ASSIGNMENT #2

GENERAL JOURNAL PAGE GJ8

Date Account/Explanation F Debit Credit
31 May Salary Expense 37800
Salaries Payable 37800

9 June Accrued Salary 37800

Salary Expense 37800
Cash 75600
 GENERAL JOURNAL PAGE GJ8
Date Account/Explanation F Debit Credit
31 May Consulting Expense 5995
Accrued Expense 5995

19 June Consulting Expense 10355

Accrued Expense 5995
Cash 16350
 GENERAL JOURNAL PAGE GJ8
Date Account/Explanation F Debit Credit
31 July Prepaid Insurance A 4400
Cash A 4400

Depreciation Expense B 300

Equipment B 300

Unearned Rent C 250

Rent Expense C 250

Accrued Property Tax D 4100

Property Tax D 4100

Depreciation Expense E 500

Building E 500
 GENERAL JOURNAL PAGE GJ8
Date Account/Explanation F Debit Credit
31 March Depreciation Expense A 900
Building A 900

Depreciation Expense B 750

Furniture B 750
Advertising Expense C 2650
Prepaid Expense C 2650

Insurance D 1600
Prepaid Insurance D 1600

Interest Expense E 810

Accrued Interest Payable E 810

Advertising Expense F 6500

Cash F 6500

Rent Expense G 6250

Prepaid Rent G 6250

Accrued Wages H 23500

Wages Expense H 23500

Depreciation I 7375
Equipment I 7375

Cash J 8200
Unearned Revenue J 6300
Consulting Fees J 1900
 GENERAL JOURNAL PAGE GJ8 Effect on
Balance Sheet
Date Account/Explanation F Debit Credit
30 June Depreciation 420 - Asset
Building 420

Insurance 1400 - Asset

Prepaid Insurance 1400

Accrued Property Tax 300 - Liability

Tax Expense 300

Unearned Rent 750 + Liability

 Rent Expense 750

Furniture 10500 No impact

Cash 10500
Depreciation 1800 - Asset
Furniture 1800