BUS 1102 WEEK 2 Learning Journal Accounting Templates PDF

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BUS 1102 WEEK 2 Learning Journal Accounting Templates...

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ACCOUNTING TEMPLATES

Basic Accounting BUS 1102

General Journal Journal #

#1

Date

Accounts and Description

10/1/2018 Cash Common Stock Initial investment: Cash received for stock ownership

#2

10/1/2018 Delivery Van - Equipment Cash Bank Loan Purchase delivery van with cash and bank loan

#3

10/3/2018 Baking Supplies Accounts Payable Purchased supplies on account

#4

10/5/2018 Pre-paid Insurance Cash Paid annual premium for insurance policy - effective 10/1/2018

#5

10/12/2018 Accounts Receivable Service Revenue Billing for baking services rendered

#6

10/18/2018 Bank Loan Cash Loan payment on van loan

#7

10/18/2018 Accounts Payable Cash Payment to baking supplies vendor

#8

10/20/2018 Salaries Expense Cash Payment of salaries

#9

10/21/2018 Cash Accounts Receivable Collections of Accounts Receivable

#10

10/25/2018 Accounts Receivable Service Revenue Billing for baking services rendered

#11

10/31/2018 Gas & Oil Expense Cash Gas and Oil (expense)

#12

10/31/2018 Dividend Cash Payment of dividend to shareholders

Adjusting entries: (a)

10/31/2018 Accounts Receivable Service Revenue Adjust for unbilled fees earned in October 2018

(b)

10/31/2010 Depreciation Expense Accumulated Depreciation Record depreciation

(c )

10/31/2010 Insurance Expense Pre-paid Insurance Adjust for the use (expense) of one month's pre-paid insurance

(d)

10/31/2018 Baking Supplies Expense Baking Supplies Adjust for the use (expense) of $600 of supplies

(e)

10/31/2018 Salaries Expense Salaries Payable To accure for employee salaries

Debit

Credit

$20,000 $20,000

$11,000 $4,000 $7,000

$900 $900

$1,800 $1,800

$4,800 $4,800

$1,500 $1,500

$500 $500

$1,700 $1,700

$1,200 $1,200

$1,900 $1,900

$500 $500

$800 $800

Debit

Credit 2500 2500

$500 $500

$150 $150

$600 $600

$500 $500

Cash Debit

Accounts Receivable Credit

(1) $20,000

Debit

Credit

(5) $4,800 $4,000 (2) $1,800 (4)

$1,200(9) (10) $1,900

$1,500 (6)

$6,700

$500 (7) $1,700 (8)

(a) $2,500

(9) $1,200 $500 (11) $800 (12) $10,400

Equipment: Van Debit

Accum. Depreciation Credit

Debit

Credit

(2) $11,000

$500 (b)

Salaries Payable Debit

Revenue Credit

Debit

Credit

$500 (e)

$4,800 (5) $1,900 (10) $6,700 $2,500 (a) $9,200 $9,200

Insurance Expense Debit (c ) $150

Supplies Expense Credit

Debit (d) $600

Credit

$150

Common Stock Debit

$600

Dividend Credit $20,000 (1)

Debit

Credit

(12) $800 $800

Pre-Paid Insurance Debit

Supplies Credit

Debit

(4) $1,800

(3) $900 $150 (c )

Accounts Payable Debit

Bank Loan Credit

Debit

$900 (3) (7) $500

(6) $1,500 $400

Gas & Oil Expense Debit

Salaries Expense Credit

Debit

(11) $500

(8) $1,700 $500 (e) $500

Depreciation Expense Debit (b) $500

Income Summary Credit

Debit

$500

$2,200 $600 $500 $200 $150 $4,450

Retained Earnings Debit

Credit $5,850 $800 $5,050

Credit

$600 (d)

Credit $7000 (2) $5,500

Credit

$2,200

Credit $8,100

$4,450

Account

Beginnng Balance Debit

Credit

Cash

0

Accounts Receivable

0

Baking Supplies

0

Prepaid Insurance

0

Equipment

0

Accumulated Deprec.

0

Accounts Payable

0

Salaries Payable

0

Bank Loan

0

Common Stock

0

Retained Earnings

0

Dividends

0

Service Revenue

0

Gas & Oil Expense

0

Baking Supplies Expense

0

Depreciation Expense

0

Insurance Expense

0

Salaries Expense

0 $0

$0

Unadjusted Trial Balance Debit

Credit

Adjusting Entries Debit

Credit

$10,400 $5,500

$2,500

a

$900

$600

d

$1,800

$150

c

$500

b

$500

e

$2,500

a

$11,000

$400 $5,500 $20,000 $800 $6,700 $500

$1,700 $32,600

$32,600

$600

d

$500

b

$150

c

$500

e

$4,250

$4,250

Adjused Trial Balance Debit

Credit

$10,400 $8,000 $300 $1,650 $11,000 $500 $400 $500 $5,500 $20,000 $800 $9,200 $500 $600 $500 $150 $2,200 $36,100

$36,100...