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12000 H 450 C D E F 22 17 From a cash clients, you received cash after providing some consultation 23 18 You paid by your business debit card to purchase some supplies 24 20 Sent invoice #006 to a customer for the service provided during last few days 25 24 From a cash clients, you received cash after providing some consultation 26 26 Received cash from clients on account 27 27 Paid your receptionist for two weeks' salary 28 29 Received and paid telephone bill for July (Ch#007) 29 31 Received and paid electricity bill for July (Ch#008) 30 31 From a cash clients, you received cash after providing some consultation 31 31 Sent invoice #007 to a customer for the service provided during last few days 32 31 Declared and paid dividends (Ch#009) 600 6600 200 12000 1750 300 600 150 3000 1500 1 Instructions: Record the transactions & Post to the General Ledger accounts. 2 Prepare Bank Reconciliation and post the necessery General Journal Entries. 3 Prepare a worksheet with unadjusted trial balances in it. At the end of July analyze and use these data to complete month-end adjustments. Supply on hand.............. Record adjustments to Insurance, Rent and Equipment Depreciation Accrual receptionist salary on July 31st for one day. Unearned fees as of July 31 ....... 4 Journalize and post adjusting entries after completing the worksheet 5 Prepare an Income Statement, a Retained Earnings Statement, and a Balance Sheet 6 Prepare, record, and post closing entries. 175 2750 44 H 13500 20800 3200 7500 G Your new firm entered into the following transactions starting July 1st, 2016 -Jul Following assets were received from you in exchange for 1000 shares of common stock: Cash A/R Supplies Use straight line of Depreciation Office Equipment Office Equipment useful life: Years Residual Value: 320.00 1 The firm paid 2 months' rent for a office space lease contract. 2 Paid one year insurance policy premium in advance 4 Received advance cash from a new clients for future services 5 Purchased additional office equipment on account from Office Depot 6 Received cash from clients on account 10 Paid cash for a local newspaper advertisement 12 Paid Office Depot for part of equipment purchased on account 12 Sent invoice #005 to a customer for 90 hrs consultation provided recently 14 Paid your receptionist for two weeks' salary 17 From a cash clients, you received cash after providing some consultation 18 You paid by your business debit card to purchase some supplies 20 Sent invoice #006 to a customer for the service provided during last few days 24 From a cash clients, you received cash after providing some consultation 26 Received cash from clients on account 27 Paid your receptionist for two weeks' salary 5000 4500 5500 6500 20800 400 5200 13500 1750 450 600 6600 200 12000 1750 D E F G H I JI ORCHID COMPANY UNADJASTED TRIAL BALANCE JULY-31-2014 CREDIT DEBIT Cash 52600 Accounts Recivable 43900 Office Equipment 14000 Prepaid Rent 5500 PrePaid Insurance 4500 Advertisment Expense 400 Salaries Expense 3500 Service Revenue Bank Common Stock Reatined Earnings(Bal fig) 124400 44700 3000 73800 2900 124400 . 5000 corporation starting July 2010. YOU STIUT UNTOUSE M NAWIL CONSULTING Your new firm entered into the following transactions starting July 1st, 2016 1-Jul Following assets were received from you in exchange for 1000 shares of common stock: Cash 1 3500 R A/ 20800 Supplies 3200 Use straight line of Depreciation Office Equipment 7500 Office Equipment useful life: Years Residual Value: 320.00 1 The firm paid 2 months' rent for a office space lease contract. 2 Paid one year insurance policy premium in advance 4500 4 Received advance cash from a new clients for future services 5500 5 Purchased additional office equipment on account from Office Depot 6500 6 Received cash from clients on account 20800 10 Paid cash for a local newspaper advertisement 400 12 Paid Office Deport for part of equipment purchased on account 5200 12 Sent invoice #005 to a customer for 90 hrs consultation provided recently 13500 14 Paid your receptionist for two weeks' salary 1750 17 From a cash clients, you received cash after providing some consultation 450 18 You paid by your business debit card to purchase some supplies 6600 20 Sent invoice #006 to a customer for the service provided during last few days 24 From a cash clients, you received cash after providing some consultation 12000 be p ued each from clients on account 600 200 A B C D E 1750 300 27 Paid your receptionist for two weeks' salary 29 Received and paid telephone bill for July (Ch# 007) 31 Received and paid electricity bill for July (Ch# 008) 31 From a cash clients, you received cash after providing some consultation 31 Sent invoice #007 to a customer for the service provided during last few days 31 Declared and paid dividends (Ch# 009) 600 150 3000 1500 1525 1 Instructions: Record the transactions & Post to the General Ledger accounts. 2 Prepare Bank Reconciliation and post the necessery General Journal Entries. 3 Prepare a worksheet with unadjusted trial balances in it. At the end of July analyze and use these data to complete month-end adjustments. Supply on hand.. . ....... $ Record adjustments to Insurance, Rent and Equipment Depreciation Accrual receptionist salary on July 31st for one day. Unearned fees as of July 31 ... 4 Journalize and post adjusting entries after completing the worksheet 5 Prepare an Income Statement, a Retained Earnings Statement, and a Balance Sheet 6 Prepare, record, and post closing entries. 7 Prepare a Post-closing Trial Balance. 