Record the following transactions in the journal, post them to the ledger, prepare a trial balance, prepare adjusting journal entries, post them to the ledger, prepare an adjusted trial balance,

Assignment:

7-1: Fionia Franklin contributed $200,000, cash to Fionia Franklin’s Financial Services.
7-1: FFFS signed a lease and paid $100,000, in cash. The term of the lease is 10 months beginning on July 1st.
7-2: FFFS Purchased $10,000 of supplies for cash.
7-3: FFFS Purchased Furniture on Account for $40,000
7-5: FFFS Prepared and delivered a financial plan to Google and billed them $300,000.
7-7: Fionia Franklin withdrew $50,000 from FFFS
7-8: FFFS paid the accounts payable from July 3rd, $40,000, in cash.
7-9: FFFS received a cash retainer of $100,000 from Amazon for Financial services to be provided in the future.
7-10: Google paid the Accounts Receivable from July 5th, $300,000, in cash.

Answer rating: 100% (QA)

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