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General Journal Best

The document records various transactions from January 1 to March 31 for a laundry service business. It provides instructions to record the transactions in a general journal with two columns for debits and credits, and then post the journal entries to T-accounts. The general journal lists transactions for cash, supplies, accounts receivable, prepaid rent and insurance, equipment, accounts payable, capital, drawings, revenue, salaries and utilities expenses. The T-accounts show the ledger accounts with debits, credits and balances for items like cash, supplies, accounts receivable, prepaid expenses, equipment, accounts payable, capital, drawings and expenses.

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Nhatty Wero
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382 views12 pages

General Journal Best

The document records various transactions from January 1 to March 31 for a laundry service business. It provides instructions to record the transactions in a general journal with two columns for debits and credits, and then post the journal entries to T-accounts. The general journal lists transactions for cash, supplies, accounts receivable, prepaid rent and insurance, equipment, accounts payable, capital, drawings, revenue, salaries and utilities expenses. The T-accounts show the ledger accounts with debits, credits and balances for items like cash, supplies, accounts receivable, prepaid expenses, equipment, accounts payable, capital, drawings and expenses.

Uploaded by

Nhatty Wero
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Instruction 1: Record the following transaction in a two-column Journal

General Journal
Date Account Post Ref Debit Credit
1-Jan Cash 70,000
Zebenai, Capital 70,000
5-Jan Laundry Machine 35000
Cash 35000
6-Jan Prepaid Rent 12000
12000
8-Jan Equipment 3000
Account Payable 3000
11-Jan Supplies 800
Account payable 800
19-Jan Cash 6,800
Laundry service revenue 6800
22-Jan Account payable 1800
Cash 1800
25-Jan Salary expense 1200
Cash 1200
26-Jan utilities expense 500
Cash 500
30-Jan zebenai, drawing 1500
Cash 1500
1-Feb Cash 2000
Laundry service revenue 2000
2-Feb Prepaid Insurance 1200
Cash 1200
4-Feb Account receivable 25000
laundry service revenue 2500
6-Feb Cash 2000
zebenai, capital 2000
10-Feb Account payable 900
Cash 900
13-Feb Cash 800
Laundry service Revenue 800
15-Feb zebenai, drawing 1000
Cash 1000
17-Feb Supplies 200
Cash 200
19-Feb Account receivable 2400
Laundry service revenue 2400
21-Feb Account payable 200
Cash 200
25-Feb utilities expense 600
Cash 600
27-Feb Salary expense 1200
Cash 1200
28-Feb Cash 1200
Laundry service revenue 1200
28-Feb Supplies 370
Account payable 370
2-Mar Cash 3500
Laundry service revenue 3500
3-Mar Account receivable 1800
Laundry service revenue 1800
4-Mar Cash 900
Account payable 900
7-Mar Supplies 250
Account payable 250
9-Mar Equipment 1000
Cash 1000
12-
Mar Account payable 400
Cash 400
15-
Mar Cash 750
Laundry service revenue 750
16-
Mar Cash 1500
Account payable 1500
18-
Mar zebenai, drawing 500
Cash 500
21-
Mar Account receivable 250
Laundry service revenue 250
24-
Mar Supplies 120
Account payable 120
25-
Mar Cash 700
Laundry service revenue 700
27-
Mar Cash 1200
Account Payable 1200
29-
Mar Account payable 320
Cash 320
30-
Mar Salary expense 1200
Cash 1200
31-
Mar utilities expense 800
Cash 800

Instruction 2: T Account

11 Cash 12 Supplies 13 Account Receivable


DR CR DR CR DR CR
70000 35000 800 2500
6800 12000 200 2400
2000 1800 370 1800
2000 1200 250 250
800 500 120 Balanced 6950
1200 1500 Balance 1740
3500 1200
900 900
750 1000
1500 200
700 200
1200 600
1200
1000
400
500
320
1200
800
Balance 29830

