Joey Juno began a web-based computer sales and service company on August 1, 2015 called Juno's Toys Inc. The plan is to prepare monthly adjustments so that financial statements can be done each month. The following information is available for August 2015 (assume a perpetual inventory system). August 1 Joey invested S10,000 cash along with $9,000 of computer equipment into his new business in exchange for 800 shares. The equipment is estimated to have a useful life of 2 years and have no value after that time. Purchased 10 months worth of insurance for S1,300 cash; the insurance is effective immediately 1517.000 af merchandise was purchased from Ludwig Inc. on account: terms 1/10,n30. 3 Purchased $10,000 of merchandise inventory from Oppang Corporation; terms 1/10,n30: FOB shipping point 4 Received the August 3, 2015 purchase and paid cash of $150 for shipping. a Sold merchandise to Joe Sixpack that cost $2,800 for $3,600; terms 1/15,n30. 9 Bought $400 af affice supplies, paid cash. 11 Paid for the merchandise purchased from Oppong Corporation on August 3, 2015 12 Bought used office furniture for $1,800 cash. It is estimated that the business will use the furniture for 3 years and then donate it to a charity. 15 The customer of August 8, 2015 returned $500 of their purchase due to defects; the returned merchandise will not be returned to inventory 20 Collected the balance owing regarding the August 8, 2015 sale. 20 Paid for the merchandise purchased from Ludwig Inc. on August 1, 2015 20 Sold merchandise to Joe Sixpack that cost $5,500 for $6,300 cash. Additional information available at month end, August 31: Acount of the office supplies showed a balance on August 31 of $40. The merchandise inventory was counted and there was a balance on hand at August 31 of $17,900. The August utility bill arrived from Epcor Utility Company; the $600 balance owing must be paid by September 15, 2015. Please make sure your final answer(s) are accurate to 2 decimal places. Enter an appropriate description when entering the transactions in the journal. Dates must be entered in the format ddimmm (ie. January 15 would be 15/Jan). For each journal entry, indicate how each account affects the balance sheet (Assets, Liabilities, Equity). Use + for increase and for decrease. For example, if an account decreases equity, choose' Equity Prepare the journal entries based on the transactions that occurred from August 1 to August 31. Also, record the six adjusting entries for the month ended August 31 based on the additional information and a review of the August transactions. Journal entries Adjusting entries: General Journal Page GU1 Efect on General Journal Page Gj1 Effect On Date Accountanation F Debit Credit Balance Sheet Date Account Explanation F Detit Credit Balance Sheet Joey Juno began a web-based computer sales and service company on August 1, 2015 called Juno's Toys Inc. The plan is to prepare monthly adjustments so that financial statements can be done each month. The following information is available for August 2015 (assume a perpetual inventory system). August 1 Joey invested S10,000 cash along with $9,000 of computer equipment into his new business in exchange for 800 shares. The equipment is estimated to have a useful life of 2 years and have no value after that time. Purchased 10 months worth of insurance for S1,300 cash; the insurance is effective immediately 1517.000 af merchandise was purchased from Ludwig Inc. on account: terms 1/10,n30. 3 Purchased $10,000 of merchandise inventory from Oppang Corporation; terms 1/10,n30: FOB shipping point 4 Received the August 3, 2015 purchase and paid cash of $150 for shipping. a Sold merchandise to Joe Sixpack that cost $2,800 for $3,600; terms 1/15,n30. 9 Bought $400 af affice supplies, paid cash. 11 Paid for the merchandise purchased from Oppong Corporation on August 3, 2015 12 Bought used office furniture for $1,800 cash. It is estimated that the business will use the furniture for 3 years and then donate it to a charity. 15 The customer of August 8, 2015 returned $500 of their purchase due to defects; the returned merchandise will not be returned to inventory 20 Collected the balance owing regarding the August 8, 2015 sale. 20 Paid for the merchandise purchased from Ludwig Inc. on August 1, 2015 20 Sold merchandise to Joe Sixpack that cost $5,500 for $6,300 cash. Additional information available at month end, August 31: Acount of the office supplies showed a balance on August 31 of $40. The merchandise inventory was counted and there was a balance on hand at August 31 of $17,900. The August utility bill arrived from Epcor Utility Company; the $600 balance owing must be paid by September 15, 2015. Please make sure your final answer(s) are accurate to 2 decimal places. Enter an appropriate description when entering the transactions in the journal. Dates must be entered in the format ddimmm (ie. January 15 would be 15/Jan). For each journal entry, indicate how each account affects the balance sheet (Assets, Liabilities, Equity). Use + for increase and for decrease. For example, if an account decreases equity, choose' Equity Prepare the journal entries based on the transactions that occurred from August 1 to August 31. Also, record the six adjusting entries for the month ended August 31 based on the additional information and a review of the August transactions. Journal entries Adjusting entries: General Journal Page GU1 Efect on General Journal Page Gj1 Effect On Date Accountanation F Debit Credit Balance Sheet Date Account Explanation F Detit Credit Balance Sheet Joey Juno began a web-based computer sales and service company on August 1, 2015 called Juno's Toys Inc. The plan is to prepare monthly adjustments so that financial statements can be done each month. The following information is available for August 2015 (assume a perpetual inventory system). August 1 Joey invested S10,000 cash along with $9,000 of computer equipment into his new business in exchange for 800 shares. The equipment is estimated to have a useful life of 2 years and have no value after that time. Purchased 10 months worth of insurance for S1,300 cash; the insurance is effective immediately 1517.000 af merchandise was purchased from Ludwig Inc. on account: terms 1/10,n30. 