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help me solve this please. Q.no.1. Manny Gill is an entrepreneur who started West Secure, a business that provides number of security guard services, West
help me solve this please.
Q.no.1. Manny Gill is an entrepreneur who started West Secure, a business that provides number of security guard services, West Secure incurred the following transactions during July 2017, its first month of operations. Marks 30 July 1" The owner, Manny Gill invested $ 5,000 cash. 10 Purchased $ 2,500 worth of security equipment on credit 12 Performed security services for a sold out concert and received 10,000 cash 14 Paid for expenses $ 3,500 15 Completed security services for a graduation event and sent the client a bill for $ 1,500 31* The owner withdrew $ 250 cash for personal use Required: 1. Set up the following general ledger accounts using either the T-account format or the balance column format: Cash 101, Accounts Receivable 106, Equipment 150, Accounts Payable 201, Manny Gil, Capital 301, Manny Gill, Withdrawals 302, Revenue 401, Expenses 501. 2. Record the journal entries for the month of July. 3. Post the journal entries to general ledger accounts and determine the balances 4. Prepare a trial balance, income statement, statement of changes in equity and balance sheet Step by Step Solution
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