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fill the charts need income statement, retained earnings statement, balance sheet everything filled correct thanks ll Gr Accounting Cycle Practice Problem Summer 2018 For the
fill the charts need income statement, retained earnings statement, balance sheet everything filled correct thanks
ll Gr Accounting Cycle Practice Problem Summer 2018 For the past several years, John Adidams has operated part-time business tom his heene A of Aprl 1, 2002, John deoided to move to rented quarters and to operaia the busiress, wih w was to be known as Addams & Family Ino, on a full-time basis Addams & Fanye the folewing transactions during Apri Apri 4 The folowing assets were received from John Addams cash, 40,0, urta recelvable, $1,500; suppies, 31,250, and office equipmont, 37,500 Thers were no liablities recelved Paid three months rent on a lease rental oontract $4,000 Apni 4 Paid the premium on property and casuaity insurance poicies for the year, $1,8140 Apri 6 Recelved cash from ciends as an advanoe payment for services to be provded April 4 ties mory casualty insurance poicies for the year $3,000 April 7 Purchased additional office furniture on accound from Morriton Company, 11,800 April Received cash from clients on account, $800 April 11 Paid cash for newspaper advertisement, $120 April 12 Paid Morriton Company $800 for debt incurred on April 7 April 15 Recorded services provided on account for the period April 4-15, $2,250 April 15 Paid part-time receptionist for two weeks salary, $400 April 15 Recorded cash from cash dlents for fees earned April 4-15, $3,175 Apri 1B Paid cash for supplies, $750 April 22 Recorded services provided on account for April 18-22, 31,100 Apri 22 Recorded cash from cash clients for fees eamed April 18-22, 11,850 Apii 25 Received cash from clients on account, $1,800 Api 27 Paid part-time receptionist for two week's salary, $400 April 28 Paid telephone bill for Apri, $130 April 29 Paid electric bill for April, $200 cash from cae on accou00 April 29 Recorded cash from cash clients for fees earned April 25-29, $2,050 April 29 Recorded services provided on account for April 25-29, $1,000 Apri 28 John received $4,500 from the company as his salary instructions: (The first transaction has been recorded and posted for you). 1. Record the transactions stated above in good general journal form 2. Post the transactions to T-accounts 3 Record and post the following adjustments: . Insurance expired in April, $150 b. Supplies on hand April 29, $1,020 c. Depreciation for the office equipment in April, $500 d Accrued receptionist salary on Apri 30, $20 e. Rent expired in April, $1,500 f Earned $2,000 of services that were previousty paid for on 4/6. 5. Prepare an Income Statement, Statement of Retained Earrings and Balance Sheet 6. Record and post closing entries 7 Prepare a post-closing trial balanceStep by Step Solution
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