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Journal Entries and Posting to T-Accounts

Journal Entries and Posting to T-Accounts

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Published by Mary
Demstration of Journal Entries and Posting to T-Accounts.
Demstration of Journal Entries and Posting to T-Accounts.

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Published by: Mary on Jun 18, 2008
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05/09/2014

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Journal Entries
Basics examples of how to dogeneral journal entries
 
 
List of Transactions for the month of January 2006
Marie Collins invested $100,000 of her own money into her new pet shopon January 1, 2006. The store will be named “Love thy Pet.”For January 1, 2006, Marie paid $1,350 rent on the pet shop.For January 2, 2006, Marie borrowed $50,000 by signing a 4-month, 10%note payable.For January 5, 2006, Marie purchased pet store equipment for $7,500 incash.For January 6, 2006, Marie hired two salespeople to begin work on the 9
th
 of January in the store for a bi-weekly wage of $800 each.For January 8, 2006, Marie receives a cash advance of $1,200 from acustomer for an Irish sheep dog that will not arrive from the breeder untilMarch 7, 2006.For January 10, 2006, Marie received $5,500 in cash for two bulldogssold to a customer.For January 14, 2006, Marie purchased 2-months of pet supplies onaccount at a cost of $500 from Morrison pet supply store.For January 15, 2006, Marie declared and paid a dividend to stockholdersof $400.For January 31, 2006 Marie purchased a 2-year insurance policy costing$2,400 that will expire on January 31 of 2008.For January 31, 2006, Marie paid the salespersons bi-weekly wages.
 
 
Marie Collins invested $100,000 of her own moneyinto her new pet shop on January 1, 2006. Thestore will be named “Love thy Pet.”

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