Do closing entries and post tb from a worksheet

After graduating from College you have decided to open a Bookkeeping
Consulting Firm. You did some consulting during last few months and you recently filed a
corporation starting July 2016. You should choose a name: NAME Consulting Inc.
Your new firm entered into the following transactions starting July 1st, 2016
1-Jul Following assets were received from you in exchange for 1000 shares of common stock:
Cash 13500
A/R 20800
Supplies 3200
Use straight line of Depreciation Office Equipment 7500
Office Equipment useful life: Years3
Residual Value: 320.00
1 The firm paid 2 months’ rent for a office space lease contract……………………. $5000
2 Paid one year insurance policy premium in advance 4500
4 Received advance cash from a new clients for future services5500
5 Purchased additional office equipment on account from Office Depot6500
6 Received cash from clients on account 15300
10 Paid cash for a local newspaper advertisement 400
12 Paid Office Depot for part of equipment purchased on account5200
12 Sent invoice #005 to a customer for 90 hrs consultation provided recently
14 Paid your receptionist for two weeks’ salary 1750
17 From a cash clients, you received cash after providing some consultation450
18 You paid by your business debit card to purchase some supplies600
20 Sent invoice #006 to a customer for the service provided during last few days
24 From a cash clients, you received cash after providing some consultation200
26 Received cash from clients on account 12000
27 Paid your receptionist for two weeks’ salary 1750
29 Received and paid telephone bill for July (Ch# 007) 300
31 Received and paid electricity bill for July (Ch# 008) 600
31 From a cash clients, you received cash after providing some consultation150
31 Sent invoice #007 to a customer for the service provided during last few days
31 Declared and paid dividends (Ch# 009) 1500
1 Instructions: Record the transactions & Post to the General Ledger accounts.
2 Prepare Bank Reconciliation and post the necessery General Journal Entries.
3 Prepare a worksheet with unadjusted trial balances in it. At the end of July analyze and
use these data to complete month-end adjustments.
a Supply on hand………………………………………………………………………………………………. $1525
b Record adjustments to Insurance, Rent and Equipment Depreciation
d Accrual receptionist salary on July 31st for one day.
e Unearned fees as of July 31 ……………………………………………2750
4 Journalize and post adjusting entries after completing the worksheet
5 Prepare an Income Statement, a Retained Earnings Statement, and a Balance Sheet
6 Prepare, record, and post closing entries.
7 Prepare a Post-closing Trial Balance.
8 Write a Memorandum to your bank in regards to Profitability of your new corporation.

this is a project, all the data have been provided, including general ledger, journal entries, bank reconciliation, etc. you will only need to do closing entries and post TB from a worksheet

Get 20% Discount on This Paper
Pages (550 words)
Approximate price: -

Try it now!

Get 20% Discount on This Paper

We'll send you the first draft for approval by at
Total price:
$0.00

How it works?

Follow these simple steps to get your paper done

Place your order

Fill in the order form and provide all details of your assignment.

Proceed with the payment

Choose the payment system that suits you most.

Receive the final file

Once your paper is ready, we will email it to you.

Our Services

Paper Helper has assembled a team of highly skilled writers with diverse experience in the online writing circles. Our aim is to become a one stop shop for all your Academic/ online writing. Check out below our amazing service!

Essays

Essay Writing Services

At Paper Helper, we prioritize on all aspects that creates a good grade such as impeccable grammar, proper structure, zero-plagiarism, and conformance to guidelines. The principal purpose of essay writing is to present the author's evaluation concerning a singular subject about which they have made. Since Professionalism is the mother of every success, try our team of experienced writers in helping you complete your essays and other assignments.

Admissions

Admission Papers

You have been trying to join that prestigious institution you long yearned for, but the hurdle of an admission essay has become a stumbling block. We have your back, with our proven team that has gained invaluable experience over time, your chance of joining that institution is now! Just let us work on that essay.How do you write an admission essay? How do you begin the essay? For answers, try Quality Custom Writers Now!

Editing

Editing and Proofreading

Regardless of whether you're pleased with your composing abilities, it's never an impractical notion to have a second eye go through your work. The best editing services leaves no mistake untouched. We recognize the stuff needed to polish up a writing; as a component of our editing and proofreading, we'll change and refine your write up to guarantee it's amazing, and blunder free. Our group of expert editors will examine your work, giving an impeccable touch of English while ensuring your punctuation and sentence structures are top-notch.

Coursework

Technical papers

We pride ourselves in having a team of clinical writers. The stringent and rigorous vetting process ensures that only the best persons for job. We hire qualified PhD and MA writers only. We equally offer our team of writers bonuses and incentives to motivate their working spirit in terms of delivering original, unique, and informative content. They are our resources drawn from diverse fields. Therefore your technical paper is in the right hands. Every paper is assessed and only the writers with the technical know-how in that field get to work on it.

Coursework

College Essay Writing

If all along you have been looking for a trustworthy college essay service provider that provides superb academic papers at reasonable prices, then be glad that you search has ended with us. We are your best choice! Get high-quality college essay writing from our magnificent team of knowledgeable and dedicated writers right now!

Coursework

Quality Assignment/Homework Help

We give the students premium quality assignments, without alarming them with plagiarism and referencing issues. We ensure that the assignments stick to the rules given by the tutors. We are specific about the deadlines you give us. We assure you that you will get your papers well in advance, knowing that you will review and return it if there are any changes, which should be incorporated.