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JOURNAL ENTRIES FOR PIZZA CREATIONS LTD
Date	Entry	Debit	Credit
Aug-03	Wages	56
	To Cash		56
	Hourly wages for Assistant
Aug-05	Cash	75
	Unearned Revenue	50
	To Teaching Revenue		125
	Full settlement made for teaching and advance received in July
Aug-06	Cash	250
	To Accounts Receivable		250
	Cheque received for class given on Jul'27
Aug-10	Cash	625
	To Unearned Revenue		625
	Advance received for classes
Aug-17	Acounts payable	50
	To Cash		50
	Outstanding Cell phone Invoice paid
Aug-19	Cash	50
	To Unearned Revenue		50
	Deposit received for classes
Aug-23	Cash	3,000
	Accounts Receivable	500
	To Teaching Revenue		3,500
	Additional revenue earned and outstanding recorded
Aug-23	Baking Supplies	1,250
	To Cash		1,250
	Additional Supplies purchased
Aug-23	Wages	800
	To Cash		800
	Hourly wages for Assistant
Aug-23	Salary	500
	To Cash		500
	Salary to Allessandra paid
Aug-30	Dividend payable	100
	To Cash		100
	Dividend paid to Common share holder
Aug-30	Depreciation	20
	To Baking Equipment		20
	Depreciation for the month has been recognised
Aug-30	Interest	15
	To note payable		15
	Interest payable for July and Aug has been recognised
Aug-30	Insurance	100
	To Prepaid Insurance		100
	Insurance charge for the month has been recognised
Aug-30	Unearned revenue	375
	To Teaching Revenue		375
	revenue for 3 classes provide during the month has been recognised
Aug-30	Income and Expenditure A/c	310
	To Income Tax payable		310
	Income is not an expense and hence directly debited to Income and expendiure ac

In July after incorporating Pizza Creations, Ltd., Alessandra began operations giving pizza classes. Pizza Creations is gearing up for a busy fall. Here is the trial balance at July 30 PIZZA CREATIONS LTD.' Trial Balance+ July 30, 2016+* Debit' Credit- +' $ 330+ 250 95 125 1,200 1,200 Cash+* Accounts receivable J Advertising supplies Baking supplies Prepaid insurance Baking equipment Unearned revenue Accounts payable Note payable + Common shares Teaching revenue Telephone expense+-' $ 50 50 2,000 800 350 50 $3,250 Totals $3,250

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