Accounting

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GENERAL JOURNAL
Date accounts title debit credit
On February 1st, Brenda creates a new company providing Feb-01 cash 30000
accounting services investing $30,000 cash in exchange of 1,000 shares capital stock 30000 cash capital stock
of capital stock. The company will be called Boosting accounting Ltd. to record the incorporation of the company Feb-01 30000 5000 30000 Feb-01
cash 5000 1500 Feb-03
The same day the company purchases a small office for $60,000. Pays $5,000 in cash and land 20000 2400
and issues a note payable for the remainder. The price of the building is $40,000 and the land $20,000. building 40000 Feb-15 600
notes payable 55000 Feb-21 1000
purchase of office 2000 Feb-28
31600 10900
On February 2nd, the company hires an employee for a yearly salary of $24,000. Salaries are paid the last day of each month.
On February 3rd the company purchases furniture for $6,000. Pays $1,500 cash and will pay the remainder in March 15. Feb-03 cash 1500 land
furniture 6000 Feb-01 20000 building
accounts payable 4500 Feb-01 40000
purchase of furniture
The same day the company purchases 2 computers for $2,400, paid in cash. computers 2400
cash 2400
purchase of computers
On February 15 the company bills client Mr. Happy for $1,600. The client pays $600 cash and will pay the remainder Feb-15 accounts receivable 1000
within one week. cash 600 furniture
revenue 1600 accounts payable Feb-03 6000
to record revenue from Mr. Happy 4500 Feb-03
500 Feb-19
On February 19 the company receives an electricity bill for $500 to be paid in March. Feb-19 electricity expense 500 5000
accounts payable 500
to record electricity expense
On February 21 the company receives the settlement of Mr. Happy’s account receivable. Feb-21 cash 1000
accounts receivable 1000 computers
to record payment from Mr. Happy accounts receivable Feb-03 2400
Feb-15 1000
1000 Feb-21
On February 28, the company sends an invoice to its client Mr. Brown for services rendered during the month of February Feb-28 accounts receivable 3000 Feb-28 3000
for $3,000. The invoice should be paid before March 15. revenue 3000 4000
to record revenue from Mr. Brown revenue
electricity expense 1600 Feb-15
salary expense 2000 Feb-19 500 3000 Feb-28
cash 2000 4600
to record salary of february
106500 106500
Boosting Accouting Ltd notes payable salary expense
Unadjusted trial Balance February 28 55000 Feb-01 Feb-28 2000
cash 31600 10900
accounts receivable 4000 1000
furniture 6000
computers 2400
land 20000
building 40000
accounts payable 5000
notes payable 55000
capital stock 30000
revenue 4600
electricity expense 500
salary expense 2000
total 106500 106500