Can i get help with this Accounting 101 project. Its about journal entries and financial statements. Question sheet with problems and excel file for entries is provided separately.

Thank You!

1 Dear students, This is your project for this quarter which is designed to review and tie together chapters 1-6 for you. You are the owner of a company called A-Z computer services. You are going to do 1 month of journal entries, followed by completing a worksheet with adjustments, financial statements, closing entries and a post-closing trial balance. The chart of accounts for you company is listed below. On page 2 is a list of all the requirements for this project. Be sure to follow them in order. A - Z COMPUTER SERVICES CHART OF ACCOUNTS Assets Revenue 111 Cash 411 113 Supplies 115 Computer Software Expenses 117 Office Equipment 511 Advertising Expense 118 Accum. Depr., Office Equipment 512 Rent Expense 120 Electric Sign 513 Supplies Expense 121 Accum. Depr., Electric Sign 514 Utilities Expense 515 Wages Expense Liabilities 516 Miscellaneous Expense 211 517 Depr. Exp. Office Equipment 518 Depr. Exp. Electric Sign Accounts Payable Owner's Equity 311 ________________, Capital* 312 ________________, Drawing* 330 Income from Services Income Summary *Put your name in front of the words Capital and Drawing Instructions 2 1. Journalize the transactions for the month of June, 2012, beginning on page .J 1. Be sure and list the Debit Account(s) first; Credit Account(s) next. Be sure and write a brief explanation for each transaction. 2. Write the name of the owner (you!) on the Capital and Drawing accounts in the General Ledger.(if you have not already done so) 3. Post the journal entries to the general ledger accounts. Be sure and use the Post Reference #s for each posting. 4. Prepare the Trial Balance section of the worksheet. 5. Prepare the Adjustments section of the worksheet. Here is the information for your adjustments a. Compute and record the adjustment for supplies used during the month. An inventory showed supplies on hand of $535. b. Record the adjustment for depreciation of Office Equipment of $80 for the month. c. Record the adjustment for depreciation of Electric Sign of $22 for the month. 6. Complete the worksheet. On the forms provided prepare an Income Statement for the month, Statement of Owner's Equity, and a Balance Sheet. . 7. Journalize and post the Adjusting and Closing entries. 8. Prepare a Post- closing Trial Balance. 9. Complete the Audit report and turn in to me the excel portion of the project and the audit report. DUE: Feb 21, 2016__________________________________ You made the following transactions for A - Z Computer SERVICES during the month of June: June 1 You deposited $18,500 cash in a bank account in the name of the business. 3 3 Bought office equipment from XYZ Office Mart for cash, $685, Ck. #1001, Inv. #1357. 5 Bought computer software from Flash Computer Center, $890, putting $200 down and putting the balance on account, Ck. #1002, Inv. #422. 6 Paid current month's rent, $725, Ck. #1003. 7 Performed services for cash, $1,048. 10 Bought an electric sign from Bright Light Signs, $1,325, putting $325 down, and placing the balance on account, Ck. #1004, Inv. 6712. 12 Received a bill from The Times Review for advertising, $434, Inv. TR198. 13 Bought supplies on account from XYZ Office Mart, $1,185, Inv. #1425. 15 Received and paid the electric bill, $188, Ck. #1005. 