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Friday, June 26, 2009

journal


(A) Discuss accounting cycle?
(B) Michelle divine opened a law office Divine attorney at law. On may 1 2004. On May 31st the balance sheet cash tk 10000 account receivable tk 2500, supplies tk 1000. Office equipment tk 6000 aaccounts payable tk 4500 and michelle divine capital 15000.
June 2 collected tk 1200 of accounts receivable
 4 paid tk 3000 cash on accounts payable
 7 purchase office furniture of tk 4000 and paying tk 2500 in cash
 9 earned revenue of tk 10000 of which tk 7500 is due in july
 12 divine leering additional capital in cash tk 5000 and personal computer tk 10000
 15 accrued salaries tk 2000, rent 2500 and advertising 1200
 22 withdrew tk 1400 for personal used
 25 received tk 20000 from one bank money borrowed on a notes payable
 30 cash paid for salaries 2000 rent 2500 and advertising 1200
Instruction:
I. prepare ledger for each account
II. Trail balance made end the month 

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