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july 1 st k . samuels, sole shareholder of samuels internet cafe ltd , started his business by investing by investing his cash saving of
july st samuels, sole shareholder of samuels internet cafe ltd started his business by investing by investing his cash saving of $ for shares of the business st Recevied a bank loan for $ndpaid rent for the month of July and august total rdBought office supplies worth cash rd Bought computer for paid th Bought office equipment worth $ paid $ thPaid eletrician expense $ cash thPaid assembly expense $ cash th Revenue of cash for surfing internet th Revenue of for games customer owed $ thPurchases stationery for $ cash th Ksamuels received a dividend of $ per share from business for personal use th Received $ as prepayment for internet surfing thPaid salary $ thpaid of repairs and maintenance $ nd Revenue of cash for using MS office thPaid $ for the computers purchased on July rd th Revenue of $ cash Received from customer purchase from vending machine. st Tax expensesnto be paid before august th is $ st Adjusting entry for the rent for july For the month of July Prepare Generral ledger Taccounts note : Asset :Cash accounts Receivable Prepaid rent, Unused supplies, computers, office Equpment Liabilities : Accounts payable, unearned Revenue bank loan taxes payable Capital : share capital Dividends Revenue:Revenue from internet, Revenue from Games, Revenue from MS office, and Revenue from vending machine Expenses:Assembly Expense, Electical Expense, Maintenance Expense, Rent Expense,salaries Expense, Tax Expense. Prepare Journal entries and post the entries to the General ledger Show the trial balance at period end Prepare income statement at period end Create a statement of changes of Equity at the period end Prepare balance sheet at period end
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