On June 1, 2023, Jade Campbell established a software development business called "Jade Digital" as a sole proprietorship. Over the course of the first month, several transactions and events took place. Jade wishes to determine the performance of his business at the end of the month. As an experienced accountant, Jade has asked you to create the financial reports for Jade Digital for the month ending on June 30, 2023. Required: a) Record all the transactions in the general journal. b) Post all the journal entries to the general ledger. c) Prepare the trial balance of Jade Digital as at 30 June 2023 (unadjusted trial balance before the adjustments). d) Prepare the adjustment journal entries. e) Prepare the adjusted trial balance. ) Prepare closing journal entries. g) Prepare the income statement (based on the adjusted trial balance) of Jade Digital for the month ended 30 June 2023. h) Prepare the statement of changes in equity of Jade Digital for the month ended 30 June 2023. Prepare the balance sheet of Jade Digital as at 30 June 2023.

Answer rating: 100% (QA)

Record the transactions in the general journal for June 2023 The journal entries would be as follows 1 Debit Cash 20000 Credit Owners Equity 20000 2 D... View the full answer