Instructions

QuickBooks Consulting Co. (QBCC) started business on September 1, 2017. You have been hired as the accountant to complete the following:

Journalize QBCCs first month of transactions in the general journal (descriptions notnecessary).

Post every journal entry recorded in the general journal to the general ledger.

Prepare an unadjusted trial balance at September 30, 2017 (Check Figure $103,210)

Journalize and post adjusting journal entries based on the adjustments data provided.

Prepare an adjusted trial balance at September 30, 2017 (Check Figure $108,660)

Prepare financial statements for QBCC for the month of September 2017. (Check Figure Total Assets $101,820)

Journalize and post-closing entries for September.

Prepare a post-closing trial balance at September 30, 2017 (Check Figure $102,070)

Here are the transactions for QBCC in September (first month of operations).

1.	Sep. 2	Friends and family contributed $60,000 to the business by buying the private stock of QuickBooks Consulting Co.
2.	Sep. 4	Purchased an annual insurance policy for $3,600. QBCC paid $1,000 immediately, with the balance due in 30 days.
3.	Sep. 5	Purchased an automobile that will be used to visit clients for $15,500 on account.
4.	Sep. 7	Purchased supplies for $520 cash.
5.	Sep. 10	Issued check for $1,700 to pay rent for September.
6.	Sep. 14	Performed consulting services for $17,750 cash.
7.	Sep. 20	Received $7,000 from a customer as an advance for consulting services to be performed in the remainder of September, October and November. [Hint: Amount should be recognized proportionately over the 21?3 months.]
8.	Sep. 27	Received an electricity bill for September for $360, payable in 30 days.
9.	Sep. 29	Withdrew $2,000 as a dividend.

Record adjusting entries for the month of September only.

Record Septembers expired insurance expense.

Depreciation of automobile, $250. Record depreciation expense.

Supplies remaining at the end of the month, $340. Record supplies used.

Revenue earned from cash advance received from customer on September 20. Record 10 days only.

Services performed in September, $3,400, but cash not yet received. Record amount due from customers.

Accrued salaries for September, $1,800.

Chart of Accounts

Cash Accounts Receivable

Prepaid Insurance

Supplies Automobile Accumulated Depreciation

Accounts Payable

Unearned Service Revenue

Salaries Payable Common Stock Retained Earnings

Dividends

Income Summary

Service Revenue

Rent Expense

Utilities Expense

Insurance Expense

Depreciation Expense

Supplies Expense

Salaries Expense