prepare general ledger sheet

Requirement #1:
During its first month of operation, the Quick Tax Corporation, which specializes in tax preparation,
completed the following transactions.
July 1	Began business by making a deposit in a company bank account of $60,000, in exchange
	for 6,000 shares of $10 par value common stock.
July 3	Paid the current month's rent, $3,500
July 5	Paid the premium on a 1-year insurance policy, $4,200
July 7	Purchased supplies on account from Little Company, $1,000.
July 10	Paid employee salaries, $3,500
July 14	Purchased equipment from Lake Company, $10,000. Paid $2,500 down and the balance was
	placed on account. Payments will be $500.00 per month until the equipment is paid. The first payment is due 8/1.
	Note: Use accounts payable for the balance due.
July 15	Received cash for preparing tax returns for the first half of July, $8,000
July 19	Made payment on account to Lake Company, $500.
July 31	Received cash for preparing tax returns for the last half of July, $9,000
July 31	Declared and paid cash dividends of $600.

This Sheet will be used for Requirements 2, 5, and 9.
Requirement #2:
Post the July journal entries to the following T-accounts and compute ending balances.
Cash (111)			Tax Preparation Revenue
Prepaid Insurance (117)			Rent Expense (511)
			Rent expense
Supplies (119)			Salaries Expense (512)
suplies expense
Equipment (144)			Insurance Expense (513)
supplies
Supplies Expense
Accumulated Depreciation-Equipment (145)			Supplies Expense (514)
Accounts Payable (212)			Depreciation Expense (515)
Income Tax Payable (213)			Income Tax Expense (516)
Common Stock (311)
			Retained Earnings (312)
Dividends (313
			Income Summary