Name: Francis Daniel V.

Austria

Zach Rustico C. Sabayton

JOURNAL
Date Account Title/ Explanation Debit Credit
Jan 2 Cash 20,000
Capital Stock 20,000
Invested cash in the capital stock of the newly
formed corporation
Jan 4 Equipment 15,000
Accounts Payable 15,000
Purchased equipment on account
Jan
12 Cash 30,000
Service Revenue 30,000
Received cash from costumers for services rendered.
Jan
15 Supplies Expense 4,000
Accounts Payable 4,000
Received a bill for construction supplies
Jan
18 Accounts Receivable 6,400
Service Revenue 6,400
Provided cash of services on account.
Jan
20 Wage Expense 4,600
Cash 4,600
Paid employees for wages earned.
Jan
22 Cash 3,840
Accounts Receivable 3,840
Collected 60% of the amount due for the work provided on January
18.
Jan
23 Accounts Payable 6,000
Cash 6,000
Paid 40% of the amount due on the equipment purchased on January

4.
Jan
25 Supplies Expense 1,200
Cash 1,200
Purchased (and immediately used) construction supplies for cash.
 Jan
31 Dividend 3,000
Cash 3,000
The company paid Robert Dennis a dividend.

LEDGER
Cash
Date Description P.R Debit Credit Debit Credit
Invested cash in the capital stock of the newly 20,00
Jan 2 formed corporation 0 20,000
30,00
Jan12 Received cash from costumers for services rendered. 0 50,000
Jan
20 Paid employees for wages earned. 4,600 45,400
Collected 60% of the amount due for the work provided on
Jan January
22 18. 3,840 49,240
Paid 40% of the amount due on the equipment purchased
Jan on January
23 4. 6,000 43,240
Jan Purchased (and immediately used) construction supplies for
25 cash. 1,200 42,040
Jan
31 The company paid Robert Dennis a dividend. 3,000 39,040

Accounts Receivable
Date Description P.R Debit Credit Debit Credit
Jan
18 Provided cash of services on account. 6,400 6,400
Collected 60% of the amount due for the work provided on
January
Jan22 18. 3,840 2,560

Equipment
Date Description P.R Debit Credit Debit Credit
15,00
Jan 4 Purchased equipment on account 0 15,000

Accounts Payable
Date Description P.R Debit Credit Debit Credit
Invested cash in the capital stock of the newly
Jan 4 formed corporation 15,000 15,000
Jan15 Received cash from costumers for services rendered. 4,000 19,000
Jan
23 Paid employees for wages earned. 6,000 13,000

Capital Stock
Date Description P.R Debit Credit Debit Credit
Invested cash in the capital stock of the newly
Jan 2 formed corporation 20,000 20,000

Service Revenue
Date Description P.R Debit Credit Debit Credit
Jan
12 Received cash from costumers for services rendered. 30,000 30,000
Jan18 Provided cash of services on account. 6,400 36,400

Supplies Expense
Date Description P.R Debit Credit Debit Credit
Jan
15 Received a bill for construction supplies 4,000 4,000
Purchased (and immediately used) construction supplies for
Jan25 cash. 1,200 5,200

Wage Expense
Date Description P.R Debit Credit Debit Credit
Jan
20 Paid employees for wages earned. 4,600 4,600

Dividend
Date Description P.R Debit Credit Debit Credit
Jan
20 The company paid Robert Dennis a dividend. 3,000 3,000
TRIAL BALANCE
TRIAL BALANCE
Account Debit Credit
Cash 39,040
Accounts Receivable 2,560
Equipment 15,000
Accounts Payable 13,000
Capital Stock 20,000
Service Revenue 36,400
Supplies Expense 5,200
Wage Expense 4,600
Dividends 3,000
Total 69,400 69,400