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Transactions A. Genesis Adler invested $30,000 in the delivery service from his personal savings account. B. Bought delivery trucks on account, $14,000. C. Bought office
Transactions A. Genesis Adler invested $30,000 in the delivery service from his personal savings account. B. Bought delivery trucks on account, $14,000. C. Bought office equipment for cash, $1,500. D. Paid advertising expense, $500. E. Collected cash for delivery services rendered, $2,400. F. Paid drivers' salaries, $900. G. Paid gas expense for trucks, $1,100. H. Performed delivery services for a customer on account, $900. I. Telephone expense due, but unpaid, $100. J. Received $600 as partial payment of Transaction H. K. Genesis withdrew cash for personal use, $250. As Genesis Adler's newly hired accountant, you must perform the following: 1. The T accounts in the ledger have been set up for you. Record transactions in the T accounts. (Place the letter of the transaction next to the entry.) 2. Foot the T accounts where appropriate and determine the ending balances. 3. Prepare a trial balance at the end of July. 4. Prepare from the trial balance, in proper form, (a) an income statement for the month of July, (b) a statement of owner's equity, and (c) a balance sheet as of July 31,20XX
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