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, $$20,600.$

$4.$ Paid rent for period of June $4$ to end of month, $$2,000.$

$6.$ Purchased a used truck for $$17,000,$ paying $$2,000$ cash and giving a note payable for the remainder.

$8.$ Purchased equipment on account, $$8,030.$

$10.$ Purchased supplies for cash, $$1,380.$

$12.$ Paid annual premiums on property and casualty insurance, $$3,090.$

$15.$ Received cash for job completed, $$8,650.$

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 $13,$ $$2,860.$

$24.$ Recorded jobs completed on account and sent invoices to customers, $$9,850.$

$25.$ Received an invoice for truck expenses, to be paid in July, $$910.$

$26.$ Paid utilities expense, $$1,030.$

$27.$ Paid miscellaneous expenses, $$370.$

$28.$ Received cash from customers on account, $$4,120.$

$29.$ Paid wages of employees, $$2,740.$

$30.$ Withdrew cash for personal use, $$2,290.$

Required:

$1.$ Journalize each transaction in a two$-$column journal beginning on Page $1,$ referring to the following chart of

accounts in selecting the accounts to be debited and credited. $($Do not insert the account numbers in the journal at

this time.$)$ Journal entry explanations may be omitted. For a compound transaction, if an amount box does not

require an entry, leave it blank.

$11$ Cash $31$ Kris Storey, Capital

$12$ Accounts Receivable $32$ Kris Storey, Drawing

$13$ Supplies $41$ Fees Earned

$14$ Prepaid Insurance $51$ Wages Expense

$16$ Equipment $53$ Rent Expense

$18$ Truck $54$ Utilities Expense

$21$ Notes Payable $55$ Truck Expense

$22$ Accounts Payable $59$ Miscellaneous Expense

General Journal Page $1$

Date Description Post. Ref.Debit Credit

$2019$

June $1$

$$

June $4$

$$

June $6$

$$

$$

June $8$

$$

June $10$

$$

June $12$

$$

June $15$

$$

General Journal Page $2$

Date Description Post. Ref.Debit Credit

$2019$

June $23$

$$

June $24$

$$

June $25$

$$

June $26$

$$

June $27$

$$

June $28$

$$

June $29$

$$

June $30$

$$

$2.$ 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 $1$

June $4$

June $6$

June $10$

June $12$

June $15$

June $23$

June $26$

June $27$

June $28$

June $29$

June $30$

Account Accounts Receivable ACCOUNT NO$.12$

Balance

Date Item Post. Ref. Debit Credit Debit Credit

$2019$

June $24$

June $28$

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 $12$

Account Equipment ACCOUNT NO$.16$

Balance

Date Item Post. Ref. Debit Credit Debit Credit

$2019$

June $8$

Account Truck ACCOUNT NO$.18$

Balance

Date Item Post. Ref. Debit Credit Debit Credit

$2019$

June $6$

Account Notes Payable ACCOUNT NO$.21$

Balance

Date Item Post. Ref. Debit Credit Debit Credit

$2019$

June $6$

Account Accounts Payable ACCOUNT NO$.22$

Balance

Date Item Post. Ref. Debit Credit Debit Credit

$2019$

June $8$

June $23$

June $25$

Account Kris Storey, Capital ACCOUNT NO$.31$

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 $30$

Account Fees Earned ACCOUNT NO$.41$

Balance

Date Item Post. Ref. Debit Credit Debit Credit

$2019$

June $15$

June $24$

Account Wages Expense ACCOUNT NO$.51$

Balance

Date Item Post. Ref. Debit Credit Debit Credit

$2019$

June $29$

Account Rent Expense ACCOUNT NO$.53$

Balance

Date Item Post. Ref. Debit Credit Debit Credit

$2019$

June $4$

Account Utilities Expense ACCOUNT NO$.54$

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 $25$

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, 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

$5$ more Check My Work uses remaining.

Cash

Accounts Receivable

$$

$$

$$

$$

$$

$$

$$

$$

$$

$$

$$

$$

$$

$$

$4.$ Determine the excess of revenues over expenses for June.

$

$5.$ Can you think of any reason why the amount determined in $(4)$ might not