chapter 4 hw

business, which was to be known as Goumet Consulteng, on a fulstme basis. Courmat Consuling entared ints the following transactions during July: Jul The following assets were received from Jolene Upton: cash, $19.000, ascounts receivabib, \$2:,900; supples, \$3,800; and oflice equement, $8,900. There were no labilites received 1 Pald three month' rent on a lease fental contract $6,000 2. Paid the premiums on propety and casuaty insurarice policot, $6.500. 4 Received cash from clents as an advance payerent for services bo be provided and cocorded t as uneasned tees, $8,000 5. Purchased addrional efrice equipment on accoure from Otloe Nectivites Ce, $5,100. 6 Plecoved cash from clents on account, $12.750 10 Paid cash for a newaploser advertivement, $500 12 Pad Cotice Necessities Co. for part of the debt incumed on July 5, 59600. 12 Provided services on account for the period dvy 112,$14,200 14 Paid receptonist for two weeks' salary, 51,500. Pecond the following transactions on Pape 2 of the poural 14. I7 Receved cash from cash clients for fees earved during the period aly 117,510,400 18 Pad cashitor sueples, 51,000 Fecord the following transactions on Page 2 of the journat: wil. 17 Received cash from cash clients for tees earned during the period July 117,$10,400 18 Paid cash for supplios. $1,000. 20 Provided services on account tor the period July 1320,59,000. 24 Received cash ftom cash clients for fees eamed for the period July 1724,58,500. 26 Received cash trom clients on account $12,000 27 Paid receptionist for two weeks' salary, $1,500. 29 Paid velephone bill for July, $925 31 Paid electricity bill for July, $875 31 Received cash from cash clients for fees earned for the period July 2531,$7,100. 31 Provided services on account for the remainder of July, $5,500. 31 Jolene withdrew $20,000 tor porsonal vis. Plequired: 1. Joumalize each transaction in a two-column journal starting on Page 1 , referring to the chart of accounts in selocting the accounts to be dectled and crectied. (Do nof insevt the acoount numbers in the journat at this timo.) 2. Post the July transactions. from the joumal to a ledger of founcolumn accounts. Be sure to save your work in Excel as if will be used to complete the following 1. Joumalize each transaction in a Ho-cotumn journat starting on Page 1 , referring to the chart of accounts in selecting the accounts to be debited and credived. (Do not insert the account numbers in the joumat at this pime) 2. Post the duly transactions. A. Download the spreadsheot in the Ledger panef and save the Excel file to your computer. Use the spreadsheet to post the July transactions from the joumal to a ledper of four-column accounts. Be sure fo save your work in Ercel as if wili be used to complete the following steps in Part 1 of this problem as well as steps in Part 2 of this probiem. Your input info the spreadsheet will not be included in your grade in CengageNOW on this problem. B. Add the appropriate posting reference to the journal in Cengagewow. 3. Propare an unadjusted trial balance. 4. At the end of July, the following adjustment data were assembled. Analyze and use these data to complete requirements (5) and (6). - Instrance expired during dily is \$375. + Supplies on hand on duly 31 are $2,850 - Depreciation of affice equipment for Juty is 5400. - Accrued receptionist salary on July 3t is $140. - Rent expined during Jily is \$2,000 - Uneamed tees on duly 31 are $3,000 5. (Optional) On vour own paper or spreadsheet, enfer the unadusted trial batance on an end-ol-period work sheet and complete the spreadsheet. Find a blank end-of-period work sheet in the Excei spreadsheef you previously downloaded. 4. At the end of July, the following adjustment data were assembled. Analyze and use these data to complete requirements (5) and (6) - Insurance expired during July is $375. - Supplies on hand on July 31 are $2,850. - Depreciation of affice equipment for July is $400. - Accrued receptionist salary on duly 31 is $140. - Fent expired during July is $2,000 - Uneamed fees on July 3t are 53,000 . 5. (Optiona) On your own paper or spreadsheet, enter the unadiusted trial balance an an end-or-period work sheet and complete the spreadsheet. Find a blank end-or-period wark sheet in the Excel spreadsheot you previously downloaded. 6. A. Jounalize the adjusting entries on page 3 of the journal. Adjusting entries are recorded on July 31 . B. Use the attached spreadsheet in the Ledger panel to post the adjusting entries to the ledger of four-column accounts, inserting balan the accounts affected. Add the appropriate posting reference to the acfusting entries in the jounal in CengageNOW. 