At June 30, 2022, the end of its most recent fiscal year, Bramble Computer Consultants post-closing trial balance was as follows: Debit Credit Cash $4080 Accounts receivable 940 540 $310 Supplies Accounts payable Unearned service revenue Owner's capital 870 4,380 $5,560 $5,560 The company underwent a major expansion in July. New staff was hired and more financing was obtained. Bramble conducted the following transactions during July 2022, and adjusts its accounts monthly. July 1 2 3 3 6 9 10 13 Purchased equipment paying $3,600 cash and signing a 2-year note payable for $15,600. The equipment has a 4- year useful life. The nate has a 6% interest rate which is payable on the first day of each following month. Owner invested $39.000 cash in the company Paid $3,000 cash for a 12-month insurance policy effective July 1. Paid the first 2 July and August 2022) months' rent for an annual lease of office space for $3,100 per month Paid $3,000 for supplies. Visited dient offices and agreed on the terms of a consulting project. Bramble will bill the client, Connor Productions, on the 20th of each month for services performed. Collected $940 cash on account from Milani Brothers. This client was billed in June when Bramble performed the service. Performed services for Fitzgerald Enterprises. This client paid $270 in advance last month. All services relating to this payment are now completed. Paid $310 cash for a utility bill. This related to June utilities that were accrued at the end of June. Met with a new client, Thunder Bay Technologies. Received $9,400 cash in advance for future services to be performed Paid semi-monthly salaries for $2,600. Performed services worth $21,800 on account and billed customers. Received a bill for $1,700 for advertising services received during July. The amount is not due until August 15. Performed the first phase of the project for Thunder Bay Technologies. Recognized $7,800 of revenue from the cash advance received July 16. Received $11,700 cash from customers billed on July 20. 14 16 18 20 20 23 27 Adjustment data: 1. 2. Adjustment of prepaid insurance. Adjustment of prepaid rent. Supplies used. $1,000 3. 4. 5. Equipment depreciation, $400 per month. Accrual of interest on note payable. Salaries for the second half of July $4,600, to be paid on August 1. Estimated utilities expense for July, $620 (invoice will be received in August). 6. 7. Date Account Titles and Explanation Debit Credit July 31 (To Close revenue account) July 31 (To close expense accounts) July 31 Ta cinc net income tantas date and zero for the amount rosternes in the order orjourdrentes presented Cash July 1 Bal 3.600 4,000 July 1 39,000 July 3 3.000 July 2 July 10 6.200 940 July 3 9,400 July 6 July 16 3.000 July 27 11.700 July 14 310 July 18 8.600 July 31 Bal 40,410 Accounts Receivable July 1 Bal 940 940 July 10 21,800 July 27 July 20 11.700 July 31 Bal. 10.100 Prepaid Insurance July 3 3.000 July 31 250 July 31 Bal 2.750 Supplies July 1 Bal. 540 July 31 1.000 July 3.000 July 31 Bal. 2.540 Prepaid Rent July 3 6.200 July 31 3.100 July 31 Bal. 3.100 Equipment July 1 19,200 July 31 Bal. 19 200 Accumulated Depreciation Equipment July 31 400 July 31 Bal. 400 Accounts Payable July 14 310 July 1 Bal 310 July 20 1.700 July 31 420 July 31 Bal. 2.320 Interest Payable July 31 78 July 31 Bal. 78 Salaries and Wages Payable July 31 8.600 July 31 Bal. 8.600 Unearned Service Revenue 870 July 1 Bal. 870 July 13 July 23 7,800 July 16 9,400 July 31 Bal. 1.600 Notes Payable July 1 15,600 July 31 Bal. 15.600 Owner's Capital July 1 Bal 4,390 July 2 39.000 V Service Revenue July 13 870 July 20 21.800 July 23 7,800 Salaries and Wages Expense July 18 8.600 V July 31 8.600 V Rent Expense July 31 3,100 V Advertising Expense July 20 1.700 Supplies Expense July 31 1.000 Utilities Expense July 31 420 V Depreciation Expense July 31 400 Insurance Expense July 31 250 V Interest Expense July 31 78 Income Summary KIKI X Your answer is incorrect Prepare a post-closing trial balance at July 31. BRAMBLE COMPUTER CONSULTANTS Post-Closing Trial Balance Debit Ol0000
