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 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 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

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Posted on Aug 09, 2024

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.

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.

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.