Question
On October 1st, 2022, Sonya Layne commences her own business, Layne Decorations. The following T-accounts represent the transactions posted to the relevant general ledger accounts
On October 1st, 2022, Sonya Layne commences her own business, Layne Decorations. The following T-accounts represent the transactions posted to the relevant general ledger accounts after the first month of operations.
Cash at Bank Decorating Supplies Expense
2/10/22 25,000 | 6/10/22 6,000 23/10/22 5,000 29/10/22 8,000 | 14/10/22 3,000 |
|
Accounts Receivable Rent Expense
12/10/22 12,000
|
| 23/10/22 5,000 |
|
|
Decorating Supplies Accounts Payable
6/10/22 6,000 | 14/10/22 3,000 | 29/10/22 8,000 | 5/10/22 10,000 |
Office Equipment Capital - S. Layne
5/10/22 10,000
|
| 2/10/22 45,000 |
Motor Vehicle Service Revenue
2/10/22 20,000 |
|
| 12/10/22 12,000
|
|
|
|
|
Required:
Analyse the above T-accounts and prepare the general journal entries, in date order, for the month of October. Narrations ARE required.
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