ACCOUNTING HOMEWORK

Accounting Homework



Accounting Homework

Problem 3.2

General Journal Entries

Gerry Munro Hairdressing Salon

General Journal

July 31, 2012

Date

Particulars

Ref.

Debit

Credit

July 2

Cash

100

$ 30,000

Gerry Munro ,Capital

300

$ 30,000

July 2

Rent Expense

500

$ 1200

Cash

100

$ 1200

July 3

Equipment

103

$ 28000

Cash

100

$ 12000

Loan Payable

200

$ 16000

July 4

Supplies

102

$ 1,040

Cash

100

$ 1,040

July 6

Advertising Expense

501

$ 300

Cash

100

$ 300

July 16

Cash

100

$ 1680

Accounts Receivable

101

$ 250

Revenue

400

$ 1930

July 20

Insurance Expense

52

$ 560

Cash

100

$560

July 23

Cash

100

$ 150

Accounts Receivable

101

$150

July 28

Gerry Munro, Drawings

301

$ 440

Cash

100

$ 440

July 31

Cash

100

$ 1760

Accounts Receivable

101

$ 120

Revenue

400

$ 1880

July 31

Telephone Expense

503

$ 270

Cash

100

$ 270

General Ledger - Running Balance Format

Cash Account No.100

Date

Explanation

Ref.

Debit

Credit

Balance

Debit

Credit

2012-July

2

Gerry Munro ,Capital

300

$ 30000

$ 30,000

2

Rent Expense

500

$ 1200

$ 28800

3

Equipment

103

$ 12000

$ 16800

4

Supplies

102

$ 1040

$ 15760

6

Advertising Expense

501

$ 300

$ 15460

16

Revenue

400

$ 1680



$ 17140

20

Insurance Expense

502

$ 560

$ 16580

23

Accounts Receivable

101

$ 150

$ 16730

28

Gerry Munro, Drawings

301

$ 440

$ 16290

31

Revenue

400

$ 1760

$ 18050

31

Telephone Expense

503

$ 270

$ 17780

Accounts Receivable Account No.101

Date

Explanation

Ref.

Debit

Credit

Balance

Debit

Credit

2012-July

16

Revenue

400

$ 250

$ 250

23

Cash

100

$ 150

$ 100

31

Revenue

400

$ 120

$ 220

Supplies Account No.102

Date

Explanation

Ref.

Debit

Credit

Balance

Debit

Credit

2012-July

4

Cash

100

$ 1040

Equipment Account no.103

Date

Explanation

Ref.

Debit

Credit

Balance

Debit

Credit

2012

-July

3

Cash

100

$ 12000

$ 12000

3

Loan Payable

200

$ 16000

$ 28000

Loan Payable Account no.200

Date

Explanation

Ref.

Debit

Credit

Balance

Debit

Credit

2012-July

3

Equipment

103

$ 16000

Gerry Munro, Capital Account No.300

Date

Explanation

Ref.

Debit

Credit

Balance

Debit

Credit

2012-July

2

Cash

100

$ 30000

$ 30000

Gerry Munro, Drawings Account no.301

Date

Explanation

Ref.

Debit

Credit

Balance

Debit

Credit

2012-July

28

Cash

100

$ 440

$ 440

Revenue Account no.400

Date

Explanation

Ref.

Debit

Credit

Balance

Debit

Credit

2012-July

16

Accounts Receivable

101

$ 250

$ 250

16

Cash

100

$ 1680

$ 1930

31

Accounts Receivable

101

$ 120

$ 2050

31

Cash

100

$ 1720

$ 3770

Rent Expense Account no.500

Date

Explanation

Ref.

Debit

Credit

Balance

Debit

Credit

2012-July

2

Cash

100

$ 1200

$ 1200

Advertising Expense Account no.501

Date

Explanation

Ref.

Debit

Credit

Balance

Debit

Credit

2012-July

6

Cash

100

$ 300

$ 300

Insurance Expense Account no.502

Date

Explanation

Ref.

Debit

Credit

Balance

Debit

Credit

2012-July

20

Cash

100

$ 560

$ 560

Telephone Expense Account no.503

Date

Explanation

Ref.

Debit

Credit

Balance

Debit

Credit

2012-July

31

Cash

100

$ 270

$ 270

Trial Balance

Gerry Munro Hairdressing Salon

Trial Balance

July 31, 2012

Account No.

