General Journal

Date Details/Particulars Account Number

1-May Bank Account 110

1-May Capital 300
1-May Owner put in $50,000 to start up renovation business
1-May Expenses 610
1-May Bank Account 110
1-May Paid rent
4-May Renovation Supplies 130
4-May HST Paid 280
4-May Accounts Payable (Mitchells) 210
4-May Purchased renovations supplies from Mitchells suppliers
4-May Equipment 150
4-May HST Paid 280
4-May Bank Account 110
4-May Purchased computer equipment
5-May Petty Cash 115
5-May Bank Account 110
5-May Established a petty cash float
6-May Office Supplies 140
6-May HST Paid 280
6-May Accounts Payable (Supplies R Us) 210
6-May Purchased office supplies
8-May Expenses 610
8-May HST Paid 280
8-May Bank Account 110
8-May Paid insurance fee
11-May Accounts Receivable 120
11-May Revenue 410
11-May HST Recieved 290
11-May Billed for renovation work
12-May Bank Account 110
12-May Revenue 410
12-May HST Recieved 290
12-May Received cash for renovation
15-May Wages Expense 620
15-May Bank Account 110
15-May Paid employees wages
19-May Bank Account 110
19-May Revenue 410
19-May HST Recieved 290
19-May Received cash for renovation supplies
19-May Bank Account 110
19-May Accounts Receivable 120
19-May Received cash for May 11th billed renovation work
22-May Expenses 610
22-May HST Paid 280
22-May Accounts Payable 210
22-May Received bill from Bell Canada for cell phone and internet
25-May Accounts Receivable 120
25-May Revenue 410
25-May HST Recieved 290
25-May Billed for renovation work
25-May Bank Account 110
25-May Loans Payable 230
25-May Received a bank loan
26-May Accounts Payable 210
26-May Bank Account 110
26-May Paid Supplies Are Us credit
29-May Wages Expense 620
29-May Bank Account 110
29-May Paid employees wages
29-May Bank Account 110
29-May Accounts Receivable 120
29-May Received partial payment from S. Smitherson
29-May Expenses 610
29-May Petty Cash 115
29-May Reimbursed D. Douglas expense report
29-May Draws 310
Accounts Payable 210
Paid Durham College tuition
 Debit Credit CHART OF ACCOUNTS
$ 50,000.00
$ 50,000.00 COA
Assets
$ 2,500.00 110 Bank Account
$ 2,500.00 115 Petty Cash
120 Accounts Receivable (A/R)
$ 1,500.00 130 Renovation Supplies (Inventory)
$ 195.00 140 Office Supplies
$ 1,695.00 150 Equipment
160 Buildings
$ 2,700.00 Liabilities
$ 351.00 210 Accounts Payable (A/P)
$ 3,051.00 220 Notes Payable
230 Loans Payable
$ 300.00 280 HST Paid
$ 300.00 290 HST Received
Capital
$ 800.00 300 Capital
$ 104.00 310 Draws
$ 904.00 320 Dividends
Revenue
$ 600.00 410 Revenue
$ 78.00 Expenses
$ 678.00 610 Expenses
620 Wages Expense
$ 7,232.00
$ 6,400.00
$ 832.00

$ 3,616.00
$ 3,200.00
$ 416.00

$ 10,250.00
$ 10,250.00

$ 508.50
$ 450.00
 $ 58.50

$ 7,232.00
$ 7,232.00
CHART OF ACCOUNTS
$ 295.00
$ 38.35 COA
$ 333.35 Assets
110 Bank Account
$ 2,028.35 115 Petty Cash
$ 1,795.00 120 Accounts Receivable (A/R)
$ 233.35 130 Renovation Supplies (Inventory)
140 Office Supplies
$ 20,000.00 150 Equipment
$ 20,000.00 160 Buildings
Liabilities
$ 904.00 210 Accounts Payable (A/P)
$ 904.00 220 Notes Payable
230 Loans Payable
$ 10,250.00 290 HST Received
$ 10,250.00 Capital
300 Capital
$ 200.00 310 Draws
$ 200.00 320 Dividends
Revenue
$ 82.50 410 Revenue
$ 82.50 Expenses
610 Expenses
$ 4,074.00 620 Wages Expense
$ 4,074.00

