Journal Entries in the books of Hannah Venedict

S. No. Particulars Debit ($)

a Cash A/C Dr $ 60,000.00
Ofice Equipemt A/C Cr $ 25,000.00
to, Common stock A/C Cr
(Being capital brought in business)

b Land A/C Dr $ 40,000.00

Building A/C Dr $ 160,000.00
to, Cash A/C Cr
Note Payable, A/C Cr
(Being Land and buliding purchased)

c Office Supplies A/C Dr $ 2,000.00

to, Accounts Payable A/C Cr
(Being supplies purchased)

d Automobile A/c Dr $ 16,500.00

to, Common stock A/C Cr
(Being stock in exchange of assets)

e Office Equipment A/C Dr $ 5,600.00

to, Accounts Payable A/C Cr
(Being supplies purchased on credit)

f Salaries Expense A/C Dr $ 1,800.00

to, Cash A/C Cr
(Being salary paid)

g Cash A/c Dr $ 8,000.00

to, Consulting Revenue A/C Cr
(Being cash claimed for services)

h Utilities Expenses A/C Dr $ 635.00

to, Cash A/C Cr
(Being cash paid for utilities)

i Accounts Payable A/C Dr $ 2,000.00

to, Cash A/C Cr
(Being account payables cleared)
j Office Equipment A/c Dr $ 20,300.00
to, Cash A/C Cr
(Being office equipments purchased on cash)

k Accounts Receivables A/C Dr $ 6,250.00

to, Consulting Revenue A/C Cr
(Being service provided on credit)

l Salaries Expense A/C Dr $ 1,800.00

to, Cash A/C Cr
(Being salary paid)

m Cash A/c Dr $ 4,000.00

to, Accounts Receivables A/C Cr
(Being cash received for services)

n Dividends A/C Dr $ 2,800.00

to, Cash A/C Cr
(Being dividend paid to owner)
ct

Credit ($) Cash (101) Accounts Receivable (106)

Dr Cr Dr Cr
$60,000.00 $6,250.00
$ 85,000.00 $30,000.00 $4,000.00
$1,800.00 $6,250.00 $4,000.00
$8,000.00 $2,250.00
$635.00
$2,000.00 Office Supplies (108)
$ 30,000.00 $20,300.00 Dr Cr
$ 170,000.00 $1,800.00 $2,000.00
$4,000.00
$2,800.00 $2,000.00 $0.00
$2,000.00
$ 2,000.00 $72,000.00 $59,335.00
$12,665.00 Automobiles (164)
Dr Cr
Office Equipment (163) $16,500.00
$ 16,500.00 Dr Cr
$25,000.00 $16,500.00
$5,600.00
$20,300.00 Land (172)
$ 5,600.00 Dr Cr
$50,900.00 $40,000.00

Building (170) $40,000.00

$ 1,800.00 Dr Cr
$160,000.00 Accounts Payable (201)
Dr Cr
$160,000.00 $2,000.00
$ 8,000.00 $5,600.00
Notes Payable (250) $2,000.00
Dr Cr $2,000.00 $7,600.00
$170,000.00 $5,600.00
$ 635.00
$170,000.00 Dividends (319)
Dr Cr
Common Stock (307) $2,800.00
$ 2,000.00 Dr Cr
$85,000.00 $2,800.00
 $16,500.00
Consulting Revenue (403)
$ 20,300.00 $101,500.00 Dr Cr
$8,000.00
Salaries Expense (601) $6,250.00
Dr Cr
$ 6,250.00 $1,800.00 $14,250.00
$1,800.00
Utilities Expense (602)
$3,600.00 Dr Cr
$ 1,800.00 $635.00

$635.00

$ 4,000.00

$ 2,800.00
 Trial Balance

Dr Cr
Cash $12,665.00
Accounts Receivables $2,250.00
Office Supplies $2,000.00
Office Equipment $50,900.00
Automobiles $16,500.00
Building $160,000.00
Land $40,000.00
Accounts Payable $5,600.00
Notes Payable $170,000.00
Common Stock $101,500.00
Dividends $2,800.00
Consulting Revenue $14,250.00
Salaries Expense $3,600.00
Utilities Expense $635.00
$291,350.00 $291,350.00
 Journal Entries in the books of Jenna Aracel

