560000 2 The compary wented fumined office sakce by girying 93.200 inet for the trat more. 3 The cempany kurchised 12.400 of effict aupelen for canh. 10 The compary jatid 57200 for the preminm on a bes year intiance pelicy 14 The cwner's asistart mes paid 52600 for teg nethy' saley 29 The compery geid the montils 33 sog gnone bal 10 The coripary nepaired its comsoter for 1700 on account 30 The dwner witho ew 52,850 cash tom the busicess tor pessas use. The company's chart of acovants included these accounts: Required 1. Set up each of the listed accounts. Note: Your instructor will iell you to urse either the halance odumn format or T-acoounts 2. Prepare journal entries to record the transactions for June and post them to the acoounts 3. Use the following information io journalire and post the adjustments for the month: a. Two thinds of one month's insurance coverage was consumed. b. There wzre $1,600 of office supplies on hand at the end of the month. c. Depreciation on the computer equipment was estimated to be 51,650 and 5400 on the furmiture. d. The assistant had earned $320 of unpaid and unreconded salary. e. The company had earned $3,500 of eommissions that had not yet been billed. 4. Frepare an income statement, a statement of changes in equity, and a clasified balance sheet. 5. Prepare journal entries to close the temporary accounts and post them to the accounts. 6. Prepare a post-closing trial balance. 560000 2 The compary wented fumined office sakce by girying 93.200 inet for the trat more. 3 The cempany kurchised 12.400 of effict aupelen for canh. 10 The compary jatid 57200 for the preminm on a bes year intiance pelicy 14 The cwner's asistart mes paid 52600 for teg nethy' saley 29 The compery geid the montils 33 sog gnone bal 10 The coripary nepaired its comsoter for 1700 on account 30 The dwner witho ew 52,850 cash tom the busicess tor pessas use. The company's chart of acovants included these accounts: Required 1. Set up each of the listed accounts. Note: Your instructor will iell you to urse either the halance odumn format or T-acoounts 2. Prepare journal entries to record the transactions for June and post them to the acoounts 3. Use the following information io journalire and post the adjustments for the month: a. Two thinds of one month's insurance coverage was consumed. b. There wzre $1,600 of office supplies on hand at the end of the month. c. Depreciation on the computer equipment was estimated to be 51,650 and 5400 on the furmiture. d. The assistant had earned $320 of unpaid and unreconded salary. e. The company had earned $3,500 of eommissions that had not yet been billed. 4. Frepare an income statement, a statement of changes in equity, and a clasified balance sheet. 5. Prepare journal entries to close the temporary accounts and post them to the accounts. 6. Prepare a post-closing trial balance
