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Journal Entry For Atkin Agency

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Session 3 HW

Journal entry for Atkin Agency Entry Amount Amount

a Cash a/c 200000


To Capital stock 200000

b Building a/c 110000


Land a/c 40000
To Cash a/c 150000

c Cash a/c 125000


To Notes payable 125000

d Office equipment a/c 50000


To Cash a/c 10000
To Account payable a/c 40000

e Wages and salary a/c 13000


To Cash a/c 13000

f Account payable a/c 40000


To Cash a/c 40000

g Accounts recievable a/c 24000


To Advertising revenue a/c 24000

h Wages and salary a/c 15000


To Cash a/c 15000

i Commisions a/c 3500


To Accounts payable 3500

Trial balance of Atkin agency on


Jan 31 2012

Entry Debits Credits

Cash 97000
Building 110000
Land 40000
Office equipment 50000
Commission 3500
Wages and salary 28000
Accounts recievable 24000
Capital stock 200000
Notes payable 125000
Accounts payable 3500
Advertising revenue 24000

Total 352500 352500


T accounts

Cash a/c
Debit Credit
200000 150000
125000 10000
13000
40000
15000

Capital a/c
Debit Credit
200000

Building a/c
Debit Credit
110000

Land a/c
Debit Credit
40000

Notes payable a/c


Debit Credit
125000
Eqipment a/c
Debit Credit
50000

Account payable a/c


Debit Credit
40000 40000
3500

Salaries and wages a/c

Debit Credit
13000
15000

Account recievable a/c


Debit Credit
24000

Advertising revenue a/c


Debit Credit
24000

Commissions a/c
Debit Credit
3500

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