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General Journal, Gevera

The document is a general journal for Gevera in May 2020. It records various financial transactions including an initial capital investment of $250,000, prepaid rent and insurance, acquiring vehicles and office equipment using cash and accounts payable, receiving and paying accounts, rendering and billing for services, paying salaries and expenses, and withdrawing owner's drawings.

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Feiya Liu
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896 views2 pages

General Journal, Gevera

The document is a general journal for Gevera in May 2020. It records various financial transactions including an initial capital investment of $250,000, prepaid rent and insurance, acquiring vehicles and office equipment using cash and accounts payable, receiving and paying accounts, rendering and billing for services, paying salaries and expenses, and withdrawing owner's drawings.

Uploaded by

Feiya Liu
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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GENERAL JOURNAL

Page 1
Date Account Title and Explanation PR DR CR
2020
May 1 Cash 250,000
Gevera, Capital 250,000
Initial investment

1 Prepaid Rent 8,000


Cash 8,000
Paid rent in advance

2 Cash 210,000
Notes Payable 210,000
Issued note for bank loan

4 Transportation Equipment 420,000


Cash 420,000
Acquired service vehicle

4 Prepaid Insurance 14,400


Cash 14,400
Paid vehicle insurance

5 Office Equipment 60,000


Cash 15,000
Accounts Payable 45,000
Acquired office equipment

8 Office Supplies 18,000


Accounts Payable 18,000
Purchased office supplies

9 Accounts Payable 10,000


Cash 10,000
Paid San Jose account

10 Cash 26,400
Service Income 26,400
Rendered wedding services

13 Salaries Expense 6,600


Cash 6,600
Paid salaries
15 Cash 10,000
Unearned Referral Income 10,000
Received referral fees in advance

19 Accounts Receivable 36,000


Service Income 36,000
Billed clients for services

25 Gevera, Drawing 14,000


Cash 14,000
Withdrawal for personal use

27 Salaries Expense 7,200


Cash 7,200
Paid salaries

30 Utilities Expense 1,400


Utilites Payable 1,400
Received telephone bill

30 Cash 24,000
Accounts Receivable 24,000
Collected customer accounts

31 Utilities Expense 3,000


Cash 3,000
Paid electricity bill

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