On June 1, John Sullivan opened a real estate office in Hamilton called Sullivan Realty. The following transactions were completed for the month of June. Note that facsimile documents have been provided to illustrate these events : 1.John Sullivan invested $20.000 cash in the real estate agency, along with $4,000 worth of office equipment. 2.Rented office space and paid three months rent in advance, $3000 , cheque No 601. Sullivan Realty Chart of Accounts Assets REVENUE 111 Cash 411 Commissions Earned 112 Accounts Receivable 114 Prepaid Rent Expenses 115 Office Supplies 511 Rent Expense 121 Office Equipment 512 Salaries Expense 122 Accumulated Depreciation , Office Equipment 513 Gas Expense 123 Automobile 514 Repair Expense 124 Accumulated Depreciation , Automobile 515 Telephone Expense 516 Advertising Expense Liabilities 517 Office Supplies Expense 211 Accounts Payable 518 Depreciation expense, Office Equipment 212 Accrued Salaries 519 Depreciation expense, Automobile 524 Miscellaneous Expense Owner's Equity 311 John Sulivan, Capital 312 John Sulivan , Withdrawals 313 Income Summary 1.Journalize transactions and post to ledger accounts.Required work for June 2.Prepare a trial balance in the first two columns of the worksheet and complete the worksheet using the following adjustment data: a.One month's rent had expired b.An inventory shows $50 worth of office supplies remaining. c.Depreciation on office equipment, $100 d.Depreciation on automobile, $200. 3.Prepare a June income statement, statement of owner's equity, and balance sheet. 4.From the worksheet, journalize and post adjusting and closing entries 5.Prepare a post-closing trial balance Your answer Typed answers are easier for students to read than handwritten notes

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Date General Journal Debit Credit 2022 June 3 Cash 20000 Office Equipment 4000 John Sullivan Capital 24000 June 3 Prepaid Rent 3000 Cash 3000 June 4 Automobile 14000 Cash 14000 June 4 Office Supplies ... View the full answer