Jones Surf Shop has now hired you to be their accountant for all company operations. As you take your n
going to familiarize yourself with the types of transactions and reports that Jones Surf Shop is going to n
of their business.
The following are all transactions that occurred during your first week of work. Journalize each of the foll
transactions. Be sure to follow proper journal writing rules
A. On February 3, 2023, Office furniture is purchased. The furniture cost $2,500 and the payment will be due for
B. On February 4, 2023, An advertisement was run in the newspaper at a total cost of $250. Cash was paid when
C. On February 4, 2023, Jeremy performed a private surf class for a client. The client was billed $535.
D. On February 6, 2023, Office supplies worth $250 are purchased with cash
E. On February 7, 2023, A new rental contract for the shop is signed and six month of rent at $500 a month is pr
F. On February 7, 2023, A utility bill for $150 is paid with cash
G. On February 7, 2023, Jeremy brought in another investor for the shop. This investor contributed $15,000 in ca
A. JOURNAL
Date Description Debit Credit
February 3, 2023 Office Furniture $ 2,500
Accounts Payable $ 2,500
Purchased Office Furniture
B. JOURNAL
Date Description Debit Credit
February 4, 2023 Advertising Expense $ 250
Cash $ 250
Newspaper Advertisement
C. JOURNAL
Date Description Debit Credit
February 4, 2023 Accounts Receivable $ 535
Service Revenue $ 535
Private Surf Class service
D. JOURNAL
Date Description Debit Credit
February 6, 2023 Office Supplies $ 250
Cash $ 250
Purchase Office Supplies
E. JOURNAL
, Date Description Debit Credit
February 7, 2023 Prepaid Rent $ 500
Cash $ 500
Rent Prepayment
F. JOURNAL
Date Description Debit Credit
February 7, 2023 Utilities Expense $ 150
Cash $ 150
Payment of Utility Bill
G. JOURNAL
Date Description Debit Credit
February 7, 2023 Cash $ 15,000
Common Stock $ 15,000
New Investor Investment
As you finish out the month you are preparing to close our your first month with Jones Surf Shop. You tak
unadjusted trial balance and prepare to make adjusting entries.
Jones Surf Shop
Unadjusted Trial Balance
February 28, 2023
Account Debit Credit
Cash $ 51,100
Accounts Receivable $ 1,890
Office Furniture $ 2,500
Supplies $ 250
Prepaid Rent $ 3,000
Accounts Payable $ 3,250
Interest Payable $ -
Salaries Payable $ -
Common Stock $ 50,000
Service Revenue $ 8,790
Advertising Expense $ 250
Interest Expense $ -
Rent Expense $ -
Utilities Expense $ 550
Salaries Expense $ 2,500
Supplies Expense $ -
Total $ 62,040 $ 62,040
You will need to make the following adjusting entries to complete the accounting period
going to familiarize yourself with the types of transactions and reports that Jones Surf Shop is going to n
of their business.
The following are all transactions that occurred during your first week of work. Journalize each of the foll
transactions. Be sure to follow proper journal writing rules
A. On February 3, 2023, Office furniture is purchased. The furniture cost $2,500 and the payment will be due for
B. On February 4, 2023, An advertisement was run in the newspaper at a total cost of $250. Cash was paid when
C. On February 4, 2023, Jeremy performed a private surf class for a client. The client was billed $535.
D. On February 6, 2023, Office supplies worth $250 are purchased with cash
E. On February 7, 2023, A new rental contract for the shop is signed and six month of rent at $500 a month is pr
F. On February 7, 2023, A utility bill for $150 is paid with cash
G. On February 7, 2023, Jeremy brought in another investor for the shop. This investor contributed $15,000 in ca
A. JOURNAL
Date Description Debit Credit
February 3, 2023 Office Furniture $ 2,500
Accounts Payable $ 2,500
Purchased Office Furniture
B. JOURNAL
Date Description Debit Credit
February 4, 2023 Advertising Expense $ 250
Cash $ 250
Newspaper Advertisement
C. JOURNAL
Date Description Debit Credit
February 4, 2023 Accounts Receivable $ 535
Service Revenue $ 535
Private Surf Class service
D. JOURNAL
Date Description Debit Credit
February 6, 2023 Office Supplies $ 250
Cash $ 250
Purchase Office Supplies
E. JOURNAL
, Date Description Debit Credit
February 7, 2023 Prepaid Rent $ 500
Cash $ 500
Rent Prepayment
F. JOURNAL
Date Description Debit Credit
February 7, 2023 Utilities Expense $ 150
Cash $ 150
Payment of Utility Bill
G. JOURNAL
Date Description Debit Credit
February 7, 2023 Cash $ 15,000
Common Stock $ 15,000
New Investor Investment
As you finish out the month you are preparing to close our your first month with Jones Surf Shop. You tak
unadjusted trial balance and prepare to make adjusting entries.
Jones Surf Shop
Unadjusted Trial Balance
February 28, 2023
Account Debit Credit
Cash $ 51,100
Accounts Receivable $ 1,890
Office Furniture $ 2,500
Supplies $ 250
Prepaid Rent $ 3,000
Accounts Payable $ 3,250
Interest Payable $ -
Salaries Payable $ -
Common Stock $ 50,000
Service Revenue $ 8,790
Advertising Expense $ 250
Interest Expense $ -
Rent Expense $ -
Utilities Expense $ 550
Salaries Expense $ 2,500
Supplies Expense $ -
Total $ 62,040 $ 62,040
You will need to make the following adjusting entries to complete the accounting period
