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How to journalize these? Accounting HW help please?

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How to journalize these? Accounting HW help please?

Postby hawly » Fri Dec 14, 2012 2:53 am

Jan 5 Received $60,000 from Mia Perini and issued 10,000 common shares of $6 par value.

5 Paid 4,000 of general liability and property insurance. The disbursement by Check No. 100 was for a complete year of service.

6 Rented an office and furniture for 1000 per month. issued check no 101 for 3,000, representing the first and last months' rent and the security deposit.

7 Issued check no.102 for 1,200 for the purchase of office supplies.

7 Issued Check No. 103 for 5,000 for advertising to e run in local newspapers and magazines in the month of January.

10 Cecil Elliot engaged art by design to renovate his oceanfront condominium. Received 8,000 from cecil elliot after services were completed.

12 Recorded 5,000 (net 30) decorating fees earned on account from Sienna Flore to remodel her office.

20 Received 6,000 from Gary Foltz, a customer. These fees were related toservices rendered to improve his office's lobby.

25 Recordd 10,000 (net 60) decorating fees revenue earned on account from Giovanni Lugo, a long time customer who wantedto enhance his residence's decor.

30 Issued check no. 104 for $180 for the months utilities

30 issued check no. 108 for 5,500 to Mia perini for salary ( Payroll taxes are not considered in this entry.transactions in later months will show you how to journalize payroll tax deductions and expenses)
hawly
 
Posts: 880
Joined: Tue Mar 22, 2011 5:43 am

How to journalize these? Accounting HW help please?

Postby teiji » Fri Dec 14, 2012 3:19 am

Jan 5 Received $60,000 from Mia Perini and issued 10,000 common shares of $6 par value.
Dr Cash 60,000
Cr Common Stock 60,000
5 Paid 4,000 of general liability and property insurance. The disbursement by Check No. 100 was for a complete year of service.
Dr Prepaid Insurance 4,000
Cr Cash 4,000
6 Rented an office and furniture for 1000 per month. issued check no 101 for 3,000, representing the first and last months' rent and the security deposit.
Dr Prepaid Rent 2,000
Dr Rent Expense 1,000
Cr Cash 3,000
7 Issued check no.102 for 1,200 for the purchase of office supplies.
Dr Supplies 1,000
Cr Cash 1,000
7 Issued Check No. 103 for 5,000 for advertising to e run in local newspapers and magazines in the month of January.
Dr Advertising Expense 5,000
Cr Cash 5,000
10 Cecil Elliot engaged art by design to renovate his oceanfront condominium. Received 8,000 from cecil elliot after services were completed.
Dr Cash 8,000
Cr Service Revenue 8,000
12 Recorded 5,000 (net 30) decorating fees earned on account from Sienna Flore to remodel her office.
Dr Accounts Receivable 5,000
Cr Service Reveue 5,000
20 Received 6,000 from Gary Foltz, a customer. These fees were related toservices rendered to improve his office's lobby.
Dr Cash 6,000
Cr Service Revenue 6,000
25 Recordd 10,000 (net 60) decorating fees revenue earned on account from Giovanni Lugo, a long time customer who wantedto enhance his residence's decor.
Dr Accounts Receivable 10,000
Cr Service Revenue 10,000
30 Issued check no. 104 for $180 for the months utilities
Dr Utilities Expense 180
Cr Cash 180
30 issued check no. 108 for 5,500 to Mia perini for salary ( Payroll taxes are not considered in this entry.transactions in later months will show you how to journalize payroll tax deductions and expenses)
Dr Salaries Expense 5,500
Cr Cash 5,500
teiji
 
Posts: 888
Joined: Mon Mar 21, 2011 6:11 pm


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