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Please place the 7 May,2020 business transactions in the General Journal, post to General Ledger, pencil foot the General Ledger( come up with a balance
Please place the 7 May,2020 business transactions in the General Journal, post to General Ledger, pencil foot the General Ledger( come up with a balance for each T accounts). Prepare a Trial balance, Income Statement, Statement of Owner's Equity, and Balance Sheet.
Haim's Tour Service is owned and operated by Haim Guttman. Guttman's journal is reproduced below and the ledger is reproduced on the following page. (The accounts shown are not the entire ledger, but only the accounts affected by the entries that are required.) The following transactions were completed during May 20h, the first month of operations: a) 20 May 1 Guttman invested $15,000 cash in the business. 1 Paid office rent for May, 5600. 3 Purchased supplies on account from Showers Supply Co., 5894.50. 4 Purcbased office equipment for cash, 5980.70. 21 Received a check for $640 from Wanderer Club for tour services. 29 Guttman withdrew $700 for personal use. 30 Paid S400 to Showers Supply Co. in partial payment of amount due. Required: (1) Record the foregoing transactions in the journal Reproduced below. (2) Post the journal entries to tbe ledger accounts provided on the next page. b) Prepare a trial balance as of May 31, for Haim's Tour Service. JOURNAL DATE DESCRIPTION Com CRON LEDGER ACCOUNT Cash Acct. No. 11 Credit Date item Debit ACCOUNT Supplies Acct. No.IS ACCOUNT Office Equipment Acct. No. 18 ACCOUNT Accounts Payable ACCOUNT Guttman Capital Acct. No. 31 ACCOUNT Guttman Drowing Acct. No. 32 ACCOUNT Professional Pees Acct. No. 1 ACCOUNT Rent Expense Acct. No AMOUNTS TO $450 FOR MAY
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