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    Judi Dench, Inc. - Journal Entries

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    Name: Date:
    Instructor: Course:
    Financial Accounting, 5th Edition, by Weygandt, Kieso, and Kimmel
    Solving Financial Accounting Problems Using Microsoft Excel for Windows by Rex A Schildhouse
    Problem P2-2A, Judi Dench is a licensed architect. During the first month of the operation of her company, Judi Dench, Inc. the following events and transactions occurred.

    Apr 1 Stockholders invested cash in the business in exchange for common stock. $25,000
    Apr 1 Hired a secretary-receptionist at a salary of $300 per week payable monthly.
    Apr 2 Paid office rent for the month $800
    Apr 3 Purchased architectural supplies on account from Halo Company $1,500
    Apr 10 Completed blueprints on a carport and billed the client for services $900
    Apr 11 Received cash advance from R. Welk for the design of a new home. $500
    Apr 20 Received cash for services completed and delivered to P. Donahue. $1,500
    Apr 30 Paid secretary-receptionist for the month $1,500
    Apr 30 Paid Halo Company for accounts payable due $600

    Judi uses the following chart of accounts:
    101 Cash 311 Common Stock
    112 Accounts Receivable 400 Service Revenue
    126 Supplies 726 Salary Expense
    201 Accounts Payable 729 Rent Expense
    205 Unearned Revenue

    Instructions:
    (a) Journalize the transactions.

    Date Accounts / Text/Memorandum Ref Debit Credit
    Date Account Ref Amount
    Account Ref Amount
    Text / Memorandum

    Date Account Ref Amount
    Account Ref Amount
    Text / Memorandum

    Date Account Ref Amount
    Account Ref Amount
    Text / Memorandum

    Date Account Ref Amount
    Account Ref Amount
    Text / Memorandum

    Date Account Ref Amount
    Account Ref Amount
    Text / Memorandum

    Date Account Ref Amount
    Account Ref Amount
    Text / Memorandum

    Date Account Ref Amount
    Account Ref Amount
    Text / Memorandum

    Date Account Ref Amount
    Account Ref Amount
    Text / Memorandum

    Date Account Ref Amount
    Account Ref Amount
    Text / Memorandum

    (b) Post to the ledger accounts. (Use J1 as the journal page number.)

    Account: Cash Acct Nbr: 101
    Date: Explanation Ref Debit Credit Balance

    Account: Accounts Receivable Acct Nbr: 112
    Date: Explanation Ref Debit Credit Balance

    Account: Supplies Acct Nbr: 126
    Date: Explanation Ref Debit Credit Balance

    Account: Accounts Payable Acct Nbr: 201
    Date: Explanation Ref Debit Credit Balance

    Account: Unearned Revenue Acct Nbr: 205
    Date: Explanation Ref Debit Credit Balance

    Account: Common Stock Acct Nbr: 311
    Date: Explanation Ref Debit Credit Balance

    Account: Service Revenue Acct Nbr: 400
    Date: Explanation Ref Debit Credit Balance

    Account: Salary Expense Acct Nbr: 726
    Date: Explanation Ref Debit Credit Balance

    Account: Rent Expense Acct Nbr: 729
    Date: Explanation Ref Debit Credit Balance

    (c) Prepare a trial balance on April 30, 2006.

    JUDI DENCH, INC.
    Trial Balance
    April 30, 2006
    Debit Credit
    Account
    Account
    Account
    Account
    Account
    Account
    Account
    Account
    Account
    Formula Formula

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    https://brainmass.com/business/the-accounting-cycle/judi-dench-inc-journal-entries-116506

    Attachments

    Solution Preview

    Name: Date:
    Instructor: Course:
    Financial Accounting, 5th Edition, by Weygandt, Kieso, and Kimmel
    Solving Financial Accounting Problems Using Microsoft Excel for Windows by Rex A Schildhouse
    Problem P2-2A, Judi Dench is a licensed architect. During the first month of the operation of her company, Judi Dench, Inc. the following events and transactions occurred.

    Apr 1 Stockholders invested cash in the business in exchange for common stock. $25,000
    Apr 1 Hired a secretary-receptionist at a salary of $300 per week payable monthly.
    Apr 2 Paid office rent for the month $800
    Apr 3 Purchased architectural supplies on account from Halo Company $1,500
    Apr 10 Completed blueprints on a carport and billed the client for services $900
    Apr 11 Received cash advance from R. Welk for the design of a new home. $500
    Apr 20 Received cash for services completed and delivered to P. Donahue. $1,500
    Apr 30 Paid secretary-receptionist for the month $1,500
    Apr 30 Paid Halo Company for accounts payable due $600

    Judi uses the following chart of accounts:
    101 Cash 311 Common Stock
    112 Accounts ...

    Solution Summary

    This solution is comprised of a journal entries for the transactions of Judi Dench, Inc.

    $2.19