critical thinking problem 4.2 startup business

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Critical Thinking Problem 4.2 Start-Up Business On June 1, 2019, Jenna Davis opened the Leadership Coaching Agency. DATE June 1 2 3 4 6 7 8 10 11 12 15 18 20 25 27 28 30 TRANSACTION Jenna Davis invested $40,000 cash to start the business. Issued Check 201 for $2,000 to pay the June rent for the office. Purchased desk and other office furniture for $12,000 from Lowe's Office Supply, Invoice 5103; issued Check 202 for a $2,000 down payment with the balance due in 30 days. Issued Check 203 for $1,700 for supplies. Performed services for $7,000 in cash. Issued Check 204 for $3,000 to pay for advertising expense. Purchased recording equipment for $15,000 from Special Moves, Inc., Invoice 2122; issued Check 205 for a down payment of $5,000 with the balance due in 30 days. Performed services for $5,500 on account. Issued Check 206 for $3,000 to Lowe's Office Supply as payment on account. Performed services for $10,000 in cash. Issued Check 207 for $6,200 to pay an employee's salary. Received payments of $4,000 from credit clients on account. Issued Check 208 for $6,000 to Special Moves, Inc., as payment on account. Issued Check 209 in the amount of $375 for the monthly telephone bill. Issued Check 210 in the amount of $980 for the monthly electric bill. Issued Check 211 to Jenna Davis for $5,000 for personal living expenses. Issued Check 212 for $6,200 to pay the salary of an employee. Required: 1. 2. 3. 4. 5. 6. Prepare the journal entries for the above transactions. Post the above transactions to the ledger accounts. Prepare a trial balance. Prepare the income statement. Prepare a statement of owner's equity. Prepare the balance sheet. Analyze: How many postings were made to the Cash account