(a) Enter the Huly 1 balances in the ledger accounts (use t-accounts)
b) Journalize the July transactions.
(c) Post to the ledger accounts. (see photo for list of accounts)
(d) Prepare a trial balance at July 31.
(e) Journalize and post adjusting entries.
(f) Prepare an adjusted trial balance.
(h) Journalize and post closing entries and complete the closing process.(g) Prepare an income statement and a retained earnings statement for july and a classified balance sheet at july 31.
(i) Prepare a post-closing trial balance at july 31.
At June 30, 2022, the end of its most recent fiscal year, Cheyenne Computer Consultants post-closing trial balance was as follows: Debit Credit Cash $4.290 Accounts receivable 980 Supplies Accounts payable $330 Unearned service revenue 920 Common stock 3,000 Retained earnings 1.590 $5,840 $5.840 570 The company underwent a major expansion in July. New statt was hired and more financing was obtained Cheyenne conducted the following transactions during July 2022, and adjusts its accounts monthly July 1 Purchased equipment, paying $2 800 cash and signing a 2 year note payable for $16,400. The equipment has a 4. year useful life. The note has a 6% interest rate which is payable on the first day of each following month Issued 16,400 shares of common stock for $41,000 cash 3 Paid $3,000 cash for a 12-month insurance policy effective July 1. Pald the first 2 Ouly and August 2022) months' rent for an annual lease of office space for $3,300 per month Paid $3,100 for supplies Visited client offices and agreed on the terms of a consulting project. Cheyenne will bill the client, Connor Productions on the 20th of each month for services performed 2 3 6 9 collected to each an account foam. Min Rether This client waxhilled in line when Chewanne nerformed the At June 30, 2022, the end of its most recent fiscal year, Cheyenne Computer Consultants post-closing trial balance was as follows: Debit Credit Cash $4.290 Accounts receivable 980 Supplies Accounts payable $330 Unearned service revenue 920 Common stock 3,000 Retained earnings 1.590 $5,840 $5.840 570 The company underwent a major expansion in July. New statt was hired and more financing was obtained Cheyenne conducted the following transactions during July 2022, and adjusts its accounts monthly July 1 Purchased equipment, paying $2 800 cash and signing a 2 year note payable for $16,400. The equipment has a 4. year useful life. The note has a 6% interest rate which is payable on the first day of each following month Issued 16,400 shares of common stock for $41,000 cash 3 Paid $3,000 cash for a 12-month insurance policy effective July 1. Pald the first 2 Ouly and August 2022) months' rent for an annual lease of office space for $3,300 per month Paid $3,100 for supplies Visited client offices and agreed on the terms of a consulting project. Cheyenne will bill the client, Connor Productions on the 20th of each month for services performed 2 3 6 9 collected to each an account foam. Min Rether This client waxhilled in line when Chewanne nerformed the
