The following events occurred in July: 7/1 Amos receives a bill from you, his accountant in the

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The following events occurred in July:

7/1 Amos receives a bill from you, his accountant in the amount of $2,000 (terms 3/10, n/30). The accounting expenses should be expensed in the month that it applies – in this case, June. Therefore, record the transaction and date it to June 30.

7/2 Amos receives bills for the following: telephone - $250; water - $45; electricity - $175; cell phone - $100. The telephone and cell phone bills are payable to TeleCom Telephone Company. The water and utility bills are payable to Max Power Utilities. These expenses also belong to the month of June.

7/2 Amos pays Better Grounds Wholesale Supply in full by issuing check #1007.

7/2 Amos pays Git ‘n GO in full (Check #1008).

7/3 Amos has a push lawnmower that he transferred to the business in exchange for 500 shares of common stock. The lawnmower has a fair value of $1,500.

7/11 Amos performs lawn care services as agreed for Don Notting.

7/15 Amos paid the telephone, cell phone, water and electricity bills in full (Check #’s 1009 and 1010, respectively).

7/16 Amos pays Pig E Banks the first payment on the loan of $45,000 (ck # 1011).

7/18 Amos performs lawn care services for $2,000 on account for a new customer named Luke Warn (term n/30).

7/18 Amos sells 10 bags of weed killer and 15 bags of fertilizer for cash to Iphelia Pain. Amos is required to charge a 5% sales tax that is payable to HOGG Department of Revenue.

7/20 Amos pays you for the services you provided in June (Ch# 1012).

7/30 Amos receives and pays a $1,200 bill (ck # 1013) for the purchase of a one-year liability insurance policy. The policy coverage takes effect on August 1.

7/30 Compute and accrue the interest expense on the Pig E Banknote. You will have to accrue the interest that has accrued from 7/17 – 7/31.

Note: See the first two events for August before preparing the trial balance for July. Record these as adjusting entries on July 30.

The following events occurred in August:

8/1 Amos receives a bill from you, his accountant in the amount of $2,500 (terms 3/10, n/30). This invoice is for services performed for the month of July.

8/2 Amos receives the following bills related to telephone and utilities used in the month of July: telephone $150, cell phone $150, water $35, and electricity $275.

8/3 Amos remits the sales tax (CK # 1014) to the HOGG Department of Revenue.

8/7 Amos performed lawn care services for Don Notting as contracted.

8/9 Amos pays you, his accountant, for July services (CK # 1015).

8/10 Amos receives payment from Luke Warn in full payment for services provided in July.

8/12 Amos pays the telephone, cell phone, water, and electric bills (cks # 1016 and #1017).

8/16 Amos makes his second payment on the $45,000 loan (Ck # 1018).

8/20 Amos treats you to breakfast at The Daily Grind Coffee Shop for a total cost of $25. Amos paid this out of petty cash.

8/24 Amos performs lawn care services for Iona Frisbee for $200 cash.

8/24 Amos secures a contract with Barren View Golf Club for $5,000 per month. Due to this increase in business, Amos hires a part-time employee, Joe Slowe. Amos will pay Joe $10/hour.

8/25 Amos performs the services for the month of August at Barren View Golf Club. He contacts you and asks you to send an invoice for $5,000 for the services. Additionally, he needs you to add 50 bags of fertilizer and 25 bags of weed killer to the invoice. Amos tells you to set the terms 2/10, n/30. Don’t forget to charge sales taxes on the products sold. (Round to the nearest dollar).

8/30 Amos’ pays $125.00 in cash to HOGG Department of Revenue for an Occupational License for his business. Amos uses his petty cash to make this payment.

8/30 Amos asks you to issue check #1019 to Joe Slowe for the net amount owed him for the time that he worked this past week.

Joe worked 20 hours. Amos is required to withhold the following from Joe’s pay: federal income taxes at a rate of 15%, state income taxes at a rate of 6%, and FICA taxes at a rate of 7.65%. (Round to the nearest dollar).

You must also record a journal entry for the employer’s payroll taxes. This includes FICA tax of 7.65% and Federal Unemployment Insurance of 6.00%.

8/30 Amos receives an invoice from you, his accountant in the amount of $1,500 (terms 3/10, n/30). This is for services for the month of August.

8/30 Amos receives a bill from TeleCom Telephone in the amount of $220 and one from Max Power Utilities in the amount of $200. These bills relate to the month of August.

8/30 Compute and accrue the interest expense on the Pig E Banknote. You will have to accrue the interest that has accrued from 7/17 – 8/31.

8/30 Record the following year-end adjusting entries

A. Depreciation for all Property, Plant and Equipment. Information related to all assets is shown in the table below:

Equipment	Life	Method	Salvage Value
Riding Mower	5 years	Straight-line	$500
Push Mower	3 years	Straight-line	$350
Weed Wacker	3 years	Straight-line	$ 0
Truck	7 years	Straight-line	$1,500
Trailer	5 years	Straight-line	$500
Moses Ground Maintenance records a full month of depreciation in the month an asset is acquired and/or disposed of. Round all depreciation amounts to the nearest dollar.

B. Current portion of the Long-Term Note Payable to Pig E. Bank. Hint: Transfer 12 months of principle from Long-Term Note Payable to the Current Maturities of Long-Term Debt.

C. Expense the portion of the Prepaid Insurance policies that have expired.

In proper General Journal format, record the transactions for the month; include brief descriptions of each transaction with your journal entry.

Post the journal entries for the month to the general ledger accounts.

Prepare a trial balance at the end of the month.