A-1 Photography Project - Group E

A-1 Photography Project - Group E - A-1 PHOTOGRAPHY Sole...

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Unformatted text preview: A-1 PHOTOGRAPHY Sole Proprietorship Practice Set GROUP E Submitted By: Barry Turnmeyer Bobby Segears Sarabel Weaver GENERAL JOURNAL Date Description Debit Credit 9/1 Cash 101 10,000 PHILIP BROWNING, CAPITAL 301 10,000 investment from owner 9/1 Photographic Equipment 108 50,000 PHILIP BROWNING, CAPITAL 301 50,000 investment from owner 9/1 Office Equipment 110 25,000 Philip Browning, Capital 301 25,000 investment from owner 9/1 Vehicle 112 12,500 Philip Browning, Capital 301 12,500 investment from owner 9/1 Cash 101 6,000 Unearned Photo Services Revenue 205 6,000 Cash collected in advance 9/1 Prepaid insurance 104 2,400 Cash 101 2,400 Paid insurance in advance 9/1 Prepaid rent 103 3,600 Cash 101 3,600 Paid rent in advance 9/5 Photographic Supplies 105 264 Accounts Payable 201 264 Purchase Photographic Supplies on account 9/10 Office Equipment 110 4,000 Accounts Payable 201 4,000 Purchase Office Equipment on account 9/10 Miscellaneous Expense 514 18 Cash 101 18 Post Ref. GENERAL JOURNAL Date Description Debit Credit Adjusting Entries 9/30 Unearned Photo Revenue (6000/12) 205 500 Photo Serverice Reveenue 401 500 9/30 Prepaid Insurance 104 200 Insurance Expense 506 200 9/30 Prepaid Rent 103 900 Rent Expense 502 900 9/30 Photo Supplies Expense (1064 - 315) 504 749 Photographic Supplies 105 749 9/30 Office supplies Expense (230-105) 505 125 Office Supplies 106 125 9/30 Depreciation Expense-Photo Equipment 570 400 Accululated Depreciation-Photo Equipment 109 400 9/30 Depreciation Expense-Office Equipment 508 250 Accululated Depreciation-Office Equipment 111 250 9/30 Depreciation Expense-Vehicle 509 500 Accululated Depreciation-Vehicle 113 500 9/30 Salary Expense 501 350 Salary Payable 203 350 9/30 Interest Expense 513 100 Interest Payabe 204 100 Post Ref. A-1 Photo T Accounts Page 4 CASH 101 1-Sep 10000 2400 1-Sep 1-Sep 6000 3600 1-Sep 6-Sep 1563 18 10-Sep 12-Sep 1288 200 12-Sep 12-Sep 20000 350 15-Sep 18-Sep...
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This note was uploaded on 01/11/2012 for the course ACC 100 015016*201 taught by Professor Moniquesmalling during the Spring '10 term at Strayer.

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A-1 Photography Project - Group E - A-1 PHOTOGRAPHY Sole...

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