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March 1 3 4 5 Problem 2-13A Journalizing, posting, preparing a trial balance and financial statements L01, 3, 4, 5, 6 CHECK FIGURES: 4. Dr.

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March 1 3 4 5 Problem 2-13A Journalizing, posting, preparing a trial balance and financial statements L01, 3, 4, 5, 6 CHECK FIGURES: 4. Dr. = $68,100; 5. Profit = $11,250; Total assets = $16,900 Ranjeet Gill is a wedding planner who is one of the best known in her area; she has a high presence at wedding shows and works closely with a wedding dress boutique. On January 1, 2020, Ranjeet started her business called Everything Wedding Planning. The following activities occurred during March, the third month of operations: anning. The Purchased supplies for organizing files on credit for $200. 2 Collected $4,400 in advance for a wedding in May. Collected the final payment of $2,200 for the Singh wedding happening this weekend Pald $3,200 to rent the hall for the Singh wedding Pald $600 for supplles purchased on account last month 15 Ranjeet withdrew cash of $450 to do some personal shopping on the weekend. 20 Pald her assistant wages of 51,500 31 Purchased new punch bowl equipment on credit for $400. Required 1. Prepare journal entries to record the July transactions 2. Set up the following general ledger accounts using T-accounts, entering the balances brought forward from February 29, 2020: Cash (101) $6,200; Supplies (126) $1,050; Equipment (161) S8,200; Accounts Payable (201) $1,700; Unearned Wedding Planning Revenue (233) $10,000; Ranjeet Gill, Capital (301) $3,200; Ranjeet Gill. Withdrawals (302) $13,200; Wedding Planning Revenue (401) 546,600; Wages Expense (623) S26,650; and Rent Expense (640) 56,200. 3. Post the entries to the T-accounts; calculate the ending balance in each account 4. Prepare a trial balance at March 31, 2020, 5. Use the trial balance to prepare an income statement and statement of changes in equity for the three months ended March 31, 2020, as well as a balance sheet at March 31, 2020

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