10:07 Name: JP S+ Pieme Constitution, Article II, Class 17: Presidency: an Energetic Executive Federalist #70 Class 18: Presidency: an Energetic Executive. Federalist 71-72 Class 19 Judiciary: Mode of Appointment and Powers Constitution, Article 11, $ 2,12 & Article III; Federalier #78 Class 20: Bill of Rights 1. Accounting Cycle (40 points) This problem is to completed independently at home. You are not permitted to work with other students. Failure to adhere to this policy will result in a grade of zero on the exam; however, you may use your notes. Please bring your completed problem to class on Monday, 9/26. Angel Cleaning Services started operations in June 2022 and prepares financial reports on a monthly basis. Below are the transactions for July 2022 Record the necessary journal entries for these transactions. a. b. C Post the adjusting entries (#6 and 7) to the general ledger provided. Daily transactions are already included in the unadjusted balance. Complete the adjusted trial balance. Date Account Debit Credit 1. Shareholders contributed 1-Jul $20,000 cash in exchange for Cash Common stock 20,000 20,000 common stock. 2. Purchased $2,400 of office 5-Jul supplies on credit. Supplies expense Cash 21,00 2400 3. Paid $2,500 for current month's rent. 7-Jul Rent expense 2,500 Cash 2500 4. Received $7,800 cash from customers for services to be 15-Jul Cash 7,200 hearned revenu 7,800 provided over the next three weeks. 5. Performed services for $2,780 for customers on credit. 28-Jul un earned revenue Accounts recievable 2,780 2,710 Adjusting Entries 6. Determined that $2,150 of Office supplies are left at month 31-Jul Retained earnings 2,150 Depreciation expense 250 -nd. > O Send a chat Q