Create worksheet for the following A Complete Accounting Cycle Project After graduating from College you have decided

Create worksheet for the following

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A Complete Accounting Cycle Project After graduating from College you have decided to open a Bookkeeping Consulting Firm. You did some consulting during last few months and you recently filed a corporation starting July 2016. You should choose a name: NAME Consulting Inc. Your new firm entered into the following transactions starting July 1st, 2016 1-Jul Following assets were received from you in exchange for 1000 shares of common stock: Cash A/R Supplies Office Equipment Use straight line of Depreciation Office Equipment useful life: Years 3 Residual Value: 320.00 1 The firm paid 2 months' rent for a office space lease contract.... S 2 Paid one year insurance policy premium in advance 4 Received advance cash from a new clients for future services 5 Purchased additional office equipment on account from Office Depot 6 Received cash from clients on account 10 Paid cash for a local newspaper advertisement 12 Paid Office Depot for part of equipment purchased on account 12 Sent invoice #005 to a customer for 90 hrs consultation provided recently 14 Paid your receptionist for two weeks' salary 17 From a cash clients, you received cash after providing some consultation 18 You paid by your business debit card to purchase some supplies 20 Sent invoice #006 to a customer for the service provided during last few days 24 From a cash clients, you received cash after providing some consultation 26 Received cash from clients on account 27 Paid your receptionist for two weeks' salary 29 Received and paid telephone bill for July (Ch# 007) 31 Received and paid electricity bill for July (Ch# 008) 31 From a cash clients, you received cash after providing some consultation 31 Sent invoice #007 to a customer for the service provided during last few days 31 Declared and paid dividends (Ch# 009) 1 Instructions: Record the transactions & Post to the General Ledger accounts. 2 Prepare Bank Reconciliation and post the necessery General Journal Entries. 3 Prepare a worksheet with unadjusted trial balances in it. At the end of July analyze and use these data to complete month-end adjustments. a Supply on hand... b Record adjustments to Insurance, Rent and Equipment Depreciation Accrual receptionist salary on July 31st for one day. e Unearned fees as of July 31 4 Journalize and post adjusting entries after completing the worksheet 5 Prepare an Income Statement, a Retained Earnings Statement, and a Balance Sheet 6 Prepare, record, and post closing entries. 7 Prepare a Post-closing Trial Balance. 8 Write a Memorandum to your bank in regards to Profitability of your new corporation. d. 13500 20800 3200 7500 5000 4500 5500 6500 15300 400 5200 1750 450 600 200 12000 1750 300 600 150 1500 $1525 2750 A Complete Accounting Cycle Project After graduating from College you have decided to open a Bookkeeping Consulting Firm. You did some consulting during last few months and you recently filed a corporation starting July 2016. You should choose a name: NAME Consulting Inc. Your new firm entered into the following transactions starting July 1st, 2016 1-Jul Following assets were received from you in exchange for 1000 shares of common stock: Cash A/R Supplies Office Equipment Use straight line of Depreciation Office Equipment useful life: Years 3 Residual Value: 320.00 1 The firm paid 2 months' rent for a office space lease contract.... S 2 Paid one year insurance policy premium in advance 4 Received advance cash from a new clients for future services 5 Purchased additional office equipment on account from Office Depot 6 Received cash from clients on account 10 Paid cash for a local newspaper advertisement 12 Paid Office Depot for part of equipment purchased on account 12 Sent invoice #005 to a customer for 90 hrs consultation provided recently 14 Paid your receptionist for two weeks' salary 17 From a cash clients, you received cash after providing some consultation 18 You paid by your business debit card to purchase some supplies 20 Sent invoice #006 to a customer for the service provided during last few days 24 From a cash clients, you received cash after providing some consultation 26 Received cash from clients on account 27 Paid your receptionist for two weeks' salary 29 Received and paid telephone bill for July (Ch# 007) 31 Received and paid electricity bill for July (Ch# 008) 31 From a cash clients, you received cash after providing some consultation 31 Sent invoice #007 to a customer for the service provided during last few days 31 Declared and paid dividends (Ch# 009) 1 Instructions: Record the transactions & Post to the General Ledger accounts. 2 Prepare Bank Reconciliation and post the necessery General Journal Entries. 3 Prepare a worksheet with unadjusted trial balances in it. At the end of July analyze and use these data to complete month-end adjustments. a Supply on hand... b Record adjustments to Insurance, Rent and Equipment Depreciation Accrual receptionist salary on July 31st for one day. e Unearned fees as of July 31 4 Journalize and post adjusting entries after completing the worksheet 5 Prepare an Income Statement, a Retained Earnings Statement, and a Balance Sheet 6 Prepare, record, and post closing entries. 7 Prepare a Post-closing Trial Balance. 8 Write a Memorandum to your bank in regards to Profitability of your new corporation. d. 13500 20800 3200 7500 5000 4500 5500 6500 15300 400 5200 1750 450 600 200 12000 1750 300 600 150 1500 $1525 2750

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DateJuly Particulars Dr Cr 1 Cash Ac dr 13500 AR Ac dr 20800 Supplies Ac dr 3200 Office equipment Ac ... View the full answer