General Journal

Date Accounts and Description Debit Credit

October 1, 2018 Cash $20,000  
Common stock $20,000
  To recognize issuance of common stock    
       

October 1, 2018 Equipment: van $11,000  

  Cash   $4,000
Bank loan $7,000
  To recognize a purchase of a delivery account    
       

October 3, 2018 Baking supplies(expense) $900  

  Account payable   $900
To recognize a purchase of supplies on account
       
       
October 5, 2018 Pre-Paid insurance $1,800
  Cash   $1,800
  Paid for insurance policy    

       
October 12,
2018 Accounts receivable $4,800  
Service revenue $4,800
  To recognize a bill to customers for baking services    
       

October 18,
2018 Bank loan $1,500  
  Cash   $1,500
Paid liabiltiy of the delivery van
       
       
October 18,
Accounts payable
2018 $500
  Cash   $500
  Paid for baking services    

       
October 20,
2018 Salaries expense $1,700  
Cash $1,700
  Paid employee salaries    
       

October 21,
2018 Cash $1,200  
  Accounts receivable   $1,200
Collected customer billed from October 12
       
       
October 25,
Accounts receivable
2018 $1,900
  Service revenue   $1,900
  To recognize a bill to customers for baking services    

       
October 31,
2018 Gas & oil expense $500  
Cash $500
  Paid gas and oil expense for delivery    
       

October 31,
2018 Dividends $800  
  Cash   $800
Paid dividends with cash
       
       

    Debit Credit
October 31,
2018 accounts receivable $2,500  
  service revenue   $2,500
Adjusting unbilled fees
       
October 31,
2018 Depreciation expense $500  
Accumulated depreciation $500
  Adjusting depreciation    
       

October 31,
2018 Insurance expense $150  
  Pre-Paid Insurance   $150
Adjusting the amount of money paid for the insurance
       
       
October 31,
Baking supplies expense
2018 $600
  Baking supplies   $600
  Adjusting for the baking cleaning supplies    

       
October 31,
2018 Salaries expense $500  
Salaries payable $500
  Accrued employee salaries    
       

Cash Accounts Receivable

Debit Credit Debit
1. $20,000     5. $4,800
  2. $20,000  
  4. $1,800   10. $1,900
  6. $1,500 $6,700
  7. $500    
  8. $1,700 A. $2,500
9. $1,200      
  11. $500  
  12. $800    
$10,400    

Equipment: Van Accum. Depreciation

Debit Credit Debit
2. $11,000      
   
       
   
       
   
       

Salaries Payable Revenue

Debit Credit Debit
  E. $500    
     
       
     
       
     
      $9,200
   

Insurance
Expense Supplies Expense
Debit Credit Debit
C. $150     D. $600
  $150  
       
   
       
   
       
   

Common Stock Dividend

Debit Credit Debit
  1. $20,000   12. $800
   
       
   
       
   
       

Pre-Paid Insurance
Credit Debit Credit
    4. $1,800  
9. $1,200  
      C. $150
 
       
 
       
 
       
 

Accounts Payable
Credit Debit Credit
B. $200     3. $900
7. $500
      $400
 
       
 
       
 Gas & Oil Expense
Credit Debit Credit
5. $4,800   11. $500  
10. $1,900   $500
$6,700      
 
A. $2,500      
$9,200  
       

Depreciation
Expense
Credit Debit Credit
    B. $500  
$600   $500
       
 
       
 
       
 

Retained Earnings
Credit Debit Credit
      $5,850
$800 $800
      $5,050
 
       
 
       

Supplies
Debit Credit
3. $900  
  D. $600
   
 
   
 
   
 
    
 

Bank Loan
Debit Credit
  2. $7,000
6. $1,500
  $5,500
 
   
 
   

Salaries Expense
Debit Credit
8. $1,700  
E. $500  
  $2,200
 
   
 
   

Income
Summary
Debit Credit
  $8,100
$2,200
$600  
$500
$200  
$150
  $4,450
$4,450

Account Beginning
 Balance
Debit Credit
Cash   0  
Accounts Receivable 0
Baking Supplies   0  
Prepaid Insurance 0
Equipment   0  
Accumulated Deprec. 0
       
Accounts Payable   0
Salaries Payable     0
Bank Loan   0
       
Common Stock   0
Retained Earnings     0
Dividends   0
       
Service Revenue   0
Gas & Oil Expense   0  
Baking Supplies Expense 0
Depreciation Expense   0  
Insurance Expense 0
Salaries Expense   0  
$0 $0

Unadjusted Adjusting
Trial Balance Entries
Debit Credit Debit Credit
$10,400      
$5,500 $2,500
$900     $600
$1,800   $250
$11,000      
    $200
       
  $400  
      $500
  $5,500  
       
  $20,000  
       
 $800  
       
  $6,700  
$500      
   
       
   
$1,700      
$32,600 $32,600 $3,950 $3,950

Adjusted Trial
Balance
Debit Credit
$10,400    
$8,000
$300    
$1,650
$11,000    
  $200
     
  $400
  $500  
  $5,500
     
  $20,000
     
$800
     
  $9,200
$500    
$600
$200    
$150
$2,200    
$35,800 $35,800
6. It was extremely hard to do. At first, I was shocked and I did not anything and how to do

it. I send you a message because I was lost. After that, I started reviewing the materials again and

again until I started to take a grasp on them. This is my first time I work with numbers especially

the accounting equations.

7. Right now, I can say that I am starting to get into the atmosphere of accounting, in

general. I know that it is just the beginning. I learned the difference between the income

statement and the balance sheet, how can we convert random numbers and financial statements

into organized financial statements using journal entries and other ways. I think that this

information will be forgotten if there is not enough practice.

I read on the internet that an accountant will work on specific programs for accounting.

Will we get trained on how to use them in the university?