B % D Instructions E Conditional Format Formatting as Tatic F 1 G H 21. Using the Chart of Accounts provided, record the transactions for month of June in the General Joumal. Do not add new accounts K 3 M N 2. Post the General Journal entries to the General Ledger 3. Prepare the Unadjusted Trial Balance in the Trial Balance tab, 4. Joumalize any adjusting entries in the General Joumal and post to the General Ledger Show your calculations for the adjustments in the Adjustments tab, 5. Prepare the Adjusted Trial Balance in the Trial Balances tab. 6. Prepare the closing joumal entries in the General Journal and post to the General Ledger. 7. Prepare the Post-Closing Trial Balance in the Trial Balances tab. Also the income Statement and Balance Sheet columns on the Trial Balance tab. 8. Prepare classified statements for the income Statement, Statement of Retained Earings, Statement of Stockholders' Equity, and Balance Sheet Statement for the period of July 1, 2020 - June 30 2021 in the appropriate tabs. Ignore the effects of income tax. 10. Note the following additional information: 1. The business began on July 1, 2020 2. The period under consideration is July 1, 2020 - June 30, 2021 13. For the purposes of this assignment, ignore the effects of cost of goods sold, income tax, property tax sales tax, and payroll tax 4. Straight-line depreciation method is used. Instructions Accounts Transactions Gontoral Journal Adjustments Closing General Ledger This Balance Inne Sosten Ready 000 D Londitional Format Formatting as E F G H 4. Straight-line depreciation method is used. 5. The supplies on hand June 30, 2021 were $750. 2 M 0 1 2 3 + 5 3 N 6. Physical count of food inventory on hand June 30, 2021 was $1.500 7. The telephone bill for June 30, 2021 for $135 was received July, 2021 8. The utility bill for June 30, 2021 for $285 was received July 2021. 9. For the purposes of this assignment, consider the note payable for delivery van purchase to be a current liability 10. The following transactions occurred in the first month of operations and are refected in the general ledger account balances: July 1, 2020 Liz Bumes and her brother, James each invested $15,000 in a corporation they formed to run Diner 64 Inc. Each were issued 1,500 shares of $10 per value common stock. July 1, 2020 The corporation took a $30,000 small business loan from a local bank. The loan is an interest only' loan for three years at a foxed rate of 12% per year. A balloon payment of the principal will be due in 3 years. The monthly interest payment is due by the 10th of the following month July 1, 2020 Because this was a new business, the landlord required the business to prepay $6,000 for the rent for the first six month, plus a $1.500 secunty deposit for a total cash outlay of $7,500 The business purchased equipment and fixtures for $20,000 in cash. The assets have a useful life of 10 years. July 1 2020 July 1.2020 The company purchased a delivery van value at $40,000 with a $15.000 down payment and a 3-year, $25,000 note payable with an annual intereste rate of 6%. The truck has a 10-year useful life. The monthly payment including principal and interest is $760,55 Instructions Accounts Transactions General Journal Adjustments Closing General Ledger Tral Balance Income Statement Ready C D E H u K L M N July 1, 2020 Because this was a new business, the landlord required the business to prepay $6,000 for the rent for the first six month, plus a $1,500 security deposit for a total cash outlay of $7,500 July 1, 2020 July 1, 2020 The business purchased equipment and fixtures for $20,000 in cash. The assets have a useful life of 10 years The company purchased a delivery van value at $40,000 with a $15,000 down payment and a 3-year, $25,000 note payable with an annual intereste rate of 6%. The truck has a 10-year oful life. The monthly