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Prepare an unadjusted trial balance. Jul. 1 The following assets were received from Steffy Lopez in exchange for common stock: cash, $14,000; accounts receivable, $20,800;
Prepare an unadjusted trial balance. |
Jul. | 1 | The following assets were received from Steffy Lopez in exchange for common stock: cash, $14,000; accounts receivable, $20,800; supplies, $3,100; and office equipment, $7,500. There were no liabilities received. |
1 | Paid two months rent on a lease rental contract, $4,800. | |
2 | Paid the premiums on property and casualty insurance policies, $4,620. | |
4 | Received cash from clients as an advance payment for services to be provided, and recorded it as unearned fees, $5,000. | |
5 | Purchased additional office equipment on account from Office Station Co., $6,500. | |
6 | Received cash from clients on account, $15,100. | |
10 | Paid cash for a newspaper advertisement, $400. | |
12 | Paid Office Station Co. for part of the debt incurred on July 5, $5,200. | |
12 | Recorded services provided on account for the period July 112, $13,300. | |
14 | Paid receptionist for two weeks salary, $1,700. |
Jul. | 17 | Recorded cash from cash clients for fees earned during the period July 117, $9,450. |
18 | Paid cash for supplies, $600. | |
20 | Recorded services provided on account for the period July 1320, $6,750. | |
24 | Recorded cash from cash clients for fees earned for the period July 1724, $4,000. | |
26 | Received cash from clients on account, $12,000. | |
27 | Paid receptionist for two weeks salary, $1,700. | |
29 | Paid telephone bill for July, $325. | |
31 | Paid electricity bill for July, $675. | |
31 | Recorded cash from cash clients for fees earned for the period July 2531, $5,400. | |
31 | Recorded services provided on account for the remainder of July, $3,000. | |
31 | Paid dividends, $12,500. |
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