Tony’s Precision Computer Centre is picking up in business, so he has decided to expand his bookkeeping system to a general journal/ledger system. The balances from June have been forwarded to the ledger accounts in the Excel templates in MyLab Accounting.

Assignment
1. Use the chart of accounts provided in Chapter 2 (page 90) to record the transactions illustrated by the following documents:

2. Post all transactions to the general ledger accounts. (The Prepaid Rent account No. 1025 has been added to the chart of accounts.)
3. Prepare a trial balance for July 31, 2022.
4. Prepare the financial statements for the three months ended July 31, 2022.

Transcribed Image Text:

Precision Computer Centre 385 North Escondido Blvd. Edmonton, AB T6G 1X9 Pay To the Order of Capital Management. One thousand and two hundred 00/100 Royal Bank of Canada 322 Glen Ave. Edmonton, AB T5J 4S8 memo Rent-Jun. Jul. Aug 0611 062 78 72 ‒‒‒‒‒‒‒‒‒ 210 July 3.-2022------- -Tony Freedman-- $1,200.00---‒‒‒‒‒‒‒ ‒‒‒‒‒‒‒‒‒‒‒‒‒ Customer Name Address City Phone Qty 1 Precision Computer Centre 385 N. Escondido Blvd., Edmonton, AB Tonya Parker Jones 12672 Royal Lane Edmonton (780) 720-2954 Upgrade CPU Payment Detalls 0 Cash Cheque Credit Card O O Name CC# Prov. AB Expires Postal Code T5N 2B6 Description of Service Warranty Information 30 days Thank you for your business Involce No. INVOICE Date 7/5/22 Order No. A512 Credit Terms na FOB na Charge $325.00 SubTotal Shipping & Handling CA Taxes TOTAL Office Use Only 12671 TOTAL $325.00 $325.00 $0.00 $325.00