Paper Topic:

Accounting Project

"Sky 's-The-Limit Consulting "Journal Entries "P /R "Dr "Cr "Oct . 1 "Cash "11 "12950 "Account receivable "Receivable "12 "2800 "Supplies "14 "1500 "Office Equipment "18 "18750 "Dawn Lytle , Capital "31 "36000 "To record investment "Prepaid Rent "15 "3600 "Cash "11 "3600 "To record 3-mo . advance rent "2 "Prepaid Insurance "16 "2400 "Cash "11 "2400 "To record insurance premiums "4 "Cash "11 "4150 "Unearned Fees "23 "4150 "To record advance payment from services "5 "Office Equipment "18 "2500 "Accounts Payable "21 "2500 "To record purchase of equioment on account "pment on account "from Office Station Co "6 "Cash "11 "1900 "Accounts

Receivable "12 "1900 "To record payments from clients on account "10 "Miscellaneous Expense "56 "325 "Cash "11 "325 "To record payment of advertisement "12 "Accounts Payable "21 "1250 "Cash "11 "1250 "To record partial payament "payment of equipment purchased "from Office Station Co "Accounts Receivable "12 "3750 "Cash "11 "3750 "To record payments from clients on account "services on account "14 "Salary Expense "51 "750 "Cash "11 "750 "To record two-week salary of receptionist "17 "Cash "11 "6250 "Fees Earned "41 "6250 "To record income from cash clients "18 "Supplies "14 "600 "Cash "11 "600 "To record purchase of supplies "20 "Accounts Receivable "12 "2100 "Fees Earned "41 "2100 "To record income from Oct .13-20 "24 "Cash "11 "3850 "Fees Earned "41 "3850 "To record fees earned from Oct . 17-24 "26 "Cash "11 "4450 "Accounts Receivable "12 "4450 "To record collection "27 "Salary Expense "51 "750 "Cash "11 "750 "To record receptionist 's salary "29 "Miscellaneous Expense "56 "250 "Cash "11 "250 "To record payment of telephone bills "31 "Miscellaneous Expense "56 "300 "Cash "11 "300 "To record payment of electricity "Cash "11 "2975 "Fees Earned "41 "2975 "To record income from Oct .25-31 "Accounts Receivable "12 "1500 "Fees Earned "41 "1500 "To record income for Oct "Dawn Lytle , Drawing "32 "5000 "Cash "11 "5000 "To record withdrwal for personal use "Adjusting Journal Entries "Oct . 31 "Insurance Expense "55 "200 "Prepaid Insurance "16 "200 "Supplies Expense "53 "1225 "Supplies "14 "1225 "Depreciation Expense "54 "675 "Accu . Depreciation "19 "675 "Salary Expense "51 "150 "Salary Payable "22 "150 "Rent Expense "52 "1550 "Prepaid Rent "15 "1550 "Cash "11 "1150 "Unearned Fees "1150 "Closing Entries "Oct . 31 "Income Summary "33 "6175 "Salary Expense "51 "1650 "Miscellaneous Expense "56 "875 "Insurance Expense "55 "200 "Supplies Expense "53 "1225 "Depreciation Expense "54 "675 "Rent Expense "52 "1550 "To close expenses to Income Summary "Fees Earned "41 "16675 "Income Summary "33 "16675 "To close income to Income Summary "Dawn Lytle , Capital "31 "5000 "Dawn Lytle , Drawing "32 "5000 "To close drawing to capital "Income Summary "33 "10500 "Dawn Lytle , Capital "31 "10500 "Sky 's-The-Limit Consulting "General Ledger "Cash "Acct . N0 . 11 "Date "Explanation "PR "Dr "Date "Explanation "PR "Cr "Oct . 1 "Investment "J1 "12950 "Oct . 1 "3-mo . Advance rent "J1 "3600 "4 "Advance pymt . For services "J1 "4150 "2 "advance premiums "J1 "2400 "6 "receipts from clients "J1 "1900 "10 "payment of advertising "J1 "325...

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