14 Prepaid Insurance 15 Prepaid Rent 16 Laundry Machine


DR CR DR CR DR CR
1200 12000 35000
Balance 1200 Balance 12000 35000
17 Equipment 21 Account
DR CR Payable 31 Zebenai Capital
3000 DR CR DR CR
1000 1800 3000 70000
900 800 2000
Balance 4000
200 370 Balance 72000
400 900
320 250
1500
120
1200
Balance 4520

32 Zebenai Drawing 41 Laundry Service Revenue 51 Salary expense


DR CR DR CR DR CR
1500 6800 1200
1000 2000 1200
500 2500 1200
Balance 3000 800 Balance 3600
2400
1200
3500
1800
750
250
700
Balance 22700
55 Utilities Expense
DR CR
500
600
800
Balance 1900
Instruction 3: Post the Journal entries to ledger accounts

cash No.11
Balance
Date Item Post Ref Debit Credit Debit Credit
1-Jan 70000 70000
5-Jan 35000 35000
6-Jan 12000 23000
19-Jan 6800 29800
22-Jan 1800 28000
25-Jan 1200 26800
26-Jan 500 26300
30-Jan 1500 24800
1-Feb 2000 26800
2-Feb 1200 25600
6-Feb 2000 27600
10-Feb 900 26700
13-Feb 800 27500
15-Feb 1000 26500
17-Feb 200 26300
21-Feb 200 26100
25-Feb 600 25500
27-Feb 1200 24300
28-Feb 1200 25500
2-Mar 3500 29000
4-Mar 900 29900
9-Mar 1000 28900
12-Mar 400 28500
15-Mar 750 29250
16-Mar 1500 30750
18-Mar 500 30250
25-Mar 700 30950
27-Mar 1200 32150
29-Mar 320 31830
30-Mar 1200 30630
31-Mar 800 29830

Supplies No.12
Balance
Date Item Post Ref Debit Credit Debit Credit
11-Jan 800 800
17-Feb 200 1000
28-Feb 370 1370
7-Mar 250 1620
24-Mar 120 1740

Account Receivable No.13


Balance
Date Item Post Ref Debit Credit Debit Credit
4-Feb 2500 2500
19-Feb 2400 4900
3-Mar 1800 6700
21-Mar 250 6950

Prepaid Insurance No.14


Balance
Date Item Post Ref Debit Credit Debit Credit
2-Feb 1200 1200

Prepaid Rent No.15


Balance
Date Item Post Ref Debit Credit Debit Credit
6-Jan 12000 12000

Laundry Machine No.16


Balance
Date Item Post Ref Debit Credit Debit Credit
5-Jan 35000 35000

Equipment No.17
Balance
Date Item Post Ref Debit Credit Debit Credit
8-Jan 3000 3000
9-Mar 1000 4000

Account Payable No.21


Balance
Date Item Post Ref Debit Credit Debit Credit
8-Jan 3000 3000
11-Jan 800 3800
22-Jan 1800 2000
10-Feb 900 1100
21-Feb 200 900
28-Feb 370 1270
4-Mar 900 2170
7-Mar 250 2420
12-Mar 400 2020
16-Mar 1500 3520
24-Mar 120 3640
27-Mar 1200 4840
29-Mar 320 4520

Zebenai Capital No.31


Balance
Date Item Post Ref Debit Credit Debit Credit
1-Jan 70000 70000
6-Feb 2000 72000

Zebenai drawing No.32


Balance
Date Item Post Ref Debit Credit Debit Credit
30-Jan 1500 1500
15-Feb 1000 2500
18-Mar 500 3000

Laundry Service Revenue No.41


Balance
Date Item Post Ref Debit Credit Debit Credit
19-Jan 6800 6800
1-Feb 2000 8800
4-Feb 2500 11300
13-Feb 800 12100
19-Feb 2400 14500
28-Feb 1200 15700
2-Mar 3500 19200
3-Mar 1800 21000
15-Mar 750 21750
21-Mar 250 22000
25-Mar 700 22700
Salary Expense No.51
Balance
Date Item Post Ref Debit Credit Debit Credit
25-Jan 1200 1200
27-Feb 1200 2400
30-Mar 1200 3600

