Journal of Portland After School Program
Journal of the Portland after School Program Exercise 4.1
A.) July 1, 20xx received unrestricted donation check in the amount of 15,000 from the Multnomah County Department of Health and Human Services.
Debited cash 15,000
Credited Revenue 15,000
B.) July 19, 20xx Paid Great Northwest Insurance Company 9,000 for the six months of fire and liability insurance coverage.
Debited prepaid insurance 9,000
Credited cash 9,000
C.) July 15, 20xx paid Portland arts and crafts company 3,000 for additional arts and crafts supplies
Debited arts and crafts supplies 3,000
Credited cash 3,000
D.) July 15, 20xx Transferred temporarily restricted funds in the amount of 3,000 from investments to pay for additional arts and crafts supplies
Debited cash 3,000
Credited investment 3,000
E.) July 30, 20xx paid Oregon sporting goods 5,000 for additional recreations equipment
Debited expense 5,000
Credited cash 5,000
F.) December 31, 20xx received fees from parents in the amount of 40,000
Debited cash 40,000
Credited revenue 40,000
G.) December 31, 20xx to account for 1,750 in fees from parents earned in the first six months of operations, but collected in the second six months.
Debited cash 1,750
Credited accounts receivable 1,750
H.) December 31, 20xx to account for 3,000 in parent fees, earned in the second six months of operations but not yet collected.
Debited accounts receivable 3,000
Credited revenue 3,000
I.) December 31, 20xx to account for expenses Johns Deli in the amount of 1,500 incurred during the first six months of operation but paid in the second six months
Debited accounts payable 1,500
Credited cash 1,500
J.) December 31, 20xx paid Portland gas and electric company 7,500 for utilities
Debited expense 7,500
Credited cash 7,500
K.) December 31, 20xx paid salaries and employee related expenses in the amount of 55,000
Debited expense 55,000
Credited cash 55,000
L.) December 31, 20xx paid pacific bell telephone
A.) July 1, 20xx received unrestricted donation check in the amount of 15,000 from the Multnomah County Department of Health and Human Services.
Debited cash 15,000
Credited Revenue 15,000
B.) July 19, 20xx Paid Great Northwest Insurance Company 9,000 for the six months of fire and liability insurance coverage.
Debited prepaid insurance 9,000
Credited cash 9,000
C.) July 15, 20xx paid Portland arts and crafts company 3,000 for additional arts and crafts supplies
Debited arts and crafts supplies 3,000
Credited cash 3,000
D.) July 15, 20xx Transferred temporarily restricted funds in the amount of 3,000 from investments to pay for additional arts and crafts supplies
Debited cash 3,000
Credited investment 3,000
E.) July 30, 20xx paid Oregon sporting goods 5,000 for additional recreations equipment
Debited expense 5,000
Credited cash 5,000
F.) December 31, 20xx received fees from parents in the amount of 40,000
Debited cash 40,000
Credited revenue 40,000
G.) December 31, 20xx to account for 1,750 in fees from parents earned in the first six months of operations, but collected in the second six months.
Debited cash 1,750
Credited accounts receivable 1,750
H.) December 31, 20xx to account for 3,000 in parent fees, earned in the second six months of operations but not yet collected.
Debited accounts receivable 3,000
Credited revenue 3,000
I.) December 31, 20xx to account for expenses Johns Deli in the amount of 1,500 incurred during the first six months of operation but paid in the second six months
Debited accounts payable 1,500
Credited cash 1,500
J.) December 31, 20xx paid Portland gas and electric company 7,500 for utilities
Debited expense 7,500
Credited cash 7,500
K.) December 31, 20xx paid salaries and employee related expenses in the amount of 55,000
Debited expense 55,000
Credited cash 55,000
L.) December 31, 20xx paid pacific bell telephone