Lesson 6 Assignment 2

Journalize the following transactions in the journal page below. Add

explanations for the transactions and leave a space between each.
2021
May
3 Paid the rent for May, $1500. by cheque # 85
4 Received $340 from Southco on account. Hint – if you are receiving money is this A/R or A/P?
7 Completed a consulting service for Southco on account, $550
8 Paid $65 to Erin Repair on account
9 The owner, Tabatha Lin, withdrew $375 cash for personal use.
13 Paid $43 for the phone bill by cheque #86
18 Got the company van repaired on account with Erin Repair, $282
23 Received $550 from Southco on account.
27 Completed a consulting service for G. Dekker, $768, paid by cheque.
30 Paid wages of $600, paid by cheque #87

Date Particulars P.R. Debit Credit

2021
May 3 Rent expense 505 1,500.00
Bank 105 1,500.00
(Rent paid for May, $1500 paid by cheque)

4 Bank 105 340.00

A/R Southco 110 340.00
(Total amount received from Southco on account)

7 A/R Southco 205 550.00

Revenue 405 550.00
(Amount received from Consulting Services on account)

8 Erin Repair 210 65.00

Bank 105 65.00
(Amount paid to Erin repair on account)

9 T. Lin, Drawings 310 375.00

Bank 105 375.00
(Tabatha Lin, withdrew cash for personal use)

13 Telephone Expense 510 43.00

Bank 105 43.00
(Phone bill paid by cheque)

18 Vehicle Repair Expense 515 282.00

A/P Erin Repair 210 282.00
(Company van paid on account done by Erin Repair)
23 Bank 105 550.00
A/P Southco 205 550.00
(Amount received from Southco on account)

27 Bank 105 768.00

Revenue 405 768.00
(Consulting service paid with cheque)

30 Wages Expense 520 600.00

Bank 105 600.00
(Amount given to employee's as wages paid by cheque)

5,073.00 5,073.00
Chart of Accounts
105 Bank
110 A/R - Southco
125 Equipment
205 A/P - P. Plum
210 A/P - Erin Repair
305 T. Lin, Capital
310 T. Lin, Drawings
405 Revenue
505 Rent Expense
510 Telephone Expense
515 Vehicle Repair Expense
520 Wages Expense