having a difficult time with this assignment, can you assist?

Week 2 Homework Template Problem 3-2B: (a) Show the effects of each transaction on the accounting equation. Enter each amount in the proper column. Assume the note payable is to be repaid within the year. REMEMBER: each transaction affects TWO accounts! Use the + or - signs to indicate whether the amount increased or decreased the account. Total up each account in the last line of the worksheet then \"check\" your work by totaling up Assets, Liabilities and Equity. Put each transaction on a separate line. Remember the accounting equation: assets = liabilities + equity. Note any changes in Retained Earnings on the page below the worksheet. (a) Assets Date = + Accounts = Receivable + Supplies + Equipment Cash WALZ SERVICE INC. Liabilities Notes Payable + Accounts + Payable + Stockholders' Equity Common Stock Retained Earnings + Revenues - Expenses June 1 d Totals $ $ Total of All Columns under Assets Total of All columns under Liabilities & Stockholder's Equity - Dividends (a) Continued Changes in Retained Earnings: (b) Prepare an Income Statement for June WALZ SERVICE INC. Income Statement For the Month Ended June, 30, 2014 Revenues Account title Expenses Account title Account title Account title Account title Total expenses Net income (Part C is on the next page) Amount Amount Amount Amount Amount Amount Amount (c) Prepare a Classified balance sheet at June 30, 2014 (Remember, assets and liabilities + equity MUST equal). If it doesn't, there is an error somewhere). WALZ SERVICE Inc. Balance Sheet June 30, 2014 Assets Current assets Account title Account title Account title Total current assets Account title Total assets Amount Amount Amount Liabilities and Stockholders' Equity Current liabilities Account title Amount Account title Amount Total current liabilities Stockholders' equity Account title Amount Account title Amount Total liabilities and stockholders' equity Problem 3-5B is on the next page. Amount Amount Amount Amount Amount Amount (a) Journalize the transactions, including explanations. (Note, enter all accounts in one box. The dates have been included to help with formatting). Remember that every transaction affects TWO accounts! Account Titles and Explanation Date May 1 2 3 7 11 12 17 31 31 Part B is on the next page. Debit Credit PROBLEM 3-5B (Continued) (b) Post the transactions to the ledger T Accounts Be sure to post the amounts to the correct side of the T-Account! Salaries and Wages Expense Cash Bal. Bal. Rent Expense Accounts Receivable Bal. Bal. Supplies Bal. Accounts Payable Bal. Unearned Service Revenue Bal. Common Stock Bal. Service Revenue Bal. PROBLEM 3-5B (Continued) Prepare a Trial Balance on May 31, 2014. (c) Account Name ROYCE CONSULTING Trial Balance May 31, 2014 Debit Credit Total E4-13. Answer questions A through D. Remember to show your calculations! (Add more space as necessary). (E 4-14 is on the next page). E4-14. Prepare the closing entries at January 31, 2014. (Enter all accounts for each transaction in one box. Dates have been provided). Account Titles and Explanation Date Jan Debit Credit 31 31 31 E4-15. Journalize (a) the July transactions and (b) adjusting entries that were made on July 31. Enter all accounts in one box. Dates have been provided. Part A Date July Account Titles and Explanation Debit Credit Account Titles and Explanation Debit Credit 10 14 15 20 Part B July 10 14 15 20 E4-16 Prepare the adjusting entries that were made: (a) Enter all accounts in one box. The dates have been included to help with formatting. Account Titles and Explanation Date Aug Debit Credit 31 31 31 31 31 31 E4-17 Prepare the income statement and retained earnings statements for the year and the classified balance sheet at August 31. BERE COMPANY Income Statement For the Month Ended August 31, 2014 Revenues Account title Account title Total Revenues Expenses Account title Account title Account title Account title Account title Total expenses Net income (Continued on next page) Amount Amount Amount Amount Amount Amount Amount Amount Amount BERE COMPANY Retained Earnings Statement For the Month Ended August 31, 2014 Retained earnings, September 1, 2011 Add: Account title Less: Account title Retained earnings, August 31, 2012 Amount Amount Total Amount Total BERE COMPANY Balance Sheet August 31, 2014 Assets Current assets Account title Account title Account title Account title Total current assets Account title Total assets Amount Amount Amount Amount Liabilities and Stockholders' Equity Current liabilities Account title Amount Account title Amount Account title Amount Total current liabilities Stockholders' equity Account title Amount Account title Amount Total stockholder's equity Total liabilities and stockholders' equity Exercise 4-18 is on the next page Amount Amount Amount Amount Amount Amount Exercise 4-18 (a) Prepare the closing entries for the temporary accounts at August 31. (Note, enter all accounts in one box. The dates have been included to help with formatting). Account Titles and Explanation Date Aug 31 31 31 31 Debit Credit