Please, complete the whole problem. Thank you for your work.

For the past several years, Steffy Lopez has operated a part-time consulting business from his home. As of July 1, 2012, Stetty decided to move to rented quarters and to operate the business, which was to be known as Diamond Consulting, on a full-time basis. Diamond entered into the following transactions during July: Jul 1 The following assets were received from Steffy Lopez in exchange for common stock: cash, 512,500; accounts receivable, $20,800, supplies, $3,100, and office equipment, $7,500. There were no liabilities received. 1 2 4 5 Pald two months rent on a lease rental contract, $4,800. Pald the premiums on property and casualty insurance policies, 54,500. Received cash from clients as an advance payment for services to be provided, and recorded it as uneared fees, $5,500 Purchased additional office equipment on account from Office Station Co., $6,500. Received cash from clients on account, $15,300, Paid cash for a newspaper advertisement, $400. Paid Office Station Co. for part of the debt incurred on July 5, 55,200. Recorded services provided on account for the period July 1-12, $13,300 Paid receptionist for two weeks salary, 51,700. 6 10 12 12 14 Record the following transactions on Page 2 of the journal: Jul. 17 18 20 24 26 27 Recorded cash from cash clients for fees earned during the period July 1-17. $9.450. Paid cash for supplies, $600. Recorded services provided on account for the period July 13-20, S6,650. Recorded cash from cash clients for fees earned for the period July 17-24, $5,000. Received cash from clients on account, $12,000. Paid receptionist for two weeks' salary, $1,700. Paid telephone bill for July, $400. Paid electricity bill for July, $675. Recorded cash from cash clients for fees earned for the period July 25-31, $5,200. Recorded services provided on account for the remainder of July, $3,000. Pald dividends, $12,500. 29 31 31 31 31 Required: 1: Journalize each transaction in a two-column journal starting on Page 1, referring to the chart of accounts in selecting the accounts to be debited and credited. (Do not insert the account numbers in the journal at this time.) 2. Post the journal to a ledger of four-column accounts. Add the appropriate posting reference to the journal. 3. Prepare an unadjusted trial balance 4 At the end of July, the following adjustment data were assembled. Analyze and use these data to complete requirements (5) and (6). A. Insurance expired during July is $375, B. Supplies on hand on July 31 are $1,550. C. Depreciation of office equipment for July is $750, D. Accrued receptionist salary on July 31 is $170. E. Rent expired during July is $2,400 F. Unearned fees earned on July 31, $2,000. 5. (Optional) on your own paper or spreadsheet, enter the unadjusted trial balance on an end-of-period work sheet and complete the work sheet: 6. A. Journalize the adjusting entries on page 3 of the journal. Adjusting entries are recorded on July 31. Refer to the Chart of Accounts for exact wording of account titles B. Post the adjusting entries, inserting balances in the accounts affected 7. Prepare an adjusted trial balance. 