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Prepare a full accounting cycle for the following transaction in the books of Tesla education Services INC. for the month of January 2022. Jan 1
Prepare a full accounting cycle for the following transaction in the books of Tesla education Services INC. for the month of January 2022. Jan 1 Date Transactions The owner invested into the business Cash $14,000, Equipment $10,000, Computer $15,000 Salaries Paid $500 Received tutoring services revenue $15,000 Purchased machinery $500 on account Jan 5 Jan 7 Jan 10 Rent Paid $200 Jan 12 Jan 18 Utility Expense $350 Jan 20 Jan 25 Jan 27 Jan 31 Insurance Expense $400 Owner withdraw $4,500 from business to pay for his phone bill Paid $500 for machinery purchased on Jan 12 Received tutoring service revenue $4,000 Prepare- a.) Journal b.) Taccounts c.) Trial Balance d.) Income Statement e.) Statement of changes in equity f.) Balance Sheet
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