Using this sheet and create T accounts along with a Adjusted balances sheet.
ACCOUNTING PROJECT JOURNAL ENTRIES OCT: - 10/1 - $1,500 rent check cut \& mailed to landlord for office - 10/3 - $213 Office supplies ordered online using Office Depot credit account - 10/5 - $5,000 payment received from client/customer for services provided in Oct - 10/7 - \$2,050 payroll direct deposited to employees - 10/15 - $10,000 payment received from client/customer for services provided in Oct - 10/22 - 52,050 payroll direct deposited to employees NOV- - 11/2 - $1,500 rent check cut \& mailed to landlord for office - 11/4 - \$6,000 services rendered to client/customer but not yet paid - 11/7 - $2,050 payroll direct deposited to employees - 11/13 - 545,000 small biz loan obtained (5\% APR, 2 years int only, 365 basis) - 11/22 - \$2,050 payroll direct deposited to employees - 11/30-53,013 annual business insurance renewed (policy covers Dec- Nov)* DEC: - 12/1- $1,500 rent check cut \& mailed to landlord for office - 12/7 - \$2,050 payroll direct deposited to employees - 12/13-5 interest payment directly debited from bank account for SBL - 12/1859,744 cash spent on company holiday party - 12/22 - 57,050 payroll direct deposited to employees - 12/28 - \$5,000 payment received from client/customer for November services Adjusting entry will be needed every month to expense this from Dec through Nov of next year. ACCOUNTING PROJECT JOURNAL ENTRIES OCT: - 10/1 - $1,500 rent check cut \& mailed to landlord for office - 10/3 - $213 Office supplies ordered online using Office Depot credit account - 10/5 - $5,000 payment received from client/customer for services provided in Oct - 10/7 - \$2,050 payroll direct deposited to employees - 10/15 - $10,000 payment received from client/customer for services provided in Oct - 10/22 - 52,050 payroll direct deposited to employees NOV- - 11/2 - $1,500 rent check cut \& mailed to landlord for office - 11/4 - \$6,000 services rendered to client/customer but not yet paid - 11/7 - $2,050 payroll direct deposited to employees - 11/13 - 545,000 small biz loan obtained (5\% APR, 2 years int only, 365 basis) - 11/22 - \$2,050 payroll direct deposited to employees - 11/30-53,013 annual business insurance renewed (policy covers Dec- Nov)* DEC: - 12/1- $1,500 rent check cut \& mailed to landlord for office - 12/7 - \$2,050 payroll direct deposited to employees - 12/13-5 interest payment directly debited from bank account for SBL - 12/1859,744 cash spent on company holiday party - 12/22 - 57,050 payroll direct deposited to employees - 12/28 - \$5,000 payment received from client/customer for November services Adjusting entry will be needed every month to expense this from Dec through Nov of next year