$ 125,838.70 $ 125,838.70
 T-Accounts
+ - + - + -
110 - Bank Account 115 - Petty Cash 120 - A/R
$ 50,000.00 $ 300.00 $ 7,232.00
$ 2,500.00 $ 82.50 $ 2,028.35
$ 3,051.00 $ 7,232.00
$ 300.00 $ 200.00
$ 678.00
$ 3,616.00
$ 10,250.00
$ 508.50 217.50 1828.35
$ 7,232.00
$ 20,000.00
$ 904.00
$ 10,250.00
$ 200.00
$ 53,623.50

- + - + - +
210 - A/P 220 - Notes Payable 230 - Loans Payable
$ 1,695.00 $ 20,000.00
$ 904.00
$ 333.35
$ 904.00
$ 4,074.00

6102.35 20000.00

- + - + - +
300 - Capital 310 - Draws 320 - Dividends
$ 50,000.00 4074.00

50000.00 4074.00
 - + + - + -
410 - Revenue 610 - Expenses 620 - Wages Expense
$ 6,400.00 $2,500.00 $ 10,250.00
$ 3,200.00 $ 600.00 $ 10,250.00
$ 450.00 $ 295.00

$ 1,795.00 $ 82.50

$ 11,845.00 $3,477.50 $ 20,500.00

 + - + - + - +
130 - Reno Supplies 140 - Office Supplies 150 - Equipment 160 - Buildings
$ 1,500.00 $ 800.00 $ 2,700.00

1500.00 800.00 2700.00

+ - - +
280 - HST Paid 290 - HST Received
$ 195.00 $ 832.00
$ 351.00 $ 416.00
$ 104.00 $ 58.50
$ 78.00 $ 233.35
$ 38.35

766.35 1539.85
 -
160 - Buildings

$ 151,667.05
$ 125,838.70
 General Ledger
110 Bank Account
2020 PR Debit
1-May Owner put in $50,000 to start up renovation business 50,000.00
1-May Paid rent
4-May Purchased computer equipment
5-May Established a petty cash float
8-May Paid insurance fee
12-May Received cash for renovation 3,616.00
15-May Paid employees wages
19-May Received cash for renovation supplies 508.50
19-May Received cash for May 11th billed renovation work 7,232.00
25-May Received a bank loan 20,000.00
26-May Paid Supplies Are Us credit
29-May Paid employees wages
29-May Received partial payment from S. Smitherson 200.00

115 Petty Cash

2020 PR Debit
5-May Established a petty cash float 300.00
29-May Reimbursed D. Douglas expense report

120 Accounts Receivable

2020 PR Debit
11-May Billed for renovation work 7,232.00
19-May Received cash for May 11th billed renovation work
25-May Billed for renovation work 2,028.35
29-May Received partial payment from S. Smitherson

130 Renovation Supplies

2020 PR Debit
4-May Purchased renovations supplies from Mitchells suppliers 1,500.00
 140 Office Supplies
2020 PR Debit
6-May Purchased office supplies 800.00

150 Equipment
2020 PR Debit
4-May Purchased computer equipment 2,700.00

160 Buildings
20## PR Debit

210 Accounts Payable

2020 PR Debit
4-May Purchased renovations supplies from Mitchells suppliers
6-May Purchased office supplies
22-May Received bill from Bell Canada for cell phone and internet
26-May Paid Supplies Are Us credit 904.00
29-May Paid Durham College tuition

220 Notes Payable

20## PR Debit
 230 Loans Payable
2020 PR Debit
25-May Received a bank loan

280 HST Paid

2020 PR Debit
4-May Purchased renovations supplies from Mitchells suppliers 195.00
4-May Purchased computer equipment 351.00
6-May Purchased office supplies 104.00
8-May Paid insurance fee 78.00
22-May Received bill from Bell Canada for cell phone and internet 38.35

290 HST Received

2020 PR Debit
11-May Billed for renovation work
12-May Received cash for renovation
19-May Received cash for renovation supplies
25-May Billed for renovation work

