Food 4 Thought entered into the following transactions during July:

July 1.		The following assets were received from owner as an investment: cash, $19,000; accounts receivable, $22,300; supplies, $3,800; and office equipment, $8,900.
1.		Paid three months' rent on a lease rental contract, $6,000.
2.		Paid the premiums on property and casualty insurance policies, $4,500.
4.		Received cash from clients as an advance payment for services to be provided and recorded it as unearned fees, $8,000.
5.		Purchased additional office equipment on account, $5,100.
6.		Received cash from clients on account, $12,750.
12.		Paid for the debt incurred on July 5, $3,000.
12.		Provided services on account for the period July 112, $14,200.
14.		Paid receptionist for two weeks' salary, $1,500.

17.		Received cash from cash clients for fees earned during the period July 117, $10,400.
18.		Paid cash for supplies, $1,000.
24.		Received cash from cash clients for fees earned for the period July 1724, $8,500.
26.		Received cash from clients on account, $12,000.
27.		Paid receptionist for two weeks' salary, $1,500.
29.		Paid telephone bill for July, $325.
31.		Provided services on account for the remainder of July, $5,500.
31.		Withdrew $20,000 for personal use.

Instructions

Complete the accounting cycle for the above.

Adjusting entries are below.

Adjusting Entries.

1. 1. Insurance expired during July is $375.

   2. Supplies on hand on July 31 are $2,850.

   3. Depreciation of office equipment for July is $400.

   4. Accrued receptionist salary on July 31 is $140.

   5. Rent expired during July is $2,000.

   6. Unearned fees on July 31 are $3,000.

      assets=liabilities+owners equity

you do not have to put a income summary.

do not include income summary.

Question 1 100 p Food 4 Thought entered into the following transactions during July: July 1. The following assets were received from owner as an investment: cash, $19,000; accounts receivable, $22,300; supplies, $3,800; and office equipment, $8.900. 1. Paid three months' rent on a lease rental contract. $6,000. 2. Paid the premiums on property and casualty insurance policies, $4,500 4. Received cash from clients as an advance payment for services to be provided and recorded it as unearned fees, $8,000 . Purchased additional office equipment on account, $5,100. 6. Received cash from clients on account. $12.750. 12 Paid for the debt incurred on July 5, $3,000. 12. Provided services on account for the period July 1-12 $14.200. 14 Paid receptionist for two weeks salary: $1.500. 5. 17 18 24 Received cash from cash clients for fees earned during the period July 1-17. $10.400 Paid cash for supplies. $1.000. Received cash from cash clients for fees earned for the period July 17-24, $8.500 re 4. er 5. 6. 12 Received cash from clients as an advance payment for services to be provided and recorded it as unearned fees, $8,000. Purchased additional office equipment on account, $5,100. Received cash from clients on account, $12,750. Paid for the debt incurred on July 5, $3,000. Provided services on account for the period July 1-12, $14,200 Paid receptionist for two weeks' salary: $1,500. arian 12. ht - 14. 17. 18. 24. 26. 27 29. 31 Received cash from cash clients for fees cared during the period July 1-17, $10,400. Paid cash for supplies, $1,000 Received cash from cash clients for fees eamed for the period July 17-24. $6,500 Received cash from clients on account. $12,000, Paid receptionist for two weeks' salary, $1.500. Paid telephone bill for July $325. Provided services on account for the remainder of July, $5.500 Withdrew $20,000 for personal use. 31 Instructions Complete the accounting cycle for the above. Adjusting entries are below. Adiusting Entries 26. 27. 29. 31. Received cash from clients on account, $12,000. Paid receptionist for two weeks' salary, $1,500. Paid telephone bill for July, $325. Provided services on account for the remainder of July, $5,500. Withdrew $20,000 for personal use. 31. Instructions Complete the accounting cycle for the above. Adjusting entries are below. Adjusting Entries 1. Insurance expired during July is $375 2. Supplies on hand on July 31 are $2,850. 3. Depreciation of office equipment for July is $400. 4. Accrued receptionist salary on July 31 is $140. 5. Rent expired during July is $2.000 6. Unearned fees on July 31 are $3.000 Edit View insert Format Tools Table