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There is so much information here and it is truly overloading me, can someone work me (and show me) how to create a ledger with
There is so much information here and it is truly overloading me, can someone work me (and show me) how to create a ledger with this information. Thank you!
At June 30, 2017, the end of its most recent fiscal year, Ayayai Computer Consultants' post-closing trial balance was as follows: Debit Credit $3,870 890 510 Cash Accounts receivable Supplies Accounts payable Unearned service Common stock Retained earnings $300 830 2,700 1,440 $5,270 revenue $5,270 The company underwent a major expansion in July. New staff was hired and more financing was obtained. Ayayai conducted the following transactions during July 2017,and adjusts its accounts monthly 1 Purchased equipment, paying $ 3,200 cash and signing a 2-year note payable for $ 14,800. The equipment has a 4-year useful life. The note has a 6% interest rate which is payable on the first day of each following month. Issued 14,800 shares of common stock for $ 37,000 cash. Paid $ 2,400 cash for a 12-month insurance policy effective July 1. Paid the first 2 (July and August 2017) months' rent for an annual lease of office space for $ 3,000 per month. Paid $2,800 for supplies. Visited client offices and agreed on the terms of a consulting project.Ayayai will bill the client, Connor Productions, on the 20th of each month for services performed Collected $ 890 cash on account from Milani Brothers. This client was billed in June when Ayayai performed the service. Performed services for Fitzgerald Enterprises. This client paid $ 830 in advance last month. All services relating to this payment are now comp Paid $ 300 cash for a utility bill. This related to June utilities that were accrued at the end of June. Met with a new client, Thunder Bay Technologies. Received $ 8,900 cash in advance for future services to be performed. Paid semi-monthly salaries for $ 8,100. July 2 3 3 6 9 10 13 14 16 18Step by Step Solution
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