I need help with Part 2. Use the information from Part 1 to do Part 2.

eBook Sprendahet Print item Complete accounting cycle, Part 2 co Instruction Chart of Accounts Labels and Amount Descriptions Journal Lodgor Income Statement Instructions For the past several years, Stony Lopez has operated a pantime consulting business from a home. As of July 1, 2018 Sully decided to move to rented quarters and to operate the business, which was to be known as Diamond Consulting, on a t-time basis. Diamond Consulting entered into transactions during . In Part 1 of the problem, the aunting de was completed up through the preparation of the adjusted balance Required: 8 AW you completed the end of period work sheet Part 1, use the custod ay balance figures to prepare an income statement for the month anded Jay 31, 2018 Be sure to complete the statement reading. Ila netis has been incurred, enter that amount as a negative number using a minus sign Refer to the Accounts. Label and Amount Descriptions provided for the exact wording of the answer choice for our entries. You will not need to enter colons on the income statement B. If you completed the end of period work sheet in Part 1, use the dusted trial balance igures to prepare a retained earnings statement for the month ended wy 31, 2018. Be sure to complete the statement heading Negative amount should be indicated by the minus sign Refer to the Accounts, Labels and Amount Descriptions provided for the exact wording of the answer choices for text entries an amount a zwo, anter 0 C you completed the end-of-period work sheet in Part 1, use the dusted trial balance pures to prepare a bushtet as of Juy 31, 2018 Be sure to complete the statement heading Fixed assets must be entered in order according to account number. Heter to the Accounts, Label and Amount Descriptions provided for the exact wording of the answer choices for text entries. You will not need to enter colons on Check My Work Previous Complete accounting cycle, Part 2 Instructions Chart of Accounts Labels and Amount Descriptions Journal Ledger Income Statement Instructions using a minus sign. Refer to the Accounts, Labels and Amount Descriptions provided for the exact wording of the answer choices for text entries. You will not need to enter colons () on the income statement B. If you completed the end-of-period work sheet in Part 1, use the adjusted trial balance figures to propare a retained earnings statement for the month ended July 31, 2018. Be sure to complete the statement hending. Negative amount should be indicated by the minus sign. Refer to the Accounts, Labels and Amount Descriptions provided for the exact wording of the answer choices for text entries. I an amount is zero, enter "0" C. W you completed the end-of-period work sheet in Part 1, use the adjusted trial balance figures to prepare a balance sheet as of July 31, 2018 Be sure to complete the statement heading, Fixed assets must be entered in order according to account number. Refer to the Accounts, Labels and Amount Descriptions provided for the exact wording of the answer choices for text entries. You will not need to enter colons() on the balance sheet, they will automatically insert where necessary, Negative amount should be indicated by the minus sign: 9. A. Journalize the closing entries on page 4 of the journal. Closing entries are recorded on July 31. Refer to the Chart of Accounts for exact wording of account titles B. Use the spreadsheet to post the closing entries to the ledger of four column accounts. Add the appropriate posting reference to the journal in CengageNow Prepare a post-closing trial balance. Check My Work Save and Exit Submit . Book Spreadsheet Printem A Journaire the contes on page of the journal. Closing tries are recorded on wy 31 9. B. Add the appropriate posting rolwerown to the oumal in CengageNow PAGE 4 JOURNAL ACCOUNTING EQUATION DATE DESTION YOUTH CHER MEN LAM EQUITY Closing Entries 11 Previous Check My Work Save and Exit Submit Assignment for Grading All work saved *A jou completed the end of gered worksheet Partsuse the dusted balance pures to prepare and come statement for the most ended wy 31, 2018 Be sure to complet the statement heading War net loss has been reunat enter that amount as a negative number ang ama signRefer to the Accounts, els and Amount Descriptions provided for the exact wording of the armwer choice for text entries. You will not need tortor colene (on the content, Diamond Consulting Income Statement (Label 1 1 Previous ack My Work All work saved Save and Edit Submit Assignment for Grading Complete accounting cycle, Part 2 Instructions Chart of Account Libol and Amount Descriptions Journal Ledger Income Statement Retained Earnings Statement 8. you completed the end of period work sheet in Part use the adjusted trial balance Ligured to prepare and caring statement for the month ended July 31 2018. Be sure 10 complete me statement heading Negative amount should be indicated by the minussion. Hefer to me Accounts. Label and Amount Descriptions provided for the act ording of the answer choices for monteres an amount is zero, entero Diamond Consuting Retained Earnings Statement 2 (Label 1 1 3 4 5 ebook Spreadsheet Print om 8. C. you completed the end of period work shoot in Putt. use the conted rabatance figures to prepare a contince sheet as of 31, 2018 Be sure to complete the statement heading, Flend assets must be entered in order according to account sumber Refer to the Account Labels and Amount Descriptions provided for the exact wording of how choors for text artries. You wird need to enter colors (on the lance sheet; they will automatically inert where necessary. Negative amount should be indicated by the minus up Diamond Consulting Balance Sheet (Label) 1 Assets Label 1 . 