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CT3-7 Serial Case (Note: This is a continuation of the serial case from Chapters 1 and 2.) for the current size of the business and
CT3-7 Serial Case (Note: This is a continuation of the serial case from Chapters 1 and 2.) for the current size of the business and that it is best to focus on providing quality service to the company's existing and other new clients. After becoming comfortable with at June 30,2024 , to start to become familiar with the organization's accounting position. The accounting records have not yet been fully updated for the month, so the trial balance is not yet complete. While a number of transactions have already been recorded and posted for the month of June, there are other transactions listed below that have not yet been recorded in the accounting records: June 5 Emily purchased and received advertising supplies. 5,000 marketing brochures were purchased on account from Nakhooda Printing for $2,500. (Hint: Use the Supplies account.) 14ABC purchases computer equipment for $2,520 cash to accommodate the growth of services. (Hint: Use the Equipment account.) 16 Emily's good friend is starting a tour boat business in July and wants ABC to set up the accounting system. A $1,000 cash deposit is received in advance. 19 Emily teaches a "Tips on using Facebook" class to a group of seniors that was booked a number of months ago. A $100 deposit had been received in advance and is included in the Deferred Revenue account. $300 is collected in cash at the end of the class, representing the remaining balance due. 21 Emily authored a training manual for a client in Calgary. An invoice of $2,040 for this work is prepared and emailed to the client. 27 A $200 invoice for use of Emily's cellphone is received. The cellphone is used exclusively for ABC's business. The invoice is for services provided in June and is due on July 21. (Hint: Use the Utilities Expense Account.) 29 A new client has just had its computer data hacked. Emily has agreed to work with the client next month to help the company strengthen its firewall, tighten up its privacy controls, and document its procedures. 30 Emily receives her first paycheque from ABC, for $3,250. 30 The client for which the training manual was authored in the June 21 transaction asks Emily to author an additional piece. This work is completed and emailed to the client in Calgary, together with an invoice of $2,550. 3,250 3,250 2,550 (a) Journalize the above accounting transactions for June (b) Set up T accounts, enter the opening balances in the general ledger from the partially completed trial balance at June 30 , post the remaining June journal entries to the general ledger, and determine the June 30 balances for each account. CT3-7 Serial Case (Note: This is a continuation of the serial case from Chapters 1 and 2.) for the current size of the business and that it is best to focus on providing quality service to the company's existing and other new clients. After becoming comfortable with at June 30,2024 , to start to become familiar with the organization's accounting position. The accounting records have not yet been fully updated for the month, so the trial balance is not yet complete. While a number of transactions have already been recorded and posted for the month of June, there are other transactions listed below that have not yet been recorded in the accounting records: June 5 Emily purchased and received advertising supplies. 5,000 marketing brochures were purchased on account from Nakhooda Printing for $2,500. (Hint: Use the Supplies account.) 14ABC purchases computer equipment for $2,520 cash to accommodate the growth of services. (Hint: Use the Equipment account.) 16 Emily's good friend is starting a tour boat business in July and wants ABC to set up the accounting system. A $1,000 cash deposit is received in advance. 19 Emily teaches a "Tips on using Facebook" class to a group of seniors that was booked a number of months ago. A $100 deposit had been received in advance and is included in the Deferred Revenue account. $300 is collected in cash at the end of the class, representing the remaining balance due. 21 Emily authored a training manual for a client in Calgary. An invoice of $2,040 for this work is prepared and emailed to the client. 27 A $200 invoice for use of Emily's cellphone is received. The cellphone is used exclusively for ABC's business. The invoice is for services provided in June and is due on July 21. (Hint: Use the Utilities Expense Account.) 29 A new client has just had its computer data hacked. Emily has agreed to work with the client next month to help the company strengthen its firewall, tighten up its privacy controls, and document its procedures. 30 Emily receives her first paycheque from ABC, for $3,250. 30 The client for which the training manual was authored in the June 21 transaction asks Emily to author an additional piece. This work is completed and emailed to the client in Calgary, together with an invoice of $2,550. 3,250 3,250 2,550 (a) Journalize the above accounting transactions for June (b) Set up T accounts, enter the opening balances in the general ledger from the partially completed trial balance at June 30 , post the remaining June journal entries to the general ledger, and determine the June 30 balances for each account
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