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Journal Entries and Trial Balance On January 1, 20Y5, Fahad Ali established Mountiin Top Pealty, which completed the following transactions during the month: a. Fahad

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Journal Entries and Trial Balance On January 1, 20Y5, Fahad Ali established Mountiin Top Pealty, which completed the following transactions during the month: a. Fahad Ali transferred cash from a personal bank account to an account to be used for the business, $19,000. b. Paid rent on office and equipment for the month, $3,510. c. Purchased supplies on account, $1,040. d. Paid creditor on account, $380. e. Earned fees, recelving casth, $15,960. 6. Paid automobile expenses (including rental charge) for month, $970, and misceilaneous expenses, $650. 9. Paid office salaries, $2,040. h. Determined that the cost of supplies used was $570. i. Withdrew eash for personal use, $940. Mesuired 1. Soumalizn entres for transactions (a) through (0) tin chronological ordet), using the following account tales: Cash; 5upplies; Accounts Payable; Fahad As, Capital; Fahad Ale; Drawind; fees Lamed; Rent Expents; Oefice Salaties Expense; Automedile Expense; Supplies Expense; Miscellaneous Expense, if an amount box does not require an entry; leme it blank. transactions, Determine the account balances (when required), after-all posting is complete, for all accounts having two or more debite be credits. Fahad Ali, Drawing Fees Earned Rent Expense Office Salaries Expense Automobile Expense 3. Prepare an unadjusted trial balance as of January 31,20Y5. If an amount box does not require an entry, leave it blank. 4. As a result of the January transactions (ai), determine the following: a. Amount of total revenue recorded in the ledger. b. Amount of total expenses recorded in the ledger. c. Amount of net income for January. 5. Determine the total increase or decrease in owner's equity for January

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