8 Write a Memorandum to your bank in regards to profitability of your new corporation 175 2750 Formating as CREDIT D C E F G H I J ORCHID COMPANY UNADJASTED TRIAL BALANCE JULY-31-2014 CREDIT Cash Accounts Recivable Office Equipment Prepaid Rent PrePaid Insurance Advertisment Expense Salaries Expense Service Revenue Bank Common Stock Reatined Earnings(Bal fig) DEBIT 52600 43900 14000 5500 4500 400 3500 44700 3000 73800 2900 124400 124400 12000 H 450 C D E F 22 17 From a cash clients, you received cash after providing some consultation 23 18 You paid by your business debit card to purchase some supplies 24 20 Sent invoice #006 to a customer for the service provided during last few days 25 24 From a cash clients, you received cash after providing some consultation 26 26 Received cash from clients on account 27 27 Paid your receptionist for two weeks' salary 28 29 Received and paid telephone bill for July (Ch#007) 29 31 Received and paid electricity bill for July (Ch#008) 30 31 From a cash clients, you received cash after providing some consultation 31 31 Sent invoice #007 to a customer for the service provided during last few days 32 31 Declared and paid dividends (Ch#009) 600 6600 200 12000 1750 300 600 150 3000 1500 1 Instructions: Record the transactions & Post to the General Ledger accounts. 2 Prepare Bank Reconciliation and post the necessery General Journal Entries. 3 Prepare a worksheet with unadjusted trial balances in it. At the end of July analyze and use these data to complete month-end adjustments. Supply on hand.............. Record adjustments to Insurance, Rent and Equipment Depreciation Accrual receptionist salary on July 31st for one day. Unearned fees as of July 31 ....... 4 Journalize and post adjusting entries after completing the worksheet 5 Prepare an Income Statement, a Retained Earnings Statement, and a Balance Sheet 6 Prepare, record, and post closing entries. 175 2750 44 H 13500 20800 3200 7500 G Your new firm entered into the following transactions starting July 1st, 2016 -Jul Following assets were received from you in exchange for 1000 shares of common stock: Cash A/R Supplies Use straight line of Depreciation Office Equipment Office Equipment useful life: Years Residual Value: 320.00 1 The firm paid 2 months' rent for a office space lease contract. 2 Paid one year insurance policy premium in advance 4 Received advance cash from a new clients for future services 5 Purchased additional office equipment on account from Office Depot 6 Received cash from clients on account 10 Paid cash for a local newspaper advertisement 12 Paid Office Depot for part of equipment purchased on account 12 Sent invoice #005 to a customer for 90 hrs consultation provided recently 14 Paid your receptionist for two weeks' salary 17 From a cash clients, you received cash after providing some consultation 18 You paid by your business debit card to purchase some supplies 20 Sent invoice #006 to a customer for the service provided during last few days 24 From a cash clients, you received cash after providing some consultation 26 Received cash from clients on account 27 Paid your receptionist for two weeks' salary 5000 4500 5500 6500 20800 400 5200 13500 1750 450 600 6600 200 12000 1750 D E F G H I JI ORCHID COMPANY UNADJASTED TRIAL BALANCE JULY-31-2014 CREDIT DEBIT Cash 52600 Accounts Recivable 43900 Office Equipment 14000 Prepaid Rent 5500 PrePaid Insurance 4500 Advertisment Expense 400 Salaries Expense 3500 Service Revenue Bank Common Stock Reatined Earnings(Bal fig) 124400 44700 3000 73800 2900 124400 . 5000 corporation starting July 2010. YOU STIUT UNTOUSE M NAWIL CONSULTING Your new firm entered into the following transactions starting July 1st, 2016 1-Jul Following assets were received from you in exchange for 1000 shares of common stock: Cash 1 3500 R A/ 20800 Supplies 3200 Use straight line of Depreciation Office Equipment 7500 Office Equipment useful life: Years Residual Value: 320.00 1 The firm paid 2 months' rent for a office space lease contract. 2 Paid one year insurance policy premium in advance 4500 4 Received advance cash from a new clients for future services 5500 5 Purchased additional office equipment on account from Office Depot 6500 6 Received cash from clients on account 20800 10 Paid cash for a local newspaper advertisement 400 12 Paid Office Deport for part of equipment purchased on account 5200 12 Sent invoice #005 to a customer for 90 hrs consultation provided recently 13500 14 Paid your receptionist for two weeks' salary 1750 17 From a cash clients, you received cash after providing some consultation 450 18 You paid by your business debit card to purchase some supplies 6600 20 Sent invoice #006 to a customer for the service provided during last few days 24 From a cash clients, you received cash after providing some consultation 12000 be p ued each from clients on account 600 200 A B C D E 1750 300 27 Paid your receptionist for two weeks' salary 29 Received and paid telephone bill for July (Ch# 007) 31 Received and paid electricity bill for July (Ch# 008) 31 From a cash clients, you received cash after providing some consultation 31 Sent invoice #007 to a customer for the service provided during last few days 31 Declared and paid dividends (Ch# 009) 600 150 3000 1500 1525 1 Instructions: Record the transactions & Post to the General Ledger accounts. 2 Prepare Bank Reconciliation and post the necessery General Journal Entries. 3 Prepare a worksheet with unadjusted trial balances in it. At the end of July analyze and use these data to complete month-end adjustments. Supply on hand.. . ....... $ Record adjustments to Insurance, Rent and Equipment Depreciation Accrual receptionist salary on July 31st for one day. Unearned fees as of July 31 ... 4 Journalize and post adjusting entries after completing the worksheet 5 Prepare an Income Statement, a Retained Earnings Statement, and a Balance Sheet 6 Prepare, record, and post closing entries. 7 Prepare a Post-closing Trial Balance. 8 Write a Memorandum to your bank in regards to profitability of your new corporation 175 2750 Formating as CREDIT D C E F G H I J ORCHID COMPANY UNADJASTED TRIAL BALANCE JULY-31-2014 CREDIT Cash Accounts Recivable Office Equipment Prepaid Rent PrePaid Insurance Advertisment Expense Salaries Expense Service Revenue Bank Common Stock Reatined Earnings(Bal fig) DEBIT 52600 43900 14000 5500 4500 400 3500 44700 3000 73800 2900 124400 124400

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