C23 PU 11 31 32 33 34 A B 1-Jul 1-Jul 1-Jul 5-Jul 27 7-Jul 28 8-Jul 29 10-Jul 30 13-Jul 15-Jul 16-Jul 18-Jul 22-Jul 27-Jul 1-Jul 35 36 31-Jul 37 31-Jul 56 57 12 Michael Scott Consulting Corporation started business operations on July 1. 13 Michael Scott is the sole owner of the corporation. 14 IT 15 Part A: Journalize the following transactions for July. 16 During July the following transactions were completed by Michael Scott Consulting Corporation 17 18 13 20 21 22 23 24 25 26 11 2) 31 41 D 3456 Ready X 51 E 1-Jul Michael Scott invested $10,000 in exchange for common stock in Michael Scott Consulting Corporation. fix F Prepaid $9,600 for one year of rent for office space. G H 38 39 Part B: Post the above transactions to the appropriate general ledger accounts and find balances. 40 Part C: Prepare an unadjusted trial balance for Michael Scott Consulting Corporation as of July 31. 41 Part D: Journalize and post to general ledger accounts the following adjustments for July: 42 43 44 45 46 47 48 49 50 51 Part E: Prepare an adjusted trial balance for Michael Scott Consulting Corporation as of July 31st. 52 Part F: Prepare in good form an Income Statement, Retained Earnings Statement, 53 Michael Scott Consulting Corporation received $30,000 a business loan from his nana. His nana will charge him 7% APR interest and the loan will be due in 3 vears The first payment is due on December 31st. The interest amount is calculated for you later in the problem, Prepaid $600 for one year of rent for office space. HIRED Ryan Howard and Pam Beesly as salespeople Each will be paid $1,000 per month. Purchased two office computers (PPE) for a total of $1,100 cash. Bought a copy machine (PPE) for $1.300 cash Purchased office supplies for $900 on account Pam provided consulting services of $2.500 to Dunder-Mifflin on account due in 10 days Paid for utilities with $150 cash.DAN BERMENTES Paid for office supplies purchased on account on July 7 in full Incurred 2 weeks of wages for a total of $1,000 to be paid on July 31 Pam provided consulting services to Jim Halpert of $500, and was paid in cash. Received the payment for services provided on July 8 in Full Ryan provided consulting services for $1,500 to Dwight Schrute on account Received the payment in full for the services provided on July 22 Paid employee wages incurred on July 15 in Full Incurred one month of interest on the loan from Michael's nana, $175. Wages incurred but not yet paid or recorded for Ryan and Pam are $1,000 Services that had been provided by Michael al the end of July but were not billed or recorded totaled $1,200 $200 of supplies have been used. One month of rent has expired and Classified Balance Sheet for Michael Scott Consulting Corporation at July 31st. 54 Part G: Journalize and post closing entries for Michael Scott Consulting Corporation for the month of July. 55 Part H: Prepare a post-closing trial balance for Michael Scott Consulting Corporation as of July 31st. July depreciation on the computers and copier is $40 A $150 dividend was declared on July 31, but has not been paid. K Comprehensive Problem Journal Entries General Ledger Accounts Accessibility: Good to go M N 0 P Unadjusted Trial Balance ... Q + R K S T V

1 Adjusting Entries Jourual \begin{tabular}{|l|l|l|l|l|} \hline 3 & Date & Account Title/Explanation & Debit & Credit \\ \hline 4 & & & & \\ \hline 5 & & & & \\ \hline 7 & & & & \\ \hline 8 & & & & \\ \hline 9 & & & & \\ \hline 10 & & & & \\ \hline 11 & & & & \\ \hline 12 & & & \\ \hline 13 & & & \\ \hline 14 & & & \\ \hline 15 & & & \\ \hline \end{tabular} A1 f Post-Closing Trial Balance B c c D D E F G 2 3 Account 4 5 6 7 8 9 10 11 12. 13 14 15 16 18 19 20 21 22 23 \begin{tabular}{l|r} Debit & Credit \end{tabular} Adjusted trial Balance Financial Statements Closing Entries Post Closing Trial Balance 1. General Ledger Accounts \begin{tabular}{|c|c|c|c|c|c|} \hline 4 & & & & & \\ \hline 5 & Dye & Detisnphan & Detat & Ciedn: & Esanges \\ \hline 6 & & & & & \\ \hline? & & +8 & & & \\ \hline o. & & & & & \\ \hline 3. & & - & & & \\ \hline v & & & & & \\ \hline & & & A & & \\ \hline 12. & & B. & - & & E \\ \hline n & & & & & \\ \hlinex & & & & It & \\ \hline 5 & & a & TH & & \\ \hline 10 & & & & +8 & \\ \hline & & & 48 & that & \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|c|} \hline 10 & & & & & \\ \hline & Dene & Defocieben & Debet & Cead & Bulnce \\ \hline 20 & & x2 & & & \\ \hline 23 & & +2 & thent & & \\ \hline 22 & & II & & & \\ \hline 23 & & & & & \\ \hline 24 & & & & & \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|} \hline & Ceticistin & Deta & Cies! & Tirase \\ \hline & & & & \\ \hline & & & & \\ \hline & & & & \\ \hline & & & & \\ \hline & & & & \\ \hline \end{tabular} A1 fr Unadjusted Trial Balance Financial Statements Note: You must create all three financial statements (in good form) on this page A1 fr Closing Entries Journal A. B c D E F G 1 Closing intries Journal 2 1 Adjusted Trial Balance A C D C23 f. Prepaid $9,600 for one vear of rent for office space. N Comprehensive Problem Journal Entries | General Ledger Accounts | Unadjusted nal halance