General Journal
Date Account Titles and Explanation
1-May-24 Cash
Equipment
Jacob's Capital
To record Jacob's cash and equipment contributions in the company.
No need to record in book for hiring one employee salary
2-May-24 Prepaid Insurance
Cash
To record one year insurance cost
5-May-24 First month rent
Cash(First month rent)
Cash(Last month rent)
Last month rent
To record rental agreement on an office
8-May-24 Equipment
Cash
Note Payable
To record equipment contribution
9-May-24 Supplies
Cash
To record purchased supplies
15-May-24 Supplies
Account payable
To record purchased more supplies
17-May-24 Cash
Account receivable
To record a completed contract for a client
22-May-24 Phone Bill
Cash
To record phone bill payment
25-May-24 Cash
Service revenue
To record a service provided
26-May-24 Cash
Jacob's capital
To record a withdraw by Jacob
28-May-24 Cash
Account receivable
To record money receive from a client
30-May-24 Account payable
Cash
To record payment to May 15's supplies purchase
Interest expenses
cash
To record a payment for interest
31-May-24 Cash
Unearned revenue
To record a service to be completed in June
Salary Expense
Cash
To record salary paid to employee
Post Ref Debit Credit
44,810.00
10,690.00
55,500.00
3,255.00
3,255.00
2,275.00
2,275.00
2,275.00
2,275.00
15,870.00
7,150.00
8,720.00
570.00
570.00
730.00
730.00
3,200.00
3,200.00
320.00
320.00
1,120.00
1,120.00
1,980.00
1,980.00
2,720.00
2,720.00
730.00
730.00
67.00
67.00
500.00
500.00
500.00
500.00
91,612.00 91,612.00
Cash Equipment
May. 01 44,810.00 May. 02 3,255.00 May. 01 10,690.00
5 2,275.00 5 2,275.00 8 15,870.00
17 3,200.00 8 7,150.00
25 1,120.00 9 570.00
26 1,980.00 22 320.00
28 2,720.00 30 730.00
31 500.00 30 67.00
31 500.00
Bal. 41,738.00 Bal. 26,560.00
Rent Note Payable
May. 05 2,275.00 May. 05 2,275.00
Nil. Bal
Account Receivable Phone Bill
May. 17 3,200.00 May. 22 320.00
28 2,720.00
Bal. 5,920.00 bal. 320.00
Unearned Revenue Salary Expenses
May. 31 500.00 May. 31 500.00
Bal, 500.00 Bal. 500.00
Equipment Jacob's Capital
May-01 55,500.00 May. 2
26 1,980.00
Bal. 57,480.00 Bal.
Note Payable Supplies
May. 08 8,720.00 May. 9 570.00 May. 30
15 730.00
Bal. 8,720.00 Bal. 1,300.00
Phone Bill Service Revenue
May. 25 1,120.00 May. 30
Bal. 1,120.00 Bal.
Salary Expenses
Prepaid insurance
3,255.00
3,255.00
Account Payable
730.00 May. 15 730.00
Nil. Bal
Interest Expenses
67.00
67.00
Trial Balance
Abramson Financial Services
1-May-24
Account Name Debit
Cash 41,738.00
Equipment 26,560.00
Prepaid insurance 3,255.00
Supplies 1,300.00
Phone Bill 320.00
Interest Expenses 67.00
Salary Expenses 500.00
Note Payable
Account receivable
Jacob's Capital
Service Revenue
Unearned Revenue
Total 73,740.00
Credit
8,720.00
5,920.00
57,480.00
1,120.00
500.00
73,740.00
