House of Decor June - Journal Date Jun 3 Description...

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JournalDateDescriptionPRDebitCreditJun 3Advertising Expense18,500Cash -- Checking Account18,500Notes Payable -- Short Term2,840Interest Expense142Cash -- Checking Account2,9824Cash -- Checking Account20,580Sales Discount420Accounts Receivable, Romi Architect, P.A.21,0006Rent Expense3,000Cash -- Checking Account3,0007Accounts Payable, Golden Antiques18,000Cash -- Checking Account18,000Cash -- Checking Account25,000Decorating Fees25,000Accounts Payable, A & D Inc.3,200Cash -- Checking Account3,20010Merchandise Inventory45,000Accounts Payable, Golden Antiques45,000Accounts Receivable, Fiona's Fashion Co.21,700Decorating Fees21,70014Cash -- Checking Account26,500Sales -- Furniture26,500Cost of Merchandise Sold16,560Merchandise Inventory16,56018Cash -- Checking Account19,000Accounts Receivable, Athena & Co.19,00019Cash -- Checking Account18,000Accounts Receivable, La Epoca Beauty Boutique18,000
Cash -- Checking Account35,000Decorating Fees35,000Accounts Receivable, Dino's Special Moments26,000Sales -- Furniture26,000Cost of Merchandise Sold16,250Merchandise Inventory16,25021Accounts Receivable, Rodriguez & Associates17,000Decorating Fees17,000Sales Returns and Allowances8,000Accounts Receivable, Dino's Special Moments8,000Merchandise Inventory5,000Cost of Merchandise Sold5,00025Cash -- Checking Account32,000Accounts Receivable, Blue Ocean Resort32,00027Land31,000Cash -- Checking Account9,300Notes Payable -- Long Term21,70029Utilities Expense325Cash -- Checking Account325Telephone Expense350Cash -- Checking Account350Postage Expense450Cash -- Checking Account450Automobile Expense775Cash -- Checking Account775Salaries Expense -- Administrative7,500FICA Tax Payable563WH Income Tax Payable1,500Cash -- Checking Account5,438Payroll Taxes Expense848FICA Tax Payable563SUTA Tax Payable225FUTA Tax Payable60
Supplies Expense115Postage Expense70Cash -- Checking Account185Cash Dividends3,500Cash -- Checking Account3,500Adjusting Entries:30Insurance Expense500Prepaid Insurance500Supplies Expense525Supplies525Uncollectible Account Expense1,161Allowance for Doubtful Accounts1,161Depreciation Expense178Accumulated Depreciation178Closing Entries:Decorating Fees334,600Sales -- Furniture106,500Income Summary441,100Income Summary214,865Sales Discount420Sales Returns & Allowances8,000Cost of Merchandise Sold62,935Salaries Expense -- Administrative39,300Rent Expense14,000Advertising Expense66,800Automobile Expense3,575Supplies Expense4,100Insurance Expense3,000Utilities Expense1,490Telephone Expense1,970Postage Expense1,850Depreciation Expense356Uncollectible Accounts Expense5,232Payroll Taxes Expense1,695Interest Expense142Income Summary226,235Retained Earnings226,235
Retained Earnings3,500Cash Dividends3,500
My Place, House of DécorAdjusted Trial BalanceJune 30, 20--Acct. No.Account Title1001Petty Cash1002Cash -- Checking Account1004Accounts Receivable1005Allowance for Doubtful Accounts1007Merchandise Inventory1009Supplies1011Prepaid Insurance1013Prepaid Rent1015Deposits1020Land1023Furniture and Fixtures1024Accumulated Depreciation2001Accounts Payable2002Notes Payable -- Short Term2005FICA Tax Payable2006SUTA Tax Payable2007FUTA Tax Payable2008WH Income Tax Payable2020Notes Payable -- Long Term3001Capital Stock3008Cash Dividends4001Decorating Fees4002Sales -- Furniture4003Sales Discount4004

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Term
Spring
Professor
Ms.ann
Tags
Accounting, 1966, 1981, 1962, 1982

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