This is for Chapter 4 HW: Question 4. please disregard the other instructions. Thats for question 5 on Chapter 4.

Instructions X For the past several years, Jolene Upton has operated a part-time consulting business from her home. As of July 1, 2019. Jolene decided to move to rented quarters and to operate the business, which was to be known as Gourmet Consulting, on a full-time basis. Gourmet Consulting entered into the following transactions during July Jut 1 1 2 4 The following assets were received from Jolene Upton: cash, 519,000, accounts receivable, $22,300, supplies, 53,800, and office equipment, 58,900. There were no labilities received Paid three months rent on a lease rental contract. 56,000 Paid the premiums on property and casualty insurance policies, 54 500 Received cash from clients as an advance payment for services to be provided and recorded it as unearned foes. $8.000 Purchased additional omice equipment on account from Office Necessites Co. 55.100 Received cash from clients on account $12.750 Paid cash for a newspaper advertisement $500 Paid Office Necessities Co for part of the debt incurred on July 5 $3.000 Provided services on account for the period July 1-12. $14. 200 Paid receptionist for two weeks salary, 51.500 55 10 # 5 day 12 12 14 Instructions Record the following transactions on Page 2 of the journal Jul 17 18 20 24 26 Received cash from cash clients for fees earned during the period July 1-17, 510,400 Paid cash for supplies, $1,000 Provided services on account for the period July 13-20, 59,000 Received cash from cash clients for fees earned for the period July 17-24, 58,500 Received cash from clients on account, $12,000 Paid receptionist for two weeks' salary, $1.500 Paid telephone bill for July 325. Paid electricity bill for July $675 Received cash from cash clients for fees earned for the period July 25-31. S7 100 7 27 29 31 31 31 Provided services on account for the remainder of July $5,500 Jolene withdrew 520,000 for personal use 31 Instructions Required: 1. Journalize each transaction in a two-column journal starting on Page , referring to the chart of accounts in selecting the accounts to be debited and credited (Do not insert the account numbers in the journal at this time) 2. Post the July transactions A Download the spreadsheet in the Ledger panel and save the Excel nie to your computer Use the spreadsheet to post the way transactions from the journal to a ledger of four column accounts Be sure to save your work in Excel as it will be used to complere the following steps in Part 1 of this problem as well as steps in Part 2 of this problem. Your input into the spreadsheet will not be included in your grade in CengageNOW on this problem B. Add the appropriate posting reference to the journal in CengageNow 3. Prepare an unadjusted trial balance 4. At the end of July, the following adustment data were assembled Analyze and use these data to complete requirements (3) and to Insurance expired during July 18 5375 Supplies on hand on July 31 are $2.850 Depreciation of office equipment for July is $400 Accrued receptionist salary on July 31 18 5:40 Rent expired during July is $2.000 Supplies on hand on July 31 are $2,850 Depreciation of office equipment for July is $400 Accrued receptionist salary on July 31 is 5140 Rent expired during July is $2.000 Unearned fees on July 31 are $3.000 5. (Options on your own paper or spreadsheet, enter the unadjusted trial balance on an end-of-period work sheet and complete the spreadsheet Find a blank end-of-period work sheet in the Excel spreadsheet you previously downloaded 6. A. Joumalize the adjusting entries on page 3 of the journal Adjusting entries are recorded on July 31 B. Use the attached Spreadsheet in the Ledger panel to post the adjusting entries to the ledger of four-column accounts, inserting balances to the accounts affected. Add the appropriate posting reference to the adjusting entries in the journal in CengageNOW 7. Prepare an adjusted to balance R O E 21 68F 2:2 312