On January 1, 2019, Sharon Matthews established Tri-City Realty, which completed the following transactions during the...

4.2 Ratings (516 Votes)

journal Entries					T- Accounts			Unadjusted Trial Balance
date	Explanation	debit	credit		cash			explanation	Debit	credit
1-Jan	cash	29000		capital	29000	rent expense	2350	cash	33480
	capital		29000	fees earned	14640	accounts payable	800	supplies	1150
						Autompbile expense	1520	accounts payable		1450
2-Jan	rent expense	2350				miscellenous expense	890	capital		29000
	cash		2350			salaries expense	2000	fees earned		14640
						drawings	2600	rent expense	2350
3-Jan	supplies	2250				balance	33480	Automobile expense	1520
	accounts payable		2250	total	43640	total	43640	miscelleneous expense	890
								supplies expense	1100
4-Jan	accounts payable	800			capital			drawings	2600
	cash		800	balance	29000	cash	29000		2000
								total	45090	45090
5-Jan	cash	14640			rent expense
	fees earned		14640	cash	2350	balance	2350	Amount of total revenue recorded		14640
								amount of total expenses recorded		5860
6-Jan	Autompbile expense	1520			supplies			amount of net income		8780
	miscellenous expense	890		accounts payable	2250	supplies expense	1100
	cash		2410			balance	1150	Inncrease or decrease in owners equity
				total	2250	total	2250	capital		29000
7-Jan	salaries expense	2000						add net income		8780
	cash		2000		accounts payable			less drawings		2600
				cash	800	supplies	2250	owners equity at month end		35180
8-Jan	supplies expense	1100		balance	1450			less beginning balane		29000
	supplies		1100	total	2250	total	2250	Inncrease or decrease in owners equity		6180

9-Jan	drawings	2600			fees earned
	cash		2600	balance	14640	cash	14640

					Automobile expense
				cash	1520	balance	1520

					miscelleneous expense
				cash	890	balance	890

					supplies expense
				supplies	1100	balance	1100

					drawings
				cash	2600	balance	2600

					salaries expense
				cash	2000	balance	2000

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Jan.	1	Sharon Matthews transferred cashfrom a personal bank account to an account to be used for thebusiness, $29,000.
	2	Paid rent on office and equipmentfor the month, $2,350.
	3	Purchased supplies on account,$2,250.
	4	Paid creditor on account,$800.
	5	Earned fees, receiving cash,$14,640.
	6	Paid automobile expenses (includingrental charge) for month, $1,520, and miscellaneous expenses,$890.
	7	Paid office salaries, $2,000.
	8	Determined that the cost ofsupplies used was $1,100.
	9	Withdrew cash for personal use,$2,600.

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