Listed below are transactions of Zane Bowens new start up business, since opening his leadership consulting business in September 20X1 Mr Bowen needs some assistance in preparing journal entries and financial statements for his first four months of operation in preparation to establish financial records to see how hes performing the first few months Sept 1 McDaniel begins a business as a Leadership Consultant and invests $40,000 cash Sept 2 Purchases furniture fixtures and computer equipment on account from Green Jacket Co for $8,500 and $3,500 respectively, 5 year 3 year useful life, straight line method Sept 4 Pays rent for office space, $700 for the month Sept 4 Employs a receptionist, Michael Jones Sept 5 Purchases office supplies for cash $942 Sept 8 Receive cash of $1,700 from customers for services performed Sept 10 Pays miscellaneous office expenses, $450 Sept 14 Bills customers $5,800 for services performed Sept 18 Pays Green Jacket Co on account, $3,600 Sept 19 Withdraws $2,000 cash from the business for personal use Sept 20 Receives $1,000 from customers on account Sept 25 Bills customers $2,150 for services performed Sept 30 Pays the following expenses in cash Salaries and wages $1,500 miscellaneous office expenses $125 Sept 30 Office Supplies used during September, $230 Sept 30 Receives $120 in interest income on deposit accounts Sept 30 Reserve for Uncollected Receivables of $500 Sept 30 Prepares Closing Entries for Sept Oct 1 Purchases office equipment w cash for 2,400, 5 year useful life, straight line method Oct 2 Pays rent for office space, $700 for the month Oct 5 Receives $500 from customers on account Oct 5 Purchases office supplies for cash $338 Oct 8 Receive cash of $1,500 from customers for services performed Oct 10 Pays miscellaneous office expenses, $530 Oct 12 Bills customers $5,575 for services performed Oct 15 Pays Green Jacket Co on account, $3,500 Oct 15 Withdraws $3,000 cash from the business for personal use Oct 20 Receives $1,250 from customers on account Oct 25 Bills customers $4,000 for services performed Oct 30 Pays the following expenses in cash Salaries and wages $1,500 miscellaneous office expenses $225 Travel Expenses $776 Oct 31 Office Supplies used during September, $325 Oct 31 Receives $35 interest income on deposit accounts Oct 31 Reserve for Uncollectible Accounts of $750 Oct 31 Accounts deemed uncollectible of $150 Oct 31 Prepares Closing Entries for Oct Nov 1 Maintenance on equipment of $125, paid w cash Nov 1 Invests in Research Development Innovation Session $2,500 on account Nov 2 Pays rent for office space, $700 for the month Nov 5 Receives $2,500 from customers on account Nov 5 Purchases office supplies for cash $325 Nov 8 Receive cash of $2,500 from customers for services performed Nov 10 Pays miscellaneous office expenses, $130 Nov 12 Bills customers $5,250 for services performed Nov 15 Pays Green Jacket Co remaining balance Nov 15 Withdraws $2,500 cash from the business for personal use Nov 20 Receives $8,750 from customers on account Nov 25 Bills customers $5,875 for services performed Nov 30 Pays the following expenses in cash Salaries and wages $1,500 miscellaneous office expenses $125 Nov 30 Office Supplies used during September, $520 Nov 30 Receives $38 interest income on deposit accounts Nov 30 Reserve for Uncollectible Accounts of $1,250 Nov 30 Accounts deemed uncollectible of $750 Nov 30 Prepares Closing Entries for Nov Dec 1 Maintenance on equipment of $55, paid on account Dec 1 Invests in Research Development with other consultants of $1,200 on account Dec 1 Pays $1,000 on R D payable Dec 2 Pays rent for office space, $700 for the month Dec 5 Receives $3,700 from customers on account Dec 5 Purchases office supplies for cash $325 Dec 8 Receive cash of $3,750 from customers for services performed Dec 10 Pays miscellaneous office expenses, $175 Dec 12 Bills customers $5,500 for services performed Dec 20 Receives $5,750 from customers on account Dec 24 Bills customers $4,125 for services performed Dec 30 Pays the following expenses in cash Salaries and wages $1,900 miscellaneous office expenses $450 Dec 31 Office Supplies used during December, $475 Dec 31 Receives $23 interest income on deposit accounts Dec 31 Reserve for Uncollectible Accounts of $1,575 Dec 31 Accounts deemed uncollectible of $250 Dec 31 Prepares Closing Entries for Dec Instructions Enter the transactions shown above in appropriate general ledger accounts (i e T Accounts) Use the following ledger accounts Cash, Accounts Receivable, Allowance for Uncollectible A R, Supplies, Equipment, Accumulated Depreciation Equipment, Accounts Payable, Owners Capital, Revenue, Interest Income, Salaries Wages Expense, Rent Expense, Repairs Maintenance Exp, Research Development Expense, Office Expenses, Supplies Expense, Depreciation Expense, Bad Debt Expense, and other applicable accounts Prepare a trial balance for each month end cutoff Prepare a Balance Sheet for each month end, an Income Statement for each month end, a Statement of Owners Equity for each month end, and a Statement of Cash Flows for year end only

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Listed below are transactions of Zane Bowens new start-up business, since opening his leadership consulting business in September 20X1. Mr. Bowen needs some assistance in

Listed below are transactions of Zane Bowens new start-up business, since opening his leadership consulting business in September 20X1. Mr. Bowen needs some assistance in preparing journal entries and financial statements for his first four months of operation in preparation to establish financial records to see how hes performing the first few months.