300 Capital
2020 PR Debit
1-May Owner put in $50,000 to start up renovation business

310 Draws
2020 PR Debit
29-May Paid Durham College tuition 4074.00

320 Dividends
20## PR Debit

410 Revenue
2020 PR Debit
11-May Billed for renovation work
12-May Received cash for renovation
19-May Received cash for renovation supplies

25-May Billed for renovation work

610 Expenses
2020 PR Debit
1-May Paid rent 2,500.00
8-May Paid insurance fee 600.00
22-May Received bill from Bell Canada for cell phone and internet 295.00

29-May Reimbursed D. Douglas expense report 82.50

620 Wages Expense

2020 PR Debit
15-May Paid employees wages $ 10,250.00
29-May Paid employees wages $ 10,250.00
Credit Balance
50,000.00
2,500.00 47,500.00
3,051.00 44,449.00
300.00 44,149.00
678.00 43,471.00
47,087.00
10,250.00 36,837.00
37,345.50
44,577.50
64,577.50
904.00 63,673.50
10,250.00 53,423.50
53,623.50

Credit Balance
300.00
82.50 217.50

Credit Balance
7,232.00
7,232.00 -
2,028.35
200.00 1,828.35

Credit Balance
1,500.00
Credit Balance
800.00

Credit Balance
2,700.00

Credit Balance

Credit Balance
1,695.00 (1,695.00)
904.00 (2,599.00)
333.35 (2,932.35)
(2,028.35)
4,074.00 (6,102.35)

Credit Balance
Credit Balance
20,000.00 (20,000.00)

Credit Balance
195.00
546.00
650.00
728.00
766.35

Credit Balance
832.00 (832.00)
416.00 (1,248.00)
58.50 (1,306.50)
233.35 (1,539.85)

Credit Balance
50,000.00 (50,000.00)

Credit Balance
4,074.00
Credit Balance

Credit Balance
6,400.00 (6,400.00)
3,200.00 (9,600.00)
450.00 (10,050.00)
(10,050.00)
1,795.00 (11,845.00)

Credit Balance
2,500.00
3,100.00
3,395.00
3,395.00
3,477.50

Credit Balance
10,250.00
20,500.00
 Trial Balance
Description Account Debit Credit
Bank Account 110 53,623.50
Petty Cash 115 217.50
Accounts Receivable (A/R) 120 1828.35
Renovation Supplies 130 1500.00
Office Supplies 140 800.00
Equipment 150 2,700.00
Buildings 160
Accounts Payable (A/P) 210 6,102.35
Notes Payable 220
Loans Payable 230 20,000.00
HST Paid 280 766.35
HST Received 290 1,539.85
Capital 300 50,000.00
Draws 310 4,074.00
Dividends 320
Revenue 410 11,845.00
Expenses 610 3,477.50
Wages Expense 620 20,500.00

Totals: 89487.20 89487.20 <- must balance!

- must balance!
CHART OF ACCOUNTS
COA
Assets debit accounts
110 Bank Account
115 Petty Cash
120 Accounts Receivable (A/R) payments collected from customers
130 Renovation Supplies (Inventory)
140 Office Supplies
150 Equipment
160 Buildings
Liabilities credit accounts
210 Accounts Payable (A/P) payments due to suppliers
220 Notes Payable
230 Loans Payable
280 HST Paid (Expenses - DR) Refund from CRA (Receivable)
290 HST Received (Sales - CR) Owed to CRA (Payable)
Capital credit accounts
300 Capital
310 Draws
320 Dividends
Revenue credit accounts
410 Revenue
Expenses debit accounts
610 Expenses
620 Wages Expense
m CRA (Receivable)
RA (Payable)
 Sales Tax Example

300 - HST Paid Expenses 310 - HST Received Revenues

Dr 156 Cr Dr 39 Cr

HST Received - HST Paid = Difference is paid to CRA, or refunded by CRA

Therefore, $39 - $156 = $117 Debit Balance indicates a refund by CRA

4-Nov Cash 339.00

HST Received 39.00
Revenue - business sign 300.00
Three Ladies revenue

30-Nov Rent Expense 1,200.00

HST Paid 156.00
Cash 1,356.00
Paid rent