8. A. Prepare an income statement for the month ended July 31, 2012 Be sure to complete the statement heading. If a net loss has been incurred, enter that amount as a negative number using a minus sign. Refer to the Accounts Labels and Amount Descriptions provided for the exact wording of the answer choices for text entries. You will not need to enter colons() on the income statement B. Prepare a statement of stockholders equity for the month ended July 31, 2042. Be sure to complete the statement heading. Negative amount should be indicated by the minus sign. Refer to the Accounts, Labels and Amount Descriptions provided for the exact wording of the answer choices for text entries. If an amount is zero, enter"0" C. Prepare a balance sheet as of July 31, 20Y2 Be sure to complete the statement heading. Fixed assets must be entered in order according to account number. Refer to the Accounts, Labels and Amount Descriptions provided for the exact wording of the answer choices for text entries. You will not need to enter colons (or the word "Less on the balance sheet, they will automatically insert where necessary. Negative amount should be indicated by the minus sign 9. A. Journalize the closing entries on page 4 of the journal. Refer to the Chart of Accounts for exact wording of account titles. B. Post the closing entries, inserting balances in the accounts affected. Leave the ITEM column BLANK for each row. If the account balance is zero (O) after closing entries are posted, enter a zero (0) in the account's normal balance column. 10. Prepare a post-closing trial balance General Ledger ASSETS REVENUE 11 Cash 41 Fees Earned 12 Accounts Receivable 14 Supplies EXPENSES 15 Prepaid Rent 51 Salary Expense 16 Prepaid Insurance 18 Office Equipment 19 Accumulated Depreciation 52 Rent Expense 53 Supplies Expense 54 Depreciation Expense 55 Insurance Expense 59 Miscellaneous Expense LIABILITIES 21 Accounts Payable 22 Salaries Payable 23 Unearned Fees EQUITY 31 Common Stock 32 Retained Earnings 33 Dividends Labels Current assets Current liabilities Expenses For the Month Ended July 31, 20Y2 July 31, 20Y2 Property, plant, and equipment Revenues Amount Descriptions Balances, July 1, 20Y2 Balances, July 31, 20Y2 Dividends Issued common stock Net income Net loss Total assets Total current assets Total expenses Total liabilities Total liabilities and stockholders' equity Total property, plant, and equipment Jul. 1 Cash 12,500.00 20,800.00 Accounts Receivable 1 3,100.00 Supplies Office Equipment 7,500.00 Common Stock 43,900.00 Jul. 1 Prepaid Rent 4,800.00 Cash 4,800.00 JUL 2 Prepaid Insurance 4,500.00 Cash 4,500.00 1 Jul. 4 Cash 5,500.00 5,500.00 Unearned Fees JuL5 Office Equipment Accounts Payable 6,500.00 6,500.00 Jul, 6 Cash 15,300.00 Accounts Receivable 15,300.00 ! Jul. 10 Miscellaneous Expense 400.00 400.00 Cash Jul 12 5,200.00 Accounts Payable JULY in Tom SUU 2 Fees Eamed 9,450.00 3 Jul 18 Supplies 600.00 4 Cash 1 ! 600.00 5 6,650.00 1 6 JUL 20 Accounts Receivable Fees Earned Jul 24 Cash 6,650,00 7 5,000.00 1 Fees Earned 5,000.00 9 Jul 26 Cash 12,000.00 1 10 Accounts Receivable 12,000.00 11 Jul 27" Salary Expense 1,700.00 12 Cash 1,700.00 1 13 Jul 29 Miscellaneous Expense 400.00 14 Cash 400.00 15 Jul 31 Miscellaneous Expense 675.00 Cash 675.00 ! 