Answer:
Given below
Explanation:
Tamarisk, Inc.
Genral Journal
<u>No. Account Titles and Explanation Debit Credit</u>
1. Cash $21,600 Dr
Common Stock $21,600 Cr
Issued common stock for $21,600 cash. Cash is received and stock is issued.
2. Cash $6,300 Dr
Note payable $6,300 Cr
Obtained a bank loan for $6,300 by issuing a note payable. Cash is received and the liability is also increased.
3. Equipment $9,900 Dr
Cash $9,900 Cr
Equipment is bought by paying cash.
4. Office rent $1,100 Dr
Cash $1,100 Cr
Office rent is paid through cash.
5. Supplies $1,300 Dr
Cash $1,300 Cr
Supplies are bought for $1,300 cash.
6. Advertising Expense $540 Dr
Accounts Payable Daily Herald $540 Cr
Advertising is purchased on accounts of Daily Herald for $540
7. Cash $1,800 Dr
Accounts Receivable $14,400 Dr
Revenue $16,200 Cr
Performed services for $16,200, cash of $1,800 is received from customers, and the balance of $14,400 is billed to customers on account.
8. Dividends $360 Dr
Cash $360 Cr
Paid $360 dividend to stockholders.
9. Utilities $1,800 Dr
Cash $1,800 Cr
Utility bill is paid for the month, $1,800.
10. Accounts Payable Daily Herald $540 Dr
Cash $540 Cr
Advertising bought on accounts is paid in cash $ 540.
11. Interest Expense $40 Dr
Cash $40 Cr
Paid $40 of interest on the bank for the loan of $6,300 obtained from the bank.
12. Salaries $5,760 Dr
Cash $5,760 Cr
Salaries for $5,760 are paid in cash.
13. Cash $14,400 Dr
Accounts Receivable $14,400 Cr
Cash is received for the balance of $14,400 billed to customers on account for services performed.
14. Tax Expense $1,350 Dr
Cash $1,350 Cr
Cash $1,350 is paid as Tax.