S. No. Particulars Debit ($)

a Cash A/C Dr $ 100,000.00
Ofice Equipemt A/C Dr $ 5,000.00
Drafting Equipment A/c Dr $ 60,000.00
to, Common stock A/C Cr
(Being capital brought in business)

b Land A/C Dr $ 49,000.00

to, Cash A/C Cr
to, Note Payables, A/C Cr
(Being Land purchased)

c Building A/C Dr $ 55,000.00

to, Cash A/C Cr
(Being building purchased)

d Prepaid Insurance A/c Dr $ 3,000.00

to, Cash A/C Cr
(Being prepaid insurance in cash)

e Cash A/C Dr $ 6,200.00

to, Services Revenue A/C Cr
(Being cash collected on services)

f Drafting Equipment A/C Dr $ 20,000.00

to, Cash A/C Cr
to, Notes Payable A/C Cr
(Being drafting equipment purchased)

g Accounts Receivable A/c Dr $ 14,000.00

to, Services Revenue A/C Cr
(Being services given on credit)

h Office Equipment A/C Dr $ 1,150.00

to, Accounts Payable A/C Cr
(Being office equipment purchased on credit)

i Accounts Receivable A/c Dr $ 22,000.00

to, Services Revenue A/C Cr
 (Being services given on credit)

j Advertising Expense A/c Dr $ 1,333.00

to, Accounts Payable A/C Cr
(Being advertising purchased on credit)

k Cash A/C Dr $ 7,000.00

to,Account Receivables A/C Cr
(Being cash provided or services on credit)

l Wages Expense A/C Dr $ 1,200.00

to, Cash A/C Cr
(Being salary paid)

m Accounts Payable A/c Dr $ 1,150.00

to, Cash A/C Cr
(Being cash received for equipments on credit)

n Repairs Expense A/C Dr $ 925.00

to, Cash A/C Cr
(Being repairs expenses paid)

o Dividends A/C Dr $ 9,480.00

to, Cash A/C Cr
(Being dividend paid to owner)

p Wages Expense A/C Dr $ 1,200.00

to, Cash A/C Cr
(Being salary paid)

q Advertising Expense A/c Dr $ 2,500.00

to, Cash A/C Cr
(Being advertising purchased on cash)
 Credit ($) Cash (101) Accounts Receivable (106)
Dr Cr Dr Cr
$100,000.00 $14,000.00
$6,300.00 $22,000.00
$ 165,000.00 $55,000.00 $7,000.00
$3,000.00 $36,000.00 $7,000.00
$6,200.00 $29,000.00
$9,500.00
$ 6,300.00 $7,000.00 Prepaid Insurance (108)
$ 42,700.00 $1,200.00 Dr Cr
$1,150.00 $3,000.00
$925.00
$9,480.00 $3,000.00
$ 55,000.00 $1,200.00
$2,500.00 Drafting equipment (164)
$113,200.00 $90,255.00 Dr Cr
$22,945.00 $60,000.00
$ 3,000.00 $20,000.00

Office Equipment (163) $80,000.00

Dr Cr
$ 6,200.00 $5,000.00 Land (172)
$1,150.00 Dr Cr
$49,000.00

$ 9,500.00 $6,150.00 $49,000.00

$ 10,500.00
Building (170)
Dr Cr Accounts Payable (201)
$55,000.00 Dr Cr
$ 14,000.00 $1,150.00
$1,333.00
$55,000.00 $1,150.00
$1,150.00 $2,483.00
$ 1,150.00 Notes Payable (250) $1,333.00
Dr Cr
$42,700.00 Dividends (319)
$10,500.00 Dr Cr
$ 22,000.00 $9,480.00
 $53,200.00
$9,480.00
Common Stock (307)
$ 1,333.00 Dr Cr Services Revenue (403)
$165,000.00 Dr Cr
$6,200.00
$14,000.00
$ 7,000.00 $165,000.00 $22,000.00
$42,200.00
Wages Expense (601)
Dr Cr Advertising Expense (603)
$ 1,200.00 $1,200.00 Dr Cr
$1,200.00 $1,333.00
$2,500.00
$2,400.00 $3,833.00
$ 1,150.00
Repairs Expense (603)
Dr Cr
$925.00
$ 925.00
$925.00

$ 9,480.00

$ 1,200.00

$ 2,500.00
 Trial Balance

Dr Cr
Cash $22,945.00
Accounts Receivables $29,000.00
Prepaid Insurance $3,000.00
Office Equipment $6,150.00
Drafting Equipment $80,000.00
Building $55,000.00
Land $49,000.00
Accounts Payable $1,333.00
Notes Payable $53,200.00
Common Stock $165,000.00
Dividends $9,480.00
Services Revenue $42,200.00
Wages Expense $2,400.00
Advertising Expense $3,833.00
Repairs Expense $925.00
$261,733.00 $261,733.00