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Prepare journal entries for each transaction listed above based on Emma Services's chart of accounts. Use Section I ( a ) : Initial Journal Entries
Prepare journal entries for each transaction listed above based on Emma Services's chart
of accounts. Use Section I a: Initial Journal Entries template.
Post the journal entries to accounts using Section II template.
Enter the unadjusted balance into Section III template the unadjusted trial balance
At the end of August, the following adjustment data were assembled. Prepare the
adjusting journal entries using Section I b: Adjusting Journal Entries template. Then,
post the adjusting journal entries to the Taccounts use the same Taccounts in Question
a Insurance expired during August is RM
b Depreciation of office equipment for August is RM
c Rent expired during August is RM
d Supplies on hand on August are RM
e Unearned fees on August are RM
f Accrued receptionist salary on August is RM
Enter the adjustment data into Section III template the adjustment columns
Prepare an adjusted trial balance as at August using Section III template the
adjusted trial balance
Prepare an income statement, a statement of owner's equity, and a balance sheet using
Section IV templates.
Prepare the closing journal entries using Section I c: Closing Journal Entries and post to
the appropriate account.
Finally, prepare a postclosing trial balance using Section III template the postclosing
trial balancePARLA:RECORDING BUSINESS TRANSACTIONS
For the past several years, Puan Dayani is a part time image consultation from her home. As of
August Puan Dayani decided to move to rented shop lots to operate the business, which
was to be known as Emma Services, on a fulltime basis. Emma Services entered the following
transactions during August:
August The following assets were received from Puan Dayani: cash, RM; accounts
receivable, RM; supplies, RM; and office equipment, There
were no liabilities received.
Paid two months' rent on a lease rental contract, RM
Received cash from clients as an advance payment for services to be provided and
recorded it as unearned fees, RM
Paid the premiums on property and casualty insurance policies, RM
Paid cash for a social media advertisement, RM
Received cash from clients on account, RM
Purchased additional office equipment on account from Office Supply Co
RM
Paid Office Supply Co for part of the debt incurred on August RM
Provided services on account for the period August RM
Paid receptionist for two weeks' salary, RM
Paid cash for supplies, RM
Received cash from cash clients for fees earned during the period August
Provided services on account for the period August RM
Received cash from cash clients for fees earned for the period August
Received cash from clients on account, RM
Paid receptionist for two weeks' salary, RM
Paid telephone bill for August, RM
Paid electricity bill for August, RM
Received cash from cash clients for fees earned for the period August
RM
Provided services on account for the remainder of August, RM
Emma withdrew RM for personal use.
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