Team, you have been called in to help James Miller who has operated a part-time

architectural business from his home. His accountant has decided to quit working

for him and Miller has decided he needs a more organized approach to keeping

his accounting records. (Miller has kept his accounting records in a big file

cabinet). Miller has decided to move to a rented office space and is planning to

operate the business on a full-time basis. The business will be known as Miller

Architects, Inc. Miller also has the following transactions that took place during

the month of June 20XX:

June 1. The following assets were received from James Miller in exchange

for common stock: Cash, $ 23,400; accounts receivable, $ 4,000; supplies,

$1,900 and Office Equipment, $ 15,500. There were no liabilities received.

June 1. Paid six months' rent in advance on a lease rental contract, $ 6,000.

June 2. Paid the premiums on property and casualty insurance policies, $

2,400. ( The policy is for six months)

June 4. Received cash from the Smith Company as an advance payment for

services to be provided and it will be recorded as unearned fees for $ 5,000.

June 5. Purchased a new computer on account from Stone's Computer

Nook for $ 3,000. The useful life has been determined to be 5 years.

June 6. Received cash from clients on account for $ 2,200.

June 9. Paid cash to Greenfield Tribune for a newspaper advertisement, $

150.

June 12. Recorded services provided on account to various clients for the

period of June 1 thru 12, for $ 4,900.

June 13. Paid Stone's Computer Nook for part of the liability incurred on

June 5, $ 750.

June 14. Paid part-time receptionist for two weeks' salary, $ 900.

June 17. Paid cash for supplies, $ 900.

June 20. Purchased additional office equipment on account from Merrick

Office Supply store for $ 2,500.

June 20. Recorded services provided on account to various clients for the

period of June 13-20, $ 3,100.

June 24. Received cash from clients for fees earned during the period of

June 17 thru 24, $ 5,400.

June 26. Received cash from clients on account from June 12 services, $

2,000.

June 27. Paid part-time receptionist for two weeks salary, $ 900.

June 29. Paid telephone bill for June, $ 320.

June 29. Paid electricity bill for June, $ 485.

June 30. Recorded cash from clients for fees earned for the period of June

25-30, $ 3,200.

June 30. Recorded services provided on account for the remainder of June,

$ 1,700.

June 30. Paid dividends of $ 3,000.

Possible adjustment data for Miller Architects as of June 30, 20XX:

a. Insurance expired during June is $400.

b. Supplies on hand on June 30 is $ 2,250.

c. Monthly depreciation of office equipment is $ 300.

d. Monthly depreciation of computer is $ 50

e. Rent expired during June is $1,000.

f. Accrued receptionist salary on June 30 is $ 150.

g. Unearned fees on June 30 is $ 4,000.

Questions for this project:

Your job is to review the transactions and help Miller Architects, Inc.

develop a chart of accounts that Miller Architects, Inc. will utilize in the

future.

Your next task to record these transactions using Excel. You will need to

prepare a general journal and a general ledger for Miller Architects

After the recording the transactions and posting the transactions into the

general journal and general ledger that you have created, please complete

the following tasks:

create an adjusting trial balance.

Prepare the adjusting entries and post to the general ledger.

create an adjusted trial balance.

Prepare the financial statements for the month of June.

Prepare the closing entries for the month of June and post to the general

ledger.

Create post-closing trial balance for the month of June.

Suggested practice: Create tabs in the excel worksheet to help with each of

these tasks.

Final Requirement: Once these tasks are completed please do PowerPoint

presentation using Voice-Thread that will highlight the following:

Creation of your chart of accounts

General Journal Entry Presentation

Creation of General Ledger which highlights posting of transactions for the

month along with posting the adjusting and closing entries.

Adjusted Trial Balance

Adjusted Trial Balance

Financial Statement Preparation

Closing Entry Preparation

Post-Closing Trial Balance

One page memo recommendation to Miller regarding the possibility of

acquiring an accounting package to meet the needs of his organization.