please help with part 4, A:

additional information:

please refer to the first two photos under "additional photos", such as the listing of $25k in shares

a) Prepare the appropriate adjusting entries on September 30, 2014. HINT. Where might you look to find information to prepare the adjusting entries? NOTE The acusting entries will be automatically posted to the general ledger when you click "sumir and the correct adjusted general ledger balances will be available in the solution to Part 4 Boneral Journal Page GUS Do Account Explanation F Debit Credit . b) What is the next step in the accounting cycle? Propare an unadjusted trial balance Prepare closing entries Prepare financial statements This is the last step Post transactions o Prepare an adjusted trial balance Prepare a post-dosing trial bwance Analyze and joumakze transactions F Debit Cash Date Explanation 31/Aug Opening balance 1/Sep Issued shares 1/Sep Prepaid for rent 1/Sep Received payment for consulting in advance 24/Sep Earned and received consulting revenue 25/Sep Paid cash for salaries 25/Sep Paid for repairs to furniture 29/Sep Received customer payment 30/Sep Paid bill for utilities expense 30/Sep Dividends 30/Sep Paid for dinner with client GJ1 25,000 GJ1 GJ1 12,000 GJ2 720 GJ2 GJ3 GJ3 7,888 GJ3 GJ3 GJ4 Account No. 10 Credit Balance 141,500 166,500 7,200 159,300 171,300 172,020 15,200 156,820 300 156,520 164,408 500 163,908 3,780 160,128 57 160,071 F Debit Accounts Receivable Date Explanation 31/Aug Opening balance 1/Sep Earned consulting revenue 15/Sep Earned consulting revenue 15/Sep Earned consulting revenue 29/Sep Received customer payment GJ1 GJ2 GJ2 GJ3 7,424 7,888 6,032 Account No. 106 Credit Balance 89,500 96,924 104,812 110,844 7,888 102,956 Prepaid Rent Explanation F GJ1 Date 1/Sep Account No. 131 Credit Balance 7,200 Debit 7,200 Prepaid for rent F Debit Account No. 161 Credit Balance 59,000 Furniture Date Explanation 31/Aug Opening balance Accumulated Depreciation, Furniture Date Explanation 31/Aug Opening balance F Debit Account No. 162 Credit Balance 4,500 Machinery Explanation F GJ1 Date 2/Sep Account No. 169 Credit Balance 13,200 Debit 13,200 Received machinery TI Debit Accounts Payable Date Explanation 31/Aug Opening balance 2/Sep Received machinery 22/Sep Received bill for advertising expense 26/Sep Received bill for utilities expense 30/Sep Paid bill for utilities expense GJ1 GJ2 GJ3 GJ3 Account No. 201 Credit Balance 49,500 13,200 62,700 500 63,200 500 63,700 63,200 500 Unearned Consulting Revenue Explanation Received payment for consulting in advance Date 1/Sep Debit F GJ1 Account No. 230 Credit Balance 12,000 12,000 Share Capital Explanation F Debit Date 31/Aug 1/Sep Opening balance Issued shares Account No. 301 Credit Balance 147,000 25,000 172,000 GJ1 Dividends Explanation Date 30/Sep Dividends F GJ3 Debit 3,780 Account No. 302 Credit Balance 3,780 Retained Earnings Explanation F Debit Date 31/Aug Opening balance Account No. 318 Credit Balance 89.000 Debit Date 1/Sep 15/Sep 15/Sep 24/Sep Consulting Revenue Earned Explanation Earned consulting revenue Earned consulting revenue Earned consulting revenue Earned and received consulting revenue F GJ1 GJ2 GJ2 GJ2 Account No. 403 Credit Balance 7,424 7,424 7,888 15,312 6,032 21,344 720 22,064 Salaries Expense Explanation Date F GJ2 Debit 15,200 Account No. 622 Credit Balance 15.200 25/Sep Paid cash for salaries Advertising Expense Date Explanation 22/Sep Received bill for advertising expense F GJ2 Debit 500 Account No. 655 Credit Balance 500 Food and Drinks Expense Date Explanation 30/Sep Paid for dinner with client F GJ4 Debit 57 Account No. 668 Credit Balance 57 Repair Expense Date Explanation 25/Sep Paid for repairs to furniture F GJ3 Debit 300 Account No. 684 Credit Balance 300 Utilities Expense Explanation Received bill for utilities expense Date 26/Sep F GJ3 Account No. 690 Credit Balance 500 Debit 500 Elite Consulting Inc. Unadjusted Trial Balance September 30, 2014 Cash Accounts receivable Prepaid rent Furniture Accumulated depreciation, furniture Machinery Accounts payable Unearned consulting revenue Share capital Dividends Retained earnings Consulting revenue earned Salaries expense Advertising expense Food and drinks expense Repair expense Utilities expense Totals Debit Credit 160,071 102,956 7,200 59,000 