Journal ENTRIES !!!!!!! PLEASE !!!!!!!!!!!!! USING THESE Accounts !!!!!!!!!! Inc
ID: 2525496 • Letter: J
Question
Journal ENTRIES !!!!!!! PLEASE !!!!!!!!!!!!! USING THESE Accounts !!!!!!!!!!
Income Tax Expense
https://www.chegg.com/homework-help/questions-and-answers/please-help-journal-entries-01-june-1-byte-accounting-inc-acquired-57-600-cash-lauryn-issu-q28517507
1110 Cash 1120 Accounts Receivable 1130 Prepaid Insurance 1140 Prepaid Rent 1150 Office Supplies 1211 Office Equip. 1212 Accum. Depr.-Office Equip. 1311 Computer Equip. 1312 Accum. Depr.-Computer Equip. 1411 Building Cost 1412 Accum. Depr.-Building 1510 Land 2101 Accounts Payable 2102 Advanced Payments 2103 Interest Payable 2105 Salaries Payable 2106 Income Taxes Payable 2201 Mortgage Payable 2202 Notes Payable 3100 Capital Stock 3200 Retained Earnings 3300 Dividends 3400 Income Summary 4100 Computer & Consulting Revenue 5010 Rent Expense 5020 Salary Expense 5030 Advertising Expense 5040 Repairs & Maint. Expense 5050 Oil & Gas Expense 5080 Supplies Expense 5090 Interest Expense 5100 Insurance Expense 5110 Depreciation Expense 5120Income Tax Expense
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Explanation / Answer
Solution:
No
Date
General Journal
Debit ($)
Credit ($)
01.
June 1
Cash
1110
57,600
Capital Stock (2,400 shares)
3100
57,600
02.
June 1
Computer equipment
1311
36,480
Cash
1110
26,160
Capital Stock (2,610 shares)
3100
62,640
03.
June 1
Computer equipment
1311
13,920
Office equipment
1211
552
Cash
1110
46,800
Capital Stock (2,553 shares)
61,272
04.
June 2
Computer equipment
1311
135,000
Cash
1110
27,000
Notes Payable
2202
108,000
05.
June 4
Office equipment
1211
600
Accounts Payable
2101
600
06.
June 8
Accounts Payable
2101
120
Office equipment
1211
120
07.
June 10
Notes Payable
2202
20,750
Cash
1110
20,750
08.
June 14
Prepaid Insurance
1130
4,968
Cash
1110
4,968
09.
June 16
Cash
1110
6,000
Computer & Consulting Revenue
4100
6,000
Note:As per answering guidelines, first four parts should be answered. I am submitting answer for first 9 parts. For rest of the answers kindly post rest of the parts separately.
No
Date
General Journal
Debit ($)
Credit ($)
01.
June 1
Cash
1110
57,600
Capital Stock (2,400 shares)
3100
57,600
02.
June 1
Computer equipment
1311
36,480
Cash
1110
26,160
Capital Stock (2,610 shares)
3100
62,640
03.
June 1
Computer equipment
1311
13,920
Office equipment
1211
552
Cash
1110
46,800
Capital Stock (2,553 shares)
61,272
04.
June 2
Computer equipment
1311
135,000
Cash
1110
27,000
Notes Payable
2202
108,000
05.
June 4
Office equipment
1211
600
Accounts Payable
2101
600
06.
June 8
Accounts Payable
2101
120
Office equipment
1211
120
07.
June 10
Notes Payable
2202
20,750
Cash
1110
20,750
08.
June 14
Prepaid Insurance
1130
4,968
Cash
1110
4,968
09.
June 16
Cash
1110
6,000
Computer & Consulting Revenue
4100
6,000
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