E 125% Zoom View Add Page Collaborate Insert Table Chart Text Shape Media Comment On August 1, Daniels Zyrriere created a small business for storing customers' personal property. The company was named Daniels Zymiere, LLC, a company of the Morehouse Brothers. The following transactions occurred during the first month of operation by the company. Format Document Text List Paragraph Update Date Economic Event August 2 Style Layout More Daniels Zymiere invested $30,000 cash and buildings worth $150,000 in the company in exchange for the common stock. 3 Font The company rented equipment by paying $2,000 cash for the first month's (August) rent. Calibri 5 The company purchased $2,400 of office supplies for cash, Regular 11 pt 10 The company paid $7,200 cash for a 12-month insurance policy. Coverage begins on August 11. B U 5 Character Styles None " 14 24 The company paid an employee $1,000 cash for two weeks' salary earned. The company collected $9,800 cash for storage revenue from customers. $. The company paid $1,000 cash for two weeks' salary earned by an employee Text Color 28 29 30 The company paid $950 cash for minor repairs to buildings. The company paid $400 for this month's telephone bill. . The company paid $2,000 cash in dividends. 31 > Spacing 1.1 > Bullets & Lists Imported Style 1 Required: 1. Prepare journal entries to record the transactions for August and post them to ledger accounts. 2. Prepare unadjusted trial balance as of August 31, 2020 3. Use the following information to journalize and post adjusting entries for the month. Drop Cap AE a. Prepaid insurance of $400 expired this month. b. At the end of the month of Accuenior still usilable E 125% Zoom 1 Insert Table Chart View Add Page Text Shape Media Comment Collaborate Format Document Text List Paragraph Update Style Layout More a. Prepaid insurance of $400 expired this month. b. At the end of the month $1,525 of office supplies are still available. The month's depreciation on buildings is $1,500 $ d. An employee carned $100 of unpaid and unrecorded salary as of month end. e. The company earned $1,150 of storage revenue that is not yet recorded at month end. Font Calibri Regular 11 pt 4. Prepare the adjusted trial balance as of August 31. Prepare Income Statement, and the statement of retained earnings for the month of August and the balance sheet at August 31, 2020 B U 5 Character Styles None " 5. Prepare the journal entries to close the temporary accounts and post these entries to the ledger. 6. Prepare a post-closing trial balance. Text Color > Spacing 1.1 > Bullets & Lists Imported Style 1 Drop Cap AE