ACG Week 4 General Journal: Gibbs Barber Shop June Transactions

School: Macquarie University - Course: ACCG 1000 - Subject: Accounting

ACG Week 4 (General Journal) Must show: -The date of purchase -What it is -The receipt of the item -Mark whether it is left (debit) or (credit) -At the need of the column for what it is we add the narration which is a broad term of describing what it is. Activity: Gibbs Barber Shop; June Transactions 1.Jackson contributes 10000 to Gibbs Barber Shop (June 1): Date: 1/6Account Name/Narration: Cash at bankCapital, Jackson (Cashcontribution) Ref:Debit:10000 Credit: 10000 2.Gibbs Barber shoppaid rent of $400 for June (June 4th): June 4Rent Expense:Cash at bank(paid monthly rent) 400 400 3.Gibbs Barber Shopreceived a telephone bill of $160 (June 4th): June 4Telephone BillExpense: Telephone payable(Monthly paid telephone bill) 160 160 4.A client paid 260 cash for a service (June 9th): June 9Cash at bank Service revenue (Profit for service) 5.Gibbs Barber Shop ordered a box of shampoo on credit for $700 (June 12th): June 12BusinesssuppliesBusiness supplies payable700 700
6.Jackson wrote a tax invoice for 140 for a client who had her hair coloured (June 12th): 7.Jackson paid Tony and Tim their weekly salary of 2200 each, and Abby and Leroy's casual wages of 500 and 360 (June 14th): 8.Jackson paid his telephone bill (June 16th): 9.Jackson took a 5-year bank loan of 60000. Interest is 300/month. (June 17th): 10. Jackson bought new grooming equipment for 13200. It is expected to last 4 years, with 0 residual. (June 17th):

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