Originally Posted by Faded_Dreams
I need journal entries and adjustments for these transactions
Journalize :
Tim Duncan, the owner, invests $40,000 cash.
Prepaid $12,000 cash for twelve months' rent for office space.
Made credit puchase for $5,000 in office equipment.
Completed work for a client and immediately recieved $8,000 cash.
Completed a $4,000 project for a client on account.
Paid $3,000 cash on account.
Reveived $2,000 cash on account.
Purchased $900 of office supplies on credit.
Paid $700 cash for this month's utility bill.
Paid Employees' wages $2,000
Duncan withdrew $1,500 cash for personal use
Adjustments :
One months prepaid rent has expired
Office supplies on hand at the end of the month were $300
Fees Earned but unbilled $5,000
Wages accrued but unpaid $600
Depreciation Expense, $800
Accounts :
Cash, Accounts Receivable, Accounts Payable, Office Supplies, Office Equipment, Accumalted Depreciation, Depreciation, Prepaid Rent, Wages Payable, Capital, Drawing, Fees Earned, Wage Expense, Rent Expense, Office Supplies Expense, Depreciation Expense, Ulitity Expense