Sept. 1	McDaniel begins a business as a Leadership Consultant and invests $40,000 cash
Sept. 2	Purchases furniture & fixtures and computer equipment on account from Green Jacket Co. for $8,500 and $3,500 respectively, 5 year / 3 year useful life, straight line method.
Sept. 4	Pays rent for office space, $700 for the month.
Sept. 4	Employs a receptionist, Michael Jones.
Sept. 5	Purchases office supplies for cash $942.
Sept. 8	Receive cash of $1,700 from customers for services performed.
Sept. 10	Pays miscellaneous office expenses, $450.
Sept. 14	Bills customers $5,800 for services performed.
Sept. 18	Pays Green Jacket Co. on account, $3,600.
Sept. 19	Withdraws $2,000 cash from the business for personal use.
Sept. 20	Receives $1,000 from customers on account.
Sept. 25	Bills customers $2,150 for services performed.
Sept. 30	Pays the following expenses in cash. Salaries and wages $1,500; miscellaneous office expenses $125.
Sept. 30	Office Supplies used during September, $230
Sept. 30	Receives $120 in interest income on deposit accounts.
Sept. 30	Reserve for Uncollected Receivables of $500
Sept. 30	Prepares Closing Entries for Sept.

Oct. 1	Purchases office equipment w/ cash for 2,400, 5 year useful life, straight line method.
Oct. 2	Pays rent for office space, $700 for the month.
Oct. 5	Receives $500 from customers on account.
Oct. 5	Purchases office supplies for cash $338.
Oct. 8	Receive cash of $1,500 from customers for services performed.
Oct. 10	Pays miscellaneous office expenses, $530.
Oct. 12	Bills customers $5,575 for services performed.
Oct. 15	Pays Green Jacket Co. on account, $3,500.
Oct. 15	Withdraws $3,000 cash from the business for personal use.
Oct. 20	Receives $1,250 from customers on account.
Oct. 25	Bills customers $4,000 for services performed.
Oct. 30	Pays the following expenses in cash. Salaries and wages $1,500; miscellaneous office expenses $225; Travel Expenses $776.
Oct. 31	Office Supplies used during September, $325
Oct. 31	Receives $35 interest income on deposit accounts.
Oct. 31	Reserve for Uncollectible Accounts of $750
Oct. 31	Accounts deemed uncollectible of $150
Oct. 31	Prepares Closing Entries for Oct.

Nov. 1	Maintenance on equipment of $125, paid w/ cash.
Nov. 1	Invests in Research & Development / Innovation Session $2,500 on account
Nov. 2	Pays rent for office space, $700 for the month.
Nov. 5	Receives $2,500 from customers on account.
Nov. 5	Purchases office supplies for cash $325.
Nov. 8	Receive cash of $2,500 from customers for services performed.
Nov. 10	Pays miscellaneous office expenses, $130.
Nov. 12	Bills customers $5,250 for services performed.
Nov. 15	Pays Green Jacket Co. remaining balance.
Nov. 15	Withdraws $2,500 cash from the business for personal use.
Nov. 20	Receives $8,750 from customers on account.
Nov. 25	Bills customers $5,875 for services performed.
Nov. 30	Pays the following expenses in cash. Salaries and wages $1,500; miscellaneous office expenses $125.
Nov. 30	Office Supplies used during September, $520
Nov. 30	Receives $38 interest income on deposit accounts.
Nov. 30	Reserve for Uncollectible Accounts of $1,250
Nov. 30	Accounts deemed uncollectible of $750
Nov. 30	Prepares Closing Entries for Nov.

Dec. 1	Maintenance on equipment of $55, paid on account.
Dec. 1	Invests in Research & Development with other consultants of $1,200 on account
Dec. 1	Pays $1,000 on R&D payable.
Dec. 2	Pays rent for office space, $700 for the month.
Dec. 5	Receives $3,700 from customers on account.
Dec. 5	Purchases office supplies for cash $325.
Dec. 8	Receive cash of $3,750 from customers for services performed.
Dec. 10	Pays miscellaneous office expenses, $175.
Dec. 12	Bills customers $5,500 for services performed.
Dec. 20	Receives $5,750 from customers on account.
Dec. 24	Bills customers $4,125 for services performed.
Dec. 30	Pays the following expenses in cash. Salaries and wages $1,900; miscellaneous office expenses $450.
Dec. 31	Office Supplies used during December, $475
Dec. 31	Receives $23 interest income on deposit accounts.
Dec. 31	Reserve for Uncollectible Accounts of $1,575
Dec. 31	Accounts deemed uncollectible of $250
Dec. 31	Prepares Closing Entries for Dec.

Instructions:

Enter the transactions shown above in appropriate general ledger accounts (i.e. T-Accounts). Use the following ledger accounts: Cash, Accounts Receivable, Allowance for Uncollectible A/R, Supplies, Equipment, Accumulated Depreciation Equipment, Accounts Payable, Owners Capital, Revenue, Interest Income, Salaries/Wages Expense, Rent Expense, Repairs & Maintenance Exp, Research & Development Expense, Office Expenses, Supplies Expense, Depreciation Expense, Bad Debt Expense, and other applicable accounts.
Prepare a trial balance for each month-end cutoff.
Prepare a Balance Sheet for each month-end, an Income Statement for each month-end, a Statement of Owners Equity for each month-end, and a Statement of Cash Flows for year-end only.