Journal entry bootcamp

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Created by
Ananya Totiger

Cards (31)

  • borrowed $5000 from the bank signed note payable 

    Dr: Cash $5000
    Cr: notes payable $5000
  • purchased landscaping equipment for cash $10,000
    DR : PPE 10,000
    Cr: cash 10,000
  • paid $100 to repair a broken shell on a lawn mower
    Cr: $100 cash
    Dr: $100 repair expense
  • provided landscaping service for a customer, the customer paid cash of $75 for the services
    Dr: cash $75
    Cr: revenue $75
  • purchased and used fuel in the lawn mowers it costs $150 cash
    Cr Cash $150
    Dr fuel expense $150
  • provided landscaping service for 3 customers $100 each, 2 paid one will pay next week
    Dr cash: $200
    Cr revenue : 300
    Dr receivables: 100
  • received but did not pay the telephone bill $50
    the bill is due in 30 days
    Dr telephone expense $50
    Cr accounts payable $50
  • purchased a new piece of landscaping equipment - a line trimmer for $500 on account 

    Dr : PPE $500
    Cr : accounts payable $500
  • did social media advertising paid $200

    Dr advertising expense $200
    Cr cash $200
  • completed a sod installation job.
    Billed $2000 payment is due in 30 days
    Dr accounts receivable : 2000
    Cr revenue : 2000
  • collected the amount owing from the august 6 transaction : one customer owes $100
    Dr Cash $100
    Cr accounts receivable $100
  • Completed a major landscaping job
    billed $4,500
    collected half
    Dr Cash: 2,250
    Dr Accounts receivable : 2,250
    Cr revenue : 4,500
  • received and paid the electricity bill
    $400
    Dr electric expense : $400
    Cr cash : $400
  • purchased a new trailer for $1,200 cash
    Dr PPE: 1,200
    Cr cash: 1,200
  • paid wages to employees $2000
    Dr wage expense 2000
    Cr cash expense 2000
  • had a lawnmower repaired $600
    due in 30 days 

    Dr repair expense 600
    Cr accounts payable 600
  • paid the phone bill from august 7
    $50
    Cr cash $50
    Dr accounts payable $50
  • collected the other half of the amount owing from august 12:
    22,50

    Dr cash 2250
    Cr accounts recievable 2250
  • Judy smith invested 25,000 into the company in exchange for common shares 

    Dr 25000 cash
    cr 25000 borrowings / common shares
  • rented tools for a special job paid $350 cash
    Dr rental expenses 350
    Cr cash 350
  • Completed and billed for the special job client paid $1800
    Dr cash 1800
    Cr revenue 1800
  • an upset client threatened to sue our company paid legal fees of $400 to consult with a lawyer
    the client eventually changed their mind about suing
    Dr Legal fees expenses 400
    Cr cash 400
  • took a local business development training course through the local college paid $180
    Dr trainings expense 180
    Cr cash 180
  • purchase a used leaf blower on account
    $275 bill is due next month 

    Dr PPE 275
    Cr accounts payable 275
  • completed a lawn mowing work at 8 houses
    billed $50 per house
    received payment from 3 of the 8 clients 

    Dr cash 150
    Dr accounts receivable 250
    Cr 400 revenue
  • received a bill for business license fees 240
    the bill has not yet been paid
    Dr
    license fees expense 240
    Cr accounts payable 240
  • collected full payment from august 10 job 2000
    Dr cash 2000
    Cr accounts receivables 2000
  • paid the lawnmower bill 600
    Cr cash 600
    Dr accounts payable 600
  • paid wages to employees of 2000
    Dr wage expense 2000
    Cr cash 2000
  • paid interest of 250 on the note
    Dr interest expense 250
    Cr cash 250
  • declared and paid a cash dividend too the shareholders 1000
    Dr dividends 1000
    Cr cash 1000