ACTIOI Applied Accounting Quickbooks Computer Problems H. Clinton started a hair saion called Hillary's Doos In December of 2015, she rented a small comer suite in the 101 Cash local mall and hired a shop girl to help with the customers 104 Accounts Receivable Her chart of accounts is as pictured on the right Assets: 402 Salon 110 Prepaid Rent Required 1: Using Quickbooks accouning software.131 Salon Supples RESTORENOPEN HWary's Doos. After compary is open, e 511 Wages Expense 516 Rent Expense TO personalize the company name, go to the Company link at the top of your screen and then scrol ies down to Company Information. Place your cursor at 190 20 Saln Supples E 202 Accounts the end of the company name and add your name. Cick OK to store the changes 530 Uites Experse H Cinton, Capital Enter the following transactions for the first three months 312 H of business for Hillary's Doos: (Click Accountant on the main menu Make General Journal Entries. Remember to change your date for each transaction!) . Dec 1 Hillary invested cash in the business, $30,000 2 Purchased Salon Equipment for $6,000. Paid $3,000 immediately but put the rest on account (n Name feid- 5 7 9 11 Use the Equipment Store listed) Purchased salon supplies for cash, $500 Purchased a six-month insurance policy for $1,200 Prepaid 3 months rent in advance, $1,500 Paid an additional $550 on the salon equipment purchased earlier. (In Name field-Use the Equipment Store) 14 Salon revenue received during the week was, $3,500 16 Paid the telephone bill, $45 Received the cher utilty bills for water and electric, $420. These are due next month. (hint-Accts Pay) (in Name field-Use the Utilities Co.) 20 21 Salon revenue received during the week was, $2,100. 23 Received the advertising bill, $90, it is due in 30 days. (In Name field-Use the Newspaper listed) 25 Paid the part-time worker, $280 30 Hillary withdrew $80 for a "night out with friends Reg? Print the Trial Balance as of 12/31/15. (Cick Beports on the main menu ? Accountant and Taxes ? Trial Balance to display the report but be sure to change date.) (check figures: Cashe $28,445 Salon Revenue $5,600 and totals $38,560) Rea #3 nal entries required forthe following . Hint (enter the adjusting journal Make the necessary adjusting lo entries in the general journal and making sure to make to number your adjustments and check the adjusting entry box (Click Accountant on the main menu Make General Journal Entries. Remember to use Dec 31 for all adjustments) Adj 1) Make adjustment for the one month of insurance that has expired Adj 2) Make adjustment for the one month of rent which has expired Adj 3) Supplies on hand at the end of the month equal $75. Adj 4) Depreciation on the Salon equipment equals $100. Adj 5) Wages owed to the part-time worker are $75. These are due to be paid next week. Reg,#5: Print the Income statement for the period 12/1-12/31 (check figure Net income-$3,465) Reg #6: Print the Balance Sheet as of December 31 (Total assets-$36,420) Reg. #7 Print Print a new trial balance and using a pencil, write 'ADJUSTED before the title. (Totals $38,735) the General joumal containing all of your journal entries
