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IT5 Activity 1 - Journal Entries

This document contains a journal entry listing 30 transactions involving rent expense, prepaid insurance, service revenues, office supplies, advertising expense, gas and oil expense, equipment, furniture, accounts payable, school fees, accounts receivable, withdrawals, repair expense, miscellaneous expense, utilities expense, salaries expense, and equipment. Cash, accounts payable, and capital accounts are debited or credited for each transaction.

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CelineAbbeyMangalindan
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278 views2 pages

IT5 Activity 1 - Journal Entries

This document contains a journal entry listing 30 transactions involving rent expense, prepaid insurance, service revenues, office supplies, advertising expense, gas and oil expense, equipment, furniture, accounts payable, school fees, accounts receivable, withdrawals, repair expense, miscellaneous expense, utilities expense, salaries expense, and equipment. Cash, accounts payable, and capital accounts are debited or credited for each transaction.

Uploaded by

CelineAbbeyMangalindan
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as XLSX, PDF, TXT or read online on Scribd
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d.

Journal Entry of transactions


1 Rent Expense
Cash

27,000

2 Prepaid Insurance
Accounts Payable

16,500

3 Cash
Service Revenues

65,000

4 Office Supplies
Accounts Payable

8,500

5 Advertising Expense
Accounts Payable

32,000

6 Gas and Oil Expense


Cash

4,000

7 Equipment
Accounts Payable

100,000

8 Furniture
Cash
Accounts Payable

18,800

9 Accounts Payable
Cash

17,000

10 Accounts Payable
Cash

32,000

11 Cash
School Fees

62,500

12 Cash
Accounts Receivable
13 Accounts Receivable
Service Revenues

27,000

16,500

65,000

8,500

32,000

4,000

100,000

8,800
10,000

17,000

32,000

62,500
120,000
120,000
70,000
70,000

14 Smith, Withdrawals
Cash

6,000

15 Accounts Payable
Repair Expense

2,880

6,000

2,880

16 Accounts Payable
Cash

8,500

17 Accounts Payable
Cash

100,000

18 Miscellaneous Expense
Cash

8,500

100,000
620
620

19 Office Supplies
Accounts Payable

29,000

20 Equipment
Accounts Payable

10,300

21 Utilities Expense
Cash

10,500

22 Cash
Accounts Receivable
23 Cash
School Fees
24 Cash
Accounts Receivable

29,000

10,300

10,500
7,000
7,000
61,400
61,400
7,000
7,000

25 Salaries Expense
Cash

46,000

26 Utillities Expense
Cash

3,500

27 Utilities Expense
Cash

2,800

46,000

3,500

2,800

28 Gas and Oil Expense


Accounts Payable

32,500

29 Smith, Withdrawals
Cash

11,000

30 Equipment
Smith, Capital

12,300

32,500

11,000

12,300

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