Asistensi Pengantar Akuntansi I Tim Asdos

GENERAL JOURNAL AND LEDGER

Normal Balance of Accounts

Increase Decrease
(Normal Balance)
Balance Sheet Accounts:
Asset Debit Credit
Liability Credit Debit
Equity :
Capital Credit Debit
Drawing Debit Credit
Income Statement Accounts :
Revenue Credit Debit
Expense Debit Credit

Exercise

Maria Juarez is a licensed dentist. During the first month of the operation of her business, the
following events and transactions occured.

April 1 Shareholders invests $40,000 Cash in exchange for ordinary shares

1 Hired secretary-receptionist at salary of $600 per week payable monthly

2 Paid office rent for the month $1,000

3 Purchased dental supplies on account from Smile Company $4,000

10 Provided dental services and billed insurance companies $5,100

11 Received $1,000 cash advances from Trudy Borke for an implant

20 Received $2,100 Cash for services completed and delivered to Jhon Stanley

30 Paid Secretary-receptionist for the month $2,400

30 Paid $1,600 to Smile Company for accounts payable due

Maria uses following chart of accounts : No. 101 Cash, No. 112 Accounts Receivable, No. 126
Supplies, No. 201 Accounts Payable, No. 209 Unearned revenue, No. 311 Share Capital-Ordinary, No.
400 Services Revenue, No. 726 salaries Expense, and no. 729 Rent Expense.

Instruction :

a. Journalize the transactions

b. Post to the ledger account
c. Prepare a trial balance on April 30, 2012
 Asistensi Pengantar Akuntansi I Tim Asdos

Solution:

a. General Journal
J-1

Date Account Titles& Explanations Ref Debit Credit

April 1 Cash 101 $40,000
Share Capital -Ordinary 311 $40,000
April 2 Rent Expense 729 $1,000
Cash 101 $1,000
April 3 Supplies 126 $4,000
Accounts Payable 201 $4,000
April 10 Accounts Receivable 112 $5,100
Service revenue 400 $5,100
April 11 Cash 101 $1000
Unearned Revenue 209 $1000
April 20 Cash 101 $2,100
Service revenue 400 $2,100
April 30 Salaries Expense 726 $2,400
Cash 101 $2,400
April 30 Accounts Payable 201 $1,600
Cash 101 $1,600
 Asistensi Pengantar Akuntansi I Tim Asdos

b. GENERAL LEDGER
Cash No. 101

Balance
Date Explanation Ref Debit Credit
Debit Credit
April 1 J-1 $40,000 $40,000
April 2 J-1 $1000 $39,000
April 11 J-1 $1,000 $40,000
April 20 J-1 $2,100 $42,100
April 30 J-1 $2,400 $39,700
April 30 J-1 $1,600 $38,100

Accounts Receivable No. 112

Balance
Date Explanation Ref Debit Credit
Debit Credit
April 10 J-1 $5,100 $5,100

Supplies No. 126

Balance
Date Explanation Ref Debit Credit
Debit Credit
April 3 J-1 $4,000 $4,000

Accounts Payable No.201

Balance
Date Explanation Ref Debit Credit
Debit Credit
April 3 J-1 $4,000 $4,000
April 30 J-1 $1,600 $2,400
 Asistensi Pengantar Akuntansi I Tim Asdos

Unearned Revenue No. 209

Balance
Date Explanation Ref Debit Credit
Debit Credit
April 11 J-1 $1,000 $1,000

Share Capital-Ordinary No.311

Balance
Date Explanation Ref Debit Credit
Debit Credit
April 1 J-1 $40,000 $40,000

Service Revenue No.400

Balance
Date Explanation Ref Debit Credit
Debit Credit
April 10 J-1 $5,100 $5,100
April 20 J-1 $2,100 $7,200

Salaries Expense No. 726

Balance
Date Explanation Ref Debit Credit
Debit Credit
April 30 j-1 $2,400 $2,400

Rent expense No.729

Balance
Date Explanation Ref Debit Credit
Debit Credit
April 2 J-1 $1,000 $1,000
 Asistensi Pengantar Akuntansi I Tim Asdos

c.

Maria Juarez
Trial Balance
April 30, 2012

Debit Credit

Cash $38,100

Accounts Receivable $5,100

Supplies $4,000

Accounts Payable $2,400

Unearned Revenue $1,000

Share Capital – Ordinary $40,000

Service Revenue $7,200

Salaries Expense $2,400

Rent Expense $1,000

$50,600 $50,600