ccount redit entry ash ac o Common stock ac 35000 5000 repai

ccount redit entry ash a/c o Common stock a/c 35000 5000 repaid rent A/c o cash A/c 400 Prepaid Insurance A/c 700 o cash A/ 700 omputer Equipment A/c o Notes Payable Office Mart A/c 600 ash A/c 10000 To Notes Payable- Well Fargo A/c 10000 elivery Van A/c o Cash A/c 6000 16000 elivery Van A/c o Cash A/c aid Advertising A/c o Cash A/c nventory Cookies A/c o Accounts Payable A/c 200 - Baskets A/c o Accounts Payable A/c 900 al Fees A/c To Cash a/c o Entry upplies (Cellophane, ribbon& sticks) To Accounts Payable A/c

Solution

CASH ACCOUNT

Debit

Credit

2

To Common Stock

35000

3

By Prepaid Rent

2400

6

To Notes Payable - Well fargo A/c

10000

7

By Delivery Van

16000

18

To Sales

6000

4

By Prepaid Insurance

2700

21

To Accounts receivable

4000

8

Delivery Van

600

24

To Sales

7560

9

By Prepaid Advertising

500

26

To Sales

2484

12

By Legal fee A/c

800

15

By Shipping supplies A/c

400

19

By Accounts payable

300

22

By Credit card expenses

350

23

By Accounts payable

2842

25

By Accounts payable

11466

28

By Notes Payable Office Mart

300

28

By Interest expenses

36

29

By Sales tax payable

1224

31

By Dividend paid

100

COMMON STOCK ACCOUNT

Debit

Credit

2

By Cash

35000

PREPAID RENT ACCOUNT

Debit

Credit

3

To Cash

2400

                PREPAID INSURANCE

Debit

Credit

4

To Cash

2700

COMPUTER EQUIPMENT ACCOUNT

Debit

Credit

5

To Notes payable-Office Mart A/c

3600

NOTES PAYABLE OFFICE MART A/C

Debit

Credit

28

To cash

300

5

By Computer Equipment A/c

3600

NOTES PAYABLE - WELL FARGO A/c

Debit

Credit

6

By Cash

10000

DELIVERY VAN ACCOUNT

Debit

Credit

7

To Cash

16000

8

To Cash

600

PREPAID ADVERTISING

Debit

Credit

9

To Cash

500

INVENTORY COOKIES A/C

Debit

Credit

10

To Accounts payable

6200

16

By Cost of Goods Sold

1700

17

To Accounts payable

5500

18

By Cost of Goods Sold

3900

29

To Accounts payable

3400

20

By Advertising and Promotion Expense

600

24

By Cost of Goods Sold

3500

26

By Cost of Goods Sold

1680

ACCOUNTS PAYABLE ACCOUNT

Debit

Credit

19

To Cash

300

10

By Inventories Cookies A/c

6200

23

To Cash

2842

11

By Inventory Baskets A/c

2900

23

To Discount

58

14

Supplies (Cellphone,Ribbon&sticks)

300

25

To Cash

11466

17

By Inventories Cookies A/c

5500

25

To Discount received

234

27

By Utility Expenses

120

29

By Inventories Cookies A/c

3400

INVENTORY BASKETS ACCOUNT

Debit

Credit

11

To Accounts payable

2900

16

By Basket Expense

500

18

By Basket Expense

300

20

By Advertising and Promotion Expense

100

24

By Basket expense

1000

26

By Basket expense

220

                LEGAL FEE ACCOUNT

Debit

Credit

12

To Cash

800

SUPPLIES (Cellphone,Ribbon&Sticks)

Debit

Credit

14

To Accounts Payable A/c

300

16

Supplies Expenses

50

SHIPPING SUPPLIES ACCOUNT

Debit

Credit

15

To Cash

400

ACCOUNTS RECEIVABLE ACCOUNT

Debit

Credit

16

To Sales

4000

21

By Cash

400

SALES ACCOUNT

Debit

Credit

16

By Accounts Recievable

4000

18

By Cash

6000

24

By Cash

7000

26

By Cash

2300

COST OF GOODS SOLD ACCOUNT

Debit

Credit

16

To Inventory Cookies

1700

18

To Inventory Cookies

3900

24

To Inventory Cookies

3500

26

To Inventory Cookies

1680

BASKET EXPENSES ACCOUNT

Debit

Credit

16

To Inventory Bakets A/c

500

18

To Inventory Bakets A/c

300

24

To Inventory Bakets A/c

1000

26

To Inventory Bakets A/c

220

SUPPLIES EXPENSES ACCOUNT

Debit

Credit

16

To Supplies (Cellphone,Ribbon & Sticks A/c)

50

SALES TAX PAYABLE ACCOUNT

Debit

Credit

18

By Cash

480

24

By Cash

560

29

To Cash

1224

26

By Cash

184

ADVERTISING AND PROMOTION ACCOUNT

Debit

Credit

20

To Inventory -Cookies A/c

600

20

To Inventory -Baskets A/c

100

CREDIT CARD EXPENSES ACCOUNT

Debit

Credit

22

To Cash

350

DISCOUNT RECEIVED ACCOUNT

Debit

Credit

23

By Accounts payable A/c

58

UTILITY EXPENSES ACCOUNT

Debit

Credit

27

To Accounts payable

120

INTEREST EXPENSES ACCOUNT

Debit

Credit

28

To Cash

36

RETAINED EARNINGSCACCOUNT

Debit

Credit

31

To Dividend paid A/c

100

DIVIDEND PAID ACCOUNT

Debit

Credit

31

To Cash

100

31

By Retained Earnings

100

		Debit			Credit
2	To Common Stock	35000	3	By Prepaid Rent	2400
6	To Notes Payable - Well fargo A/c	10000	7	By Delivery Van	16000
18	To Sales	6000	4	By Prepaid Insurance	2700
21	To Accounts receivable	4000	8	Delivery Van	600
24	To Sales	7560	9	By Prepaid Advertising	500
26	To Sales	2484	12	By Legal fee A/c	800
			15	By Shipping supplies A/c	400
			19	By Accounts payable	300
			22	By Credit card expenses	350
			23	By Accounts payable	2842
			25	By Accounts payable	11466
			28	By Notes Payable Office Mart	300
			28	By Interest expenses	36
			29	By Sales tax payable	1224
			31	By Dividend paid	100