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Small Business Financial Entries

The document is a journal for a company's transactions in January 2014. It records cash investments, purchases of supplies, equipment, and furniture on credit and with loans. It also records revenue from services, collection of accounts receivable, and payments of salaries, rent, utilities, and a cash withdrawal.

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Carlo Roi Jaycent Cusi
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220 views3 pages

Small Business Financial Entries

The document is a journal for a company's transactions in January 2014. It records cash investments, purchases of supplies, equipment, and furniture on credit and with loans. It also records revenue from services, collection of accounts receivable, and payments of salaries, rent, utilities, and a cash withdrawal.

Uploaded by

Carlo Roi Jaycent Cusi
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Date Explanation/Description Ref Debit Credit

2014

Jan. 3 Cash 101 250,000


JGF, Capital 301 250,000
Owner’s investment of cash on
company’s bank account

2 Organization Expense 625 10,000


Cash 101 10,000
Payment of business permit to city
hall

5 Office Supplies 131 7,500


Accounts Payable 202 7,500
Purchased supplies on account

10 Equipment 150 35,000


Notes Payable 202 30,000
Cash 101 5,000
Purchased of equipment

11 Furniture & Fixtures 145 25,000


Accounts Payable 202 25,000
Purchased of furniture and fixtures
on account

12 Accounts Receivable 111 35,000


Professional Fees 406 35,000
Received cash from various
customers for services rendered

15 Accounts Receivable 111 25,000


Cash 101 25,000
Billed various customers on account
30 Cash 101 30,000
Notes Payable 212 30,000
Borrowed money from the bank by
signing on notes
101 15,000
Cash 111 15,000
Accounts Receivable
Collected payments from various
customers from Jan. 15

31 Salaries Expense 611 20,000


Rent Expense 615 10,000
Utilities Expense 621 4,000
Cash 101 34,000
Payment for operating expense

JGF, Drawing 301 5,000


Cash 101 5,000
Withdrawal of cash from business
for personal use.

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