please answer the problem as if you are putting them in the boxes simply.

(prepare a trail balance sheet at july 31. trail balances.

prepr income statement for july

Click to come the Daten-ellek to s t recent fiscal year, Flounder Computer Consultants post-closing trial balance was as follows: Debit Credit Accounts receivable Supplies $4,390 1,010 500 Accounts payable Unearned service revenue $340 940 3.000 Common stock Retained earnings 1.700 $5.900 $5,000 The company underwent a major expansion in July. New staff was hired and more financing was obtained. Flounder conducted the following transactions during July 2017, and adjusts its accounts monthly July 1 Purchased equipment, paying $3,600 cash and signing a 2-year note payable for $16,800. The equipment has a 4-year useful life. The note has a 6% Interest rate which is payable on the first day of each following month. 2 Issued 16,800 shares of common stock for $42,000 cash 3 Paid $3,000 cash for a 12-month Insurance policy effective July 1 3 Paid the first 2 July and August 2017) months' rent for an annual lease of office space for $3,400 per month 6 Paid $3.200 for supplies. 9 Visited client offices and agreed on the terms of a consulting project. Flounder will bill the client, Connor Productions, on the 20th of each month for services performed 10 Collected $1,010 cash on account from Milani Brothers. This client was billed in June when Flounder performed the service. 13 Performed services for Fitzgerald Enterprises. This client paid $940 in advance last month. All services relating to this payment are now completed. 14 Paid $340 cash for a utility bil. This related to June utilities that were accrued at the end of June. 16 Met with a new cient, Thunder Bay Technologies. Received $10,100 cash in advance for future services to be performed 18 Pald semi-monthly salaries for $9,200. 20 Performed services worth $23.500 on account and billed customers. monthly July 1 Purchased equipment, paying $3,600 cash and signing a 2-year note payable for $16,000. The equipment has a 4-year useful life. The note has a 6% interest rate which is payable on the first day of each following month 2 Issued 16,800 shares of common stock for $42,000 cash 3 Paid $3,000 cash for a 12 month insurance policy effective July 1. 3 Paid the first 2 July and August 2017) months' rent for an annual lease of office space for $3.400 per month 6 Paid $3.200 for supplies 9 Visited client offices and agreed on the terms of a consulting project. Flounder will be the client, Connor Productions, on the 20th of each month for services performed. 10 Collected $1,010 cash on account from Milani Brothers. This client was billed in June when Flounder performed the service. 13 Performed services for Fitzgerald Enterprises. This client paid $940 in advance last month. All services relating to this payment are now completed. 14 Paid $340 cash for a utility bill. This related to June utilities that were accrued at the end of June. 16 Met with a new client, Thunder Bay Technologies. Received $10,100 cash in advance for future services to be performed 18 Paid semi-monthly salaries for $9.200 20 Performed services worth $23.500 on account and billed customers 20 Received a bill for $1,800 for advertising services received during July. The amount is not due until August 15. 23 Performed the first phase of the project for Thunder Bay Technologies. Recognized $8.400 of revenue from the cash advance received July 16, 27 Received $12,600 cash from customers billed on July 20. Adjustment data: 1. Adjustment of prepaid insurance 2. Adjustment of prepaid rent 3. Supplies used, $1,050. 4. Equipment depreciation. $425 per month 5. Accrual of interest on note payable 6. Salaries for the second half of July $9.200, to be paid on August 1. 7. Estimated utilities expense for July $670 invoice will be received in August) 8. Income tax for July $1.010, will be paid in August, Enter the July 1 balances in the lenger accounts. Cash July 1 - Accounts Receivable July 2 Supplies July 3 Accounts Payable July 3 Unearned Service Revenue July 6 4 Common Stock July 9 - Retained Earnings July 10 - Prepare an adjusted trial balance. FLOUNDER COMPUTER CONSULTANTS Trial Balances Debit Credit compreensive room VERS ASSOSSIL Fidyer Income Statement 164) Prepare a retained earning statement for July. FLOUNDER COMPUTER CONSULTANTS Retained Earnings Statement (83) Prepare a classified balance sheet at July 31. (List Current Assets in order of liquidity) FLOUNDER COMPUTER CONSULTANTS Balance Sheet Assets Liabilities and Stockholders' Equity k to close is talOption-click to close a se at July 31. Septione FLOUNDER COMPUTER CONSULTANTS Post-Closing Trial Balance Debit Credit