Question $16-$Mohamed started his own delivery service, Cairo Deliveries, Inc. on June $1.$ The

following transactions occurred. $($YOU DO NOT NEED to write the question on top of your

answer. But make explanations below journal entries$)$

June $1)$ Invested $125\mathrm{.}000$ cash in the business.

June $2)$ Paid $900$ for office rent for the month.

June $3)$ Purchased office equipment for $13,000.$ Cairo Deliveries paid $2,000$ cash and signed a

note payable for the remaining balance.

July $1)$ Paid $600$ for employee salaries.

July $1)$ Bought a motor vehicle for $100\mathrm{.}000$ on account.

July $1)$ Paid $3\mathrm{.}600$ for motor vehicle insurance on account.

July $2)$ Purchased gasoline $($an expense$)$ for $150$ on account.

July $4)$ Performed $3\mathrm{.}000$ of services on account.

July $5)$ Paid $1\mathrm{.}000$ in cash dividends.

Aug $1)$ Paid $600$ for employee salaries.

Aug $6)$ Purchased supplies for $4\mathrm{.}400$ on account.

Aug $7)$ Received a cash payment of $750$ for services provided at July $4$ above.

Aug $9)$ Received cash of $1\mathrm{.}100$ for services provided.

Sep $1)$ Paid $600$ for employee salaries.

Sep $1)$ Made cash payment of $500$ on the note payable.

Oct $1)$ Paid $600$ for employee salaries.

Oct $3)$ Paid $450$ for utilities.

Nov $1)$ Paid for the gasoline purchased on account in number $8$ above.

Nov $1)$ Paid $600$ for employee salaries

Dec $31)$ Received cash of $800$ for services provided

a$.$ Supplies on hand at October $31$ are $1\mathrm{.}150.$

b$.$ Insurance premiums expired during year are $1\mathrm{.}800.$

c$.$ Depreciation of equipment during year is $3\mathrm{.}380.$

d$.$ Depreciation of motor vehicle during year is $10\mathrm{.}000.$

e$.$ Wages accrued but not paid at October $31$ are $600.$

Instructions:

a$.$ Journalize the transactions.

b$.$ Post to the ledger accounts.

c$.$ Prepare a trial balance.

d$.$ Journalize the required adjusting entries

e$.$ Post to the ledger accounts.

e$.$ Prepare an Adjusted Trial Balance.

f$.$ Prepare an income statement.

g$.$ Prepare a balance sheet.