payment including principal and interest is $760.55. Preston Hill, a local Bed & Breakfast (B&B)arranges with Diner 64 to provide breakfast for their guests at $10 per person per day Diner 64 will bill the B & B at the end of each month for the meals provided. Payment is required by the 10th of the next month Paid $4,800 for two-year fire and liability insurance with coverage beginning September 1, 2020. July 8, 2020 July 15, 2020 A 00 A B 6 Number Account 7 8 Assets 9 100 Cash 10 110 Accounts receivable 11 115 Food Inventory 12 125 Supplies 13 130 Prepaid rent 14 135 Prepaid insurance 15 140 Delivery Van 16 150 Equipment and Fixtures 17 155 Accumulated depreciation 18 160 Security deposit 19 20 Liabilities 21 210 Accounts payable 22 220 Notes payable 23 230 Gift Certificates 24 240 Interest payable 25 26 Stockholders' Equity 27 300 Common stock 28 310 Retained eamings 29 30 Revenue 31 400 Sales revenue 32 33 Expenses 34 500 Cost of Goods Sold 35 600 Advertising expense 36 610 Salaries expense 37 620 Supplies expense 38 630 Rent expense Instructions Accounts Transactions Gone B Stockholders' Equity Common stock Retained earings Revenue Sales revenue A 26 27 300 28 310 29 30 31 400 32 33 34 500 35 600 36 610 37 620 38 630 39 640 40 650 41 660 42 665 43 670 44 675 45 680 46 685 47 690 48 695 49 700 50 750 51 52 53 54 55 56 57 50 Expenses Cost of Goods Sold Advertising expense Salaries expense Supplies expense Rent expense Depreciation expense Interest expense Insurance expense Gasoline Telephone expense Printing expense Repair expense Utilities expense Uniform expense Cleaning & maintenance expense Dividends Income summary JX A B c D E F G H J K Diner 64, Inc. Accounting Transactions for the Month of June 2021 Date Description June 2, 2021 Paid June rent in the amount of $1,000. June 2, 2021 Paid $750 for six-months auto insurance policy beginning June 1. 1 June 5, 2021 Food purchases in the amount of $1,200 paid in cash. 2 3 June 6, 2021 The business purchased $2,500 for supplies on account from Jones Supplies Co. 4 15 June 8, 2021 Payment received from Preston Hill B & B for May 2021. 16 17 June 12, 2021 Food purchases in the amount of $600 paid in cash. 18 19 June 16, 2021 Cash receipts were deposited in the amount of $3,800. 20 21 June 16, 2021 Paid $1,200 to employees for wages earned during the first two weeks of June. 22 23 June 22, 2021 Paid amount due to Jones Supplies Co. 24 25 June 22, 2021 Cash receipts were deposited in the amount of $4,500. 26 27 June 26, 2021 Paid utilities bill in the amount of $355. 28 29 June 26, 2021 Paid telephone bill in the amount of $170.00. 30 31 June 26, 2021 Cash receipts were deposited in the amount of $3.000 Instructions Accounts Transactions General Journal Adjustments Closing General Ledger Ready Trial K L A B D E F G H 28 29 June 26, 2021 Paid telephone bill in the amount of $170.00 30 31 June 26, 2021 Cash receipts were deposited in the amount of $3,000. 32 33 June 28, 2021 Paid for cleaning and maintenance expense for the month, $1,150. 34 35 June 30, 2021 Truck payment remitted - Total $760.55 (Principal = $664.73; Interest = $95.82) 36 37 June 30, 2021 Cash receipts were deposited, $6,500. 38 39 June 30, 2021 Sent and recorded invoice to Preston Hill B & B for month of June in the amount of $600. 40 41 June 30, 2021 Paid $3,850 to the company credit card for the following charges: 42 Advertising: $1,850 43 Uniforms: $300 44 Repairs: $250 45 Printing: $800 46 Gasoline: $650 47 4B June 30, 2021 Paid $1,000 to employees for wages earned during the last two weeks of June. 49 50 June 30, 2021 Sold $250 in gift certificates to customers in cash. 51 52 June 30, 2021 Dividends paid to shareholders in the amount of $500 53 54 55 58 57 58 59 Instructions Accounts Transactions General Joumal Adjustments Closing General Ledger Ready 88988128988 Thal Balance