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I really dont understand the order of the entries, please help!!! lehel wc C G III. Pedro Montalvo operates a company that provides geology and
I really dont understand the order of the entries, please help!!!
lehel wc C G III. Pedro Montalvo operates a company that provides geology and land survey services, the company is called PM Geologic Services. During the month of April it had the following transactions. The ending balances for March are as follows: Cash, $ 20,000, Accounts Receivable, $ 4,500, Supplies, $ 2,000 and Equipment, $ 11,500, Owner's Equity J, S 38,000. 1. Paid four months rent, S6,000. Pays four months rent, S 6,000 2. Paid premiums on insurance policies, $ 2,400. Pay your insurance policy premiums. 4. Received cash from clients as an advance for services to be provided, 2,700. He received cash from clients as an advance for services rendered. 5. Equipment purchased on account, $ 3,500. Equipment purchased on credit, $ 3.500. 6. Received cash from clients in accounts, $ 3.000 Received cash from clients on credit, S 3,000. 10. Paid cash for a newspaper ad, S 200. Pay cash for a newspaper ad, S 200. 12. Paid part of the debt owed on April 5, $ 750. Paid part of the debt owed on April 5 April, S 750 12. Registered services provide $ 5,100 on account. Records services provided on credit, $ 5,100. 14. Pay wages, $ 1,100. Pay wages, $ 1,100. 17. Recorded for services earned and paid, $ 6,500. Records obtained and services paid, S 6,500 18. Payment for supplies, $ 750. Supply payment, $ 750. 20. Registered services rendered on account, $ 3,100. Records for services rendered on credit, $ 3.100. 24. Recorded for services carned and paid, S 5,150. Earned and Paid Service Record, S 5,150 26. Received cash from clients in accounts, $ 6,900. Received cash from customers on credit, $ 6,900. 27. Paid for wages, $ 1,100 Paid for wages, S 1,100. 29. Pay the phone bill, $ 150. Pay the phone bill, S 150. 30. Pay the electricity bill, $ 400. Pay the electricity bill, $ 400. 30. Cash receipt from customers to bill, S 2,500. Received cash from customers on credit, S 2,500 30. Withdrew $ 5,000 from the business. Withdrew $ 5,000 from the business, The chart of account for the business are the following: Owner's Capital Owner's Drawing Service Revenues Salaries Expense Rent Expense Supplies Expense Income Summary Accounts Payable Salaries Payable Insurance Expense Cash Accounts Receivable Supplies Prepaid Rent Prepaid Insurance Equipment Accumulated Depreciation Equipment Miscellaneous Expense Unearned revenue Depreciation Expense Equipment Instructions: (80 points) 1. Make all the above transactions. 2. Post the entries to the T accounts. 3. Prepare an Unadjusted Trial Balance. 4. Prepare a "worksheet" with the balances obtained from the T accounts. 5. Make the following adjustments entries for the month of April. Then post them in the worksheet". to. a Insurance expired is $ 200 (Insurances expired $ 200). b. Supplies on hand are $ 650 (Supplies available S 650). c. Depreciation of equipment is $ 250, d. Accrued salary is $ 220 (Accumulated wages $ 220). and. e. Rent expired is $ 2,000 (Rent expired $ 2,000). f. Uncamned foes are $ 1,875. Income not generated but eamed, $ 1,875). 6. Prepare an Adjusted Trial Balance, 7. Prepare an Income Statement, 8. Prepare a Statement of Owner's equity. 9. Prepare a Balance Sheet WAP.AR a thawlias Cues are Step by Step Solution
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