20301 Mini Practice Set Rich's Accounting Service Trial Balance Cr This comprehensive review problem requires you to complete the accounting cycle for Rich's Accounting Service twice. This practice set allows you to review Chapters 1 - 6 while reinforcing the relationships between all parts of the accounting cycle. By completing two cycles, you will see how the ending June balances in the ledger are used to accumulate data in July Rich's Accounting Service Chart of Accounts Dr ASSETS OWNER'S EQUITY EXPENSES. Continued 111 112 311 312 313 Rich Capital Rich Drawing income Summary 513 514 515 114 Income Statement Cr_ 115 516 Cach Accounts Receivable Prepaid Rent Office Supplies Office Equipment Accumulated Depreciation Automobile Accumulated Depreciation FG 121 122 123 124 517 Gasoline Expense Repairs Expense Telephone Expense Advertising Expense Office Supplies Expense Depreciation Expense - Office Equipment Depreciation Expense - Automobile Miscellaneous Expense Office Equipment REVENUE 518 519 524 Automobile 411 Accounting Service Fees LIABILITIES EXPENSES Dr 211 212 Accounts Payable Salaries Payable 511 512 Rent Expense Salaries Expense On June 1, 201X, Rich opened an accounting services office called Rich's Accounting Service. The following transactions were completed for the month of June. June 1 June 1 June 1 June 4 June 5 June 6 June 8 June 12 June 18 June 20 June 21 June 22 June 25 June 264 June 27 June 29 June 29 Rich invested $19,000 cash in the business along with $6,000 of office equipment. Rented an office and paid three months rent in advance to Fredericks Property Management. Check H0001 - $4,500. Bought an automobile on account from Norm's Automotive, $27,000. Purchased office supplies from Office Depot on account, $400. Purchased additional office supplies from Office Depot. Pald cash, Check # 0002-575. Performed accounting Services for Jilian Kirby Collected $3,500 cash. Paid a gasoline bill to Arco. Check #0003 - $97. Paid Janice, office secretary, two weeks salary. Check #0004 - $2,000. Provided accounting services to Mindy's Dress Shop, S8,500. Payment to be received on July 9th. Rich withdrew $2,500 from the business to pay personal expenses. Check #0005 - $2,500. Performed accounting services for Caden, Inc.. Collected $2,500 cash. Paid a gasoline bill to Arco. Check #0006 - $96. Paid Norm's Automotive for automobile repairs. Check 70007 - 5625 Paid Janice, office secretary, two weeks salary. Check #0008 - $2,000. Provided accounting services to Sarah Company S7.500. Payment to be received on July 19th. Paid June telephone bill to Verizon. Check #0009 - $525. Received bill from The Daily Courier for June advertising, Bill is in the amount of $1,300 and is due July 3rd. REQUIRED WORK FOR JUNE Date 2017 tashou June | cash Journalize transactions and post to General Ledger Prepare a trial balance in the first two columns of a blank worksheet form. Complete the worksheet based on the following adjustment data: One month's rent Suso has expired