . 506 Date Item Post Ref. Debit Credit Debit Credit

Middle Bay Logistics Company Trial Balance Month Ending, September 30, 2020 Debit Credit:

Cash

Accounts Receivable

Office Supplies

Prepaid Insurance

Office Equipment

Trucks

Accounts Payable

L. Maloney, Capital

L. Maloney, Withdrawals

Delivery Fees

Wages Expense

Rent Expense

Utilities Expense

Fuel Expense

Miscellaneous Expense

Totals=