70.2K

Verified Solution

Link Copied!

Manny Gill is an entrepreneur who started West Secure, a business that provides a number of security guard services. West Secure incurred the following transactions during July 2023, its first month of operations: July 1 The owiner, Manny Gi11, Invested $4,000 cash. 10 Purchased $1, see worth of security equipnent on credit. 12 Performed security services for a sold-out concert and received $12, eee cash fron the client. 14 Paid for expenses; $2,500. 15 Completed security servlces for a groduation event and sent the client bill for $1,099. 31 The owner lithdrew 5150 cash for personal use. Required: 2. Record the journal entries for the month of July. Note: Enter debits before credits. 1 \& 3. Post the July Journal entrles into your general ledger accounts. Include the date next to each number posted. Determine the balances. 4. Prepare a trlal balance using the balances in your general ledger accounts 5. Prepare an income statement, statement of changes in equity, and balance sheet based on your trial balance. \begin{tabular}{|l|l|l|} \hline \multicolumn{2}{|c|}{ WEST SECURE } \\ \hline \multicolumn{2}{|c|}{ Statement of Changes in Equity } \\ \hline For Month Ended July 31,2023 \\ \hline Manny Gill, capital, July 1 & & \\ \hline Total & & \\ \hline Manny Gill, capital, July 31 & & \\ \hline \end{tabular} Manny Gill, capital, July 31

Answer & Explanation Solved by verified expert

See Answer