4,500 13,200 63,200 12,000 172,000 3,780 89,000 22,064 15,200 500 57 300 500 362,764 362,764 *** Eine Consulting in is a mal computer Consulting business. The company is organized as a corporation and provides consulting service computer system installations, and custom program development. Elite Contuting no. howed the following phabetized post closing a balance August 31, 2014 ACCOM Balance Accounts payat 40,500 Accounts receivable 19.500 Acould depreciation. Furture 4,500 Cash 14+ 500 Furniture 50.000 Rodrige 25.000 Share Capital 147.000 NG . There were 17.000 shares sued and tunding on August 31, 2014 Depreciation on the fumiture is $450 per month De Consulting inc' ses expere is a total of 5000 per day for each workday (Monday-Friday in the month for my please gore al statutory holidays) Page GJ2 Credit F Page Gj1 Debit Credit 25,000 25,000 Debit 7,888 7.888 7,424 6,032 7.424 6,032 General Journal Date Account Explanation F 1/Sep Cash Share Capital Issued shares 1/Sep Accounts Receivable Consulting Revenue Earned Eamed consulting revenue 1/Sep Prepaid Rent Cash Prepaid for rent 1/Sep Cash Uneamed Consulting Revenue Received payment for consulting in advance 2/Sep Machinery Accounts Payable Received machinery 7,200 500 General Journal Date Account Explanation 15/Sep Accounts Receivable Consulting Revenue Eamed Earned consulting revenue 15/Sep Accounts Receivable Consulting Revenue Eamed Earned consulting revenue 22/Sep Advertising Expenso Accounts Payablo Received bill for advertising expense 24/Sep Cash Consulting Revenue Earned Earned and received consulting revenue 25/Sep Salaries Expense Cash Pald cash for salaries 7,200 500 12,000 12,000 720 720 13,200 13,200 15,200 15,20 Page GJ3 F Debit Credit 300 300 General Journal Dato Account Explanation 30/Sep Food and Drinks Expense Cash Paid for dinner with client Page Gj4 F Debit Credit 57 57 500 500 General Journal Date Account Explanation 25/Sep Repair Expenso Cash Paid for repairs to furniture 26/Sep Utilities Expense Accounts Payable Received bill for utilities expense 29/Sep Cash Accounts Receivable Received customer payment 30/Sep Accounts Payable Cash Paid bill for utilities expense 30/Sep Dwidends Cash Dividends 7.888 7,888 500 500 3.780 3.780 a) Prepare the appropriate adjusting entries on September 30, 2014. HINT. Where might you look to find information to prepare the adjusting entries? NOTE The acusting entries will be automatically posted to the general ledger when you click "sumir and the correct adjusted general ledger balances will be available in the solution to Part 4 Boneral Journal Page GUS Do Account Explanation F Debit Credit . b) What is the next step in the accounting cycle? Propare an unadjusted trial balance Prepare closing entries Prepare financial statements This is the last step Post transactions o Prepare an adjusted trial balance Prepare a post-dosing trial bwance Analyze and joumakze transactions F Debit Cash Date Explanation 31/Aug Opening balance 1/Sep Issued shares 1/Sep Prepaid for rent 1/Sep Received payment for consulting in advance 24/Sep Earned and received consulting revenue 25/Sep Paid cash for salaries 25/Sep Paid for repairs to furniture 29/Sep Received customer payment 30/Sep Paid bill for utilities expense 30/Sep Dividends 30/Sep Paid for dinner with client GJ1 25,000 GJ1 GJ1 12,000 GJ2 720 GJ2 GJ3 GJ3 7,888 GJ3 GJ3 GJ4 Account No. 10 Credit Balance 141,500 166,500 7,200 159,300 171,300 172,020 15,200 156,820 300 156,520 164,408 500 163,908 3,780 160,128 57 160,071 F Debit Accounts Receivable Date Explanation 31/Aug Opening balance 1/Sep Earned consulting revenue 15/Sep Earned consulting revenue 15/Sep Earned consulting revenue 29/Sep Received customer payment GJ1 GJ2 GJ2 GJ3 7,424 7,888 6,032 Account No. 106 Credit Balance 89,500 96,924 104,812 110,844 7,888 102,956 Prepaid Rent Explanation F GJ1 Date 1/Sep Account No. 131 Credit Balance 7,200 Debit 7,200 Prepaid for rent F Debit Account No. 161 Credit Balance 59,000 Furniture Date Explanation 31/Aug Opening balance Accumulated Depreciation, Furniture Date Explanation 31/Aug Opening balance F Debit Account No. 162 Credit Balance 4,500 Machinery Explanation F GJ1 Date 2/Sep Account No. 169 Credit Balance 13,200 Debit 13,200 Received machinery TI Debit Accounts Payable Date Explanation 31/Aug Opening