Durance Insuctions For the past several years Stefly Lopez has operated a porttime consulting business from his home As of Jay 1, 2012 Setydeded to move to sented quarters and to operate the business, which was to be known in mod Consulting on a time basis Diamond entered into the following transactions ungu 1 1 2 The gets were received from Sety Lopez exchange for common stock canh $12 500 accounts recetate, 520,000 $9, 100, and the equipment S7 800 There were to be olved Podtwo months rent on a lease contact 54 500 Pad the premium on property and Coace poco 56 620 Received cash from here as an advance payment for services to be provided and recorded as uneared fees 55 000 chased on cemento account home sono 6 500 Hotections on account 515 100 wash for a newspaper avertisement 6500 One on a part of the cared on July 6 5 200 Recorded as proved on account for the period 1 12 313 00 14 Pro 51 700 12 24 Recorded as on the period 13 20 160 Recondom cancestors and the period 17 245 000 Hechman 12 000 2 Record the following transactions on Page 2 of the journal Jul 17 18 20 24 26 27 Recorded cash from cash clients for fees earned during the period July 117 $9,450 Paid cash for supplies 5600 Recorded services provided on account for the period July 13 20,56,660 Recorded cash from cash clients for fees earned for the period July 17 24, $5,000 Received cash from clients on account $12,000 Paid receptionist for two weeks' salary, 51 700 Paid telephone bill for July $300 Paid electricity bill for July, 5675 Recorded cash from cash clients for fees earned for the period July 25 31, $5,400 Recorded services provided on account for the remainder of July $3,000 Paid dividends, $12,500 29 31 31 31 31 Required 1 Journaize each transaction in a two column journal starting on Page 1, referring to the chart of accounts in selecting the accounts to be debited and credited (Do not insert the account numbers in the journal artis time) 2 Post the journal to a ledger of four column accounts Add the appropriate posting reference to the joumar 3 Prepare an unadjusted trial balance 4 Al the end of May, me following adjustment data were assembled Analyze and use these data to complete requrements (5) and (6) A Insurance expired during July is $385 B Supplies on hand on July 31 are $1,550 C Depreciation of office equipment for July is $750 D Accrued receptionist salary on July 31 is $170 E Rene expired during July is $2 400 F Uneamed fees camed on July 31, $2,750 5 (Optional) On your own paper or spreadsheet, enter meunadjusted trial balance on an end of period work sheet and complete the work sheet 5 c Depreciation of office equipment for July 1s 5750 Accued receptionist salary on July 31 is 5170 E Rent expired during July is $2 400 F Uneamed fees earned on July 31, $2,750 5 (Optional) on your own paper or spreadsheet enter the unadjusted trial balance on an end or period work sheet and complete the work sheet 6 A Journalize the adjusting entries on page 3 of the journal Adjusting entries are recorded on July 31 refer to the Chart of Accounts for exact wording of account ones B Post the adjusting entries, inserting balances in the accounts affected 7 Prepare an adjusted trial Dance A Prepare an income statement for the month ended Juy 31, 2012 Be sure to complete the statement heading ta net loss has been incurred, enter that amount as a negative number using a minus sign Refer to the Accounts Labels and Amount Descriptions provided for the exact wording of the answer choices for text entries You will not need to enter colons () on me ncome statement B Prepare a statement of stockholders' equity for the month ended Jay 31, 2012 Be sure to complete the statement heading Negative amount should be indicated by the munus sign Refer to the Accounts, Labels and Amount Descriptions provided for the exact worang or the answer choices for text entries of an amount is zero, enter C Prepare a balance sheet as of July 31, 2012 Be sure to complete the statement heading, Fixed assets must be entered in order according to account number Refer to the Accounts, Labels and Arnourt Descriptions provided for the exact wording of tre answer choices for texternes You will not need to enter colons() or the word Less on the balance sheet they will automatically insert where necessary Negative amount should be indicated by the minus sign 9 A burratze the closing extremes on page 4 of the journal Refer to the Chart of Accounts for exact wording of account ories a Post the closing entries, inserting balances in me accounts anfected Leave the ITEM UT BLANK for each row if the account balance is zero (0) after closing entries are posted enter a zero (O) in the accounts normat balance column 10 Prepare a post closing trabalwe Chart of Accounts