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The following journal entries are extracted from Shawn Inc. during the period 30 th June, 2021 Journal Entries: Date Details Debit Credit 1-Jun Cash 185,000

The following journal entries are extracted from Shawn Inc. during the period 30th June, 2021

Journal Entries:

Date

Details

Debit

Credit

1-Jun

Cash

185,000

Capital Stock

185,000

2-Jun

Equipment

75,000

Cash

75,000

3-Jun

Rent Expense

4000

Cash

4000

5-Jun

Cash

9000

Fees Earned

9000

7-Jun

Accounts Receivable

12,500

Fees Earned

12,500

9-Jun

Supplies

8700

Accounts Payable

8700

11-Jun

Wages Expense

42000

Cash

42000

13-Jun

Prepaid Insurance

19,400

Cash

19,400

15-Jun

Cash

26,000

Fees Earned

26,000

17-Jun

Miscellaneous Expense

5000

Cash

5000

29-Jun

Dividends

3500

Cash

3500

Required:

  1. Preparation of Ledger Accounts
  2. Prepare the Trial Balance for the period 30th June 2021.
  3. Prepare the Income Statement for the period 30th June 2021.
  4. Prepare Retained Earnings Statement for the period 30th June 2021.
  5. Prepare the Balance Sheet for the period 30th June 2021.

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