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JC 01 fo TH The Learning journal is a space where you should reflect on what was learned during the week and how it applies to your daily life and will help you with your life (career goals. Please complete the following tasks: Happy House Bakeshop uses a cash receipts journal, a sales journal purchases journal, cash disbursements journal, cash receipts journal, and a general journal. 1. Identify which journal should be used to record each of the following transactions? A. Adjusting entry to record depreciation B. Purchase of baking equipment on credit C. Sale of merchandise on credit D. Sale of merchandise for cash E. Cash refund to a customer who returned a product that was purchased F. Return of merchandise to a vendor that was damage G. Payment of property taxes H. Purchase of a delivery van for cash 1. Purchase of merchandise on credit 2. Explain how special journals can benefit accounting personnel 3. Explain what you have learned about companies using special journals. 4. What information covered in Unit 4 interest you most and why E. Cash refund to a customer who returned a product that was purchased F. Return of merchandise to a vendor that was damage G. Payment of property taxes H. Purchase of a delivery van for cash 1. Purchase of merchandise on credit 2. Explain how special journals can benefit accounting personnel 3. Explain what you have learned about companies using special journals. 4. What information covered in Unit 4 interest you most and why? Be sure that your Learning Journal entry is a minimum of 500 words. Make sure you cite and reference your sources of information in the APA format. Trial Balance October 31st Debit Credit A A A A 10,400 8,000 300 1,650 11,000 S Account Head Cash Accounts Recievable Baking Supplies Prepaid Insurance Delivery Van-Equipment Accumulated Depreciation Equipment Accounts Payable Salaries Payable Bank Loan Common Stock Dividends Service Revenue Salaries Expense Baking Supplies Expense Insurance Expense Oil and Gas Expense Depreciation Expense CA A A S $ 500 400 500 5,500 20,000 S 9,200 S S $ $ 800 $ 2,200 600 150 500 500 36,100 $ $ $ 36,100 Happy House Bakeshop Income Statement for period of October 1 through October 31, 2018 Revenue 9,200 $ A Less: Expenses Salaries Baking Supplies Gas & Oil Depreciation Insurance Total Expenses Net Income $ $ 2,200 600 500 500 150 S (3,950) 7 8 5,250 19 20 21 22 23 Happy House Bakeshop Statement of Retained Earnings For the month ended October 31, 2018 Beginning Retained Earnings Net Income 1 Dividends 2 Ending Retained Earnings 3 $ $ $ $ 5,250 (800) $ $ 4,450 4 5 16 General Journal lournal # Date Accounts and Description Debit Credit $20,000 10/1/2018 Cash Common Stock Initial investment: Cash received for stock ownership $20,000 #2 $11,000 10/1/2018 Delivery Van-Equipment Cash Bank Loan Purchase delivery van with cash and bank loan $4,000 $7.000 $900 10/3/2018 Baking Supplies Accounts Payable Purchased supplies on account $900 4 5 #3 16 17 18 19 #4 20 21 22 $1,800 10/5/2018 Pre-paid Insurance Cash Paid annual premium for insurance policy - effective 10/1/2018 $1,800 B $1,800 Cash Paid annual premium for insurance policy - effective 10/1/2018 $4,800 10/12/2018 Accounts Receivable Service Revenue Billing for baking services rendered $4,800 6 10/18/2018 Bank Loan $1,500 Cash $1,500 Loan payment on van loan #7 $500 10/18/2018 Accounts Payable Cash Payment to baking supplies vendor $500 3 4 10/20/2018 Salaries Expense $1,700 Cash $1,700 35 #8 36 37 38 39 #9 40 Payment of salaries $1,200 10/21/2018 Cash Accounts Receivable Collections of Accounts Receivable $1,200 D E F $1,200 $1,900 $1,900 $500 $500 B 40 Accounts Receivable 41 Collections of Accounts Receivable 42 43 #10 10/25/2018 Accounts Receivable 44 Service Revenue 45 Billing for baking services rendered 46 47 #11 10/31/2018 Gas & Oil Expense 48 Cash 49 Gas and Oil (expense) 50 51 #12 10/31/2018 Dividend 52 Cash 53 Payment of dividend to shareholders 54 55 Adjusting entries: 56 10/31/2018 Accounts Receivable 58 Service Revenue 59 Adjust for unbilled fees earned in October 2018 60 61b 10/31/2010 Depreciation Expense $800 $800 57 ) Credit Debit 2500 2500 B D E Service Revenue Adjust for unbilled fees earned in October 2018 F 2500 $500 10/31/2010 Depreciation Expense Accumulated Depreciation Record depreciation $500 10/31/2010 Insurance Expense Pre-paid Insurance Adjust for the use (expense) of one month's pre-paid insurance $150 $150 10/31/2018 Baking Supplies Expense Baking Supplies Adjust for the use (expense) of $600 of supplies $600 $600 10/31/2018 Salaries Expense Salaries Payable To accure for employee salaries $500 $500

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