What have been done so far

What needs to be done

Accounting 101 Comp. Problem Mike Shaw began his contracting business, Mike Shaw Contractors, on April 1, 2017 The post dosing trial balance for Mike Shaw Contractors for April is down below. During May, Mike Shaw Contractors entered into the folowing transactions: Chart of Accounts for Mike Shaw Contractors 11 Cash 3 1 Mike Shaw, Capital 12 Accounts 32 Mike, Shaw, Rewable Drawing 14 Supplies 33 Income Summary 15 Prepaid Rent 4 1Fees Eamed 16 Prepaid Insurance S1 Salary Expense 18 Office Equipment .52 Rent Expense 19 Accumulated 53 Supplies Expense Depreciation 21 Accounts Payable 54 Deprexation 22 Salaries payable 55 Insurance Expense 23 Uneamed Fees 59 Miscellaneous Expense May Received cash from clients as an advance payment for services to be 3. provided and recorded it as uneamed fees, $4,500. 5. Received cash from clients on account, $2,450. 9. Paid cash for a newspaper advertisement, $225. 13. Paid Office Station Co. for part of the debt incurred on April 9, $640, 15. Recorded services provided on account for the period May 1-15, 59.180. 16. Paid part-time receptionist for two weeks' salary induding the amount owed on April 30, $750. 17. Recorded cash from cash dients for fees earned during the period May 1 16. $8,360. Record the following transactions on Page 6 of the journal 20. Purchased supplies on account, $735. 21. Recorded services provided on account for the period May 16-20, Post-Closing Trial Balance, Mike Shaw Contractors Mike Shaw Contractors Post-Closing Trial Balance April 30, 2017 Dehits 54,820 ACOURS Receivable 25. Recorded cash from cash dients for fees eamed for the period May 17-23, $7,900. 27. Received cash from dients on account, $9,520. 28. Pald part time receptionist for two weeks' salary, $750. 30. Paid telephone bill for May, $260. 31. Paid electity bill for Mary, $810. 31. Recorded cash from cash dients for fees sated for the period May 26-31 $3,300. 31. Recxded services provided on account for the remainder of May, $2,650. 31. Mike Show withdrew $10,500 fox personal use. 3.400 1,350 3.200 1.500 14,500 Prema nurance Office Equipment Acoumed Depression Accounts Payable Salaries Payable 330 Mike Shaw, Capital 2.500 42,300 46,050 Instructions: 1. The chart of accounts and post-closing trial balance (April 2017) for Mike Shaw Contractors is shown below. For each account in the post-closing trial balance, enter the balance in the appropriate Balance column of a four-column account. Date the balances May 1, 2017, and place a check mark in the Posting Reference column. Journalize each of the May transactions in a two-column journal starting on Page 5 of the journal and using Mike Shaw's chart of accounts. (Do not insert the account numbers in the journal at this time.) 2. Post the journal to a ledger of four-column accounts. 1. and Z. JOURNAL PAGE 6 JOURNAL CREDIT DESCRIPTION TI DEBIT $4820 DATE 5/3 CREDIT 5/21 DESCRIPTION Accounts Receivable Fees Earned DEBIT 5-1500 Cash $4820 Uneamed Fees 54500 525 Cash 59520 8/5 Cash $7450 Fees Earned IST 59520 Accounts Receivable $2450 5/28 Salary Expense $750 579 Miscellaneous Expenses Cash 5225 $750 $260 5/13 Accounts Payable Miscellaneous Expense Cash 5640 231 Miscellaneous Expense 5/15 c counts Receivable 9180 Fees are 1/16 Salary Expense Fees Earned Salary Pavable 3120 31 152650 Accounts Receivable Fees Eamed PIPIRIP BEETE RRRRRRRR 5/17 Cash 8360 Fees Eamed 531 58360 Mike Shaw. Drawing Cash 510500 15/20 Supplies Accounts Payable ALL ALL ALL 1 Focus 32 COMPREHENSIVE PROBLEM. Continued COMPREHENSIVE PROBLEM 1. Continued 2., 6., and 9. GENERAL LEDGER ACCOUNT Cash ACCOUNT NO. 11 DATE DEL CATE TEM E LDENT CREDIT DEBAT CREDIT ACCOUNT Prepaid Rent T ACCOUNT NO 16 DEBIT ACCOUNT NO 12 ACCOUNT DATE Accounts Receivable ITEM DERIT CREDIT ORBIT ACCOUNT NO 18 DEBIT 13456 ACCOUNT Accounts Payable COMPREHENSIVE PROBLEM, Contmed DATE ITEM ACCOUNT Salanes Pavable DATE ITEM DEBT Fees Eamed ADCOUNT NO 41 DEBIT CREDIT ONE Mke Shaw Capital ITEN ACCOUNT Salary Expense I DEBIT CREDIT ACCOUNT Rent Expense ACCOUNT NO. 52 BALANCE CREDIT POS ACCOUNT Miscellaneous Expen ACCOUNT NO. 59 DATE ITEM REF DEBIT CREDIT DEBIT DEBIT CREDIT DEBIT CREDIT ACCOUNT Supplies Expense DATE DEBIT CREDIT ACCOUNT Depreciation Expense ACCOUNT NO 54 POST DATE TERET DEBIT CREDIT BALANCE DEBIT CREDIT ACCOUNT Insurance Expense ACCOUNT NO. 55 DATE ITEM DEBIT CREDIT DEBIT CREDIT