Account

Debit

Credit

100

Cash

$17780

101

Accounts Receivable

220

102

Supplies

1040

103

Equipment

28000

200

Loan Payable

$ 16000

300

Silver, Capital

30000

301

Silver, Drawing

400

400

Revenue

3770

500

Rent Expense

1200

501

Advertising Expense

300

502

Insurance Expense

560

503

Telephone Expense

270

Total

$49,770

$49,770

Problem 3.13

General Journal Entries

ANG MAJILD

General Journal

November 30, 2012

Date

Particulars

Ref.

Debit

Credit

Nov 1

Cash

1-101

$15,000

Majild, Capital

3-1-1

$15,000

Nov 3

Rent Expense

5-110

590

Cash

1-101

590

Nov 4

Equipment

1-120

7,000

Cash

Loan Payable

1-101

2-110

3,000

4,000

Nov 5

Supplies

1-110

250

Loan Payable

2-110

250

Nov 15

Cash

Accounts Receivable

1-101

2-101

1,530

70

Revenue

4-101

1,600

Nov 18

Loan Payable

2-110

190

Cash

1-101

190

Nov 19

Insurance Expense

5-120

190

Cash

1-101

190

Nov 24

Cash

1-101

40

Accounts Receivable

2-101

40

Nov 27

Supplies

1-110

70

Loan Payable

2-110

70

Nov 29

Cash

Accounts Receivable

1-101

2-101

1,330

60

Revenue

4-101

1,390

Nov 30

Telephone expense

5-130

60

Cash

1-101

60

General Ledger - Running Balance Format

Cash Account No. 1-101

Date

Explanation

Ref.

Debit

Credit

Balance

Debit

Credit

2012-Nov

1

Majild, Capital

3-1-1

$ 15000

$ 15000

3

Rent Expense

5-110

$ 590

$ 14410

4

Equipment

1-120

$ 3000

$ 11410

15

Revenue

4-101

$ 1530



$ 12940

18

Loan Payable

2-110

$ 190

$ 12750

19

Insurance Expense

5-120

$ 190

$ 12560

23

Accounts Receivable

2-101

$ 40

$ 12600

29

Revenue

4-101

$ 1330

$ 13930

30

Telephone Expense

5-130

$ 60

$ 13870

Accounts Receivable Account No.2-101

Date

Explanation

Ref.

Debit

Credit

Balance

Debit

Credit

2012-Nov

15

Revenue

4-101

$ 70

$ 70

24

Cash

1-101

$ 40

$ 30

29

Revenue

4-101

$ 60

$ 90

Supplies Account No. 1-110

Date

Explanation

Ref.

Debit

Credit

Balance

Debit

Credit

2012-Nov

5

Loan Payable

2-110

$ 250

$ 250

27

Loan Payable

$ 70

$ 320

Equipment Account No. 1-120

Date

Explanation

Ref.

Debit

Credit

Balance

Debit

Credit

2012

-Nov

3

Cash

1-101

$ 3000

$ 3000

3

Loan Payable

2-110

$ 4000

$ 7000

Loan Payable Account No. 2-110

Date

Explanation

Ref.

Debit

Credit

Balance

Debit

Credit

2012-Nov

4

Equipment

1-120

$ 4000

$ 4000

5

Supplies

1-110

$ 250

$ 4250

18

Cash

1-101

$ 190

$ 4060

27

Supplies

1-110

$ 70

$ 4130

Majild, Capital Account No. 3-1-1

Date

Explanation

Ref.

Debit

Credit

Balance

Debit

Credit

2012-Nov

1

Cash

1-101

$ 15000

$ 15000

Revenue Account No.4-101

Date

Explanation

Ref.

Debit

Credit

Balance

Debit

Credit

2012-Nov

16

Accounts Receivable

2-101

$ 70

$ 70

16

Cash

1-101

$ 1530

$ 1600

31

Accounts Receivable

2-101

$ 60

$ 1660

31

Cash

1-101

$ 1330

$ 2990

Rent Expense Account No.5-110

Date

Explanation

Ref.

Debit

Credit

Balance

Debit

Credit

2012-Nov

3

Cash

1-101

$ 590

$ 590

Insurance Expense Account No.5-120

Date

Explanation

Ref.

Debit

Credit

Balance

Debit

Credit

2012-Nov

19

Cash

1-101

$ 190

$ 190

Telephone Expense Account No.5-130

Date

Explanation

Ref.

Debit

Credit

Balance

Debit

Credit

2012-Nov

30

Cash

1-101

$ 60

$ 60

Trial Balance

ANG MAJILD

Trial Balance

November 30, 2012

Account No.

