assignment 1

templates for this question are available in MyLab Accounting. Chart of Accounts May 1, 2022 Assets Revenue 4000 Senice Revenue 1000 Cash 1020 Accounts Receivable 1025 Prepaid Rent 1030 Supplies 1080 Computer Shop Equipment 1090 Ofice Equipment Equipment 1080 Expenses 5010 Advertising Expense 5020 Rent Expense 5030 Uits Expense 5040 Phone 5050 Supplies Liabilities Owners quity awals 3010 Accounting. Additional transactions in June were as follows: K. L. M. ense 5010 N. Received the phone bill for the month of May, $155. Paid $150 (cheque No. 205) for insurance for the month. Paid $200 (cheque No. 206) of the amount due from Transaction Din Chapter 10 Paid advertising expense for the month, $1,400 (cheque No. 207). Billed a client (Jeannine Sparks) for services rendered, $850+ Collected $900 for services rendered-a cash sale. Paid the electric bill in full for the month of May (cheque No. 208- transaction H, Chapter 10), $85. Paid cash (cheque No. 209) for $50 in stamps. 0. P. Q. R R. transaction H, Chapter 10), $85. Paid cash (cheque No. 209) for $50 in stamps. Purchased $200 worth of supplies from Computer Connection on account. S. Assignment 1. Set up T accounts in a ledger. 2. Record transactions K through S in the appropriate T accounts. 3. Foot the T accounts where appropriate. 4. Prepare a trial balance at the end of June 2022. 5. From the trial balance, prepare an income statement, a statement of owner's equity, and a balance sheet for the two months enung June 30, 2022 templates for this question are available in MyLab Accounting. Chart of Accounts May 1, 2022 Assets Revenue 4000 Senice Revenue 1000 Cash 1020 Accounts Receivable 1025 Prepaid Rent 1030 Supplies 1080 Computer Shop Equipment 1090 Ofice Equipment Equipment 1080 Expenses 5010 Advertising Expense 5020 Rent Expense 5030 Uits Expense 5040 Phone 5050 Supplies Liabilities Owners quity awals 3010 Accounting. Additional transactions in June were as follows: K. L. M. ense 5010 N. Received the phone bill for the month of May, $155. Paid $150 (cheque No. 205) for insurance for the month. Paid $200 (cheque No. 206) of the amount due from Transaction Din Chapter 10 Paid advertising expense for the month, $1,400 (cheque No. 207). Billed a client (Jeannine Sparks) for services rendered, $850+ Collected $900 for services rendered-a cash sale. Paid the electric bill in full for the month of May (cheque No. 208- transaction H, Chapter 10), $85. Paid cash (cheque No. 209) for $50 in stamps. 0. P. Q. R R. transaction H, Chapter 10), $85. Paid cash (cheque No. 209) for $50 in stamps. Purchased $200 worth of supplies from Computer Connection on account. S. Assignment 1. Set up T accounts in a ledger. 2. Record transactions K through S in the appropriate T accounts. 3. Foot the T accounts where appropriate. 4. Prepare a trial balance at the end of June 2022. 5. From the trial balance, prepare an income statement, a statement of owner's equity, and a balance sheet for the two months enung June 30, 2022