Goodness Bakery is abusiness nestled in Preston, dedicated to offering a wide variety of freshly baked goodies With an emphasis on premium ingredients and traditional baking processes, Goodness Bakery is tasked with providingfood services to its customers Additionally, Goodness Bakery is organized as a partnership company The first reason I chose partnership as a form of organization is because of my limited financial resources Starting a business requires a significant amount of capital for various purposes so the private company structure with higher financial demands, does not enable me to establish a business Secondly, since the current objective is to focus on providing high quality baked goods, the public company structure which involves complex legal obligations is not conducive tocompany'sapproach With the partnership, I can combine assets, share responsibilities and tap into a broader range of skills and resources Information 2 Here is a general journal Date Accounts and Explanation Debit Credit Aug 01 Cash 140,000 Huyen, partner, capital 140,000 Owners contribution Aug 03 Equipment 65,000 Account payable 65,000 Purchased equiment on credit Aug 05 Initial Inventory 12,000 Account payable 12,000 Paid Initial Inventory $12 000 on credit Aug 05 Ingredients 7,000 Cash 7,000 Purchased ofIngredients Aug 06 Marketing Expense 2,700 Account payable 2,700 Paid for marketing on credit Aug 11 Account receivable 6,800 Service revenue 6,800 Performed services for customers Aug 17 Account receivable 5,700 Service revenue 5,700 Performed services for customers Aug 19 Account receivable 2,300 Service revenue 2,300 Performed services for customers Aug 20 Account receivable 7,400 Service revenue 7,400 Performed services for customers Aug 22 Rent expense 15,000 Cash 15,000 Paid 3 month rent with cash Aug 24 Taxable Income expense 1,200 Account payable 1,200 Paid Taxable Income on credit Aug 24 Income Tax expense 400 Account payable 400 Paid Income Tax on credit Aug 28 Salaries expense 8,500 Cash 8,500 Paid monthly salary toemployees Aug 31 Water charges 300 Account payable 300 Paid monthly electric and gas on credit Aug 31 Electricity and Gas expense 700 Account payable 700 Paid monthly electric and gas on credit Question 1 Post the transactions recorded in your General Journal into the ledger accounts (T Accounts ensuring they are all in the month of August) include dates and cross references Prepare the unadjusted Trial balance Question 2 Assuming it is the end of August, identify and post 5 adjusting entries, ensuring they are all different types of entries The amounts and items recorded should be related to the information 1 and 2 Record the adjusting entries in the General Journal (include dates and narrations) and post them to the ledger accounts (T Accounts include dates and cross references) Prepare the adjusted Trial Balance

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Goodness Bakery is abusiness nestled in Preston, dedicated to offering a wide variety of freshly baked goodies. With an emphasis on premium ingredients and traditional

Goodness Bakery is a business nestled in Preston, dedicated to offering a wide variety of freshly baked goodies. With an emphasis on premium ingredients and traditional baking processes, Goodness Bakery is tasked with providing food services to its customers. Additionally, Goodness Bakery is organized as a partnership company.

The first reason I chose partnership as a form of organization is because of my limited financial resources. Starting a business requires a significant amount of capital for various purposes so the private company structure with higher financial demands, does not enable me to establish a business. Secondly, since the current objective is to focus on providing high-quality baked goods, the public company structure which involves complex legal obligations is not conducive to company's approach. With the partnership, I can combine assets, share responsibilities and tap into a broader range of skills and resources.
Information 2
Here is a general journal

Date	Accounts and Explanation	Debit	Credit
Aug-01	Cash	140,000
	Huyen, partner, capital		140,000
	Owners contribution

Aug-03	Equipment	65,000
	Account payable		65,000
	Purchased equiment on credit

Aug-05	Initial Inventory	12,000
	Account payable		12,000
	Paid Initial Inventory $12.000 on credit.

Aug-05	Ingredients	7,000
	Cash		7,000
	Purchased of Ingredients

Aug-06	Marketing Expense	2,700
	Account payable		2,700
	Paid for marketing on credit

Aug-11	Account receivable	6,800
	Service revenue		6,800
	Performed services for customers

Aug-17	Account receivable	5,700
	Service revenue		5,700
	Performed services for customers

Aug-19	Account receivable	2,300
	Service revenue		2,300
	Performed services for customers

Aug-20	Account receivable	7,400
	Service revenue		7,400
	Performed services for customers

Aug-22	Rent expense	15,000
	Cash		15,000
	Paid 3-month rent with cash

Aug-24	Taxable Income expense	1,200
	Account payable		1,200
	Paid Taxable Income on credit

Aug-24	Income Tax expense	400
	Account payable		400
	Paid Income Tax on credit

Aug-28	Salaries expense	8,500
	Cash		8,500
	Paid monthly salary to employees.
Aug-31	Water charges	300
	Account payable		300
	Paid monthly electric and gas on credit

Aug-31	Electricity and Gas expense	700
	Account payable		700
	Paid monthly electric and gas on credit

Question 1: Post the transactions recorded in your General Journal into the ledger accounts (T.Accounts - ensuring they are all in the month of August); include dates and cross references. Prepare the unadjusted Trial balance.

Question 2: Assuming it is the end of August, identify and post 5 adjusting entries, ensuring they are all different types of entries. The amounts and items recorded should be related to the information 1 and 2. Record the adjusting entries in the General Journal (include dates and narrations) and post them to the ledger accounts (T.Accounts - include dates and cross-references). Prepare the adjusted Trial Balance.