1 . 11 11 12 Check My Work Supplies + Prepaid Rent Prepaid Insurance + Office Equipment Accumulated Depreciation Accounts Payable Salaries Payable 1. Uneamed Fees 11 Common Stock 12 Retained Earnings 13 Totals Check My Work All work saved Save and Exit Submit Assign Instructions For the past several years, Stelty Lopez has operated a part-time consulting business from his home. As of July 1, 2018 Sully decided to move to rented quarters and to operate business, which was to be known as Diamond Consulting, on a full-time basis Diamond Consulting entered into the following transaction during Aul 1 The following sets were received from Shafty Lopez in exchange for common stock cah, 313.500 accounts receivable, 520,600, upples, 53,900 and office equipment. 57.800There were not received Paid two months rent on a fase rental contract, 54.800 2 Paid the annual premiums on property and casualty insurance policies, $4.600 Received cash from clients as an advance payment for services to be provided, and recorded it as unoamned foes. $5,500 5 Purchased additional office equipment on account from Office Station Co. $6.500 Received cash from clients on account. 515,300 6 10 Paid cash for a newspaper advertisement $400 12 Paid Office Station Co. for part of the debt incurred on July 5.5.200 12 Recorded services provided on account for the period July 1-12, $13,300 Paid receptionist for two weeks'salary, $1,750 14 Previous Next > Instructions Record the following transactions on Page 2 of the jumat Jul 17 Recorded cash from cash clients for fous tarned during the period July 1-17.59450 18 Paid cash for supplies, S600 20 Recorded services provided on account for the period July 13-20.80.650. Recorded cash from cash clients for teen earned for the period July 17-24, 54.000 24 20 Received cash from clients on account, $12,000 27 Paid receptionist for two weeks, 51.750 20 Paid telephone bill for July, 5325 Paid electricity bill for July $676. Recorded cash from cash clients for foes earned for the period July 25-31. 55.200 5 5 5 5 Recorded services provided on account for the remainder of July, 53,000 Paid dividends, $12,500 Required: 1. Journalce each transaction in a two-column Journal starting on Page 1. referring to the chart of accounts in selecting the accounts to be debited and credited. (Do not insert the account numbers in the journal at this time) Previous Next ok My Work ebook Spreadsheet Print Item Instructions 1. Jumat. ach transaction in a two-column jumal starting on Page 1. ring to the chart of lecting out to be doned and credited. (Do not insert the account numbers in the jumalat his time) 2. A Poul the journal ander of our color Download the spreadsheet in the Ledger panel and save the Excel se to your computer. Use the spreadsheet to post the transactions from the journal to a ledger of four column accounts. Be sure to save your work in Excel as it will be used to complete the following steps in Part 1 of this problem as well as steps in Part 2 of this problem. Your input into the spreadsheet will not be included in your grade in CengageNOW on this problem B. Add the appropriate posting reference to the journal in CengageNow 3. Prepare an unudusted bra balance of an amount box does not require any, lavet blank 4. At the end of the following adustment data were assembled. Analyse and use these date to complete requruments (5) and (8) A. Insurance expired during July $378 B. Supplies on hand on July 31 are $1,575 c. Dupreciation of office equipment for July is 8750 D. Accrued receptionist salwy on Any 3165175 E pont expired during July is $2.400 F Unearned foes only 31 we $2.750. 8 Option on your own paper or spreadsheet entor e unadjusted trial balance on an end-o period work shoot and complete the work show Find a blank end of period worksheet in the Excel spreadsheet you previously downloaded Assignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogres Print Item eBook Spreadsheet HOW OPS cong WORK Diamond Consulting Score: 62/62 UNADJUSTED TRIAL BALANCE July 31, 2018 ACCOUNT TITLE DEBIT CREDIT 1 Cash 32,450.00 2 Accounts Receivable 16,450.00 3 Supplies 4 Prepaid Rent 3,800.00 4,800.00 4,500.00 14,000.00 $ Prepaid Insurance 6 Office Equipment 7 Accumulated Depreciation Accounts Payable 1,300.00 9 Salaries Payable 10 Uneamed Fees 5,500.00 45,000.00 11 Common Stock 12 Retained Earnings 15 Dividends 12,500.00 14 Fees Earned 41,600.00 15 Salary Expense 3,500.00 Check My Work All work saved. s A li eBook Spreadsheet Print Item 6 Office Equipment 14,000.00 7 Accumulated Depreciation 8 Accounts Payable 1,300.00 9 Salaries Payable 10 Unearned Fees 5,500.00 11 Common Sto 45,000.00 12 Retained Earnings 13 Dividends 12,500.00 14 Fees Earned 41,600.00 15 Salary Expense 3,500.00 16 Rent Expense 17 Supplies Expense 13 Depreciation Expense 19 Insurance Expense 20 Miscellaneous Expense 1,400.00 21 Totals 93,400.00 93,400.00 NE Check My Work All work saved N @ 6 a