High Flying Biplane June, 2016 Journal Entries, Ledger Accounts, and Trial Balance

High Flying Biplane June, 2016 Journal Entries, Ledger Accounts, and Trial Balance
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High Flying Biplane June, 2016 Journal Entries, Ledger Accounts, and Trial Balance
High Flying Biplane Journal Entries for the Month Ended 30 June, 2016
Month

Date

Particulars

Ledger

Debit ($)

Credit ($)

June

1

Cash Account
Capital Account
(Being cash invested into the business)

101
300

5,000

5,000

June

2

Cash Account
Unearned Revenue Account
(Being cash for tours that will be provided in August)

101
210

1,500

1,500

June

3

Advertising
Cash
(Being cash for advertising bill that will be paid next month)

500
101

400

400

June

4

Telephone
Cash
(Being cash paid for telephone bill)

550
101

200

200

June

10

Accounts receivable
Service revenue
(Being for tours provided to customer who will pay next month)

105
400

2,400

2,400

June

14

Equipment
Cash
(Being cash for equipment purchased)

120
101

4,000

4,000

June

20

Cash
Accounts receivable
(Being cash received from customers paying their accounts)

101
105

1,600

1,600

June

22

Accounts payable
Cash
(Being cash paid towards accounts payable)

200
101

900

900

June

24

Bank loan
Cash
(Being cash paid towards a bank loan principal)

215
101

1,000

1,000

June

30

Drawings
Cash
(Being cash drawings for personal use)

310
101

1,200

1,200

High Flying Biplane Ledger Accounts for the Month Ended 30 June, 2016
Cash Account
Debit

Credit

Date

Folio

Particulars

Amount ($)

Date

Folio

Particulars

Amount ($)

June 1

300

Balance b/d
Capital

8,000
5,000

June 3
June 4

500
550

Advertising
Telephone

400
200

June 2

210

Unearned Revenue

1,500

June 14

120

Equipment

4,000

June 20

105

Accounts receivable

1,600

June 22

200

Accounts payable

900





June 24

215

Bank loan

1,000





June 30

310

Drawings

1,200





June 30


Balance c/d

8,400

June 30



16,100

June 30



16,100

Accounts Receivable Account
Debit

Credit

Date

Folio

Particulars

Amount ($)

Date

Folio

Particulars

Amount ($)

June 1


Balance b/d

6,000

June 20

101

Cash

1,600

June 10

400

Service revenue

2,400









June 30


Balance c/d

6,800

June 30



8,400

June 30



8,400

Prepaid Insurance Account
Debit

Credit

Date

Folio

Particulars

Amount ($)

Date

Folio

Particulars

Amount ($)

June 1


Balance b/d

1,200









June 30


Balance c/d

1,200

June 30



1,200

June 30



1,200

Equipment Account
Debit

Credit

Date
...