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Need the journal entries for the month of July also need help with the income statements and trial balances 9. Prepare and post journal entries
Need the journal entries for the month of July also need help with the income statements and trial balances
9. Prepare and post journal entries to record the July transactions During July, Bob Lutz completed these transactions for Lutz Repair Service July 1st Paid the monthly rent, $1,700. July 1. Made the monthly payment to Bilbao Company, $1,200. July 6. Purchased additional repair supplies for the first half of the month, $3,452. July 15. Received cash repair revenue for the first half of the month, $3,656. July 20. Paid cash for an advertisement in the local newspaper, $240 July 23. Paid Rusin Company on account, $2,400. Acc July 30. Received cash repair revenue for the last half of the month, $3,268 July 30. Recorded a withdrawal by owner, $1,200 10. Prepare the July unadjusted trial balance 11. Using the following information, record adjusting entries in the general jounal and post to the ledger accounts a. One month's insurance has expired. b. The inventory of unused repair supplies is S1,652. c. The estimated depreciation on repair equipment is $280 12. From the accounts in the ledger, prepare an adjusted trial balance. 13. From the adjusted trial balance, prepare the July income statement, statement of owner's equity. and balance sheet. 14. Prepare and post-closing entries. 15. Prepare a post-closing trial balance Step by Step Solution
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