Lab 1
ACCT2021
STUDENT
Joe's Roadside Motel had the following balances in their General Ledger accounts at the end of December 2022
Cash $65,000
Credit Card Receivable $4,200
Furniture $115,000
Building $675,000
Accounts Payable $8,700
Bank Loan $325,000
Joe, Capital $525,500
The following are the transactions for the month of January 2023:
Jan 3 Joe paid the utilities bill from last month, $2,300
Jan 5 Bought new TVs for rooms, $5,000
Jan 8 Paid wages for housekeeping, $1,800
Jan 10 Collected money owed by Credit Card clearing
Jan 10 Sales for week, Cash $1,000, Credit Card $3,800
Jan 15 Accounts receivable
Jan 17 Sales for week, Cash $1,800, Credit Card $3,500
Jan 19 Table
Jan 20 Paid last month's phone bill, $285
Jan 20 Paid cash for contractor to repair window, $200
Jan 21 Withdrew cash for personal use, $3,100
Jan 22 Made payment on bank loan, $4,700
Jan 24 Sales for week, Cash $2,000, Credit Card $2,900
Jan 25 Purchased office supplies, Cash, $85
Jan 31 Paid housekeeping wages, $750
REQUIRED:
JOURNALIZE AND POST THE TRANSACTIONS
CREATE THE TRIAL BALANCE
CREATE THE INCOME STATEMENT, STATEMENT OF OWNER'S EQUITY, AND BALANCE SHEET