please help, i have to do all steps required
heres more info on the past trial balances
Part III: Dixie Lewis decided to expand her business and begin selling accounting software, as well as providing consulting services. During January, DL Consulting completed these transactions: Jan 2 Completed a consulting engagement and received cash of $7,200. 2 Prepaid three months' office rent, $1,500. 7 Purchased software inventory on account, $3,900, plus freight in, $100 cash 15 Withdrew $500 for personal use. 18 Sold software on account, $1,100 (cost $700). 19 Consulted with a client for a fee of $900 on account. 20 Paid the secretary's salary for the month. (Similar transaction in Part 2.) 21 Paid on account, $2,000. (Similar transaction in Part 1 - 12/26.) 24 Paid utilities bill, $300. 28 Sold software for cash, $600 (cost $400). 31 Recorded these adjusting entries: a) Accrued salary expense. (Similar adjusting entry in Part 2.) b) Depreciation of computer and furniture. (Similar adjusting entry in Part 2.) c) Expiration of prepaid rent. d) Expiration of prepaid insurance. e) Physical count of inventory, $2,800. f) Earned the remaining revenue from December 22. g) Dixie Lewis estimates that 3% of inventory sold will be returned. (See page 259 in textbook.) Required 1) Prepare journal entries for the above transactions and post these entries to the ledger. 2) Prepare adjusting entries on January 31 and post to the ledger. 3) Prepare an adjusted trial balance, an income statement, a statement of owner's equity, and a balance sheet as of/ on January 31, 2018. 4) Prepare closing entries at January 31, 2018 and post to the ledger. 5) Prepare a post-closing trial balance on January 31, 2018. 6) Write a letter to the CEO explaining the financial position of the company. (Make sure you use a properly formatted business letter.) DL Consulting Trial Balance December 31, 2017 Balance Debit Credit $16,350 1,100 6,000 500 2,400 4,500 Account Title Cash Accounts Receivable Prepaid Insurance Supplies Computer Furniture Accounts Payable Unearned Revenue Lewis, Capital Lewis, Withdrawal Service Revenue Utilities Expense Rent Expense 4,700 1,200 25,000 1,600 2,500 200 750 34,400 34,400 DL Consulting Adjusta) Trial Balance December 31, 2017 Credit Balance Debit $16,350 1,500 5,750 100 2,400 33.33 4,500 75 4,700 1,333.33 800 25,000 Account Title Cash Accounts Receivable Prepaid Insurance Supplies Computer Accumulated Depreciation-Computer Furniture Accumulated Depreciation-Furniture Accounts Payable Salaries Payable Unearned Revenue Lewis, Capital Lewis, Withdrawal Service Revenue Utilities Expense Rent Expense Supplies Expense Salary Expense Insurance Expense Depreciation Expense-Computer Depreciation Expense-Furniture Total 1,600 3,300 200 750 400 1,333.33 250 33.33 $75 $35,241.66 35,241.66 DL Consulting Post-Closing Trial Balance December 31, 2017 Account Debit Credit 16,350 1,500 100 5,750 2,400 33.33 4,500 Cash Accounts Receivable Supplies Prepaid Insurance Computer Accumulated Depreciation-Computer Furniture Accumulated Depreciation-Furniture Accounts Payable Salaries Payable Unearned Revenue Lewis, Capital Total 75 4,700 1,333.33 800 23,658.34 30,600 30,600 DL Consulting Post-Closing Trial Balance December 31, 2017 Account Debit Credit Cash 16,350 1,500 100 5,750 2,400 33.33 4,500 Accounts Receivable Supplies Prepaid Insurance Computer Accumulated Depreciation-Computer Furniture Accumulated Depreciation-Furniture Accounts Payable Salaries Payable Unearned Revenue Lewis, Capital Total 75 4,700 1,333.33 800 23,658.34 30,600 30,600 Part III: Dixie Lewis decided to expand her business and begin selling accounting software, as well as providing consulting services. During January, DL Consulting completed these transactions: Jan 2 Completed a consulting engagement and received cash of $7,200. 2 Prepaid three months' office rent, $1,500. 7 Purchased software inventory on account, $3,900, plus freight in, $100 cash 15 Withdrew $500 for personal use. 18 Sold software on account, $1,100 (cost $700). 19 Consulted with a client for a fee of $900 on account. 20 Paid the secretary's salary for the month. (Similar transaction in Part 2.) 21 Paid on account, $2,000. (Similar transaction in Part 1 - 12/26.) 24 Paid utilities bill, $300. 28 Sold software for cash, $600 (cost $400). 31 Recorded these adjusting entries: a) Accrued salary expense. (Similar adjusting entry in Part 2.) b) Depreciation of computer and furniture. (Similar adjusting entry in Part 2.) c) Expiration of prepaid rent. d) Expiration of prepaid insurance. e) Physical count of inventory, $2,800. f) Earned the remaining revenue from December 22. g) Dixie Lewis estimates that 3% of inventory sold will be returned. (See page 259 in textbook.) Required 1) Prepare journal entries for the above transactions and post these entries to the ledger. 2) Prepare adjusting entries on January 31 and post to the ledger. 3) Prepare an adjusted trial balance, an income statement, a statement of owner's equity, and a balance sheet as of/ on January 31, 2018. 4) Prepare closing entries at January 31, 2018 and post to the ledger. 5) Prepare a post-closing trial balance on January 31, 2018. 6) Write a letter to the CEO explaining the financial position of the company. (Make sure you use a properly formatted business letter.) DL Consulting Trial Balance December 31, 2017 Balance Debit Credit $16,350 1,100 6,000 500 2,400 4,500 Account Title Cash Accounts Receivable Prepaid Insurance Supplies Computer Furniture Accounts Payable Unearned Revenue Lewis, Capital Lewis, Withdrawal Service Revenue Utilities Expense Rent Expense 4,700 1,200 25,000 1,600 2,500 200 750 34,400 34,400 DL Consulting Adjusta) Trial Balance December 31, 2017 Credit Balance Debit $16,350 1,500 5,750 100 2,400 33.33 4,500 75 4,700 1,333.33 800 25,000 Account Title Cash Accounts Receivable Prepaid Insurance Supplies Computer Accumulated Depreciation-Computer Furniture Accumulated Depreciation-Furniture Accounts Payable Salaries Payable Unearned Revenue Lewis, Capital Lewis, Withdrawal Service Revenue Utilities Expense Rent Expense Supplies Expense Salary Expense Insurance Expense Depreciation Expense-Computer Depreciation Expense-Furniture Total 1,600 3,300 200 750 400 1,333.33 250 33.33 $75 $35,241.66 35,241.66 DL Consulting Post-Closing Trial Balance December 31, 2017 Account Debit Credit 16,350 1,500 100 5,750 2,400 33.33 4,500 Cash Accounts Receivable Supplies Prepaid Insurance Computer Accumulated Depreciation-Computer Furniture Accumulated Depreciation-Furniture Accounts Payable Salaries Payable Unearned Revenue Lewis, Capital Total 75 4,700 1,333.33 800 23,658.34 30,600 30,600 DL Consulting Post-Closing Trial Balance December 31, 2017 Account Debit Credit Cash 16,350 1,500 100 5,750 2,400 33.33 4,500 Accounts Receivable Supplies Prepaid Insurance Computer Accumulated Depreciation-Computer Furniture Accumulated Depreciation-Furniture Accounts Payable Salaries Payable Unearned Revenue Lewis, Capital Total 75 4,700 1,333.33 800 23,658.34 30,600 30,600
