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can anyone solve all of the questions from 1-7 ? Problem 3-14B Journ 3:14B Journalizing posting, adjusted trial balance, adjusting entries (monthly), financial he adjusted

can anyone solve all of the questions from 1-7 ? image text in transcribed
Problem 3-14B Journ 3:14B Journalizing posting, adjusted trial balance, adjusting entries (monthly), financial he adjusted during the statements (quarterly) LO, 5, 6, 7 Determine FIGURES: 3. Cash balance, July 31, 2020 = $3,400,4. D $45,820. 6. Dr.= $50,100,7. Profit = $7,550 Joly 1.2020, Melanie Thornhill began her third month of operating an electronics repair shop called MT Perairs out of her dad's garage. The following occurred during the third month of operations: sition from LO7 y h-end: Collected $3,600 as a deposit for work to be done at the local college in the fall. 1 Melanie Thornhill withdrew $4,000 cash for personal expenses. 2 Paid $2.200 for repair supplies purchased on account last month 3 Did work for a client and immediately collected $1.400. 4 Performed services for a customer and collected $3.600. 7 Hired a new technician to start next week on a casual basis at $400 per day. 15 Melanie withdrew cash of $1,000 for personal use. 22 Purchased repair supplies for cash $1,600. 31 Paid wages of $2,800. Required 1. Prepare general journal entries to record the July transactions. 2. Set up the following T-accounts with June 30 adjusted balances: Cash (101), S6,400; Repair Supplies (131). $3,000; Tools (161). $16,800; Accumulated Depreciation, Tools (162). $560; Accounts Payable (201). $3,200; Unearned Revenue (233), 8700; Melanie Thornhill, Capital (301) $7: Melanie Thornhill. With drawals (302), 50: Revenue (401), $25,800: Depreciation Expense, Tools (602), S560; Wages Expense (623). $1,960; Rent Expense (640). $8,000; and Repair Supplies Expense (696), $2,700. at the entries to the accounts; calculate the ending balance in each account 4. Prepare an unadjusted trial balance at July 31, 2020. uwing information to prepare and post adjusting entries for the month of July bols have an estimated life of five years with no residual value. uarter of the repair supplies balance remained on hand at July 31. ed the July rent expense of $4,000; it will be paid in August the unearned revenues remained unearned as at July 31. 5. Use the following information to pro b. One-quarter of the rep d. $3,800 of the uneari 6. Prepare an adjusted trial balance. 7. Prepare an income state 120, and a July 31, 2020 balance sheet. me statement and a statement of changes in equity for the three months ended July 31. Analysis Component: Whe qual to the expenses was par ent: When a company shows expenses on its income statement, does this mean that cash es was paid during the period in which the expenses were reported

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