Journal Entries

In the books of Synder Consulting

For the month of April 20XX

Date General Account Debit in $ Credit in $

Apr 1 Equipment 4,200

Cash 8,000

Capital 12,200

(Cash and equipment introduce in business)

Apr 1 Car 20,000

Cash 4,000

Notes Payable 16,000

( Car purchase in cash and notes payable)

Apr 1 Computer 900

Office Supplies 200

Accounts Payable 1,100

(Computer and office supplies purchased on

account)

Apr 1 Car Expenses 55

Credit Card 55

( Gasoline purchased from credit card)

Apr 3 Cash 3,000

To Butch Daris Deposit 3,000

( Amount received in advance from butch daris)

Apr 5 Cash $500

 To Service fees $500

(Received honorarium )

Apr 7 No Journal Entry Require

Apr 8 Travelling Expenses 445

Credit Card 445

( Travelling expenses incurred from credit card)

Apr 9 Advertisement Expenses 220

Accounts Payable 220

( Being advertisement expenses incurred in

account)

Apr 10 Office Supplies 140

 Cash 140

( Office supplies purchased in cash)

Apr 12 Prepaid Insurance 2,400

Cash 2,400

( Insurance Purchased)

Apr 13 Butch Daris Deposit 3,000

To Consultancy Fees 3,000

(Butch Daris got the job)

Apr 13 Accounts Receivable 2,000

To Service Revenue 2,000

Apr 14 Assistant Salary 400

Cash 400

( Assistant salary paid for $10/hour for 40 hours)

Apr 21 Notes Payable 552

Interest Expenses 88

To Cash 640

( Interest= (16000*10%*20/365)=88)

(Notes Payable = 640-88= 552)

Apr 21 Assistant Salary 400

Cash 400

(Assistant salary paid for $10/hour for 40 hours)

Apr 22 Utility Expenses 280

 Utility payable 280

( recording of utility bill found)

Apr 23 Cash 1,000

Accounts Receivable 1,000

( Payment received from coaches)

Apr 24 Accounts Receivable 4,300

To Consultancy fees 4,300

( Billed for consultancy fees on account)

Apr 25 Accounts Payable 900

Cash 900

(Amount paid for computer purchased )

Apr 28 Assistant Salary 400

Cash 400

( Assistant salary paid for $10/hour for 40 hours)

Apr 29 Advertisement Expenses 400

Accounts Payable 400

(Advertisement expenses incurred on account)

Apr 30 Office supplies expenses 100

Office supplies 100

(Office supplies used)

Apr 30 Synder’s Drawing 300

Cash 300

( Being Cash withdraw for his personal purpose)

Apr 30 Telephone Expenses 220

Cash 220

(Telephone Expenses paid)

Apr 30 Credit Card 500

Cash 500

( Credit Card paid)

Apr 30 Account Payable 220

Interest Expenses 2
 Cash 222

( repayment made along with interest

Interest = 220 * 18% *20/365 =2)

Adjusting Entries

Apr 30 Accounts Receivable 1,250

Consultancy Fees 1,250

( Consultancy service performed)

Assistant salary 160

Salary Payable 160

( Jordy salary due for 16 hours @ $10/hour)

Insurance Expenses 200

Prepaid Insurance 200

(Insurance purchased includes coverage for april

month)

Office Expenses 22

To Office Expenses payable 22

(Received water bill due in may)

Office supplies expenses 80

Office supplies 80

( Total office supplies purchased = 340

Office supplies used = 100

Found in end = 160

Balance is used = 340-100-160)

Interest Expenses 3
To Interest accrued 3

(Interest accrued (1600-552)*10%*9/365)

Depreciation Expenses 475

Accumulated Depreciation on car 475

( Depreciation on car

= (20000-1000)/40)

Depreciation Expenses 38

Accumulated depreciation on computer 38

( Depreciation on computer

900/24)