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    Ex 3.12

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    Waritsa Kupradit
    The general journal records transactions from February 1-28, 2015. On February 1, the company received $800,000 from capital stock investors. Throughout the month, the company purchased land, buildings, equipment and supplies, borrowed $100,000 from a bank and $550,000 through a note payable. By February 28th, cash totaled $700,900 with remaining assets and liabilities, including accounts receivable of $16,000 and notes payable of $650,000.

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    Ex 3.12

    Uploaded by

    Waritsa Kupradit
    8 views4 pages
    The general journal records transactions from February 1-28, 2015. On February 1, the company received $800,000 from capital stock investors. Throughout the month, the company purchased land, buildings, equipment and supplies, borrowed $100,000 from a bank and $550,000 through a note payable. By February 28th, cash totaled $700,900 with remaining assets and liabilities, including accounts receivable of $16,000 and notes payable of $650,000.

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    ex 3.12

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    The general journal records transactions from February 1-28, 2015. On February 1, the company received $800,000 from capital stock investors. Throughout the month, the company purchased land, buildings, equipment and supplies, borrowed $100,000 from a bank and $550,000 through a note payable. By February 28th, cash totaled $700,900 with remaining assets and liabilities, including accounts receivable of $16,000 and notes payable of $650,000.

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    Download as XLSX, PDF, TXT or read online from Scribd
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    8 views4 pages

    Ex 3.12

    Uploaded by

    Waritsa Kupradit
    The general journal records transactions from February 1-28, 2015. On February 1, the company received $800,000 from capital stock investors. Throughout the month, the company purchased land, buildings, equipment and supplies, borrowed $100,000 from a bank and $550,000 through a note payable. By February 28th, cash totaled $700,900 with remaining assets and liabilities, including accounts receivable of $16,000 and notes payable of $650,000.

    Copyright:

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    of 4

    General Journal

    Date
    2015 Account Titles amd Explaination Debit Credit
    Feb 1 Cash $ 800,000
    Capital Stock $ 800,000
    Invested in capital stock
    Feb 5 Cash $ 100,000
    Note Payable $ 100,000
    Borrowed from the bank
    Feb 8 Land $ 150,000
    Building $ 540,000
    Office Equipment $ 60,000
    Cash $ 200,000
    Note Payable $ 550,000
    Purchased Land, Building and Office Equipment
    Feb 11 Office supplies $ 800
    Accounts Payable $ 800
    Purchased Office supplies on account
    Feb 14 Advertising Expense $ 500
    Cash $ 500
    Paid full page ad
    Feb 20 Account Payable $ 200
    Office Supplies $200
    Return and reduced company's outstanding balance
    Feb 22 Cash $ 14,000
    Client Service Revenue $ 14,000
    Performed consulting services
    Feb 24 Account Receivable $ 16,000
    Client service revenue $ 16,000
    Billed clients
    Feb 25 Salaries Expense $ 12,000
    Cash $ 12,000
    Paid salary expense
    Feb 28 Account Payable $ 600
    Cash $ 600
    Paid the entire outstanding balance owed for office supplies
    $ 1,694,10 $ 1,694,100
    Capital stock
    2/1

    2/28 bal.

    Note Payable
    2/5
    2/8

    2/28 bal.

    Land
    2/8 150,000

    2/28 bal. 150,000

    Building
    2/8 540,000

    2/28 bal. 540,000

    Office Equipment
    2/8 60,000

    2/28 bal. 60,000


    ck Office supplies Elaine Co
    800,000 2/11 800 2/20 200 Trial Ba
    February
    800,000 Cash
    2/28 bal. 600 Accounts Recievable
    able Office supplies
    100,000 Advertising Expense Land
    550,000 2/14 500 Building
    Office equipment
    650,000 Notes Payable
    2/28 bal. 500 Capital Stock
    Client Revenue
    Account Payable Advertising expense
    2/20 200 2/11 800 Salaries expense
    2/28 600

    2/28 bal. 0

    Client Service Revenue


    2/22 14,000
    2/24 16,000

    2/28 bal. 30,000


    ment
    Account Receivable
    2/24 16,000

    2/28 bal. 16,000

    Salaries Expense
    2/25 12,000

    2/28 bal. 12,000

    Cash
    2/1 800,000 2/8 200,000
    2/5 100,000 2/14 500
    2/22 14,000 2/25 12,000
    2/28 600

    2/28 bal. 700,900


    Elaine Consulting
    Trial Balance
    February 28, 2015
    h 700,900
    ounts Recievable 16,000
    ce supplies 600
    d 150,000
    ding 540,000
    ce equipment 60,000
    es Payable 650,000
    ital Stock 800,000
    nt Revenue 30,000
    ertising expense 500
    ries expense 12,000
    Total 1,480,000 1,480,000

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