Durance Insuctions For the past several years Stefly Lopez has operated a porttime consulting business from his home As of Jay 1, 2012 Setydeded to move to sented quarters and to operate the business, which was to be known in mod Consulting on a time basis Diamond entered into the following transactions ungu 1 1 2 The gets were received from Sety Lopez exchange for common stock canh $12 500 accounts recetate, 520,000 $9, 100, and the equipment S7 800 There were to be olved Podtwo months rent on a lease contact 54 500 Pad the premium on property and Coace poco 56 620 Received cash from here as an advance payment for services to be provided and recorded as uneared fees 55 000 chased on cemento account home sono 6 500 Hotections on account 515 100 wash for a newspaper avertisement 6500 One on a part of the cared on July 6 5 200 Recorded as proved on account for the period 1 12 313 00 14 Pro 51 700 12 24 Recorded as on the period 13 20 160 Recondom cancestors and the period 17 245 000 Hechman 12 000 2 Record the following transactions on Page 2 of the journal Jul 17 18 20 24 26 27 Recorded cash from cash clients for fees earned during the period July 117 $9,450 Paid cash for supplies 5600 Recorded services provided on account for the period July 13 20,56,660 Recorded cash from cash clients for fees earned for the period July 17 24, $5,000 Received cash from clients on account $12,000 Paid receptionist for two weeks' salary, 51 700 Paid telephone bill for July $300 Paid electricity bill for July, 5675 Recorded cash from cash clients for fees earned for the period July 25 31, $5,400 Recorded services provided on account for the remainder of July $3,000 Paid dividends, $12,500 29 31 31 31 31 Required 1 Journaize each transaction in a two column journal starting on Page 1, referring to the chart of accounts in selecting the accounts to be debited and credited (Do not insert the account numbers in the journal artis time) 2 Post the journal to a ledger of four column accounts Add the appropriate posting reference to the joumar 3 Prepare an unadjusted trial balance 4 Al the end of May, me following adjustment data were assembled Analyze and use these data to complete requrements (5) and (6) A Insurance expired during July is $385 B Supplies on hand on July 31 are $1,550 C Depreciation of office equipment for July is $750 D Accrued receptionist salary on July 31 is $170 E Rene expired during July is $2 400 F Uneamed fees camed on July 31, $2,750 5 (Optional) On your own paper or spreadsheet, enter meunadjusted trial balance on an end of period work sheet and complete the work sheet 5 c Depreciation of office equipment for July 1s 5750 Accued receptionist salary on July 31 is 5170 E Rent expired during July is $2 400 F Uneamed fees earned on July 31, $2,750 5 (Optional) on your own paper or spreadsheet enter the unadjusted trial balance on an end or period work sheet and complete the work sheet 6 A Journalize the adjusting entries on page 3 of the journal Adjusting entries are recorded on July 31 refer to the Chart of Accounts for exact wording of account ones B Post the adjusting entries, inserting balances in the accounts affected 7 Prepare an adjusted trial Dance A Prepare an income statement for the month ended Juy 31, 2012 Be sure to complete the statement heading ta net loss has been incurred, enter that amount as a negative number using a minus sign Refer to the Accounts Labels and Amount Descriptions provided for the exact wording of the answer choices for text entries You will not need to enter colons () on me ncome statement B Prepare a statement of stockholders' equity for the month ended Jay 31, 2012 Be sure to complete the statement heading Negative amount should be indicated by the munus sign Refer to the Accounts, Labels and Amount Descriptions provided for the exact worang or the answer choices for text entries of an amount is zero, enter C Prepare a balance sheet as of July 31, 2012 Be sure to complete the statement heading, Fixed assets must be entered in order according to account number Refer to the Accounts, Labels and Arnourt Descriptions provided for the exact wording of tre answer choices for texternes You will not need to enter colons() or the word Less on the balance sheet they will automatically insert where necessary Negative amount should be indicated by the minus sign 9 A burratze the closing extremes on page 4 of the journal Refer to the Chart of Accounts for exact wording of account ories a Post the closing entries, inserting balances in me accounts anfected Leave the ITEM UT BLANK for each row if the account balance is zero (0) after closing entries are posted enter a zero (O) in the accounts normat balance column 10 Prepare a post closing trabalwe Chart of Accounts

