Video Includes:
1. Journalizing transactions into the General Journal. (Rules for debits and credits.)
2. Posting the journal entries into the General Ledger.
3. Preparing the Unadjusted Trial Balance.
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Photogenic Designs: Establishing an Interior Decorating Business, Exercises of Accounting
A detailed account of the financial transactions and activities undertaken by jessie halverson in establishing an interior decorating business called photogenic designs during the month of july 2010. It includes information on the initial capital investment, purchase of equipment and supplies, payment of expenses, invoicing of completed jobs, and other financial activities. The journalizing of transactions, posting to the general ledger, and the preparation of an unadjusted trial balance. This comprehensive financial record offers valuable insights into the startup and early operations of a small interior design business, making it a potentially useful resource for students studying accounting, entrepreneurship, or small business management.
Typology: Exercises
2023/2024
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Video Includes:
1. Journalizing transactions into the General Journ
2. Posting the journal entries into the General Ledg
3. Preparing the Unadjusted Trial Balance.
neral Journal. (Rules for debits and credits.)
eneral Ledger.
ce.
Journal Post
- 1-Jul Cash Date Description Debit Credit - Capital Stock - 4 Rent Expense - Cash
- 10 Truck - Cash - Note Payable
- 13 Equipment - Accounts Payable
- 14 Supplies - Cash
- 15 Prepaid Insurance - Cash
- 15 Cash - Fees Earned
- 21 Accounts Payable - Cash
- 24 Accounts Recievable - Fees Earned
- 26 Truck Expense - Accounts Payable
- 27 Utilities Expense
5 Journal Date Description Debit Credit Post Ref. Cash 11 900 27 Misc. Expense 59 315 Cash 11 315 29 Cash 11 3600 Accounts Recievebale 12 3600 30 Salary expense 2400 Cash 2400 31 Dividends 2000 Cash 2000
7 Journal Date Description Debit Credit Post Ref.
#11 Cash #12 Accounts Receivable #13 Supplies #14 Prepaid Insurance 1-Jul 18000 1750 4-Jul 24-Jul 8600 8-Nov 14-Jul 1200 15-Jul 2700 15-Jul 7500 1000 10-Jul 3600 29-Jul 29-Jul 3600 1200 14-Jul 2700 15-Jul 2500 21-Jul 900 27-Jul 315 27-Jul 2400 30-Jul 2000 31-Jul 5000 14335 #16 Equipment #18 Truck #21 Notes Payable #22 Accounts Payable 13-Jul 7000 10-Jul 15000 14000 10-Jul 21-Jul 2500 7000 13-Jul 26-Jul 800 800 26-Jul 5300 #31 Capital Stock #33 Dividends #41 Fees Earned #51 Wages Expense 18000 1-Jul 31-Jul 2000 7500 15-Jul 30-Jul 2400 8600 24-Jul #53 Rent Expense #54 Utilities Expense #55 Truck Expense #59 Miscellaneous Expense 4-Jul 1750 27-Jul 900 27-Jul 315