Sullivan Realty

check figure income for June 30 $11,243.00

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Sullivan Realty Reviewing the Accounting Cycle Twice This comprehensive review problem requires you to complete the accounting cycle 1 for Sullivan Realty twice. This will allow you to review Chapters 1 to 5 while reinforcing the relationships among all parts of the accounting cyele. By completing rwo cycles, you will see how the ending June balances in the ledger are used to accumulate data in July. (The blank forms you need are on Mylab Accounting. On june 1, John Sullivan opened a real estate office in. Hamilion called Sullivan Realty. The following transactions were completed for the month of June. Note that facsimile documents have been provided to illustrate these events: John Sullivan invested san,000 cashitin the retl cstate ageney, along with 54 non worth of office equipment. Rented office space and pail three monthe rent in advance, 53,001, chegue, No. 601. Sullivan Realty Chart of Accounts. Owner's Equity 311 John Sullivan, Capital 312 Johin Sullivan, Withdrawals 313 income Sumimary. 1: 05337123448b51 2. 3a. 2674 King Street Wost Hamilton, Ontario LOH 1A1 INVOICE Phone (905) 527.9755; Fax (905) 527-9756 INVOICE NO. WEA1097 DATE: June 4/22 TERMS: Cash To: Sullivan Pealty Ship To: 485 King Street West June 4/22 Hamilton, Ontario LOH W3 THANK YOU FOR YOUR BUSINESSI b. THE ROYAL EANK OF CANADA Mul UNATCH SULLIVAN REALTY FOR Arstonatile - I I. W. WEA1047 John Sullivan II"000602 I: 05337123798 'b 4a. Office Depot INVOICE 4b. 5. Office Depot INVOICE 6b. 7. 8. 9. SULLIVAN REALTY COMMISSION REPORT Namez Enst End Land Developers \begin{tabular}{|l|l|c|c|c|} \hline Date & Sales Description & Sales No. & Commission Amount & \\ \hline Jun 18/22 & Lot at 999 King Street East & Al002 & $6.500.00 & \\ \hline & & & & \\ \hline & & & & \\ \hline & & & & \\ \hline COO2 & & & & \\ \hline \end{tabular} 10. 11a. curater ACCOUAT 11a. 12. 13a. \begin{tabular}{l|l} AUTO & 2674 king Street West \\ Hamilion, Ontarlo L9H 1A1 \\ CIIY & Phone (905)527.9755, Fax (905)527.9756 \\ \hline \end{tabular} INVOICE involce NO. WES37SO DATE: June 25/22 TERMS: Cash To: Sulivan feaity 485 King Street Wost Xlamilion, Ontario LOH EW3. 14. 14. 15a. \#2110 Steel Place Hamilton, Ontario L.9G 4B4 Phone (905) 529-7190 Fax (905) 529-0063 Your Statement In Account with Account 109444710190 Billing Period: Jane 1 to June 30 . Openad aseriant fune 3, 2022 . Thank you: Solos Monthily rental and changes lostenice 510m Amount weition: Torathue 15b. 16. Required Work for June 1. Journalize transactions and post to ledger accounts. 2. Prepare a trial balance in the first two columns of the worksheet and complete the worlshect using the following adiustment data: a. One month's rent had expired. b. An inventory shows $50 worth of office supplies remaining. c. Depreciation on office equipencnt, $100. d. Depreciation on automobile, 5200 , 3. Prepare a June income statement, statement of owner's equiry, and balance sheet. 4. From the wurkshect, jourmalize and post adjusting and closing cntrieg (page 3 of journal). 5. Prepare a post-closing tral balance