The Movers a sole-proprietorship business, owned by Henry Kelly You should record the following transactions in the General Journal (double entry accounting) You will learn how to record some of these more efficiently in the RECEIVABLES and PAYABLES modules in Chapters 2A 28, 3A and 36 The fiscal year is Jan 1 to Dec 31
Note The store was closed from January 1 to January 3 and the transactions start at Jan 4

Note: This assignment does not involve HST, which is similar to Photos Company 3 Ye Record and Post the following transactions in the General Journal for the month of January using the Double Entry method

Jan 4 Paid $400.00 fuel bill to Petro Canada Cheque S178 issued Jan 7 Delivered a piano (over 50 kilometres) $600 00 invoice #28643 issued to John Currie Cheque #138 received in full
Jan 11 Moved customer (YOUR name in the comment line) (under 50 kilometres) Invoice #28644 $550 00 Cheque #249 received in full
Jan 18 Received cheque #1427. for a $4,923.00 payment from a customer. Canadian Insurance Co., for invoice #28838 dated December 14.
Jan 18 Issued cheque #179 for $412 00 to Direct Advertising Co for an advertisement in today s paper Invoice 010-38962
Jan 25 Moved Gilmore Stores goods from warehouse to store (under 50 kilometres), $900.00. Invoice #28845. terms net 30 days.
Jan 28 Received $83 00 telephone bill #9901 from Metro Phones for regular service Issued cheque #180
Jan 30 Issued cheque #181 to employee G Soho $440 00 for her work in the office
Jan 31 Use the Recurring entry to record bank service charges for the month. This month s charges are the same amount as in the recurring entry

a) Journal Entnes All for the monthly activity with no corrections

b) Income Statement for the monthly activity

c) Balance Sheet as at Jan 31

Answer rating: 100% (QA)

Journal entries for the month of January Debit Credit amount amount 4Jan Fuel expenses ac Dr 40000 T... View the full answer