Question
Hello! I would really appreciate if you can help me with this problem below. Thank you so much! Please make an Adjusted Trial Balance and
Hello! I would really appreciate if you can help me with this problem below. Thank you so much!
Please make an Adjusted Trial Balance and a Multi-Step Income Statement for the month ended July for the company "Nikea", using the adjusting entries below:
July 1 Owner's Investment of $ 310,000
2 Purchased $6,000 worth of Computers with economical lifespan of 5 year, residual value of $1,500
3 Nikea paid $1,500 for electricity
4 Purchased on Account $30,000 worth of Inventory
5 Paid Transport worth of $2,500
7 Received $11,300 from sales across all the Nikea stores
10 Performed services on account $1100
13 Sold shoe care products to another business, supplies worth of $1,500
14 Paid $750 to a cleaning company for disinfection for all our stores
17 Received cash for services performed on July 10th
22 Withdrew cash worth $1200 for personal use
25 Received Cash worth of $8000 for goods sold.
26 Paid Salaries for the month of July $15000
28 Received Cash $13,000 for goods sold.
30 Made a partial payment worth of $15,000 for the supplies purchased on account on July 4th
30 Received cash worth of $6,000 from goods sold across all Nikea stores.
31 Recorded Monthly depreciation of $75 for 15 computers bought at the beginning of the month
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