1. Paid three months’ rent on a lease rental contract, $6,000.
2. Paid the premiums on property and casualty insurance policies, $2,400.
3. Received cash from clients as an advance payment for services to be provided and recorded it as unearned fees, $2,700

For the past several years, Emily Page has operated a part-time consulting business from her home. As of June 1, 2010, Emily decided to move to rented quarters and tooperate the business, which was to be known as Bottom Line Consulting, on a full-timebasis. Bottom Line Consulting entered into the following transactions during June:

June 1. The following assets were received from Emily Page: cash, $20,000; accounts receivable, $4,500; supplies, $2,000; and office equipment, $11,500. There were no liabilities received.

1. Paid three months’ rent on a lease rental contract, $6,000.
2. Paid the premiums on property and casualty insurance policies, $2,400.
3. Received cash from clients as an advance payment for services to be provided and recorded it as

unearned fees, $2,700.

1. Purchased additional office equipment on account from Office Depot Co., $3,500.
2. Received cash from clients on account, $3,000.
3. Paid cash for a newspaper advertisement, $200.
4. Paid Office Depot Co. for part of the debt incurred on June 5, $750.
5. Recorded services provided on account for the period June 1–12, $5,100.
6. Paid part-time receptionist for two weeks’ salary, $1,100.
7. Recorded cash from cash clients for fees earned during the period June 1–16, $6,500.
8. Paid cash for supplies, $750.
9. Recorded services provided on account for the period June 13–20, $3,100.
10. Recorded cash from cash clients for fees earned for the period June 17–24, $5,150.
11. Received cash from clients on account, $6,900.
12. Paid part-time receptionist for two weeks’ salary, $1,100.
13. Paid telephone bill for June, $150.
14. Paid electricity bill for June, $400.
15. Recorded cash from cash clients for fees earned for the period June 25–30, $2,500.
16. Recorded services provided on account for the remainder of June, $1,000.
17. Emily withdrew $5,000 for personal use.

Instructions

1. Journalize each transaction in a two-column journal, referring to the following chartof accounts in selecting the accounts to be debited and credited. (Do not insert theaccount numbers in the journal at this

For the past several years, Emily Page has operated a part-time consulting business
from her home. As of June 1, 2010, Emily decided to move to rented quarters and to
operate the business, which was to be known as Bottom Line Consulting, on a full-time
basis. Bottom Line Consulting entered into the following transactions during June:
June 1. The following assets were received from Emily Page: cash, $20,000; accounts
receivable, $4,500; supplies, $2,000; and office equipment, $11,500. There were
no liabilities received.
1. Paid three months rent on a lease rental contract, $6,000.
2. Paid the premiums on property and casualty insurance policies, $2,400.
4. Received cash from clients as an advance payment for services to be provided and recorded it as unearned fees, $2,700.
5. Purchased additional office equipment on account from Office Depot Co.,$3,500.
6. Received cash from clients on account, $3,000.
10. Paid cash for a newspaper advertisement, $200.
12. Paid Office Depot Co. for part of the debt incurred on June 5, $750.
June 12. Recorded services provided on account for the period June 1 12, $5,100.
14. Paid part-time receptionist for two weeks salary, $1,100.
17. Recorded cash from cash clients for fees earned during the period June 1 16, $6,500.
18. Paid cash for supplies, $750.
20. Recorded services provided on account for the period June 1320, $3,100.
24. Recorded cash from cash clients for fees earned for the period June 17 24, $5,150.
26. Received cash from clients on account, $6,900.
27. Paid part-time receptionist for two weeks salary, $1,100.
29. Paid telephone bill for June, $150.
30. Paid electricity bill for June, $400.
30. Recorded cash from cash clients for fees earned for the period June 25 30, $2,500.
30. Recorded services provided on account for the remainder of June, $1,000.
30. Emily withdrew $5,000 for personal use.
Instructions
1. Journalize each transaction in a two-column journal, referring to the following chart
of accounts in selecting the accounts to be debited and credited. (Do not insert the account numbers in the journal at this time.)
11 Cash 31 Emily Page, Capital
12 Accounts Receivable 32 Emily Page, Drawing
14 Supplies 41 Fees Earned
15 Prepaid Rent 51 Salary Expense
16 Prepaid Insurance 52 Rent Expense
18 Office Equipment 53 Supplies Expense
19 Accumulated Depreciation 54 Depreciation Expense
21 Accounts Payable 55 Insurance Expense
22 Salaries Payable 59 Miscellaneous Expense
23 Unearned Fees
2. Post the journal to a ledger of four-column accounts.

For the past several years, Emily Page has operated a part-time consulting business from her home. As of June 1, 2010, Emily decided to move to rented quarters and tooperate the business, which was to be known as Bottom Line Consulting, on a full-timebasis. Bottom Line Consulting entered into the following transactions during June: June 1. The following assets were received from Emily Page: cash, $20,000; accounts receivable, $4,500; supplies, $2,000; and office equipment, $11,500. There were no liabilities received. 1. Paid three months’ rent on a lease rental contract, $6,000. 2. Paid the premiums on property and casualty insurance policies, $2,400. 4. Received cash from clients as an advance payment for services to be provided and recorded it as  unearned fees, $2,700. 5. Purchased additional office equipment on account from Office Depot Co., $3,500. 6. Received cash from clients on account, $3,000. 10. Paid cash for a newspaper advertisement, $200. 12. Paid Office Depot Co. for part of the debt incurred on June 5, $750. 12. Recorded services provided on account for the period June 1–12, $5,100. 14. Paid part-time receptionist for two weeks’ salary, $1,100. 17. Recorded cash from cash clients for fees earned during the period June 1–16, $6,500. 18. Paid cash for supplies, $750. 20. Recorded services provided on account for the period June 13–20, $3,100. 24. Recorded cash from cash clients for fees earned for the period June 17–24, $5,150. 26. Received cash from clients on account, $6,900. 27. Paid part-time receptionist for two weeks’ salary, $1,100. 29. Paid telephone bill for June, $150. 30. Paid electricity bill for June, $400. 30. Recorded cash from cash clients for fees earned for the period June 25–30, $2,500. 30. Recorded services provided on account for the remainder of June, $1,000. 30. Emily withdrew $5,000 for personal use. 
 
 
 
Instructions 1. Journalize each transaction in a two-column journal, referring to the following chartof accounts in selecting the accounts to be debited and credited. (Do not insert theaccount numbers in the journal at this time.) 11 Cash    31 Emily Page, Capital 12 Accounts Receivable   32 Emily Page, Drawing 14 Supplies     41 Fees Earned 15 Prepaid Rent    51 Salary Expense 16 Prepaid Insurance    52 Rent Expense 18 Office Equipment    53 Supplies Expense 19 Accumulated Depreciation   54 Depreciation Expense 21 Accounts Payable    55 Insurance Expense 22 Salaries Payable    59 Miscellaneous Expense 23 Unearned Fees