I have provided you with the numbers for the year as of May 31st. Listed below...
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I have provided you with the numbers for the year as of May 31st. Listed below are the transactions I had during the month of June. Would you please create the following for me to show to my banker: I have provided you with the numbers for the year as of May 31st 1. June Worksheet showing all adjustments 2. June Income State 3. June Balance Sheet 4. June Statement of owner's equity 5. June Post Closing Trial Balance Amount Description June Transactions Date 1 2 2 3 10 14 15 16 24 27 28 28 29 30 30 30 $1,500 Purchased a new computer $800 Purchased supplies at Home Depot $150 Purchased fertilizer supplies on account $120 Paid the May salaries $400 Completed 1/2 of the work under Unearned Revenue $55 Paid the utility bill for the month (rental shed electricity) $2,000 Collected 1/2 of the Accounts Receivable $800 Paid Accounts Payable $250 Paid for repair one large mower $300 Wrote off bad debt from customer who skipped town $1,700 Collected remaining Accounts Receivable for May $275 Filled the tanks for all of the work vehicles $80 Paid monthly cell phone bill $1,200 Bobby withdrew cash for personal expenses $80 Paid for newspaper flyer to advertise in several neighborhoods $4,500 Generated invoices to customers for June In addition to these transactions, please note the following information: Ended June with $950 in supplies, Completed the work for the remaining Unearned Revenue, Salaries earned but not paid for June was $200, Mowing Equipment depreciation for June is $100, Insurance expired in June was $200, and Used 1/4 of the Prepaid Rent The following is required for this project: 1. Post the May Post closing trial balances to the general ledger accounts Journalize the June transactions 2. 3. Post the June transactions to the general ledger (G/L), a running balance is required for each G/L account. 4. Prepare the unadjusted trial balance on the worksheet 5. Journalize and post the adjusting entries. 6. Complete the worksheet with the adjusted trial balance, the income statement, and the balance sheet. 7. Prepare the June financial statements (Income Statement, Statement of Owner's equity, Balance Sheet) 8. Journalize and post the closing entries to the general ledger. 9. Prepare the June post-closing trial balance. I have provided you with the numbers for the year as of May 31st. Listed below are the transactions I had during the month of June. Would you please create the following for me to show to my banker: I have provided you with the numbers for the year as of May 31st 1. June Worksheet showing all adjustments 2. June Income State 3. June Balance Sheet 4. June Statement of owner's equity 5. June Post Closing Trial Balance Amount Description June Transactions Date 1 2 2 3 10 14 15 16 24 27 28 28 29 30 30 30 $1,500 Purchased a new computer $800 Purchased supplies at Home Depot $150 Purchased fertilizer supplies on account $120 Paid the May salaries $400 Completed 1/2 of the work under Unearned Revenue $55 Paid the utility bill for the month (rental shed electricity) $2,000 Collected 1/2 of the Accounts Receivable $800 Paid Accounts Payable $250 Paid for repair one large mower $300 Wrote off bad debt from customer who skipped town $1,700 Collected remaining Accounts Receivable for May $275 Filled the tanks for all of the work vehicles $80 Paid monthly cell phone bill $1,200 Bobby withdrew cash for personal expenses $80 Paid for newspaper flyer to advertise in several neighborhoods $4,500 Generated invoices to customers for June In addition to these transactions, please note the following information: Ended June with $950 in supplies, Completed the work for the remaining Unearned Revenue, Salaries earned but not paid for June was $200, Mowing Equipment depreciation for June is $100, Insurance expired in June was $200, and Used 1/4 of the Prepaid Rent The following is required for this project: 1. Post the May Post closing trial balances to the general ledger accounts Journalize the June transactions 2. 3. Post the June transactions to the general ledger (G/L), a running balance is required for each G/L account. 4. Prepare the unadjusted trial balance on the worksheet 5. Journalize and post the adjusting entries. 6. Complete the worksheet with the adjusted trial balance, the income statement, and the balance sheet. 7. Prepare the June financial statements (Income Statement, Statement of Owner's equity, Balance Sheet) 8. Journalize and post the closing entries to the general ledger. 9. Prepare the June post-closing trial balance.
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Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date:
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