Please Help. PR.02-03.BLANKSHEET.A..

first journal rows go to 19^

second journal goes to 12

Instructions On June 1, 2019. Kris Storey established an intenor decorating business, Eco Centric Designs. During the month Kns completed the following transactions related to the business June 1 1 6 8 10 Kris transferred cash from a personal bank account to an account to be used for the business, $26,350 Paid rent for period of June 1 to end of month $4.000 Purchased office equipment on account $12.700 Purchased a van for $32,450 paying $6,900 cash and giving a note payable for the rernainder Purchased supplies for cash. 51.760, Received cash for job completed $8.000 Paid annual premiums or property and casualty insurance, $2,300 Recorded jobs completed on account and sent invoices to customers, 512.000 Received an invoice for van expenses to be paid in June, 51,190 12 15 23 24 Enter the following transactions on Page 2 of the two column journal June 29 29 Paid utilities expense, 33.560 Paid miscellaneous expenses51700 Received cash from customers on account, $7500 Paid wages of employees $4.750 30 30 Instructions Enter the following transactions on Page 2 of the two-column journal June 29 29 30 Paid utilities expense, $3,560 Paid miscellaneous expenses. $1,700 Received cash from customers on account, $7,500 Paid wages of employees $4,750 Paid creditor a portion of the amount owed for equipment purchased on June 6, 56,040, Withdrew cash for personal use, $2,000. 30 30 30 Required 1 Joumalize each transaction in a two column oumal beginning on Page 1referring to the chocol accounts in selecting the accounts to be debited and credited (Do not insert the post reference numbers until you have posted the entry to the general ledger in part 2) 2 Post (in chronological order) the journal to a ledger of four column accounts, inserting appropriate posting references in both the journal and the ledger as each item is posted Extend the balances to the appropriate balance columns after each transaction is posted 3. Prepare an anadiusted trial balance for Eco Centric Designs as of June 30, 2019 4. Determine the excess of revenues over expenses for June 5. Can you think of any reason why the amount determined in (4) might not be the net income for June? Chart of Accounts ASSETS REVENUE 11 Cash 41 Fees Earned 12 Accounts Receivable EXPENSES 13 Supplies 14 Prepaid Insurance 51 Wages Expense 16 Office Equipment 53 Rent Expense 54 Utilities Expense 18 Van 55 Van Expense 59 Miscellaneous Expense LIABILITIES 21 Notes Payable 22 Accounts Payable EQUITY 31 Kris Storey, Capital 32 Kris Storey, Drawing Joumal 1 Jutalice each transaction in a two colunur beginning on Page 1, referring to the cast of crunts selecting the accounts to be dehted and credited (Do not insert the post rece numbers until you have posted the entry to the general ledger in part 2) DE JOURNAL ACCOUNTING EQUATION DATE DESCRIPTION POST DA GO! LES KONTY 3 Journal ACCOUNTING EQUATION JOURNAL DOSLER DET CREDIT ALITS DESCRIPTION LIABILITIES DATE EQUITY 1 1 4 . 10 Eodgor 2 post in chronological order) the oumalfo a ledger of four column accounts, inserting appropriate posting references in both the journal and the ledger as eacher posted Extend the balances to the appropriate balance columns after each transaction is posted LEDGER Account No. 11 Account No. 12 Account No. 13 Account No. 14 Account Cash Account Accounts Receivable Account Supplies Account Prepaid Imrance Account Office Equipment Account: Van Account Notes Payable Account Accounts Payable Account No. 16 Account No. 18 Account No. 21 Account No. 22 Unadjusted Trial Balance 3. Prepare an unadjusted trial balance for Eco-Centric Designs as of June 30, 2019 Eco Centric Designs UNADJUSTED TRIAL BALANCE June 30, 2019 DEBIT CREDIT ACCOUNT TITLE 1 Cash 2 Accounts Receivable 3 Supplies + Prepaid Insurance 5 Office Equipment 6 Van 7 Notes Payable 8 Accounts Payable 9 Kris Storey, Capital 10 Kris Storey, Drawing Unadjusted Trial Balance 4 Prepaid Insurance 5 Office Equipment 6 Van 7 Notes Payable 8 Accounts Payable 9 Kris Storey, Capital 10 Kris Storey, Drawing 11 Fees Earned 12 Wages Expense 13 Rent Expense 14 Utilities Expense 15 Van Expense 16 Miscellaneous Expense 17 Totals Final Questions 4 Determine the excess of revenues over expenses for June $ 5. Can you think of any reason why the amount determined in (4) might not be the net income for June? Check all that apply Some supplies may have been used during June but no supplies expense has been recorded Fees eamed includes some fees earned in the month of June that have not been received Utilities expense includes expenses incurred for the month of June than have not yet been paid Additions to capital has been wrongly recorded as drawings