Question

This time I have three requirement

1.Make a journal

2. Create a Ledger

3. Build a Trial Balance

roblem 2-3A Mar. 1 3 5 9 11 15 20 22 Dr.Cr. Journal Ledger T/Bal Invested $50,000 in cash and office equipment that had a fair value of $12,000. Prepaid $9,000 cash for three months' rent for an office. Made credit purchases of used office equipment for $6,000 and office supplies for $1,200. Completed work for a client and immediately received $6,200 cash. Completed a $4,000 project for a client, who will pay within 30 days. Paid the account payable created on March 3. Paid $3,000 cast for the annual premium on an insurance policy. Received $1,500 as partial payment for the work completed on March 9. Placed an order with a supplier for $4,800 of supplies to be delivered April 7. They must be paid for within 15 days of being received. Completed work for another client for $2,850 on credit. Abe Factor withdrew $3,600 cash from the business to pay some personal expenses. Purchased $650 of additional office supplies on credit. Paid $860 for the month's utility bill. 23 27 30 31 Required Prepare General Journal entries to record the transactions.

Answer 1

	Ans 1. Journal Entries
Date	Account Title	Dr $	Cr $
Mar 1.	Cash	50,000
	Office Equipment	12,000
	Common Equity		62,000
March 3.	Office Equipment	6,000
	Office Supplies	1,200
	Accounts Payable		7,200
March 5.	Cash	6,200
	Service Revenue		6,200
March 9.	Accounts Receivable	4,000
	Service Revenue		4,000
March 11.	Accounts Payable	7,200
	Cash		7,200
Mar 20.	Cash	1,500
	Accounts Receivable		1,500
Mar 23.	Accounts Receivable	2,850
	Service Revenue		2,850
Mar 27.	Drawings	3,600
	Cash		3,600
Mar 30.	Office Equipment	650
	Accounts Payable		650
Mar 31.	Utilities Expense	860
	Cash		860

	Ans 2. Ledgers
Cash
Date	Details	Dr	Cr	Bal
Mar 1.	Investment	50000
Mar 5.	Sales	6200
Mar 11.	Paid to settle AP		7200
Mar 20.	Partial receipt AR	1500
Mar 27.	Drawings		3600
Mar 31.	Utilities payment		860
Ending Valance		57700	11660	46040

Common Equity
Date	Details	Dr	Cr	Bal
Mar 1.	Investment		62000
Ending Valance		0	62000	62000

Office Equipment
Date	Details	Dr	Cr	Bal
Mar 1.	Investment	12000
Mar 3.	on a/c	6000
Mar 30.	on a/c	650
Ending Valance		18650	0	18650

Accounts Payable
Date	Details	Dr	Cr	Bal
Mar 3.	Office Equipment		6000
	Office supplies		1200
Mat 11	Cash	7200
Mar 30.	Office equipment		650
Ending Valance		7200	7850	650

Office supplies
Date	Details	Dr	Cr	Bal
March 3.	on a/c	1200
Ending Valance		1200	0	1200

Service Revenue
Date	Details	Dr	Cr	Bal
Mar 5.	Cash revenue		6200
Mar 9.	on a/c sales		4000
Mar 23.	on a/c sales		2850
Ending Valance		0	13050	13050

Accounts Receivable
Date	Details	Dr	Cr	Bal
Mar 9.	Sales	4000
Mar 20.	Cash		1500
Mar 23.	Sales	2850
Ending Valance		6850	1500	5350

Utilities Expense
Date	Details	Dr	Cr	Bal
Mar 31.	Paid by cash	860
Ending Valance		860	0	860

Drawings
Date	Details	Dr	Cr	Bal
27-Mar	Cash	3600
Ending Valance		3600	0	360

Trial Balance
As on March 31.
Accounts	Dr $	Cr $
Cash	46,040
Common Equity		62,000
Office Equipment	18,650
Accounts Payable		650
Office Supplies	1,200
Service Revenue		13,050
Accounts Receivable	5,350
Utilities Expense	860
Drawings	3,600
	75,700	75,700