do the journal, general ledger, trial balance, adjusting entries, closing entries, the income statement, and the balance sheet for the transactions in the screenshot
 

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On the 1 of January, Youssef, and 2 friends started a company specialized in housekeeping services (we provide maids, gardeners, plumbers, electricians), the company hired 4 maids with an agreement for a salary of $350/month, 2 electricians for $450/month, 2 plumbers for $400/month, 2 gardeners for $350/month and 1 driver for the van for $400/month. the following transactions occurred during the first month of the year: 1. Dec 1: Received contribution of $50,000 from each of the owners of the business in exchange for 50,000 shares of stock each. 2. Dec 2: Purchased a Van to transport the personnel for $40,000, the seller agreed to accept a down payment of $25,000 and a two-year promissory note for the rest. The promissory note has an interest rate of 10% annually, and the van has an estimated useful life of 8 years and a salvage value of $3.000. 3. Dec 3: Purchased a building valued at $60,000, with an agreement with the seller put a down payment of $30,000 and three-year promissory note with annual interest rate of 7%, the building has an estimated useful life of 25 years and a salvage value $10,000. 4. Dec 4: purchase of supplies for $5,500 paid in cash, the supplies include $700 in cleaning supplies and products, $1,200 in gardening equipment and products, $1,800 in electric equipment and supplies and $1,800 in plumbing equipment and supplies. 5. Dec 5: paid $1,000 in Advertising expense for the month 6. Dec 7: bought furniture and office appliances for $10,000 7. Dec 10: Cleaned the villas of a group of clients for $900. 8. Dec 15: reached an agreement with a real estate company to do maintenance to their properties for $15,000, the real estate company has to pay one-half of the bill in 5 working days, and has 10 days to pay the remainder. 9. Dec 17: Prepaid insurance represents the cost of a 24- month policy at $10,000. 10. Dec 18: did gardening for 4 clients for $1,200. 11. Dec 24: did electric maintenance for 6 clients for $3,500. 12. Dec 27: Paid $400 for the annual maintenance of the van including oil and air filters change, engine/breaks/shock absorbers check. 13. Dec 28: bought supplies for $6,000, the supplies include $1,200 for cleaning equipment and products, $800 in gardening products, $2,000 in electric supplies and $2,000 in plumbing supplies. 14. Dec 29: paid $300 in fuel expense for the month 15. Dec 29: paid dividends of $2,000 for each of the owners of the company. 16. Dec 30: paid $60,000 for taxes 17. Dec 30: paid electricity and water bill for the month for $300. 18. Jan 31: unpaid wages and salaries of $4,200. On the 1 of January, Youssef, and 2 friends started a company specialized in housekeeping services (we provide maids, gardeners, plumbers, electricians), the company hired 4 maids with an agreement for a salary of $350/month, 2 electricians for $450/month, 2 plumbers for $400/month, 2 gardeners for $350/month and 1 driver for the van for $400/month. the following transactions occurred during the first month of the year: 1. Dec 1: Received contribution of $50,000 from each of the owners of the business in exchange for 50,000 shares of stock each. 2. Dec 2: Purchased a Van to transport the personnel for $40,000, the seller agreed to accept a down payment of $25,000 and a two-year promissory note for the rest. The promissory note has an interest rate of 10% annually, and the van has an estimated useful life of 8 years and a salvage value of $3.000. 3. Dec 3: Purchased a building valued at $60,000, with an agreement with the seller put a down payment of $30,000 and three-year promissory note with annual interest rate of 7%, the building has an estimated useful life of 25 years and a salvage value $10,000. 4. Dec 4: purchase of supplies for $5,500 paid in cash, the supplies include $700 in cleaning supplies and products, $1,200 in gardening equipment and products, $1,800 in electric equipment and supplies and $1,800 in plumbing equipment and supplies. 5. Dec 5: paid $1,000 in Advertising expense for the month 6. Dec 7: bought furniture and office appliances for $10,000 7. Dec 10: Cleaned the villas of a group of clients for $900. 8. Dec 15: reached an agreement with a real estate company to do maintenance to their properties for $15,000, the real estate company has to pay one-half of the bill in 5 working days, and has 10 days to pay the remainder. 9. Dec 17: Prepaid insurance represents the cost of a 24- month policy at $10,000. 10. Dec 18: did gardening for 4 clients for $1,200. 11. Dec 24: did electric maintenance for 6 clients for $3,500. 12. Dec 27: Paid $400 for the annual maintenance of the van including oil and air filters change, engine/breaks/shock absorbers check. 13. Dec 28: bought supplies for $6,000, the supplies include $1,200 for cleaning equipment and products, $800 in gardening products, $2,000 in electric supplies and $2,000 in plumbing supplies. 14. Dec 29: paid $300 in fuel expense for the month 15. Dec 29: paid dividends of $2,000 for each of the owners of the company. 16. Dec 30: paid $60,000 for taxes 17. Dec 30: paid electricity and water bill for the month for $300. 18. Jan 31: unpaid wages and salaries of $4,200.

Answer rating: 100% (QA)

Date Dec 01 Dec 02 Dec 03 Dec 04 Dec 05 Dec 07 Bank Ac Van Ac Share Capital Ac Owners inject ca... View the full answer