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Question 5 (20 Marks) The post-closing trial balance of Sharon Smith Accounting Services as at 30 June 2021 is as follows: Debit $ Credit $
Question 5 (20 Marks) The post-closing trial balance of Sharon Smith Accounting Services as at 30 June 2021 is as follows: Debit $ Credit $ Cash at bank 23,000 Accounts receivable 8,200 Office supplies 550 Office equipment 12,000 Accumulated depreciation - Office equipment 2,400 Accounts payable 4,500 Salaries payable 2,700 Sharon, capital 34,150 43,750 43,750 The following transactions occurred during the month of July 2021. July 1 Paid employee salaries, $2,700 for June. Sharon pays her employees accrued salaries on the first day of each calendar month. 1 Paid office rent for the month of July, $2,300. 8 Received $7,200 cash from a client on account. 9 Purchased office supplies on credit, 52,000 Paid $3,500 of the accounts payable. 15 Invoiced customers for accounting services performed, 512,300. Sharon withdrew capital of $2,250. 31 Paid $4,200 for a one-year insurance policy. Required Journalise the transactions for the month of July 2021. Narrations are required. (16 Marks) b) Prepare the cash at bank ledger account as at 31 July 2021. (4 Marks) 14 25 a)
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