Question

Durance Insuctions For the past several years Stefly Lopez has operated a porttime consulting business from his home As of Jay 1, 2012 Setydeded to move to sented quarters and to operate the business, which was to be known in mod Consulting on a time basis Diamond entered into the following transactions ungu 1 1 2 The gets were received from Sety Lopez exchange for common stock canh $12 500 accounts recetate, 520,000 $9, 100, and the equipment S7 800  There were to be olved Podtwo months rent on a lease contact 54 500 Pad the premium on property and Coace poco 56 620 Received cash from here as an advance payment for services to be provided and recorded as uneared fees 55 000  chased on cemento account home sono 6 500 Hotections on account  515 100 wash for a newspaper avertisement 6500 One on a part of the cared on July 6 5 200 Recorded as proved on account for the period 1 12 313 00 14 Pro 51 700 12 24 Recorded as on the period 13 20 160 Recondom cancestors and the period 17 245 000 Hechman 12 000 2 Record the following transactions on Page 2 of the journal Jul 17 18 20 24 26 27 Recorded cash from cash clients for fees earned during the period July 117  $9,450 Paid cash for supplies 5600 Recorded services provided on account for the period July 13 20,56,660 Recorded cash from cash clients for fees earned for the period July 17 24, $5,000 Received cash from clients on account  $12,000 Paid receptionist for two weeks' salary, 51 700 Paid telephone bill for July $300 Paid electricity bill for July, 5675 Recorded cash from cash clients for fees earned for the period July 25 31, $5,400 Recorded services provided on account for the remainder of July $3,000 Paid dividends, $12,500 29 31 31 31 31 Required  1 Journaize each transaction in a two column journal starting on Page 1, referring to the chart of accounts in selecting the accounts to be debited and credited (Do not insert the account numbers in the journal artis time) 2 Post the journal to a ledger of four column accounts  Add the appropriate posting reference to the joumar 3 Prepare an unadjusted trial balance 4 Al the end of May, me following adjustment data were assembled Analyze and use these data to complete requrements (5) and (6) A Insurance expired during July is $385 B  Supplies on hand on July 31 are $1,550 C  Depreciation of office equipment for July is $750 D  Accrued receptionist salary on July 31 is $170  E Rene expired during July is $2 400 F Uneamed fees camed on July 31, $2,750 5  (Optional) On your own paper or spreadsheet, enter meunadjusted trial balance on an end of period work sheet and complete the work sheet 5 c  Depreciation of office equipment for July 1s 5750 Accued receptionist salary on July 31 is 5170 E Rent expired during July is $2 400 F Uneamed fees earned on July 31, $2,750 5 (Optional) on your own paper or spreadsheet enter the unadjusted trial balance on an end or period work sheet and complete the work sheet 6  A Journalize the adjusting entries on page 3 of the journal Adjusting entries are recorded on July 31  refer to the Chart of Accounts for exact wording of account ones B  Post the adjusting entries, inserting balances in the accounts affected 7  Prepare an adjusted trial Dance A Prepare an income statement for the month ended Juy 31, 2012  Be sure to complete the statement heading ta net loss has been incurred, enter that amount as a negative number using a minus sign Refer to the Accounts Labels and Amount Descriptions provided for the exact wording of the answer choices for text entries  You will not need to enter colons () on me ncome statement B  Prepare a statement of stockholders' equity for the month ended Jay 31, 2012 Be sure to complete the statement heading Negative amount should be indicated by the munus sign Refer to the Accounts, Labels and Amount Descriptions provided for the exact worang or the answer choices for text entries of an amount is zero, enter    C Prepare a balance sheet as of July 31, 2012 Be sure to complete the statement heading, Fixed assets must be entered in order according to account number Refer to the Accounts, Labels and Arnourt Descriptions provided for the exact wording of tre answer choices for texternes  You will not need to enter colons() or the word  Less on the balance sheet they will automatically insert where necessary Negative amount should be indicated by the minus sign 9  A burratze the closing extremes on page 4 of the journal Refer to the Chart of Accounts for exact wording of account ories a Post the closing entries, inserting balances in me accounts anfected Leave the ITEM UT BLANK for each row if the account balance is zero (0) after closing entries are posted enter a zero (O) in the accounts normat balance column 10 Prepare a post closing trabalwe Chart of Accounts Durance Insuctions For the past several years Stefly Lopez has operated a porttime consulting business from his home As of Jay 1, 2012 Setydeded to move to sented quarters and to operate the business, which was to be known in mod Consulting on a time basis Diamond entered into the following