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Help please! Nate Hanks incorporated Hanks Legal Pty Ltd, a law practice, on 1 July 2020. The following events occurred in the month of July.
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Nate Hanks incorporated Hanks Legal Pty Ltd, a law practice, on 1 July 2020. The following events occurred in the month of July. July 1Shareholders invested $96 000 cash in exchange for company shares 3 Hired a solicitor at a salary of $4000 per month. 4Purchased office supplies on account from Muji Supply Ltd for $2500. 7 Paid office rent of $3400 for the month of July. 11 Invoiced clients $4900 for legal services provided. 12 Received $5000 advance from a client for legal consulting engagement. 17 Received cash of $1900 for a completed legal case. (Not related to July 11 transaction) 31 Paid solicitor salary of $4000. 31 Paid 60 percent of amount owing to muji Supply Ltd. Required a) Journalise the transactions, narrations not required. (13 Marks) b) Prepare an unadjusted trial balance as at 31 July 2020. (7 Marks) (Total 20 Marks)Step by Step Solution
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