began a restaurant consulting Name

THE RECORDING PROCESS

Task #$1$

began a restaurant consulting company. Below are events and transactions that occurred during the first month of operations.

$($a$)$ Prepare the necessary general journal entries. If no entry is needed put N$/$A$.$

$($b$)$ Post journal entries to the ledger accounts.

$($c$)$ Prepare the month end trial balance.

May $1$ invested $$43,000$ cash $to$ start a consulting business.

$2$ Hired a receptionist $at$ a salary $of$ $$1,500$ per month.

$3$ Purchased $$800of$ supplies, $on$ account, from Office Supply Company.

$7$ Paid office rent $of$ $$1,500$ for the month

$11$ Billed client $$1,900$ providing consulting services.

$12$ Received $$5,000$ advance $on$ a consulting engagement.

$17$ Received cash $of$ $$1,600$ for services completed for Mutter Company.

$31$ Paid receptionist salary for the month.

$31$ Paid $40\%of$ the balance due $to$ Office Supply Company.

$3$

$7$

$11$

$12$

$17$

$31$

$31$

A$.$

invested $$43,000$ cash to start a consulting business.

Hired a receptionist at a salary of $$1,500$ per month.

Purchased $$800$ of supplies, on account, from Office Supply Company.

Paid office rent of $$1,500$ for the month

Billed client $$1,900$ providing consulting services.

Received $$5,000$ advance on a consulting engagement.

Received cash of $$1,600$ for services completed for Mutter Company.

Paid receptionist salary for the month.

Paid $40\%$ of the balance due to Office Supply Company.

$($a$)$

$\backslash$table$[[$General Journal$],[$Date$,$Account Titles $($Explanation NOT required$),$Ref.,Debit,Credit$],[,,,,],[,,,,],[,,,,],[,,,,],[,,,,],[,,,,],[,,,,],[,,,,],[,,,,],[,,,,],[,,,,],[,,,,],[,,,,],[,,,,],[,,,,]]$

Page $1$ Task #$1($Cont$\text{'}$d$)$

$($b$)$ Task #$1($Cont$\text{'}$d$)$

$($c$)$

Task #$2$

Selected transactions from the general journal of I

Kitchen Supply

Company are presented below. Post the transactions to T accounts and prepare a trial balance for the end of the month.

$\backslash$table$[[$General Journal$],[$Date$,$Account Titles $($Explanation NOT required$),$Ref.,Debit,Credit$],[$Jul$.1,\backslash$table$[[1$ Cash$],[$Capital$]],,40,000,40,000],[4,\backslash$table$[[$Accounts Receivable$],[$Service Revenue$]],,2,500,2,500],[11,$Service Revenue,,$4,500,4,500],[18,$Cash Accounts Receivable,,$900,900],[\backslash$table$[[24]],\backslash$table$[[$Office Equipment$],[$Cash$],[$Notes Payable$]],,29,700,\backslash$table$[[\backslash$table$[[],[2,900],[26,800]]]]]]$

Page $3$ Accounts Receivable

Notes Payable

Capital

Service Revenue

$\backslash$table$[[,,,],[,,,],[$Balance$,,,],[,,,],[,,,]]$

$($b$)$

Page $4$ of $12$