College Accounting, Chapters 1-27

23rd Edition
HEINTZ + 1 other
ISBN: 9781337794756



College Accounting, Chapters 1-27

23rd Edition
HEINTZ + 1 other
ISBN: 9781337794756
Textbook Problem

GENERAL JOURNAL ENTRIES Diane Bernick has opened Bernick’s Consulting. Journalize the following transactions that occurred during January of the current year. Use the following journal pages: January 1–10, page 1; and January 11–29, page 2. Use the following chart of accounts:


Jan. 1 Bernick invested cash in the business, $12,000.

2 Paid office rent, $750.

3 Purchased office equipment on account, $1,300.

5 Received cash for services rendered, $950.

8 Paid phone bill, $85.

10 Paid for a magazine subscription (miscellaneous expense), $20.

11 Purchased office supplies on account, $250.

15 Made a payment on account (see Jan. 3 transaction), $200.

18 Paid part-time employee, $600.

21 Received cash for services rendered, $800.

25 Paid utilities bill, $105.

27 Bernick withdrew cash for personal use, $400.

29 Paid part-time employee, $600.

To determine

Prepare journal entry to record the given transactions.


Prepare journal entry to record the given transactions.

DateAccounts title and explanation







January 1Cash10112,000 
      Person D’s capital 311 12,000
 (To record owner’s original investment)   
January 2Rent expense521750 
      Cash101 750
 (To record the payment of  office rent for January)   
January 3Office Equipment1811,300 
      Accounts Payable202 1,300
 (To record the purchase of office equipment on account)   
January 5Cash 101950 
      Consulting fees 401 950
 (To record the cash received for the consulting service)    
January 8Phone expense52585 
      Cash101 85
 (To  record payment of  phone bill)   
January 10Miscellaneous expense54920 
      Cash 101 20
 (To record purchase of magazine  subscription)   

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