Take home Test

Autumn Andrews Advertising began business on June $1$st and had the following transactions:

$6-1$: Autumn Andrews contributed $$400,000$ cash to AAA.

$6-1$: Signed a lease and paid $$40,000$ in cash. The lease is two months long, beginning on June $1$ st$.$

$6-2$: AAA purchased furniture on account for $$40,000.$

$6-3$: AAA received a $$100,000$ cash advance from Tara Taylor for future advertising services.

$6-5$: Autumn Andrews withdrew $$30,000$ cash from AAA.

$6-7$: AAA provided advertising services to Bella Barnes and received $$200,000$ on account.

$6-8$ Purchased supplies on account from Staples $$10,000$

$6-10$: Bella Barnes paid her accounts receivable in cash, $$200,000$

$6-12$: AAA paid staples accounts payable in cash, $$10,000.$

Information for Adjustments:

a$.$ Provided Tara Taylor with $$60,000$ of Advertising services.

b$.$ Depreciation expense $$1,000$

c$.$ Salaries earned but not paid in June, $50,000$

d$.$ Revenue earned but not recorded $$60,000$

e$.$ Utilities expense not recorded $$10,000$

f$.$ Unused supplies $$5,000$

g$.$ Rent expense for month $$20,000$

Record the transactions in the journal, post them to the ledger, prepare a trial balance, prepare adjusting journal entries, post them to the ledger, prepare an adjusted trial balance, prepare an income statement, an owner's equity statement and a balance sheet, prepare closing entries, post them to the ledger, and prepare a post closing trial balance