(Solved): ACC 201 Accounting Data Appendix The following events occurred in June: June 1: Owner contributed $5 ...

ACC 201 Accounting Data Appendix The following events occurred in June: June 1: Owner contributed

in cash to the business. June 1: Owner purchased a company vehicle in the amount of

. June 3: Owner took out a small business loan in the amount of

. June 5: Owner paid rent for June, and prepaid office rent for a 6-month period to cover July through December at

per month. June 5: Owner paid business license fees in the amount of

to the county. June 5: Owner ordered office supplies, on account, in the amount of

. June 6: Owner performed service for client on account in the amount of

. June 9: Owner provided service for client in the amount of

. Customer paid

at time of service. Client will be billed for the balance due. June 10: Owner paid

in advertising costs to the local paper. June 15: Owner recorded wages due to the part-time employee in the amount of

. This will be paid on June 20 . June 15: Owner prepaid business insurance to cover July through December at the rate of

per month. June 20: Owner paid wages due to part-time employee from period ending June 15 . June 21: Owner paid for plumbing repairs in the office in the amount of

. June 22: Owner withdrew

cash for personal use. June 23: Customer paid balance due from June 6 service in the amount of

. June 25: Owner provided service to client in the amount of

. Client paid at time of service. June 28: Owner paid balance due for office supplies purchase on June 5. June 29: Owner performed service for client on account in the amount of

. June 30: Owner received telephone bill for month of June in the amount of

and recorded the expense. This bill will not be paid until July. June 30: Last day of pay period; owner owes part-time worker

for the June 16 through June 30 pay period. This will be paid on July 5 . June 30: Record depreciation on vehicle at

. \table[[,A Company,,],[,Closing Entries,,],[,Month ending 06/30/20XX,,],[Date,Accounts,Dehit,Credit],[30-Jun],[,,,],[,Close revenues,,],[30-Jun],[],[,,,],[,,,],[,,,],[,,,],[,,,],[,,,],[,Close Expenses,,],[,,,],[30 -Jun],[,,,],[,Close Income Summary,,],[30-Jun],[,,,],[,Close Owners Draw,,],[,,,],[,,,],[,,0,0]] \table[[Total Assets:,0]] Total Liabilities & Equity

Total Assets on the left should equal Liabilitie Equity Owner Draws Posting to the ledger/t accounts Don't overthink it! You are just posting each debit and credit from the journal entries to the account yo These accounts are set to calculate your balances for you. Please be careful not to delete the running totals as those will calculate the ending

The ending balance will transfer to the Trial Balance sheet. If you have posted all entries and your trial balance is not in balance (total debits

this means that there is an error. Journal Entry Tips The debited account is recorded first, credited account recorded second. Debits and credits must always equal! There can be compound entries in which two accounts receive a debt to an equivale Be sure to use your chart of accounts (the first page of this workbook). Each account you will record to is already listed and organized by classification of

Revi Left Debit Drawing

Left Right Credit If Red, this means your debits and credits do not equal. Be sure to review for errors.