july $1$st $k.$samuels, sole shareholder of samuels internet cafe ltd$,$ started his business by investing by investing his cash saving of $$8200$ for $100$ shares of the business $.1$st$,$ Recevied a bank loan for $$20,0002$nd$,$paid rent for the month of July and august total $2,2003$rd$,$Bought office supplies worth $1,200$ cash $3$rd $,$Bought computer for $10,300$paid $3,5005$th$,$ Bought office equipment worth $$3,100$ paid $$6006$ th$,$Paid eletrician expense $$300$ cash $7$ th$,$Paid assembly expense $$320$ cash $8$ th$,$ Revenue of $72,00$ cash for surfing internet $10$th$,$ Revenue of $35,00$ for games customer owed $$25,0011$ th$,$Purchases stationery for $$150$ cash $13$th$,$ Ksamuels received a dividend of $$10$ per share from business for personal use $15$ th$,$ Received $$100$ as prepayment for internet surfing $18$ th$,$Paid salary $$15,7020$ th$,$paid of repairs and maintenance $$1,00022$ nd$,$ Revenue of $12,00$ cash for using MS office $24$ th$,$Paid $$1,800$ for the computers purchased on July $3$rd $28$ th Revenue of $$3,000$ cash Received from customer purchase from vending machine. $31$st$,$ Tax expensesnto be paid before august $15$ th is $250$$$31$ st$,$ Adjusting entry for the rent for july For the month of July $20201.$Prepare Generral ledger $($T$-$accounts$)$ note : Asset :Cash accounts Receivable $,$Prepaid rent, Unused supplies, computers, office Equpment Liabilities : Accounts payable, unearned Revenue $,$ bank loan $,$ taxes payable $.$ Capital : share capital $,$Dividends $.$ Revenue:Revenue from internet, Revenue from Games, Revenue from MS office, and Revenue from vending machine $.$ Expenses:Assembly Expense, Electical Expense, Maintenance Expense, Rent Expense,salaries Expense, Tax Expense. $2.$ Prepare Journal entries and post the entries to the General ledger $3.$Show the trial balance at period end $\mathrm{.}4.$Prepare income statement at period end $5.$ Create a statement of changes of Equity at the period end $6.$Prepare balance sheet at period end

Answer rating: 100% (QA)

General Ledger Assets Cash 72000 Accounts Receivable 100 Prepaid Rent 0 Unused Supplies 0 Computers ... View the full answer