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Your group has been approached for assistance by Paul Zoukis the owner of Zoukis Forklift Services Ltd because the company has no accounting personnel to
Your group has been approached for assistance by Paul Zoukis the owner of Zoukis Forklift Services Ltd because the company has no accounting personnel to prepare its accounting records and financial statements. The companys financial year end is December each year and you have been provided the following information and transactions for :
Jan Balances from Cash $; Accounts Receivable $; Supplies $; Machinery and Equipment $; Other Creditors $; and Capital $
Jan The following assets were received from Paul Zoukis in exchange for capital in the company: cash $ accounts receivable $ supplies $ and Machinery and Equipment $
Feb Paid fourteen months rent on a lease rental contract at $ per month.
Mar Paid the premiums on the property and peril insurance policies for fifteen months amounting to $
April Received cash from clients as an advance payment for services to be provided in the coming months, $
May Purchased forklift on account from Fatman Machinery and Equipment for $
June Received cash from clients on account, $
June Paid cash for security services amounting to $
Aug Paid Fatman Machinery and Equipment $ of the debt incurred on May
Sept Recorded services provided on account for the period July Sept $
Sept Paid parttime workers salary, $
Oct Recorded cash from cash clients for fees earned during the first half of year, $
Oct Paid cash for supplies, $
Oct Recorded services provided on account for the period June to July, $
Nov Recorded cash from cash clients for fees earned for the period September Nov $
Nov Received cash from clients on account, $
Nov Paid parttime workers for salary $
Dec Paid telephone bill for the year $
Dec Paid electricity bill for the year $
Dec Recorded cash from cash clients for fees earned for the period September Dec $
Dec Recorded services provided on account for October to December $
Account #
Account Name
Cash
Accounts Receivables
Supplies
Prepaid Rent
Prepaid Insurance
Machinery and Equipment
Other Creditors
Salaries Payable
Unearned Fees
Capital Stock
Fees Earned
Salary Expense
Rent Expense
Supplies Expense
Insurance Expense
Utilities Expense
Security Expense
Income Summary
Post the journal entries to their respective ledger accounts.
Prepare a trial balance based on the balances derived after completing requirement #
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