balance 2/Sep Received machinery 22/Sep Received bill for advertising expense 26/Sep Received bill for utilities expense 30/Sep Paid bill for utilities expense GJ1 GJ2 GJ3 GJ3 Account No. 201 Credit Balance 49,500 13,200 62,700 500 63,200 500 63,700 63,200 500 Unearned Consulting Revenue Explanation Received payment for consulting in advance Date 1/Sep Debit F GJ1 Account No. 230 Credit Balance 12,000 12,000 Share Capital Explanation F Debit Date 31/Aug 1/Sep Opening balance Issued shares Account No. 301 Credit Balance 147,000 25,000 172,000 GJ1 Dividends Explanation Date 30/Sep Dividends F GJ3 Debit 3,780 Account No. 302 Credit Balance 3,780 Retained Earnings Explanation F Debit Date 31/Aug Opening balance Account No. 318 Credit Balance 89.000 Debit Date 1/Sep 15/Sep 15/Sep 24/Sep Consulting Revenue Earned Explanation Earned consulting revenue Earned consulting revenue Earned consulting revenue Earned and received consulting revenue F GJ1 GJ2 GJ2 GJ2 Account No. 403 Credit Balance 7,424 7,424 7,888 15,312 6,032 21,344 720 22,064 Salaries Expense Explanation Date F GJ2 Debit 15,200 Account No. 622 Credit Balance 15.200 25/Sep Paid cash for salaries Advertising Expense Date Explanation 22/Sep Received bill for advertising expense F GJ2 Debit 500 Account No. 655 Credit Balance 500 Food and Drinks Expense Date Explanation 30/Sep Paid for dinner with client F GJ4 Debit 57 Account No. 668 Credit Balance 57 Repair Expense Date Explanation 25/Sep Paid for repairs to furniture F GJ3 Debit 300 Account No. 684 Credit Balance 300 Utilities Expense Explanation Received bill for utilities expense Date 26/Sep F GJ3 Account No. 690 Credit Balance 500 Debit 500 Elite Consulting Inc. Unadjusted Trial Balance September 30, 2014 Cash Accounts receivable Prepaid rent Furniture Accumulated depreciation, furniture Machinery Accounts payable Unearned consulting revenue Share capital Dividends Retained earnings Consulting revenue earned Salaries expense Advertising expense Food and drinks expense Repair expense Utilities expense Totals Debit Credit 160,071 102,956 7,200 59,000 4,500 13,200 63,200 12,000 172,000 3,780 89,000 22,064 15,200 500 57 300 500 362,764 362,764 *** Eine Consulting in is a mal computer Consulting business. The company is organized as a corporation and provides consulting service computer system installations, and custom program development. Elite Contuting no. howed the following phabetized post closing a balance August 31, 2014 ACCOM Balance Accounts payat 40,500 Accounts receivable 19.500 Acould depreciation. Furture 4,500 Cash 14+ 500 Furniture 50.000 Rodrige 25.000 Share Capital 147.000 NG . There were 17.000 shares sued and tunding on August 31, 2014 Depreciation on the fumiture is $450 per month De Consulting inc' ses expere is a total of 5000 per day for each workday (Monday-Friday in the month for my please gore al statutory holidays) Page GJ2 Credit F Page Gj1 Debit Credit 25,000 25,000 Debit 7,888 7.888 7,424 6,032 7.424 6,032 General Journal Date Account Explanation F 1/Sep Cash Share Capital Issued shares 1/Sep Accounts Receivable Consulting Revenue Earned Eamed consulting revenue 1/Sep Prepaid Rent Cash Prepaid for rent 1/Sep Cash Uneamed Consulting Revenue Received payment for consulting in advance 2/Sep Machinery Accounts Payable Received machinery 7,200 500 General Journal Date Account Explanation 15/Sep Accounts Receivable Consulting Revenue Eamed Earned consulting revenue 15/Sep Accounts Receivable Consulting Revenue Eamed Earned consulting revenue 22/Sep Advertising Expenso Accounts Payablo Received bill for advertising expense 24/Sep Cash Consulting Revenue Earned Earned and received consulting revenue 25/Sep Salaries Expense Cash Pald cash for salaries 7,200 500 12,000 12,000 720 720 13,200 13,200 15,200 15,20 Page GJ3 F Debit Credit 300 300 General Journal Dato Account Explanation 30/Sep Food and Drinks Expense Cash Paid for dinner with client Page Gj4 F Debit Credit 57 57 500 500 General Journal Date Account Explanation 25/Sep Repair Expenso Cash Paid for repairs to furniture 26/Sep Utilities Expense Accounts Payable Received bill for utilities expense 29/Sep Cash Accounts Receivable Received customer payment 30/Sep Accounts Payable Cash Paid bill for utilities expense 30/Sep Dwidends Cash Dividends 7.888 7,888 500 500 3.780 3.780