counts Ledger Label and Amon Work She Journal Instructions For the past several years, Steffy Lopez has operated a part-time consulting business from his home. As of July 1, 2012. Steffy decided Consulting, on a full-time basis. Diamond entered into the following transactions during July Jul 1 The following assets were received from Steffy Lopez in exchange for common stock: cash. $12,500: accounts receivable, $20,800, supplies, $3,200, and office equipment. $7,000. There were no liabilities received. 1 2 4 5 Paid two months rent on a lease rental contract. 54,800 Paid the premiums on property and casualty insurance policies, 54,800, Received cash from clients as an advance payment for services to be provided, and recorded it as unearned fees, $5,500, Purchased additional office equipment on account from Office Station Co. 56,500 Received cash from clients on account, $15.100. Pald cash for a newspaper advertisement. $400, Paid Office Station Co. for part of the debt incurred on July 5, 55,200. Recorded services provided on account for the period July 1-12. $13.300. Paid receptionist for two weeks salary, S1,800. 0 10 12 12 14 Record the following transactions on Page 2 of the journal Jul 17 Recorded cash from cash clients for fees earned during the period July 1-17. 50.450. Paid cash for supplies. 5800 18 All work saved JOURNAL DATE DESCRIPTION POST. REF. DEBIT CREDIT ASSE 1 JUL 1 Cash 12,500.00 . 2 Accounts Receivable 20,800.00 3,200.00 3 + Supplies Office Equipment 4 7,000.00 $ Common Stock 43,500.00 JUL1 Prepaid Rent 4,800.00 7 Cash 4,800.00 . JUL.2 Prepaid Insurance 4,800.00 9 Cash 4,800.00 30 JUL 4 Cash 5,500.00 5,500.00 Unearned Fees 31 . 6,500,00 JUL 5 12 Office Equipment Accounts Payable 6,500.00 13 15,100.00 JUL.6 Cash 14 15.100.00 Accounts Receivable 15 400.00 36 advertisement expense JUL 10 400.00 12 Fees Earned 5,200.00 30 JUL. 12 Accounts Payable 5.200.00 59 Cash 5,200.00 1 19 Cash 13,300.00 1 Jul. 12 Accounts Receivable 20 21 13,300.00 Fees Earned 22 1,800.00 Jul 14 Salary Expense 1,800.00 21 Cash ACCOUNTING EQ JOURNAL CREOT ASSETS USUMES POSTRE DATE DESCRIPTION DEBIT 9,450.00 1 1 Jul 17 Cash 9,450.00 2 Fees Earned 600.00 + Jul 18 Supplies Cash 600.00 6,650.00 Jul.20 Accounts Receivable 6,690 00 Fees Eained 4,000.00 JUL 24 Cash 4,000.00 Fees Earned 12,000.00 JUL 26 Cash 12,000.00 50 Accounts Receivable 1,750.00 11 JUL 27 Sitary Expense Cash 750.00 12 5 Jul 20 Accounts Receivable 6,650.00 6 6 Fees Earned 6,650.00 7 JUL 24 Cash 4,000.00 5 Fees Earned 4,000.00 9 Jul 26 Cash 12,000.00 9 12,000.00 11 Accounts Receivable Jul. 27 Salary Expense Cash 1,750.00 1,750.00 1 12 JUL 29 telephone expense 325.00 325.00 13 14 15 Cash Jul 31 electricity expense 675.00 Cash 675.00 16 17 JUL 31 Cash 5,300.00 Fees Earned 5,200.00 19 JUL. 31 3,000.00 Accounts Receivable Fees Eamed 5,000.00 20 2: 17,500.00 Jul. 31 Dividends 12,500.00 12 Cash JOURNAL DATE DESCRIPTION CREDIT POST REF DEBIT Adjusting Entries 2 JUL. 31 Insurance Expense 375.00 375.00 Prepaid Insurance 3 4 JUL 31 Supplies Expense 2,275.00 2,275.00 750.00 Supplies Jul 51 Depreciation Expense accumulated-dep JUL 31 Salary Expense salary payable 750.00 125.00 125.00 9 10 JUL 31 Rent Expense 2,400.00 Prepaid Rent 2,400.00 Jul. 31 12 2,750.00 Unearned Fees 2.750.00 10 Fees Earned es 9. a Journalize the sons entre on page of the journal 9. a. Joumalize the closing entries on page 4 of the joumal JOURNAL DATE DESCRIPTION POST. REF DEBIT CREDIT ASSET Closing Entries 2 3 5 6 2 9 10 11 Ledger Diamond Consulting UNADJUSTED TRIAL BALANCE July 31, 2012 ACCOUNT TITLE DEBIT CREDIT 1 Cash 2 Accounts Receivable Supplies 4 Prepaid Rent 5 Prepaid Insurance & Office Equipment 7 Accumulated Depreciation $ Accounts Payable 9 Salaries Payable 10 Unearned Fees 11 Common Stock 12 Retained Earnings 15 Dividends 14 Fees Earned 45 Salary Expense 1 Rent Expense Supplies Expense 15 Depreciation Expense LEDGER Account: Cash Account: Accounts Receivable Account: Supplies Account: Prepaid Rent Account: Prepaid Insurance Account: Office Equipment Account: Accumulated Depreciation Account Accounts Payable Account: salaries Payable Account: Unearned Fees Account: Common Stock Account: Retained Earings Account: Dividends Account: Fees Earned Account: Salary Expense Account: Rent Expense Account Supplies Expense Account: Depreciation Expense Account: Insurance Expense Account: Miscellaneous Expense