I NEED THE ADJUSTED TRIAL BALANCE FROM THE 3 MONTHS GIVEN

MY ERRRORS WERE WITH CASH, PREPAID RENT, ACCOUNTS PAYABLE, WAGES PAYABLE, AND WAGES EXPENSE.

PLEASE CONCENTRATE ON THOSE 5 AREAS. THANKS

The following events occur in July, 2018:

July 1: You take $10,000 from your personal savings account and buy common stock in Peyton Approved.

July 1: Purchase $6,500 in baking supplies from vendor, on account.

July 3: Your parents lend the company $10,000 cash in exchange for a two-year, 6% note payable. Interest and the principal are repayable at maturity.

July 7: Enter into a lease agreement for bakery space. The agreement is for 1 year. The rent is $1,500 per month, and the last months rent payment of $1,500 is required at time of lease agreement. The payment was made in cash. Lease period is effective July 1, 2018, through June 30, 2019.

July 10: Pay $375 to the county for a business license.

July 11: Purchase a cash register for $250 (deemed to be not material enough to qualify as depreciable equipmentuse misc. exp.).

July 13: You have baking equipment, including an oven and mixer, which you have been using for your home-based business and will now start using in the bakery. You estimate that the equipment is currently worth $6,000, and you transfer the equipment into the business in exchange for additional common stock. The equipment has a 5-year useful life.

July 13: Pay $200 for business cards/flyers/posters/ads to use for advertising.

July 14: Pay $300 for office supplies.

July 15: Hire part-time helper to be paid $12 per hour. Pay periods are the 1st through the 15th and 16th through the end of the month, with paydays being the 20th for the first pay period and the 5th of the following month for the second pay period. (No entry is required on this date; it is here for informational purposes only.)

July 30: Received telephone bill for July in amount of $75. Payment is due on August 10.

July 31: Pay $2,400 for a 12-month insurance policy. Policy effective dates are August 1, 2018, through July 31, 2019.

July 31: Accrue wages earned for employee for period of 16th through 31st of July (Wage calculations table provided below).

July 31: Total July bakery sales were $15,000. $5,000 of these sales are on accounts receivable.

The following events occur in August, 2018:

August 5: Paid employee for period ending 7/31.

August 8: Receive payments from customers towards accounts receivable in amount of $3,800.

August 10: Paid July telephone bill. August 15: Purchase additional baking supplies in amount of $5,000 from vendor, on account.

August 15: Accrue wages earned for employee from period of 1st through 15th of August (Wage calculations table provided below).

August 15: Pay rent on bakery space. $1500

August 18: Receive payments from customers towards accounts receivable in amount of $3,000.

August 20: Paid $8,500 toward baking supplies vendor payable.

August 20: Pay employee for period ending 8/15.

August 22: $300 in office supplies purchased.

August 31: Received telephone bill for August in amount of $75. Payment is due on September 10.

August 31: Accrue wages earned for employee for period of August 16th through August 31st (Wage calculations table provided below).

August 31: August bakery sales total $20,000. $7,500 of this total is on accounts receivable.

The following events occur in September, 2018:

September 1: Paid dividends to self in amount of $10,000.

September 5: Pay employee for period ending 8/31. September 7: Purchase merchandise for resale. See Inventory Valuation tab for details.

September 8: Receive payments from customers toward accounts receivable in amount of $4,000.

September 10: Pay August telephone bill.

September 11: Purchase baking supplies in amount of $7,000 from vendor on account.

September 13: Paid on supplies vendor account in amount of $5,000. September 15: Accrue employee wages for period of September 1 through September 15.

September 15: Pay rent on bakery space $1500

September 15: Record merchandise sales transaction. See Inventory Valuation tab for details.

September 15: Record impact of sales transaction on COGS and the inventory asset. See Inventory Valuation tab for details.

September 20: Pay employee for period ending 9/15.

September 20: Purchase merchandise inventory for resale to customers. See Inventory Valuation tab for details.

September 24: Record sales of merchandise to customers. See Inventory Valuation tab for details.

September 24: Record impact of sales transaction on COGS and the inventory asset. See Inventory Valuation tab for details.

September 30: Purchase merchandise inventory for resale to customers. See Inventory Valuation tab for details.

September 30: Accrue employee wages for period of September 16th through September 30th

September 30: Total September bakery sales are $20,000. $6000 of these sales afre on accounts receivable

On September 30, the following adjustments must be made:

[Note: This is a sample.] Depreciation of baking equipment transferred to company on 7/13. Assume a half month of depreciation in July using the straight-line method.

Accrue interest for note payable. Assume a full month of interest for July. (6% annual interest on $10,000 loan from parents.)

Record insurance used for the year. Actual baking supplies on-hand as of September 30 are $1,100.

Miscellaneous supplies on-hand as of September 30 are $50.

ADJUSTIING JOURNAL ENTRIES

30 SEP Depreciation Expense 208.33

Accumulated Depreciation 208.33

30 SEP Interest Expense 150.00

Interest Payable 150.00

30 SEP Insurance Expense 400.00

Prepaid Insurance 400.00

30 SEP Baking Supplies Expense 17,400.00

Baking Supplies 17,400.00

30 SEP Misc Supplies Expense 550.00

Misc Supplies 550.00

Wage Calculation Data: Month Hours Rate Pay

31 Jul. 10 12 120

15 Aug. 40 12 480

31 Aug. 35 12 420

15 Sep. 38 12 456

30 Sep. 40 12 480