Check Figure , Total Trail balance $8,305.00

Chapter-2 Continuing Problem (please note use chapter-1 information , if you need more information. and to see chapter - 1 , you already solved today) and please solve this, its really hard to type again)

The Precision Computer Centre created its chart of accounts as follows. (Excel templates for this question are available in MyLab Accounting.)

Chart of Accounts

May1, 2022

Assets Revenues

1000 Cash 4000 service revenue

1020 accounts receivable

1025 Prepaid rent Expenses

1030 Supplies 5010 advertising expense

1080 Computer shop equipment 5020 rent expense

1090 Office equipment 5030 utilities expense

5040 Phone expense

Liabilities 5050 supplies expense

2000 Accounts Payable 5060 Insurance expense

5070 Postage expense

Owner's Equity

3000 T. Freedman, Capital

3010 T. Freedman, Withdrawals

The following problem continues from Chapter 1. The balances as of May 31 have been bought forward in the Excel templates for this question in MyLab Accounting. Additional transactions in june were as follows:

K. Received the phone bill for the month of May, $155.

L. Paid $150 for insurance for the month.

M. Paid $200 of the amount due from Transaction D in chapter 1.

N. Paid advertising expense for the month, $1400.

O. Billed a client (Jeannine Sparks ) for services rendered , $850.

P. Collected $900 for services rendered - a cash sale.

Q. Paid the electric bill in full for the month of May (transaction H, chapter 1).

R. Paid cash for $50 in stemps.

S. Purchased $200 worth of supplies from chapter connection on account.

Assignment

1. Set up T accounts in a ledger.

2. Record transaction 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 monthes ending june30, 2022