• June 1: Owner contributed $50,000 in cash to the business.

Question

• June 1: Owner purchased a company vehicle in the amount of $15,000.
• June 3: Owner took out a small business loan in the amount of $25,000.
• June 5: Owner paid rent for June, and prepaid office rent for a 6-month period to cover July through December at $1,195 per month.
• June 5: Owner paid business license fees in the amount of $250 to the county.
• June 5: Owner ordered office supplies, on account, in the amount of $750.00.
• June 6: Owner performed service for client on account in the amount of $1,000.
• June 9: Owner provided service for client in the amount of $1,500. Customer paid $750 at time of service. Client will be billed for the balance due.
• June 10: Owner paid $250 in advertising costs to the local paper.
• June 15: Owner recorded wages due to the part-time employee in the amount of $325. This will be paid on June 20.
• June 15: Owner prepaid business insurance to cover July through December at the rate of $125 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 $210.
• June 22: Owner withdrew $1,000 cash for personal use.
• June 23: Customer paid balance due from June 6 service in the amount of $1,000.
• June 25: Owner provided service to client in the amount of $800. 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 $2,225.00.
• June 30: Owner received telephone bill for month of June in the amount of $155 and recorded the expense. This bill will not be paid until July.
• June 30: Last day of pay period; owner owes part-time worker $325 for the June 16 through June 30 pay period. This will be paid on July 5.
• June 30: Record depreciation on vehicle at $250.
journalize these

Answer 1

Here are the journal entries for the given transactions, organized by date:

June 1

1. Owner contributed cash to the business.

   Debit: Cash                                   $50,000
   Credit: Owner's Equity (Capital)             $50,000

2. Owner purchased a vehicle.

   Debit: Vehicle                                $15,000
   Credit: Cash                                   $15,000

June 3

3. Owner took out a small business loan.

   Debit: Cash                                   $25,000
   Credit: Notes Payable                         $25,000

June 5

4. Owner paid rent for June and prepaid office rent.

   Debit: Rent Expense                           $1,195
   Debit: Prepaid Rent                          $7,170  (1,195 * 6)
   Credit: Cash                                 $8,365

5. Owner paid business license fees.

   Debit: Business License Expense                $250
   Credit: Cash                                   $250

6. Owner ordered office supplies on account.

   Debit: Office Supplies                         $750
   Credit: Accounts Payable                       $750

June 6

7. Owner performed service for a client on account.

   Debit: Accounts Receivable                   $1,000
   Credit: Service Revenue                       $1,000

June 9

8. Owner provided service for client (partial payment).

   Debit: Cash                                   $750
   Debit: Accounts Receivable                   $750
   Credit: Service Revenue                       $1,500

June 10

9. Owner paid advertising costs.

   Debit: Advertising Expense                     $250
   Credit: Cash                                   $250

June 15

10. Wages due to part-time employee.

   Debit: Wages Expense                          $325
   Credit: Wages Payable                         $325

11. Owner prepaid business insurance.

   Debit: Prepaid Insurance                      $750  (125 * 6)
   Credit: Cash                                   $750

June 20

12. Owner paid wages due to part-time employee.

   Debit: Wages Payable                         $325
   Credit: Cash                                   $325

June 21

13. Owner paid for plumbing repairs in the office.

   Debit: Repairs and Maintenance Expense        $210
   Credit: Cash                                   $210

June 22

14. Owner withdrew cash for personal use.

   Debit: Owner's Draw                          $1,000
   Credit: Cash                                   $1,000

June 23

15. Customer paid balance due from June 6 service.

   Debit: Cash                                   $1,000
   Credit: Accounts Receivable                   $1,000

June 25

16. Owner provided service to a client (paid at time of service).

   Debit: Cash                                   $800
   Credit: Service Revenue                       $800

June 28

17. Owner paid balance due for office supplies.

   Debit: Accounts Payable                       $750
   Credit: Cash                                   $750

June 29

18. Owner performed service for client on account.

   Debit: Accounts Receivable                   $2,225
   Credit: Service Revenue                       $2,225

June 30

19. Owner received telephone bill.

   Debit: Utilities Expense                       $155
   Credit: Accounts Payable                       $155

20. Wages owed to part-time worker.

   Debit: Wages Expense                          $325
   Credit: Wages Payable                         $325

21. Record depreciation on vehicle.

   Debit: Depreciation Expense                   $250
   Credit: Accumulated Depreciation               $250

These entries reflect the transactions accurately in a typical accounting system for June. Make sure to double-check the account numbers and titles to comply with your accounting framework or preferences.