Edgar Detoya, Tax Consultant

General Journal
December 2022

Page 1
Date Accounts Title and Explanation P.R Debit Credit
De 11
c 1 Cash 0 150,000  
31
    Detoya, Capital 0   150,000
    To record the investment of Detoya for the firm      
           
De 53
c 2 Rent Expense 0 8,000  
11
    Cash 0   8,000
    To record the payment for rent      
           
De 14
c 2 Supplies 0 7,200  
21
    Accounts Payable 0   7,200
    To record purchased supplies on account      
           
De 15
c 3 Office Equipment 0 75,000  
11
    Cash 0   37,000
21
    Accounts Payable 0   38,000
    To record the acquired office equipment, terms: cash 37,000 and balance on account      
           
De 21
c 8 Accounts Payable 0 7,200  
11
    Cash 0   7,200
    To record the payment on account for supplies purchased      
           
De 1 51
c 4 Salaries Expense 0 6,000  
11
    Cash 0   6,000
    To record the payment for assistant's salaries      
           
De 2 11
c 0 Cash 0 20,000  
41
    Consulting Revenues 0   20,000
    To record the performed consulting services in cash      
           
De 2 51
c 8 Salaries Expense 0 6,000  
11
    Cash 0   6,000
    To record the payment for assistant's salaries      
           
De 3 12
c 0 Accounts Receivable 0 48,000  
41
    Consulting Revenues 0   48,000
    To record the billed clients for services performeed      
           
De 3 32
c 1 Detoya, Withdrawal 0 12,000  
    Cash 11   12,000
 0
    To record Detoya withdrawal from the business      
          Page 2
De 3 52
c 1 Supplies Expense 0 2,500  
14
    Supplies 0   2,500
    To adjust the supplies account for the year end      
           
De 3 51
c 1 Salaries Expense 0 1,800  
22
    Salaries Payable 0   1,800
    To adjust the salaries account for the year end      
           
De 3 54
c 1 Depreciation Expense - Office Equipment 0 800  
15
    Accumulated Depreciation -Office Equipment 5   800
    To record the depreciation for the year end      
           
De 3 13
c 1 Fees Receivable 0 10,000  
41
    Consulting Revenues 0   10,000
    To record Fees Receivable      
           
De 3 41
c 1 Consulting Revenues 0 78,000  
33
    Income Summary 0   78,000
    To record the closing entries for revenues at year end      
           
De 3 33
c 1 Income Summary 0 25,100  
51
    Salaries Expense 0   13,800
52
    Supplies Expense 0   2,500
53
    Rent Expense 0   8,000
54
    Depreciation Expense 0   800
    To record the closing entries for expenses at year end      
           
De 3 33
c 1 Income Summary 0 52,900  
41
    Detoya, Capital 0   52,900
    To record the closing entries of income summary account at year end      
           
De 3 31
c 1 Detoya, Capital 0 12,000  
32
    Detoya, Withdrawals 0   12,000
    To record the closing entries of withdrawals account at year end      
          Page 3
22
Jan 1 Salaries Payable 0 1,800  
51
    Salaries Expense 0   1,800
    To record the reversing entries in Jan 1, 2023      
           
41
Jan 1 Consulting Revenues 0 10,000  
 13
    Fees Receivable 0   10,000
    To record the reversing entries in Jan 1, 2023