3 Purchased $10,000 of merchandise inventory from Oppang Corporation; terms 1/10,n30: FOB shipping point 4 Received the August 3, 2015 purchase and paid cash of $150 for shipping. a Sold merchandise to Joe Sixpack that cost $2,800 for $3,600; terms 1/15,n30. 9 Bought $400 af affice supplies, paid cash. 11 Paid for the merchandise purchased from Oppong Corporation on August 3, 2015 12 Bought used office furniture for $1,800 cash. It is estimated that the business will use the furniture for 3 years and then donate it to a charity. 15 The customer of August 8, 2015 returned $500 of their purchase due to defects; the returned merchandise will not be returned to inventory 20 Collected the balance owing regarding the August 8, 2015 sale. 20 Paid for the merchandise purchased from Ludwig Inc. on August 1, 2015 20 Sold merchandise to Joe Sixpack that cost $5,500 for $6,300 cash. Additional information available at month end, August 31: Acount of the office supplies showed a balance on August 31 of $40. The merchandise inventory was counted and there was a balance on hand at August 31 of $17,900. The August utility bill arrived from Epcor Utility Company; the $600 balance owing must be paid by September 15, 2015. Please make sure your final answer(s) are accurate to 2 decimal places. Enter an appropriate description when entering the transactions in the journal. Dates must be entered in the format ddimmm (ie. January 15 would be 15/Jan). For each journal entry, indicate how each account affects the balance sheet (Assets, Liabilities, Equity). Use + for increase and for decrease. For example, if an account decreases equity, choose' Equity Prepare the journal entries based on the transactions that occurred from August 1 to August 31. Also, record the six adjusting entries for the month ended August 31 based on the additional information and a review of the August transactions. Journal entries Adjusting entries: General Journal Page GU1 Efect on General Journal Page Gj1 Effect On Date Accountanation F Debit Credit Balance Sheet Date Account Explanation F Detit Credit Balance Sheet Joey Juno began a web-based computer sales and service company on August 1, 2015 called Juno's Toys Inc. The plan is to prepare monthly adjustments so that financial statements can be done each month. The following information is available for August 2015 (assume a perpetual inventory system). August 1 Joey invested S10,000 cash along with $9,000 of computer equipment into his new business in exchange for 800 shares. The equipment is estimated to have a useful life of 2 years and have no value after that time. Purchased 10 months worth of insurance for S1,300 cash; the insurance is effective immediately 1517.000 af merchandise was purchased from Ludwig Inc. on account: terms 1/10,n30. 3 Purchased $10,000 of merchandise inventory from Oppang Corporation; terms 1/10,n30: FOB shipping point 4 Received the August 3, 2015 purchase and paid cash of $150 for shipping. a Sold merchandise to Joe Sixpack that cost $2,800 for $3,600; terms 1/15,n30. 9 Bought $400 af affice supplies, paid cash. 11 Paid for the merchandise purchased from Oppong Corporation on August 3, 2015 12 Bought used office furniture for $1,800 cash. It is estimated that the business will use the furniture for 3 years and then donate it to a charity. 15 The customer of August 8, 2015 returned $500 of their purchase due to defects; the returned merchandise will not be returned to inventory 20 Collected the balance owing regarding the August 8, 2015 sale. 20 Paid for the merchandise purchased from Ludwig Inc. on August 1, 2015 20 Sold merchandise to Joe Sixpack that cost $5,500 for $6,300 cash. Additional information available at month end, August 31: Acount of the office supplies showed a balance on August 31 of $40. The merchandise inventory was counted and there was a balance on hand at August 31 of $17,900. The August utility bill arrived from Epcor Utility Company; the $600 balance owing must be paid by September 15, 2015. Please make sure your final answer(s) are accurate to 2 decimal places. Enter an appropriate description when entering the transactions in the journal. Dates must be entered in the format ddimmm (ie. January 15 would be 15/Jan). For each journal entry, indicate how each account affects the balance sheet (Assets, Liabilities, Equity). Use + for increase and for decrease. For example, if an account decreases equity, choose' Equity Prepare the journal entries based on the transactions that occurred from August 1 to August 31. Also, record the six adjusting entries for the month ended August 31 based on the additional information and a review of the August transactions. Journal entries Adjusting entries: General Journal Page GU1 Efect on General Journal Page Gj1 Effect On Date Accountanation F Debit Credit Balance Sheet Date Account Explanation F Detit Credit Balance Sheet