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Analyzing transactions and preparing financial statements Rivera Roofing Company, owned by Reyna Rivera, began operations in July and completed these transactions during that first month
Analyzing transactions and preparing financial statements Rivera Roofing Company, owned by Reyna Rivera, began operations in July and completed these transactions during that first month of operations July 1 Reyna Rive ra invested $80,000 cash in the company in exchange for its common stock. 2 The company rented office space and paid $700 cash for the July rent 3 The company purchased roofing equipment for $5,000 by paying $1,000 cash and agreeing to pay the $4,000 balance as a note payable in 120 days 6 The company purchased office supplies for $600 cash. 8 The company completed work for a customer and immediately collected $7,600 cash for the work. 10 The company purchased $2,300 of office equipment on credit. 15 The company completed work for a customer on credit in the amount of $8,200. 17 The company purchased $3,100 of office supplies on credit. 23 The company paid $2,300 cash for the office equipment purchased on July 10. 25 The company billed a customer $5,000 for work completed; the balance is due in 30 days 28 The company received $8,200 cash for the work completed on July 15 30 The company paid an assistant's salary of $1,560 cash for this month 31 The company had gains of $295 for selling an old equipment. 31 The company paid $1,800 cash in dividends to the owner (sole shareholder) i Post each journal entry to their respective General Ledger Account (0.5 point) ii. Close each General Ledger Account, and transfer their balances to Rivera Roofing Company's unadjusted Trial Balance for (1 point) ili. Prepare Rivera Roofing Company's income statement (Single-step) and the statement of retained eamings for the month of July (0.5 point) iv. Prepare Rivera Roofing Company's balance sheet July 31st. (0.5 point)
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