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THE RECORDING PROCESS Task 2 Task w began a restaurant consulting company. Below are events and transactions that occurred during the first month of operations. (a) Prepare the necessary general journal entries. If no entry is needed put N/A. (b) Post Journal entries to the ledger accounts. (c) Prepare the month end trial balance. May 1 ploto invested $39,000 cash to start a consulting business. 2 Hired a receptionist at a salary of S1,800 per month 3 Purchased $700 of supplies, on account, from Office Supply Company. 7 Paid office rent of $2,100 for the month 11 Billed client $1,900 providing consulting services. 12 Received $5,000 advance on a consulting engagement. 17 Received cash of S1,600 for services completed for Mutter Company. 31 Pald receptionist salary for the month. 31 Paid 40% of the balance due to Office Supply Company. (a) Date Re Credit Debit 39,000 39,000 1900 way! mayz may 3 3 may? Alfondsee payable General Journal Account Titles (Explanation NOT required) Cash Obrers CUP val salaries accounts Paya bie Supplies Rent expense cash Accounts Recievable Consulting hevenue cash Unaved Sexice berende cash service Revenue Accounts Payable Cash Acants Payable C Cesh 2,100 2100 1900 1900 mayl! May 12 may 17 Sooo 5000 1000 1600 Mayil 1800 1800 May 31 280 390 Task 1 (Cont'd) No. 101 Balance Crede De 39,000 ZIO O (b) Cash Date Explanation May 1 asna start company 1 Poid rent For month May to uncomod service revende YO Service Mo31 sy acants payable By accounts Payable Accounts Receivable Date Rer JI JI JI JI 31 JI 5.000 ILOO revenue may 17 1860 280 MS No. 112 Ralance Debit Credit Rel JI No. 126 Balance Supplies Date Credit Debit Expation Ref JI No. 201 Balance Accounts Payable Date Debi Credit Explanation Ref. J1 JI Unearned Revenue Data No. 205 Balance Dcb Credit Explanation Ref JI Capital Date No. 311 Balance Debit Credit Explanation Ref. JI Service Revenue Thale No. 400 Balance Debit Explanation Credit Ref. JI J1 Salaries Expense Date No. 726 Balance Explanation Ret Debit Credit JI Rent Expense Date No. 729 Balance Explanation Debit Credit Ref JI Task #1 (Cont'd) (c) THOMAS RESTAURANT CONSULTING Trial Balance 5/31/2021 Debit Credit Cash Accounts Receivable Supplies Accounts Payable Unearned Revenue Capital Service Revenue Salaries Expense Rent Expense Task #2 Selected transactions from the general journal of Paige's Kitchen Supply Company are presented below. Post the transactions to T accounts and prepare a trial balance for the end of the month. Credit General Journal Account Titles (Explanation NOT required) Ref. Debit 48,000 Date 48,000 Aug. 1Cash Capital 24,000 2,400 21,600 7 Office Equipment Cash Notes Payable 14 Cash Service Revenue 4,300 4,300 2.200 2,20 21 Accounts Receivable Service Revenue 800 8! 27 Cash Accounts Receivable Cash Notes Payable Balance Capital Accounts Receivable Service Revenue Balance Office Equipment Balance (b) PAIGE'S KITCHEN SUPPLY COMPANY Trial Balance August 31, 2021 Debit Credit Sash Accounts Receivable Office Equipment Hotes Payable Capital ervice Revente
