Accounting Final Project

A. Turner owns and operates Showbiz Video. The following accounts are used to record
business transactions:

101 Cash 301 A. Turner, Capital

105 Accts. Rec. - W. Muchauer
110 Accts. Rec. – L. Book
115 Accts. Rec. – M Beck
130 Office Equipment
135 Computer Equipment
140 Video Tapes & Equipment
201 Accts. Pay. – Broad St.
Office Supplies
205 Accts. Pay. – Computer
Horizon
305 A. Turner, Withdrawals
310 Income Summary
401 Video Rental Revenue
405 VCR Rental Revenue
501 Advertising Expense
510 Maintenance Expense
520 Rent Expense
525 Salaries Expense
530 Utilities Expense

The following transactions occurred in the start of the business on December 1.

Dec 1 A. Turner invests $42,000 in the business. Memorandum 1

2 Deposited $5,400 in the business, of which $2,900 was VCR rental, and $2,500
was Video rentals. Receipt 435
3 Wrote Check 101 for $675 for an ad in the local newspaper.
4 Purchase Video tapes from Broad St. Office equipment on account, Invoice PF32,
$1,450.
6 Purchase Office equipment valued at $350, Check 102
8 Bought from Computer Horizon $5,200 in computer equipment. Paid $1,200
down in cash and agreed to pay the balance in 30 days. Invoice 767AF Check 103
10 Rented videos to M Beck who agreed to pay $1,500 at a later date. Invoice 1650
12 Wrote Check 104 to Broad St. Office Supplies for $1,050 for a partial payment.
14 Received $3,450 for VCR rentals. Receipt 436
14 Provided $2,100 in Video rentals to L. Book. Received $1,100 cash and Book
was billed the balance. Receipt 437 Invoice 22
15 Paid the electric bill with Check 105, $1,400.
16 Rented a VCR to W. Munschauer valued at $1,650. Agreed to be paid later.
Invoice 1651.
18 Paid Clearview Window Cleaners $400 for cleaning the windows of the office.
Check 106
20 Made $1,200 payment toward the amount due to Computer Horizon by writing
check 107
23 A. Turner donated a new computer to the company from her personal account
valued at $1,850. Memorandum 2
25 A. Turner withdrew $2,200 for personal use. Check 108
28 Paid $1,350 for the monthly rent. Check 109
30 Wrote Check 110 for the part time salary for $433.