1Nov 20xx InvestmentA/C Dr 100,000 Common Stock Cr 100,000 (Issued 10,000 shares

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1Nov 20xx InvestmentA/C Dr 100,000 Common Stock Cr 100,000 (Issued 10,000 shares of $10 par value common stock in exchange for an initial investment of $100,000 by the firm's owners) 1 Nov 20xx PrePaid Insurance A/C Dr 1800 Cash Cr 1800 (Prepaid $1,800 for a one-year insurace policy) 3 Nov 20xx Office Eqpt A/C Dr 15000 Common Stock A/C Cr 15000 (Issued 1,500 shares of $10 par value common stock for office equipment with a fair market value of $15,000). 4 Nov 20xx Cash Dr 20,000 Note Payable Cr 20,000 (Borrowed 20,000 by issuing a four-year 6% notes payable) 5 Nov20xx Land A/C Dr 10,000 Building A/C Dr 90,000 Cash Cr 90,000 (Purchased Land 10000 and a Building 80000 for $90,000 cash) 6 Nov 20xx Office Supplies A/C Dr 10000 Acct Payable Cr 10,000 (Purchased $10,000 worth of Office Supplies on account from Kilcoyne Office Supply) 7 Nov20xx Petty Fund A/c Dr 400 Cash Cr 400 (Established a petty cash fund of $400) 8 Nov20xx Advt A/C Dr 2400 Cash Cr 2400 (Paid $2,400 cash for an order with a local newspaper for advertising) 11Nov20xx Cash Cr 10,000 Services Revenue A/C Cr 10,000 (Completed services for several clients and received $10,000) 12 Nov 20xx Acct Rxable Dr 12000 Services Rev A/C Cr 12,000 (Completed services for customers and billed them for $12,000) 15 Nov 20xx Payroll A/C Dr 8000 Cash Cr 8000 (Paid the semi-montly payroll of $8,000 to the firm's part time consultants, all of which are classified as independent contractors.) 16 Nov20xx Cash Dr 9000 Adv for Services A/C Cr 9000 (Received $9,000 in advance for services to be provided from November 16 through February 15) 16 Nov20xx Note Rxable A/C Dr 2000 Sevices Rev A/C Cr 2000 (A client billed on November 12 indicated that a $2,000 receivable due Bayou Computer Services Enterprises would not be paid for 90 days. Bayou Computer Services accepted a 12% 90 Day notes receivable on this date.) 17 Nov20xx Cash Dividend Dr $5,750 DIvidend Payable Cr $5,750 (Declared a cash divident of %.50 per share ie $10*115000*0.5% = $5,750) 18 Nov20xx Acct Payable Dr 2500 Cash Cr 2500 (Paid cash to Kilcoyne Office Supply $2,500) 29 Nov20xx Tel Exp Dr 500 Cash Cr 500 (Received and paid the November telephone bill of $500) 30 Nov 20xx Cash Dr 3000 Acct Rxable Cr 3000 (Collected $3,000 of the receivable recorded on November 14) 30 Nov20xx Utility exp Dr 1500 Cash Cr 1500 (Paid cash, $1,500, for various utility bills received for November) 30 Nov20xx Cash Dr 15000 Acct Rxable Dr 5000 Services Rev A/C Cr 20000 (Recorded services rendered to clients totaled $20,000. The firm collected $15,000 in cash with the balance due in 30 days.) 30 Nov 20xx Postage Dr $50 Freight-Out Dr $150 Repair Expense Dr $60 Miscellaneous Expense Dr $85 Cash Short Dr 15 Cash Cr 360

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