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Ruiz Consulting For the Month Ended November 30, 20XX Trial Balance Debit Credit Credit Account Name Debit Debit Credit Debit AR Prepaid Insurance Supplie Computer

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Ruiz Consulting For the Month Ended November 30, 20XX Trial Balance Debit Credit Credit Account Name Debit Debit Credit Debit AR Prepaid Insurance Supplie Computer Accumulated Depreciation A/P Unearned Revenue Ruiz, Capital Ruiz, withdrawals Consulting Revenue Wages, Exp. Utility Exp. Telephone Exp. Insurance Exp. Supplies Exp. Depreciation Exp. Wages Payable Net Income Rui Consulting Services General Ledger Accumulated Depreciation Unearned Revenue Wages Payable Ruiz, Capital Ruiz, withdrawals Consulting Revenue Utility Exp. Telephone Exp. Wages Exp. Depreciation Exp. Insurance Exp. Supplies Exp. The Accounting Cycle: Nov. 1: Luis Ruiz Invests $20.000 to start his own consulting agency Nov. 1: Purchased a one-year fire Insurance policy, $960. 52 500 down with balance due in 60 days. Nov. 5: Acquired a computer for $10,000, paying $3,500 Nov. 6: Purchased office supplies on account from Taylor Supply, Nov.9: Pald Taylor Supply $400 on account. Nov. 10: Billed Barkley Insurance for consulting services performed, $6,000. Nov. 12: Collected $1,500 from Barkley Insurance. Nov. 12: Hired secretary to be paid $600 per week. Nov. 15: Collected $1,000 from Bryant Realty for consulting services to be performed. Nov. 26: Paid the secretary two weeks' wages, $1,200. Nov. 29: Received and paid the November utility bill, $700. Nov. 30: Received (but did not pay) the November telephone bill, $100. Nov. 30: Performed consulting services for Bing Enterprises, $4,800, to be collected in December Nov. 30: Ruiz withdrew $1,400 from the business for personal living expenses. Required: 1. Journalize and post the November transactions for Ruiz Consulting. 2. Prepare a Trial Balance as of November 30. 3. Prepare and post adjusting entries for the month ended November 30. a. Expired insurance, $80 b. Supplies on hand at November 30, $900 c. Monthly depreciation of computer, $250 d. 20% of advance fee from Bryant Brokerage was earned by November 30 e. Accrued 3 days wages, $360 4. Prepare an Adjusted Trial Balance. 5. Prepare the following Financial Statements a. Income Statement for the month ended November 30. b. Statement of Owner's Equity for the month ended November 30. c. Balance Sheet as of November 30. - Prepare and post the closing entries

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