Question

Can someone help me journalize this question?

3 Record and Post the following transactions in the General Journal for the month of January using the double-entry method. Jan 2 Purchased $80.00 worth of office supplies from Kanwal Supplies and issued cheque # 652. Note that these supplies are assumed to be used up by the end of the month. Jan 2 Issued $80.00 invoice #324 to YOUR name (your name in the comment line) for 2 hours of driving lessons before your driving test. Cheque #1 13 received . Jan 3 Issued $600.00 cheque #653 to Uptown Mall for rent of a store in the mall. Jan 5 Issued $50.00 invoice #325 and received cheque #748 from Vito Campize for one-hour driving lesson ($40.00) and rule book test ($10.00) for his daughter. Jan 6 Issued $320.00 cheque #654 to Capilano Advertising for advertisements being delivered to homes in the area today. Jan 8 A new client, Naomi Regalea, took a 3-hour driving lesson. Received her $120.00 cheque #522 for invoice #326. Issued $120.00 cheque # 655 to Morton Medina (driving teacher) for wages. Jan 9 Jan 11 Purchased 2 driving lesson DVDS at $75.00 each for use in the Beginners Driving Lesson course approved by the government. They will be used in the course starting tomorrow. Cheque #656 issued to Major Film Labs. Jan 12 Record the $308.00 Bank Debit memo for a payment on the bank loan. This amount includes interest of $32.40 Jan 12 Beginners Driving Lessons course started today. Received $250.00 cash from customers and deposited $250.00 in the bank today. 4Print the following: a) Journal Entries All for the period, Jan 02 to Jan 12, with additional information b) Income Statement for the period Jan 02 to Jan 12 c) Balance Sheet as at Jan 12 d) General Ledger for all accounts to Jan 12

Answer 1

Amount ($) Jan.2 80 Office supplies expense Cash (Purchase of office supplies) 80 Jan.2 Cash 80 80 Service revenue (Issue of invoice for driving lessons) Jan.3 600 Rent expense Cash (Cheque issued for rent of a store) 600 Jan.5 50 Cash Service revenue (Issue of invoice for driving lessons and rule book test) Jan.6 320 Advertising expense Cash (Cheque issued for advertisements) 320

Jan.8 120 120 Cash Service revenue (Cheque received for driving lessons against invoice #326) Jan.9 120 Wages expense Cash 1201 Jan.11 150 Training expenses (75*2) Cash (Purchase of 2 driving lesson DVDs) 150 Jan.12 275.6 32.4 Bank loan Interest expense Cash (Payment of bank loan) 308 Jan.12 250 250 Cash Unearned service revenue (Amount received from customers for beginners driving lesson course)