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Journal Entries and Trial Balance Guide

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william.voloshyn
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15 views11 pages

Journal Entries and Trial Balance Guide

Uploaded by

william.voloshyn
Copyright
© All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as XLSX, PDF, TXT or read online on Scribd

Assets = Liabilities + Shareholder's Eq

Assets
DR CR DR
areholder's Equity

Liabilities Shareholder's Equity


CR DR CR

Revenue Expenses
DR CR DR

Common shares Dividends


DR CR DR

Retained Profit
DR CR
CR

CR
Provide journal entries,
Date Acct # Account DR
101 Cash $ 5,000
301 Common Shares
2-Jan little description - purpose

Web Marketing
Trial Balance
For the month ending Jan 31

DR CR
Cash $ 2,100
AR $ 1,700
Supplies $ 900
Equipment $ 3,000
Furniture $ 6,000
Accounts Payable $ 6,900
Common Shares $ 5,000
Dividends $ -
Revenue $ 2,500
rent exp $ 500
Utilities exp $ 200
Salary exp $ -
Supplies expense $ -
$ 14,400 $ 14,400
Posting to T accounts
DR CR DR
Cash
2-Jan $ 5,000
$ 500 Jan 2
$ 3,000 Jan 3
Jan 9 $ 800
$ 200 Jan 12
$ 2,100
CR
AR
$ 5,000 Jan 18 $ 1,700

DR CR
supplies
Jan 5 $ 900
$ 900

DR CR
equipment
Jan 3 $ 3,000

DR CR
Furniture
Jan 4 $ 6,000
A=L+E

CR DR CR
accounts payable common shares Dividends
$ 6,000 Jan 4 Jan 2 $ 5,000
$ 900 Jan 5

$ 6,900

DR CR
service revenue rent expense
Jan 9 $ 800 Jan 2 $ 500
Jan 12 $ 1,700

$ 2,500

DR
utilities expense
Jan 12 $ 200

salary expense
supplies expense
$ 900
Dividends

ent expense

CR
utilities expense

salary expense
supplies expense

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