[yuwan143]

I'm having a hard time analyzing this transactions.. help me please..

jan.04 paid interest on mortgage of 12,000 to young entrep. Associates coop.
Purchased office supplies at account, count-in enterprise worth of 50,000 received OR with no. 1955
Paid insurance on premises 1,115 at greek insurance company issued official receipt no. 1230

jan.15 paid wages 175,000 for the month of December 2009
Purchased 3 water dispensers 5,000 each from dispensers corp. received official receipt no. 1981

jan.20 purchased another cash register for 10,000 from elites office inc. A deposit of 15% was paid with the balance owing in 30 days. Received official receipt no. 1020 and sales invoice with no. 1986

jan.25 paid petrol oil and oil for delivery vehicles 2,000 issued official receipt no. 1918
Cash sales revenue 250,000 from techno wizard. It issued OR with no. 1113 for sales revenue
Purchased 150,000 worth of computer set in cash at telecoms corp. and was received OR no. 1022

jan.27 paid motor vehicle insurance in the amount 1,000 to quills insurance compaly. The owner issued OR no. 0431
Sponsored camp event worth 200,000 received OR no. 0330 from the school organization


There you go... please help me... I did it 3 times and I'm always wrong.. I'm having a hard time analyzing this.. please help me making the journal entries for these.. please... thanks...

[pready]

Jan 4, your first transaction should be a Debit to either Interest Payable or Interest Expense, but because not enough information given to me to figure out I would have to quess it would be to Interest payable because the interest due should have been expensed in the previous accounting period and your Credit will be to Cash for the amount.

Your second transaction will be a Debit to Office Supplies and your Credit will be to Accounts Payable for the amount.

Your last transaction should be a Debit to Prepaid Property Insurance and your Credit will be to Cash for the amount.

Jan 15 first transaction should be a Debit to Wages Payable and the Credit should be to Cash for the amount.

Last transaction should be a Debit to either an Expense account or a Property, Plant, and Equipment account, but there is not enough information given, though I would guess an Expense account because of the materiality principle and your credit will be to Cash for the amount.

Jan 20 this will be similar to the previous transaction as your Debit will be to either an Expense account or to a Property, Plant and Equipment account because not enough information given, but I wuold guess to to P,P, & E account and you will have 2 Credits entries, one for Cash for the amount paid and your other one to Accounts Payable for the remainder due.

Jan 25 first transaction will be Debit to an Expense account and your Credit will be to Cash for the amount.

Second transaction will be a Debit to Cash and a Credit to Sales Revenue for the amount.

Last transaction will be a Debit to Property, Plant, and Equipment, while your Credit will be to Cash for the amount.

Jan 27 your Debit will be to Prepaid Moter Vehicle Insurance and your Credit will be to Cash for the amount.

Your final transaction does not have enough information but I would have to assume the organization did not have the event yet, so your Debit will be to Cash if cash was received or to Accounts Receivable if you did not receive cash and your Credit will be to an Unearned Revenue account (liability account) if you did not have the event or to a Revenue account if you did have the event.

Since information is lacking in different areas such as to the previous accounting period and for the proper accounts to use I had to make educated guesses and I gave you what accounts to use based on different possibilities.