Chapter 2 ACCT QUES 1

Transactions

Birdy Consulting Services has the following accounts
in its ledger
: Cash; Accounts Receivable
; Supplies; Office Equipment; Accounts Payable; B. J. Faust, Capital; B. J. Faust, Drawing; Fees Earned; Rent Expense; Advertising Expense; Utilities Expense; and Miscellaneous Expense.

Journalize the following selected transactions for January 20Y2 in a two-column journal. Journal entry explanations may be omitted. If an amount box does not require an entry, leave it blank.

DateTransactionsJan. 1.

4.

5.

6.

12.

20.

27.

30.

31.

31.

31.

Paid rent for the month, $4,200.

Paid advertising expense, $2,650.

Paid cash for supplies, $1,140.

Purchased office equipment on account, $17,400.

Received cash from customers on account, $5,690.

Paid creditor on account, $1,670.

Paid cash for miscellaneous expenses, $720.

Paid utility (heating) bill for the month, $270.

Fees earned and billed to customers for the month, $37,900.

Paid utility (electricity) bill for the month, $450.

Paid B. J. Faust cash for personal use, $2,900.

DateAccountDebitCredit

Accounts PayableAccounts ReceivableCashRent ExpenseRent Payable

Advertising ExpenseAdvertising PayableAdvertising RevenueB. J. Faust, DrawingCash

Accounts PayableAccounts ReceivableCashSuppliesSupplies Revenue

Accounts PayableAccounts ReceivableCashOffice EquipmentOffice Equipment Expense

Accounts PayableAccounts ReceivableCashFees EarnedFees Payable

Accounts PayableAccounts ReceivableCashFees ExpenseMiscellaneous Expense

Accounts PayableAccounts ReceivableCashMiscellaneous ExpenseMiscellaneous Payable

Accounts PayableAccounts ReceivableCashUtilities ExpenseUtilities Revenue

Accounts PayableAccounts ReceivableCashFees EarnedFees Expense

Jan. 31

Accounts PayableCashUtilities ExpenseUtilities PayableUtilities Revenue

Jan. 31

Accounts PayableB. J. Faust, CapitalB. J. Faust, DrawingCashDrawing Expense

20Y2 Jan. 1
	Accounts PayableAccounts ReceivableCashRent ExpenseRent Payable
Jan. 4
	Advertising ExpenseAdvertising PayableAdvertising RevenueB. J. Faust, DrawingCash
Jan. 5
	Accounts PayableAccounts ReceivableCashSuppliesSupplies Revenue
Jan. 6
	Accounts PayableAccounts ReceivableCashOffice EquipmentOffice Equipment Expense
Jan. 12
	Accounts PayableAccounts ReceivableCashFees EarnedFees Payable
Jan. 20
	Accounts PayableAccounts ReceivableCashFees ExpenseMiscellaneous Expense
Jan. 27
	Accounts PayableAccounts ReceivableCashMiscellaneous ExpenseMiscellaneous Payable
Jan. 30
	Accounts PayableAccounts ReceivableCashUtilities ExpenseUtilities Revenue
		Jan. 31
	Accounts PayableAccounts ReceivableCashFees EarnedFees Expense
	Accounts PayableCashUtilities ExpenseUtilities PayableUtilities Revenue
	Accounts PayableB. J. Faust, CapitalB. J. Faust, DrawingCashDrawing Expense