11 Jul 31 Cash 5,200.00 1 20 Fees Earned 5,200.00 JUL 31 Accounts Receivable 3,000.00 DATE DESCRIPTION POST. REF: DEBIT CREDIT ASSETS LABA Adjusting Entries 2 JUL 31 Insurance Expense Prepaid Insurance 5 31 Supplies Expense Supplies 31 Depreciation Expense Accumulated Depreciation 31 Salary Expense Salaries Payable & 9 51 Rent Expense 18 Prepaid Rent 12 31 Uneamed Fees 13 Fees Earned JOURNAL Score: 12/133 ACCOUNTI DESCRIPTION POST. REF DATE DEBIT CREDIT ASSETS LIA Closing Entries 2 3 Fees Earned Salary Expense 5 6 3 10 11 LEDGER Account: Cash ACC DATE ITEM POSTER DEBIT BALANC CREDIT 1 2 5 6 7 8 10 11 12 3 14 b Account: Accounts Receivable Acer DATE ITEM POST. RER DEBIT CREDIT BALANC DEBIT 1 2 3 4 5 6 Account: Supplies BALAN POST. REF. ITEM DEBIT CREDIT DATE DEBIT hoc Account: Prepaid Rent DATE ITEM POST REF DEBIT CREDIT ILALAN DEBIT Account: Prepaid Insurance Aco DATE ITEM POST. REF BALA DEBIT CREDIT DEBIT 1 2 Account: Office Equipment BALN DATE ITEM POST. REF DEBIT CREDIT DEBIT 1 AC Account: Accumulated Depreciation BALA POST. REF DEBIT CREDIT DATE ITEM DEBIT 2 Account: Salaries Payable DATE ITEM POST. RER DEBIT CREDIT 1 Account: Unearned Fees DATE ITEM POST. REF DEBIT CREDIT 2 Account: Common Stock DEBIT POST REF CREDIT DATE ITEM Account: Retained Earnings TERIT CREDIT Account: Retained Earnings Aco DATE ITEM POST REF DESIT CREDIT TALAR DERIT 1 2 Account: Dividends Ace DATE ITEM POST. REF DEBIT CREDIT BALAK DEBIT 1 2 Account: Fees Earned ACCI BALAR DATE ITEM POST: REK DEBIT CREDIT DEBIT 1 2 3 5 G Account Salary Expense ACCE DATE ITEM POST REF DERIT CREDIT SALE Account: Rent Expense Acet DATE ITEM POST. REF. DERT ALAN CREDIT DET 1 Account: Supplies Expense Acor RAD DATE ITEM POST REX DEBIT CREDIT DET Aco Account: Depreciation Expense BAAR ITEM DATE POST REF DEBIT CREDIT HI Account: Depreciation Expense DATE ITEM NAME POSTRES DEBIT CREDIT DEBIT Account: Insurance Expense Acco LALAN DATE ITEM POST, RER DENT CREDIT DEBIT 1 ACC Account: Miscellaneous Expense BALANC POST. REK DEBIT CREDIT DATE ITEM I Diamond Consulting Score: 0/62 UNADJUSTED TRIAL BALANCE July 31, 20Y2 ACCOUNT TITLE DEBIT CREDIT 1 Cash 2 Accounts Receivable 3 Supplies 4 Prepaid Rent 5 Prepaid Insurance 6 Office Equipment 7. Accumulated Depreciation 8 Accounts Payable 9 Salaries Payable 10 Unearned Fees 11 Common Stock 12 Retained Earnings 13 Dividends Neu Larings 13 Dividends 14 Fees Earned 15 Salary Expense 16 Rent Expense 17 Supplies Expense 18 Depreciation Expense 19 Insurance Expense 20 Miscellaneous Expense 21 Totals ADJUSTED TRIAL BALANCE July 31, 2012 ACCOUNT TITLE DEBIT CREDIT 1 Cash 2 Accounts Receivable 3 Supplies 4 Prepaid Rent 5. Prepaid Insurance 6 Office Equipment 7 Accumulated Depreciation 8 Accounts Payable 9 Salaries Payable 10 Unearned Fees 11 Common Stock 12 Retained Earnings 14 Fees Earned 15 Salary Expense 16 Rent Expense 17 Supplies Expense 18 Depreciation Expense 19 Insurance Expense 20 Miscellaneous Expense 21 Totals Score: 47/85 Diamond Consulting Income Statement (Label) 1 Fees earned 2 Expenses: 3 Salary expense Miscellaneous expense Insurance expense 4 5 6 Supplies expense 7 Depreciation expense Rent expense 9 10 Net income Diamond Consulting Score: 9/80 Statement of Stockholders' Equity (Label) Common Stock Retained Earnings Total 2 3 4 Net income I 5 6 Score: 36/160 Diamond Consulting Balance Sheet (Label) 1 Assets 2 (Label 3 Accounts receivable 4 Supplies 5 Prepaid rent 7 ho 6 Prepaid insurance 7 8 9 (Label) 10 Office equipment 11 Less accumulated depreciation 12 13 14 Liabilities 14 Liabilities 15 Label) 16 17 18 19 20 Stockholders' Equity 21 22 2 23 24 Diamond Consulting Score: 0/51 POST-CLOSING TRIAL BALANCE July 31, 20Y2 ACCOUNT TITLE DEBIT CREDIT 1 Cash 2 Accounts Receivable 3 Supplies 4 Prepaid Rent 5. Prepaid Insurance 6 Office Equipment 7 Accumulated Depreciation 8 Accounts Payable 9 Salaries Payable 10 Unearned Fees 11 Common Stock 12 Retained Earnings 13 Totals