20 Paid on account to The Times Review, $434, Ck. #1006, Inv. #TR198. 21 Performed services for cash, $1,272. 25 Paid sales clerk's wages, $655, Ck. #1007. 27 You invested your personal computer (Office Equipment) in the business with a fair market value of $1,200. 29 You withdrew cash for personal use, $750, Ck. #1008. 30 Received and paid the bill for the city business license, $35, Ck. #1009, (Miscellaneous Expense). Project 12 - Computer Repairs Name: GENERAL JOURNAL 2016 Account Titles and Description GJ 1 PR Debit Credit GENERAL JOURNAL GJ 2 Date 2016 Account Titles and Description PR Debit Credit GENERAL LEDGER CASH Date 2016 Explanation Post Ref. ACCOUNT NO. 111 Balance Debit Credit SUPPLIES Date 2016 Explanation Post Ref. Debit Credit COMPUTER SOFTWARE Date 2016 Explanation Post Ref. Debit Credit OFFICE EQUIPMENT Date 2016 Explanation Post Ref. Debit Credit Debit Credit ACCOUNT NO. 113 Balance Debit Credit ACCOUNT 115 Balance Debit Credit ACCOUNT NO. 117 Balance Debit Credit ACCUMULATED DEPRECIATION, OFFICE EQUIPMENT Date 2016 Explanation Post Ref. Debit Credit ELECTRIC SIGN Date 2016 Explanation Post Ref. Debit Credit ACCUMULATED DEPRECIATION, ELECTRIC SIGN Date 2016 Explanation Post Ref. Debit Explanation Post Ref. Debit Credit Credit , CAPITAL Date 2012 Explanation Post Ref. Debit Credit , DRAWING Date 2012 Explanation Post Ref. Debit ACCOUNT NO. 120 Balance Debit Credit ACCOUNT NO. 121 Balance ACCOUNTS PAYABLE Date 2012 ACCOUNT NO. 118 Balance Debit Credit Credit Debit Credit ACCOUNT NO. 211 Balance Debit Credit ACCOUNT NO. 311 Balance Debit Credit ACCOUNT NO. 312 Balance Debit Credit Date 2016 INCOME SUMMARY Post Explanation Ref. Date 2016 INCOME FROM SERVICES Post Explanation Debit Ref. Debit Credit Credit ADVERTISING EXPENSE Date 2016 Explanation Post Ref. Debit Credit RENT EXPENSE Date 2016 Explanation Post Ref. Debit Credit SUPPLIES EXPENSE Date 2016 Explanation Post Ref. Debit Explanation Post Ref. Debit ACCOUNT NO. 411 Balance Debit Credit ACCOUNT NO. 511 Balance Debit Credit ACCOUNT NO. 512 Balance Debit Credit Credit ACCOUNT NO. 513 Balance Debit Credit Credit ACCOUNT NO. 514 Balance Debit Credit UTILITIES EXPENSE Date 2016 ACCOUNT NO. 330 Balance Debit Credit Date 2016 WAGES EXPENSE Post Explanation Ref. ACCOUNT NO. 515 Debit Credit MISCELLANEOUS EXPENSE Date 2016 Explanation Post Ref. Debit Credit ACCOUNT NO. 516 Debit Credit Debit Credit A - Z COMPUTER REPAIRS WORK SHEET For the month ending June 30, 2016 TRIAL BALANCE ACCOUNT NAME DEBIT CREDIT ADJUSTMENTS DEBIT CREDIT ADJUSTED TRIAL BALANCE DEBIT CREDIT INCOME STATEMENT DEBIT CREDIT BALANCE SHEET DEBIT CREDIT 1 1 2 2 3 3 4 4 5 5 6 6 7 7 8 8 9 9 10 10 11 11 12 12 13 13 14 14 15 15 16 16 17 17 18 18 19 19 20 21 22 totals income or (loss) totals 20 21 22 23 23 24 24 25 25 26 26 GENERAL JOURNAL GJ 3 Date 2012 Account Titles and Description Adjusting Entries PR Debit Credit A - Z COMPUTER SERVICES INCOME STATEMENT for the month ended June 30, 2016 Revenue Expenses A - Z COMPUTER SERVICES STATEMENT OF OWNER'S EQUITY for the month ended June 30, 2016 Beginning Capital Additional investment by owner xxxxx xxxxx A - Z COMPUTER SERVICES BALANCE SHEET June 30 2016 ASSETS LIABILITIES AND OWNER'S EQUITY xxxxx GENERAL JOURNAL GJ 4 Date 2012 Account Titles and Description Closing Entries PR Debit Credit A - Z COMPUTER SERVICES POST-CLOSING TRIAL BALANCE June 30 2016 Account TOTALS Debit Credit