Using the attached General Journal, record the following business transactions. Each transaction is worth 2 marks. June
Question:
Using the attached General Journal, record the following business transactions. Each transaction is worth 2 marks.
June 2, 2020 Justin Case invests $25,000.00 to open up a paralegal firm.
June 2, 2020 June rent is paid with cheque #1 for $3,000.00.
June 3, 2020 Justin purchased a laptop, with cash, for his new business for $1,000.00.
June 4, 2020 Justin purchased office equipment for $5,000.00 on credit.
June 5, 2020 Justin purchased office supplies worth $500.00 on account.
June 9, 2020 Justin billed his first client on account for $3,000.00.
June 12, 2020 Justin paid his utility bill for $250.00 with cheque #2.
June 18, 2020 Justin performed consulting services for $2,000.00 cash.
June 23, 2020 Justin paid his office supplies account balance of $500.00 with cheque #3.
June 26, 2020 Justin collected a partial payment from his first client in the amount of $1,500.00.
June 28, 2020 Justin withdrew $2,000.00 for personal use.
**Note: Chart of Accounts can be found in your textbook, on back of cover.
Date | Account Name | Debit | Credit | ||
Date | Account Name | Debit | Credit | ||
Accounting concepts and applications
ISBN: 978-0538745482
11th Edition
Authors: Albrecht Stice, Stice Swain