7. Prepare an adjusted trial balance. business, which was to be known as Goumet Consulteng, on a fulstme basis. Courmat Consuling entared ints the following transactions during July: Jul The following assets were received from Jolene Upton: cash, $19.000, ascounts receivabib, \$2:,900; supples, \$3,800; and oflice equement, $8,900. There were no labilites received 1 Pald three month' rent on a lease fental contract $6,000 2. Paid the premiums on propety and casuaty insurarice policot, $6.500. 4 Received cash from clents as an advance payerent for services bo be provided and cocorded t as uneasned tees, $8,000 5. Purchased addrional efrice equipment on accoure from Otloe Nectivites Ce, $5,100. 6 Plecoved cash from clents on account, $12.750 10 Paid cash for a newaploser advertivement, $500 12 Pad Cotice Necessities Co. for part of the debt incumed on July 5, 59600. 12 Provided services on account for the period dvy 112,$14,200 14 Paid receptonist for two weeks' salary, 51,500. Pecond the following transactions on Pape 2 of the poural 14. I7 Receved cash from cash clients for fees earved during the period aly 117,510,400 18 Pad cashitor sueples, 51,000 Fecord the following transactions on Page 2 of the journat: wil. 17 Received cash from cash clients for tees earned during the period July 117,$10,400 18 Paid cash for supplios. $1,000. 20 Provided services on account tor the period July 1320,59,000. 24 Received cash ftom cash clients for fees eamed for the period July 1724,58,500. 26 Received cash trom clients on account $12,000 27 Paid receptionist for two weeks' salary, $1,500. 29 Paid velephone bill for July, $925 31 Paid electricity bill for July, $875 31 Received cash from cash clients for fees earned for the period July 2531,$7,100. 31 Provided services on account for the remainder of July, $5,500. 31 Jolene withdrew $20,000 tor porsonal vis. Plequired: 1. Joumalize each transaction in a two-column journal starting on Page 1 , referring to the chart of accounts in selocting the accounts to be dectled and crectied. (Do nof insevt the acoount numbers in the journat at this timo.) 2. Post the July transactions. from the joumal to a ledger of founcolumn accounts. Be sure to save your work in Excel as if will be used to complete the following 1. Joumalize each transaction in a Ho-cotumn journat starting on Page 1 , referring to the chart of accounts in selecting the accounts to be debited and credived. (Do not insert the account numbers in the joumat at this pime) 2. Post the duly transactions. A. Download the spreadsheot in the Ledger panef and save the Excel file to your computer. Use the spreadsheet to post the July transactions from the joumal to a ledper of four-column accounts. Be sure fo save your work in Ercel as if wili be used to complete the following steps in Part 1 of this problem as well as steps in Part 2 of this probiem. Your input info the spreadsheet will not be included in your grade in CengageNOW on this problem. B. Add the appropriate posting reference to the journal in Cengagewow. 3. Propare an unadjusted trial balance. 4. At the end of July, the following adjustment data were assembled. Analyze and use these data to complete requirements (5) and (6). - Instrance expired during dily is \$375. + Supplies on hand on duly 31 are $2,850 - Depreciation of affice equipment for Juty is 5400. - Accrued receptionist salary on July 3t is $140. - Rent expined during Jily is \$2,000 - Uneamed tees on duly 31 are $3,000 5. (Optional) On vour own paper or spreadsheet, enfer the unadusted trial batance on an end-ol-period work sheet and complete the spreadsheet. Find a blank end-of-period work sheet in the Excei spreadsheef you previously downloaded. 4. At the end of July, the following adjustment data were assembled. Analyze and use these data to complete requirements (5) and (6) - Insurance expired during July is $375. - Supplies on hand on July 31 are $2,850. - Depreciation of affice equipment for July is $400. - Accrued receptionist salary on duly 31 is $140. - Fent expired during July is $2,000 - Uneamed fees on July 3t are 53,000 . 5. (Optiona) On your own paper or spreadsheet, enter the unadiusted trial balance an an end-or-period work sheet and complete the spreadsheet. Find a blank end-or-period wark sheet in the Excel spreadsheot you previously downloaded. 6. A. Jounalize the adjusting entries on page 3 of the journal. Adjusting entries are recorded on July 31 . B. Use the attached spreadsheet in the Ledger panel to post the adjusting entries to the ledger of four-column accounts, inserting balan the accounts affected. Add the appropriate posting reference to the acfusting entries in the jounal in CengageNOW. 7. Prepare an adjusted trial balance