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    Accounting Journal (Shiela) Output 1

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    TJ JT
    The general journal of JGF Company for January 2014 shows various debit and credit transactions including an initial investment of $250,000, purchases of equipment and supplies on account, services rendered that generated $35,000 in cash, and operating expenses paid of $34,000 at the end of the month.

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    Accounting Journal (Shiela) Output 1

    Uploaded by

    TJ JT
    2K views5 pages
    The general journal of JGF Company for January 2014 shows various debit and credit transactions including an initial investment of $250,000, purchases of equipment and supplies on account, services rendered that generated $35,000 in cash, and operating expenses paid of $34,000 at the end of the month.

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    The general journal of JGF Company for January 2014 shows various debit and credit transactions including an initial investment of $250,000, purchases of equipment and supplies on account, services rendered that generated $35,000 in cash, and operating expenses paid of $34,000 at the end of the month.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    2K views5 pages

    Accounting Journal (Shiela) Output 1

    Uploaded by

    TJ JT
    The general journal of JGF Company for January 2014 shows various debit and credit transactions including an initial investment of $250,000, purchases of equipment and supplies on account, services rendered that generated $35,000 in cash, and operating expenses paid of $34,000 at the end of the month.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
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    JGF Company

    General Journal
    as of January, 2014

    DATE ACCOUNTS TITLE AND EXPLANATIONS PR DEBIT (Dr) CREDIT (Cr)


    Jan-01 Cash 250,000.00
    Dr. Who, Capital 250,000.00
    Initial Investment
    Jan-03 Organization Expense 10,000.00
    Cash 10,000.00
    Payment for business permit
    Jan-05 Office Supplies 7,500.00
    Accounts Payable 7,500.00
    Purchases supplies on account
    Jan-10 Equipment 35,000.00
    Cash 5,000.00
    Notes Payable 30,000.00
    Purchased equipments
    Jan-11 Furniture and Fixtures 25,000.00
    Accounts Payable 25,000.00
    Purchases furniture and fixtures on account
    Jan-12 Cash 35,000.00
    Professional Fees 35,000.00
    Cash from services rendered
    Jan-15 Accounts Receivable 25,000.00
    Professional Fees 25,000.00
    Billed customers on account
    Jan-30 Cash 30,000.00
    Notes Payable 30,000.00
    Loan from the bank
    Jan-30 Cash 15,000.00
    Accounts Receivable 15,000.00
    Collected from accounts receivable
    Jan-31 Salaries Expense 20,000.00
    Rent Expense 10,000.00
    Utilities Expense 4,000.00
    Cash 34,000.00
    Payment for operating services
    Jan-31 Cash 5,000.00
    Dr. Who, Drawing 5,000.00
    Withdrawal for personal use
    471,500.00 471,500.00

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