Journalism Edwards Caddy services June Transactions

ACC1800-ACCOUNTING PROCEDURES Project # 1: Recording Transactions (Chps 1 & 2) OAKLANT Summer Edwards will manage Edwards Caddy Services at Canyon Lake Golf and Country Club during June through September 2017 Summer rents a small maintenance building from the country club and offers caddy services, including cart rentals, to golfers. Summer has had no formal training in bookkeeping. Summer keeps receipts and notes of all revenaes and expenses in a shoe box. Your examination of the Summer's shoe box of caddy service records for June revealed the following: Jun 1 Summer contributed to Edwards Caddy Service, by depositing $8,000 into the business account 1 Paid June rental fee of $1,000 for a small bailding at Canyon Lake Golf and Country Club. 2 Paid June rental fee of $1,500 for 40 regular palling golf carts and 20 gasoline-drive carts 3 Purchased golf supplies (practice balls, gasoline, etc), on account $2,000 15 Paid wages to part-time employees, $8so. 20 Pald cash to creditors on account, $1,000. 30 A count of all the "Pay Later" slips from customers for caddy services performed from June 1-30, totalled, $3,000. 30 A count of all the "Paid Cash" slips from customers for caddy services performed from June 1-30, totalled $9,000. 30 Paid the following basiness expenses: Paid wages to part-time employees, $1,250. Paid telephone and electricity expenses, $300. Paid miscellaneous expenses, $250. 30 Summer withdrew $3,800 for personal use. Summer has asked you several questions concerning his financial affairs to date, and he has asked you to assist with his bookkeeping and reporting of financial data. 1. Journalize Edwards Caddy Service's June transactions 2. Post Edwards Caddy Service's June transactions to T-Accounts 3. Prepare Edwards Caddy Service's Trial Balance as of june 30, 2017 4. Prepare Edwards Caddy Service's Income Statement for the month ended June 30, 2017 5. Prepare Edwards Caddy Service's Statement of Owner's Equity for the month ended June 30, 2017 6. Prepare Edwards Caddy Service's Balance Sheet as of june 30, 2017. **COMPLETE ENTIRE PACKET NEATLY USING PENCIL, NO INK" 1 of