transactions ungu 1 1 2 The gets were received from Sety Lopez exchange for common stock canh $12 500 accounts recetate, 520,000 $9, 100, and the equipment S7 800  There were to be olved Podtwo months rent on a lease contact 54 500 Pad the premium on property and Coace poco 56 620 Received cash from here as an advance payment for services to be provided and recorded as uneared fees 55 000  chased on cemento account home sono 6 500 Hotections on account  515 100 wash for a newspaper avertisement 6500 One on a part of the cared on July 6 5 200 Recorded as proved on account for the period 1 12 313 00 14 Pro 51 700 12 24 Recorded as on the period 13 20 160 Recondom cancestors and the period 17 245 000 Hechman 12 000 2 Record the following transactions on Page 2 of the journal Jul 17 18 20 24 26 27 Recorded cash from cash clients for fees earned during the period July 117  $9,450 Paid cash for supplies 5600 Recorded services provided on account for the period July 13 20,56,660 Recorded cash from cash clients for fees earned for the period July 17 24, $5,000 Received cash from clients on account  $12,000 Paid receptionist for two weeks' salary, 51 700 Paid telephone bill for July $300 Paid electricity bill for July, 5675 Recorded cash from cash clients for fees earned for the period July 25 31, $5,400 Recorded services provided on account for the remainder of July $3,000 Paid dividends, $12,500 29 31 31 31 31 Required  1 Journaize each transaction in a two column journal starting on Page 1, referring to the chart of accounts in selecting the accounts to be debited and credited (Do not insert the account numbers in the journal artis time) 2 Post the journal to a ledger of four column accounts  Add the appropriate posting reference to the joumar 3 Prepare an unadjusted trial balance 4 Al the end of May, me following adjustment data were assembled Analyze and use these data to complete requrements (5) and (6) A Insurance expired during July is $385 B  Supplies on hand on July 31 are $1,550 C  Depreciation of office equipment for July is $750 D  Accrued receptionist salary on July 31 is $170  E Rene expired during July is $2 400 F Uneamed fees camed on July 31, $2,750 5  (Optional) On your own paper or spreadsheet, enter meunadjusted trial balance on an end of period work sheet and complete the work sheet 5 c  Depreciation of office equipment for July 1s 5750 Accued receptionist salary on July 31 is 5170 E Rent expired during July is $2 400 F Uneamed fees earned on July 31, $2,750 5 (Optional) on your own paper or spreadsheet enter the unadjusted trial balance on an end or period work sheet and complete the work sheet 6  A Journalize the adjusting entries on page 3 of the journal Adjusting entries are recorded on July 31  refer to the Chart of Accounts for exact wording of account ones B  Post the adjusting entries, inserting balances in the accounts affected 7  Prepare an adjusted trial Dance A Prepare an income statement for the month ended Juy 31, 2012  Be sure to complete the statement heading ta net loss has been incurred, enter that amount as a negative number using a minus sign Refer to the Accounts Labels and Amount Descriptions provided for the exact wording of the answer choices for text entries  You will not need to enter colons () on me ncome statement B  Prepare a statement of stockholders' equity for the month ended Jay 31, 2012 Be sure to complete the statement heading Negative amount should be indicated by the munus sign Refer to the Accounts, Labels and Amount Descriptions provided for the exact worang or the answer choices for text entries of an amount is zero, enter    C Prepare a balance sheet as of July 31, 2012 Be sure to complete the statement heading, Fixed assets must be entered in order according to account number Refer to the Accounts, Labels and Arnourt Descriptions provided for the exact wording of tre answer choices for texternes  You will not need to enter colons() or the word  Less on the balance sheet they will automatically insert where necessary Negative amount should be indicated by the minus sign 9  A burratze the closing extremes on page 4 of the journal Refer to the Chart of Accounts for exact wording of account ories a Post the closing entries, inserting balances in me accounts anfected Leave the ITEM UT BLANK for each row if the account balance is zero (0) after closing entries are posted enter a zero (O) in the accounts normat balance column 10 Prepare a post closing trabalwe Chart of Accounts

Accepted Answer

The Answer is in the image, click to view ...

Question

Durance Insuctions For the past several years Stefly Lopez has operated a porttime consulting business from his home As of Jay 1, 2012 Setydeded to

Step by Step Solution

Step: 1

Get Instant Access to Expert-Tailored Solutions

Step: 2

Step: 3

Ace Your Homework with AI

Recommended Textbook for

The Psychology Of People In Organisations

Students also viewed these Accounting questions

Question

Question

Question

Question

Question

Question

Question

Question

Question

Question

Question

Question

Question

Question