[benavny]

How would you determine the excess of revenues over expenses?

[pready]

Revenues minus Expenses

[constantmom]

On July 1, 2012, Kim Wheeler established an interior decorating business, Aztec Designs. During the month, Kim completed the following transactions related to the business.



Jul.

1

Kim transferred cash from a personal bank account to an account to be used for the business in exchange for capital stock, $ 22,700.





4

Paid rent for period of July 4 to end of month, $ 2,200.





10

Purchased a used truck for $ 19,000, paying $ 2,000 cash and giving a note payable for the remainder.





13

Purchased equipment on account, $ 8,850.





14

Purchased supplies for cash, $ 1,520.





15

Paid annual premiums on property and casualty insurance, $ 3,410.





15

Received cash for job completed, $ 9,530.





21

Paid creditor a portion of the amount owed for equipment purchased on July 13, $ 3,160.





24

Recorded jobs completed on account and sent invoices to customers, $ 10,850.





26

Received an invoice for truck expenses, to be paid in August, $ 1,000.





27

Paid utilities expense, $ 1,140.





27

Paid miscellaneous expenses, $ 410.





29

Received cash from customers on account, $ 4,540.





30

Paid wages of employees, $ 3,020.





31

Paid dividends, $ 2,520.

[pready]

These are simple journalizing transactions. What is your question? Or do you not know how to journalize a simple transaction.