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      On October 1, 2018, Elisabeth established an interior decorating business, Ultimate Designs. During the month, Elisabeth completed the following transactions related to the business :

      Oct.

      1.

      Elisabeth transferred cash from a personal bank account to an account to be used for the business, Rp. 20.000.000.

       

      3.

      Paid rent for period of October 3 to end of month, Rp. 1.600.000.

       

      10.

      Purchased a truck for Rp. 15.000.000 paying Rp. 5.000.000 cash and giving a note payable for the remainder.

       

      13.

      Purchased equipment on account, Rp. 4.500.000.

       

      14.

      Purchased supplies for cash, Rp. 1.100.000.

       

      15.

      Paid annual premiums on property and casualty and casualty insurance, Rp. 2.800.000.

       

      15.

      Received cash for job completed, Rp. 6.100.000.

       

      21.

      Paid creditor a portion of the amount owed for equipment purchased on October 13 Rp. 2.400.000.

       

      24.

      Recorded jobs completed on account and sent invoices to customers, Rp. 8.600.000.

       

      26.

      Received an invoice for truck expenses, to be paid in November, Rp. 875.000.

       

      27.

      Paid utilities expenses, Rp. 900.000.

       

      27.

      Paid miscellaneous expenses, Rp. 315.000.

       

      29.

      Received cash from customers on account, Rp. 4.100.000.

       

      30.

      Paid wages of employees, Rp. 2.500.000.

       

      31.

      Withdrew cash for personal use Rp. 3.000.000.

      Instructions

      1.     Journalize each transaction in a two-column journal, referring to the following chart of accounts in selecting the accounts to be debited an credited. Journal entry explanations may be omitted.

      11 Cash                                                31 Elisabeth, Capital

      12 Accounts Receivable                        32 Elisabeth, Drawing

      13 Supplies                                           41 Fees Earned

      14 Prepaid Insurance                             51 Wages Expense

      16 Equipment                                        53 Rent Expense

      18 Truck                                               54 Utilities Expense

      21 Notes Payable                                  55 Truck Expense

      22 Accounts Payable                             59 Miscellaneous Expense

      2.     Post the journal to a ledger of four-column accounts, inserting appropriate posting references as each item is posted. Extend the appropriate balance columns after each transaction is posted.

      3.     Prepare an unadjusted trial balance for Ultimate Designs as of October 31, 2018.