PLEASE SOLVE TRIAL BALANCE AND ADJUSTED ONLY $!!!!$

Jeffrey Dulow began professional practice as consulting system analyst on January $1.$ The firm was called Spartan Consulting. During January, the owner completed these transactions:

Monthly Entries:

January $1.$ Owner invested $500,000$

January $1.$ Formal Wear paid Spartan up front fees of $25,000$ for work that will be completed over the next $10$ months on the firm's infrastructure.

January $1.$ The firm borrowed an additional $100,000$ as a notes payable at a rate of $12\%.$

January $1.$ Prepaid insurance of $1,200$ for the year related to the automobile the firm purchased.

January $1.$ The firm bought an automobile, Jaguar X type for $30,000$ to use as a company car. No Salvage Value.

January $1.$ The firm bought $25,000$ worth of supplies on account.

January $2.$ The firm paid $15,000$ cash for the rent of office space for the month.

January $4.$ The firm purchased equipment for $120,000$ on account. No Salvage Value

January $8.$ Completed a work for a client and immediately collected the $32,000$ in cash for the fees.

January $10.$ Completed work for a client James Co$.$ and sent a bill for $27,000$ to be paid within $30$ days.

January $12.$ The firm purchased computers for $8,000$ in cash. The computers will have a $500$ dollar salvage value.

January $15.$ The firm paid an assistant, at the firm, $6,200$ cash as wages for $15$ days.

January $18.$ Collected $15,000$ on the amount owed by the client James Co$.,.$

January $25.$ Paid $12,000$ cash to settle some of the liability on the equipment purchased.

January $28.$ Owner withdrew $500$ cash for personal use.

January $30.$ Completed work for another client who paid $40,000$ for the system design.

January $31.$ The firm paid portion of the officer manager's salary of $700.$

January $31.$ The firm received utility bills from Verizon, $1,800$ and New Jersey Natural Gas bill $3,800.$ Secondly they paid the electric bill of $1,300$ to First Energy for the month. Spartan records all these transactions as utilities.

January $31.$ Bought $1500$ shares of Microsoft trading at $140$ per share there was no change in the price at the end of the trading day.

January $31$ Estimated the firm's tax provision for the month was $14,200$

January $31.$ Lent $150,000$ as a note receivable with a rate of $15\%$ to a business where Dulow was a silent partner

Adjusting Entries January $31{?}^{st}$ :

Spartan performed one month of service on Formal Wear's infrastructure.

Recorded one mormorimetestactuas $10140$ in $0$ tes Payable

Recorded one month of interest accruals for the Notes Payable received on January $1^{st}.$

At the end of the month supplies were $10,000$

Recorded the one month of insurance that expired

The automobile has a life of $5$ years $(60$ months$)$ and was depreciated using the straight line

The equipment uses the double declining method for $4$ years divide your result by $12$ to get the monthly accrual.

The computers will depreciate over $5$ years $(60$ months$)$ and have a salvage value of $$500.$ Spartan will use the straight line depreciation.

Spartan feels $1\%$ of the remaining outstanding account receivables will not be collected.

$8$:$04$

$5$G

$55$

Journal PLEASE SOLVE TRIAL BALANCE AND ADJUSTED ONLY $!!!!$

Jeffrey Dulow began professional practice as consulting system analyst on January $1.$ The firm was called Spartan Consulting. During January, the owner completed these transactions:

Monthly Entries:

January $1.$ Owner invested $500,000$

January $1.$ Formal Wear paid Spartan up front fees of $25,000$ for work that will be completed over the next $10$ months on the firm's infrastructure.

January $1.$ The firm borrowed an additional $100,000$ as a notes payable at a rate of $12\%.$

January $1.$ Prepaid insurance of $1,200$ for the year related to the automobile the firm purchased.

January $1.$ The firm bought an automobile, Jaguar X type for $30,000$ to use as a company car. No Salvage Value.

January $1.$ The firm bought $25,000$ worth of supplies on account.

January $2.$ The firm paid $15,000$ cash for the rent of office space for the month.

January $4.$ The firm purchased equipment for $120,000$ on account. No Salvage Value

January $8.$ Completed a work for a client and immediately collected the $32,000$ in cash for the fees.

January $10.$ Completed work for a client James Co$.$ and sent a bill for $27,000$ to be paid within $30$ days.

January $12.$ The firm purchased computers for $8,000$ in cash. The computers will have a $500$ dollar salvage value.

January $15.$ The firm paid an assistant, at the firm, $6,200$ cash as wages for $15$ days.

January $18.$ Collected $15,000$ on the amount owed by the client James Co$.,.$

January $25.$ Paid $12,000$ cash to settle some of the liability on the equipment purchased.

January $28.$ Owner withdrew $500$ cash for personal use.

January $30.$ Completed work for another client who paid $40,000$ for the system design.

January $31.$ The firm paid portion of the officer manager's salary of $700.$

January $31.$ The firm received utility bills from Verizon, $1,800$ and New Jersey Natural Gas bill $3,800.$ Secondly they paid the electric bill of $1,300$ to First Energy for the month. Spartan records all these transactions as utilities.

January $31.$ Bought $1500$ shares of Microsoft trading at $140$ per share there was no change in the price at the end of the trading day.

January $31$ Estimated the firm's tax provision for the month was $14,200$

January $31.$ Lent $150,000$ as a note receivable with a rate of $15\%$ to a business where Dulow was a silent partner

Adjusting Entries January $31{?}^{st}$ :

Spartan performed one month of service on Formal Wear's infrastructure.

Recorded one mormorimetestactuas $10140$ in $0$ tes Payable

Recorded one month of interest accruals for the Notes Payable received on January $1^{st}.$

At the end of the month supplies were $10,000$

Recorded the one month of insurance that expired

The automobile has a life of $5$ years $(60$ months$)$ and was depreciated using the straight line

The equipment uses the double declining method for $4$ years divide your result by $12$ to get the monthly accrual.

The computers will depreciate over $5$ years $(60$ months$)$ and have a salvage value of $$500.$ Spartan will use the straight line depreciation.

Spartan feels $1\%$ of the remaining outstanding account receivables will not be collected.

$8$:$04$

$5$G

$55$

Journal