Account

Debit

Credit

1-101

Cash

$13870

2-101

Accounts Receivable

90

1-110

Supplies

320

1-120

Equipment

7000

2-110

Loan Payable

$ 4130

3-1-1

A.Majild, Capital

15000

4-101

Revenue

2990

5-110

Rent Expense

590

5-120

Insurance Expense

190

5-130

Telephone Expense

60

Total

$22120

$22120

After GST

General Journal Entries

ANG MAJILD

General Journal

November 30, 2012

Date

Particulars

Ref.

Debit

Credit

Nov 1

Cash

1-101

$15,000

Majild, Capital

3-1-1

$15,000

Nov 3

Rent Expense

5-110

590

Cash

1-101

590

Nov 4

Equipment

GST Outlay

1-120

1-105

7,000

700

Cash

Loan Payable

1-101

2-110

3,700

4,000

Nov 5

Supplies

GST Outlay

1-110

1-105

250

25

Loan Payable

2-110

275

Nov 15

Cash

Accounts Receivable

1-101

2-101

1,530

70

Revenue

4-101

1,600

Nov 18

Loan Payable

2-110

275

Cash

1-101

275

Nov 19

Insurance Expense

5-120

190

Cash

1-101

190

Nov 24

Cash

1-101

44

Accounts Receivable

2-101

44

Nov 27

Supplies

GST Outlay

1-110

1-105

70

7

Loan Payable

2-110

77

Nov 29

Cash

Accounts Receivable

1-101

2-101

1,330

60

Revenue

4-101

1,390

Nov 30

Telephone expense

5-130

60

Cash

1-101

60

B. General Ledger - Running Balance Format

Cash Account No. 1-101

Date

Explanation

Ref.

Debit

Credit

Balance

Debit

Credit

2012-Nov

1

Majild, Capital

3-1-1

$ 15000

$ 15000

3

Rent Expense

5-110

$ 590

$ 14410

4

Equipment

1-120

$ 3000

$ 11410

4

GST Outlay

1-105

$ 700

$ 10710

15

Revenue

4-101

$ 1530



$ 12240

18

Loan Payable

2-110

$ 275

$ 11965

19

Insurance Expense

5-120

$ 190

$ 11775

23

Accounts Receivable

2-101

$ 44

$ 11819

29

Revenue

4-101

$ 1330

$ 13149

30

Telephone Expense

5-130

$ 60

$ 13089

Accounts Receivable Account No.2-101

Date

Explanation

Ref.

Debit

Credit

Balance

Debit

Credit

2012-Nov

15

Revenue

4-101

$ 70

$ 70

24

Cash

1-101

$ 44

$ 26

29

Revenue

4-101

$ 60

$ 86

Supplies Account No. 1-110

Date

Explanation

Ref.

Debit

Credit

Balance

Debit

Credit

2012-Nov

5

Loan Payable

2-110

$ 250

$ 250

27

$ 70

$ 320

Equipment Account No. 1-120

Date

Explanation

Ref.

Debit

Credit

Balance

Debit

Credit

2012

-Nov

3

Cash

1-101

$ 3000

$ 3000

3

Loan Payable

2-110

$ 4000

$ 7000

Loan Payable Account No. 2-110

Date

Explanation

Ref.

Debit

Credit

Balance

Debit

Credit

2012-Nov

4

Equipment

1-120

$ 4000

$ 4000

5

Supplies

1-110

$ 275

$ 4275

18

Cash

1-101

$ 275

$ 4000

27

Supplies

1-110

$ 77

$ 4077

A.Majild, Capital Account No. 3-1-1

Date

Explanation

Ref.

Debit

Credit

Balance

Debit

Credit

2012-Nov

1

Cash

1-101

$ 15000

$ 15000

Revenue Account No.4-101

Date

Explanation

Ref.

Debit

Credit

Balance

Debit

Credit

2012-Nov

16

Accounts Receivable

2-101

$ 70

$ 70

16

Cash

1-101

$ 1530

$ 1600

31

Accounts Receivable

2-101

$ 60

$ 1660

31

Cash

1-101

$ 1330

$ 2990

Rent Expense Account No.5-110

Date

Explanation

Ref.

Debit

Credit

Balance

Debit

Credit

2012-Nov

3

Cash

1-101

$ 590

$ 590

Insurance Expense Account No.5-120

Date

Explanation

Ref.

Debit

Credit

Balance

Debit

Credit

2012-Nov

19

Cash

1-101

$ 190

$ 190

GST Outlays Account ...