Portland After School Ledger Hhs265

Assignment ledger entries
Journal of the Portland after School Program

July 1, 20XX–December 31, 20XX

(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 six more
months of fire and liability insurance coverage.
Debited Prepaid Insurance     $9,000
Credited Cash                 $9,000

(c) July 15, 20XX—Paid Portland Arts & Crafts Company $3,000 for additional arts and
crafts supplies.
Debited Arts & Craft 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 Investments            $3,000

(e) July 30, 20XX—Paid Oregon Sporting Goods $5,000 for additional recreational
equipment.
Debited Recreation Equipment $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 ...
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