Utilities Expense No.55


Balance
Date Item Post Ref Debit Credit Debit Credit
26-Jan 500 500
25-Feb 600 1100
31-Mar 800 1900

Instruction 4: Prepare Trial Balance (Pre-closing Trial Balance)

Zebanai Laundary Service


Trail Balance
March 31,2012
Acc No. Account Dr Cr
11 Cash 29830
12 Supplies 1740
13 Account Receivable 6950
14 Prepaid Insurance 1200
15 Prepaid Rent 12000
16 Laundry Machine 35000
17 Equipment 4000
21 Account Payable 4520
31 Zebenai, Capital 72000
32 Zebenai, Drawing 3000
41 Laundry service revenue 22700
51 Salary Expense 3600
52 Supplies Expense
53 Insurance Expense
54 Rent Expense
55 Utilities Expense 1900
Total 99220 99220
Instruction 4: Post adjusting entries

Acc No. Account Dr Cr


11 Cash 29830
12 Supplies 250
13 Account Recievable 6950
14 Prepaid Insurance 1100
15 Prepaid Rent 12000
16 Laundary Machine 35000
16-
01 Accumulated Depreciation - Machine 250
17 Equipment 4000
17 -01 Accumulated Depreciation - Equipment 100
21 Account Payable 4520
31 Zebenai, Capital 72000
32 Zebenai, Drawing 3000
41 Laundary service revenue 22700
51 Salary Expense 3600
52 Supplies Expense 1490
53 Insurance Expense 100
54 Rent Expense 0
55 Utilities Expense 1900
56 Depeciation expense 350
Total 99570 99570

Instruction 6: Financial Statement

Income Statement
From the Month Ended March 31,2012
Revenue
Laundary service revenue 22700

Expense
Salary Expense 3600
Supplies Expense 1490
Insurance Expense 100
Rent Expense 0
Utilities Expense 1900
Depeciation expense 350
Total expense 7440
Net Income 15260
Zebanai Laundary Service
Statement of Retained Earnings
From the Month Ended March 31,2012

Retained Earning, January 1, 2012 0


add:Net Income 15260
subtotal 15260
less: Drawings 3000
Retained Earning, January 1, 2012 12260

Zebanai Laundary Service


Statement of Financial Position
March 31,2012
Assets
Assets
Cash 29830
Supplies 250
Account Recievable 6950
Prepaid Insurance 1100
Prepaid Rent 12000
Laundary Machine 35000
Less: Accumulated Depreciation - Machine 250
Equipment 4000
Less: Accumulated Depreciation - Equipment 100
Total Assets 88780

Equity and Liabilities


Equity
Zebenai, Capital 72000
Retained Earnings 12260
Total Equity 84260

Liabilities
Account Payable 4520
Total Liabilities 4520
Total Equity and Liabilities 88780
Instruction 8: Post clothing entries

Closing Journal Entries:

Clothing Revenue Account


Laundary ServiceRevenue 2270
Income Summary 22700

Clothing expense account


Salary Expense 3600
Supplies Expense 1490
Insurance Expense 100
Rent Expense 0
Utilities Expense 1900
Depreciation expense 350
Income Summary 7440

Clothing the Income summary Account


Income Summary 15260
Retained Earning 15260

Clothing Drawing Account


Retained Earnings 3000
Drawing 3000
Instruction 9: Post clothing trial balance

Post-clothing Trail Balance


March 31,2012
Account Dr Cr
Cash 29830
Supplies 250
Account Receivable 6950
Prepaid Insurance 1100
Prepaid Rent 12000
Laundry Machine 35000
Accumulated Depreciation - Machine 250
Equipment 4000
Accumulated Depreciation - Equipment 100
Account Payable 4520
Zebenai, Capital 72000
Retained Earning 12260
Total 89130 89130

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