Acc 1N: Accounting for Non-Accountants
Journalizing Entries
Seatwork
BINI Consultancy Firm has provided the following transactions for May 2024:
5/1
5/3
5/4
5/5
5/6
5/7
5/9
5/10
5/11
5/12
5/14
5/16
5/17
5/18
5/19
5/20
5/21
5/22
5/23
5/24
5/26
5/27
5/28
5/30
5/31
The owner invested 200,000 to the business
Paid 4,500 for business permits
Purchased office supplies worth 7,500
Bought computer and printer, 35,000
Rendered services on account, 15,000
Additional investment, 150,000
Collected cash for services rendered, 18,000
Purchased additional office furniture on account, 11,500
Collected half of the amount for the services rendered last 5/6
Purchased a parcel of land for future expansion, 200,000
Paid salaries to staffers, 22,000
Paid Colet Advertising Services, 2,500
Paid electric bill, 4,500
The owner withdrew 27,000
Rendered services, 40,000. The client issued a promissory note.
Paid water bill, 700
Bought additional office supplies on credit, 5,200
Paid rent, 9,000
Rendered services for 50,000. The client paid half of the amount in cash.
Paid the office furniture in full purchased last 5/10
Additional withdrawal is made by the owner, 10,000
Rendered services on account, 39,000
Paid staff salaries, 25,000
Additional capital is made, 45,000
Rendered services, 31,000
Account titles to be used:
Cash
Accounts receivable
Notes receivable
Office supplies
Office equipment
Furniture and fixtures
Land
Accounts payable
Required:
Taxes and Licenses
Salaries and Wages
Marketing expenses
Utilities expenses
Rent expenses
Service income
BINI, Capital
BINI, Drawing
Prepare journal entries for May 2024.