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please someone help me complete this problem Problem 3.5A Preparing financial statements from T accounts. LO 3-3, 3-5, 3-6 The accountant for the firm owned
please someone help me complete this problem
Problem 3.5A Preparing financial statements from T accounts. LO 3-3, 3-5, 3-6 The accountant for the firm owned by Randy Guttery prepares financial statements at the end of each month. The following transactions for Randy Guttery, Landscape Consultant took place during the month ended June 30, 2019. Transactions: a. Guttery invested $143,000 in cash to start the business. b. Paid $4,300 for the current month's rent. c. Bought office furniture for $15,020 in cash. d. Performed services for $8,900 in cash. e. Paid $1,080 for the monthly telephone bill. f. Performed services for $14,700 on credit. g. Purchased a computer and copier for $34,600; paid $11,300 in cash inediately with the balance due in 30 days. h. Received $7,350 from credit clients. 1. Paid $2,300 in cash for office cleaning services for the month. j. Purchased additional office chairs for $4,100, received credit terms of 30 days. k. Purchased office equipment for $23,000 and paid half of this amount in cash immediately, the balance is due in 30 days. 1. Issued a check for $7,700 to pay salaries. m. Performed services for $15,200 in cash. n. Performed services for $16,700 on credit. o. Collected $6,300 on accounts receivable from charge customers. p. Issued a check for $2,050 in partial payment of the amount owed for office chairs. q. Paid $530 to a duplicating company for photocopy work performed during the month. r. Paid $1,050 for the monthly electric bill. s. Guttery withdrew $7,300 in cash for personal expenses. Required: Prepare a trial balance, an income statement, a statement of owner's equity, and a balance sheet. Assume that the transactions too place during the month ended June 30, 2019. Determine the account balances before you start work on the financial statements Analyze: What is the change in owner's equity for the month of June? Analyze Trial Balance Income Statement Stmt of Balance Sheet Owners Eqty | Determine the account balances and prepare a trial balance for the mor RANDY GUTTERY, LANDSCAPE CONSULTANT Trial Balance June 30, 2019 Account Name Debit Credit ash Accounts receivable Office equipment Office fumiture Accounts payable Randy Guttery. Capital Randy Guttery, Drawing Fees income Rent expense Telephone expense Salaries expense Utilities expense Total S 0S 0 Trial Balance Income Statement Stmt of Owners Eqty Balance Sheet Analyze What is the change in owner's equity for the month of June? Change in owner's equity Step by Step Solution
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