[pmp816]

I had to make journal entries from an excerpt in my accounting book. It gives a hint and states that the total of the credit column is $49,825. When I added and subtracted my credit entries I did not come up with the same dollar amount. I asked the teacher at the end of class today if he could help me but he didn't have much time. All he offered me was a glance at my entries and said it looks like I'm on the right track, but didn't tell me what I was doing wrong. Any help would be appreciated. Thanks :]

Here's the excerpt(I put my journal entries after each one):

On June 1, 2008, Brooks Dodd established an interior decorating business, Coordinated Designs. During this month, Brooks completed the following transactions related to the business:

June 1: Brooks transferred cash from a personal bank account to an account to be used for the business in exchange for capital stock, $18,000.
Cash $18,000 DBT
Capital Stock $18,000 CRD

June 5: Paid rent for period of June 5 to end of month. $2,150.
Rent expense $2150 DBT
Cash $2150 CRD

June 6: Purchased office equipment on account, $8,500.
Supplies $8,500 DBT
Accounts Payable $8,500 CRD

June 8: Purchased a used truck for $18,000 paying $10,000 cash and giving a note payable for the remainder.
Truck $18,000 DBT
Cash $10,000 CRD
Note Payable $8,000 CRD

June 10: Purchased supplies for cash, $1,200.
Supplies $1,200 DBT
Cash $1,200 CRD

June 12: Received cash for job completed, $10,500.
Accounts receivable $10,500 DBT
Fees Earned $10,000 CRD

June 15: Paid annual premiums on property and casualty insurance, $2,400.
Prepaid insurance $2,400 DBT
Cash $2,400 CRD

June 23: Recorded jobs completed on account and sent invoices to customers, $5,950.
Accounts receivable $5,950 DBT
Cash $5,950 CRD

June 24: Received an invoice for truck expenses, to be paid in July, $1,000.
Accounts Payable $1,000 CRD
Cash $1000 DBT

June 29: Paid utilities expense, $1,200.
Utilities Expense $1,200 DBT
Cash $1,200 CRD

June 29: Paid msc expenses, $400.
MSC Expense $400 DBT
Cash $400 CRD

June 30: Received cash from customers on account, $3,200.
Cash $3,200 DBT
Accounts Receivable #3,200 CRD

June 30: Paid wages of employees, $2,900.
Wage Expense $2,900 DBT
Cash $2,900 CRD

June 30: Paid creditor a portion of the amount owed for equipment purchased on June 6, $2,125.
Accounts Payable $2,125 DBT
Supplies $2,125 CRD

June 30: Paid dividends of $1,750.
Dividends $1,750 DBT
Cash $1,750 CRD

[pready]

Jun 6, Debit Office Equipment

Jun 12, Deibt Cash

Jun 24, Debit an Expense account, Credit Assounts Payable

Jun 30, for the payment of Equipment, Credit Cash

Set up T-accounts for for your Accounts, then post your transactions to the T-acocunts. Next you will figure out the ending balance for your acocunts.

Next you should set up a trial balance, add your debits and add your credits. Your Debits should equal your Credits.