Show Me How Calculator Journal Entries and Trial Balance 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, $30,900 Paid rent for period of June 4 to end of month, $3,000. 4. 6. Purchased a used truck for $26,000, paying $2,000 cash and giving a note payable for the remainder 8. Purchased equipment on account, $12,050. 10. Purchased supplies for cash, $2,070 12. Paid annual premiums on property and casualty Insurance, 54,640. 15. Received cash for job completed, $12.980. Enter the following transactions on Page 2 of the two-column journal: 23. 24. 25. 26. 27. Paid creditor a portion of the amount owed for equipment purchased on June 13, 94,300. Recorded jobs completed on account and sent involves to customers, $14,770. Received an invoice for truck expenses, to be paid in July 31,360 Pald utilities expense, 51,550. Paid miscellaneous expenses $560 Received cash from customers on account. $6.180 28. 29. 30. Paid wages of employees, $4,110. Withdrew cash for personal use, $3,430. 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 55 Truck Expense 21 Notes Payable 22 Accounts Payable 59 Miscellaneous Expense General Journal Page 1 Credit Date Description Post. Ref. Debit 2019 Check My Work 3 ore Check My Workesroman 12:25 AM 4222 June 27 June 28 June 29 June 30 Accounts Receivable ACCOUNT NO. Account Balance Debit Credit Credit Debit Date Item Post. Ref. 2019 June 24 June 28 ACCOUNT NO. 13 Supplies Account Balance Debit Debit Credit Post. Ref. Item Date 2019 Check My Work 3 more Check My Work uses remaining 12:25 AM A. 60 do 1/27/2020 a * O RP 1 Account Supplies ACCOUNT NO. 13 Balance Date Item Post. Rel. Debit Credit Debit Credit 2019 June 10 Account Prepaid Insurance ACCOUNT NO. Balance Date Item Post. Ref. Debit Credit Debit Credit 2019 June 12 ACCOUNT NO. 16 Equipment Account Balance Date Item Post. Ref. Debit 2019 Previous Next > Check My Work 3 more Check My Work uses remaining 12:25 AM Account Equipment 16 ACCOUNT NO. Balance Debit Date Item Post. Ref. Debit Credit Credit 2019 June 8 Account Truck ACCOUNT NO. 18 Balance Date Item Post. Ref. Debit Credit Debit Credit 2019 June 6 21 Account Notes Payable ACCOUNT NO. Balance Debit Credit Debit Credit Date Item Post. Rel. 2019 Next Previous Check My Work 3 more Check My Work uses remaining - 4 do 12:25 AM 121/2000 Account Notes Payable ACCOUNT NO. 21 Balance Date Item Post. Ref. Debit Credit Debit Credit 2019 Dune 6 ACCOUNT NO. 22 Account Accounts Payable Balance Credit Debit Credit Date Item Post. Ref. 2019 June 8 June 23 June 25 31 ACCOUNT NO. Kris Storey. Capital Account Previous Next) SAM od of Check My Work more Check My Work usernam 3. Prepare an adjusted trial balance for Eco-Centre Designs as of June 30, 2019. For those boxes in which so entry is required, leave the box Bank The first two accounts are filled in as an example Eco-Centric Designs Unadjusted Trial Balance June 30, 2019 Debit Balances Credit Balances Accounts Receivable > A. 4 do 2000 here to such Uncatessymment session catorcenprogress-raise eBook Show Me How Calculator 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 be the net income for June? 1. Fees earned includes some fees earned in the month of June that have not been received. 2. Utilities expense includes expenses incurred for the month of June than have not yet been paid. 3. Some supplies may have been used during June but no supplies expense has been recorded. 4. Additions to capital has been wrongly recorded as drawings