Required:• Journal Entries• Ledger Postings (T-Account)• Unadjusted Trial Balance• Adjustments• Adjusted Trial BalancePLEASE ANSWER ASAP! I REALLY NEED HELP!! 20 recorded services provided on account, P168,00024 recorded cash from clients for fees earned, P44,50026 received cash from clients on account, P265,00027 paid receptionist for 2 weeks' salary, P16,50029 paid telephone bill for June, P5,40030paid electric bill for June, P7,60030 recorded cash from clients for fees earned, P51,60030 recorded services provided on account, P25,90030 - Juan withdrew P180,000 Assignment: Completing the Accounting CycleJanuary 6, 2023For the past several years, Juan de la Cruz has operated a part-time consulting business from his home. Asof June 1 2019, Juan decided to move to rented quarters & operate a business, which was to be known asJC Consulting, on a full time basis. JC Consulting entered into the following transactions in June:Instructions:A. Journalize each transaction, referring to the following Chart of Accounts11 Cash31 Juan de la Cruz, Capital32 Juan de la Cruz, Drawing33 Income Summary41 Fees Earned51 Salary Expense52 Rent Expense53 Supplies Expense54 Depreciation Expense55 Insurance Expense59 Miscellaneous ExpenseJune12 Accounts Receivable14 Supplies15 Prepaid Rent16 Prepaid Insurance18 Office Equipment19 Accum. Depreciation21 Accounts Payable22 Salary Payable23 Unearned Fees1 - the following assets were received from Juan de la Cruz: Cash P200,000, accounts receivableP147,000, supplies P33,000 and office equipment P120,000. There were no liabilities received1 - paid three months' rent, P60,0002 - paid premium on property & casualty insurance policies, P42,0004 - received cash from clients as advance payment for services to be provided and recorded it asunearned fees, P94,0005 - purchased additional office equipment on account from Abenson, P80,0006 received cash from clients on account, P117,00010 - paid cash for newspaper ad, P3,50012 - paid Abenson for part of debt incurred June 5, P64,00012- recorded services provided on account, P219,00014 - paid receptionist for 2 weeks' salary, P16,50017 - recorded cash from clients for fees earned, P66,00018 - paid cash for supplies, P7,250

The financial statements are the records of the business which reflect the health and success of the…

Assignment: Completing the Accounting Cycle January 6, 2023 For the past several years, Juan de la Cruz has operated a part-time consulting business from his home. As of June 1 2019, Juan decided to move to rented quarters & operate a business, which was to be known as JC Consulting, on a full time basis. JC Consulting entered into the following transactions in June: Instructions: A. Journalize each transaction, referring to the following Chart of Accounts 11 Cash 31 Juan de la Cruz, Capital 12 Accounts Receivable 32 Juan de la Cruz, Drawing 14 Supplies 33 Income Summary 15 Prepaid Rent 41 Fees Earned 16 Prepaid Insurance 51 Salary Expense 18 Office Equipment 52 Rent Expense 19 Accum. Depreciation 21 Accounts Payable 22 Salary Payable 23 Unearned Fees June 53 Supplies Expense 54 Depreciation Expense 55 Insurance Expense 59 Miscellaneous Expense 1- the following assets were received from Juan de la Cruz: Cash P200,000, accounts receivable P147,000, supplies P33,000 and office equipment P120,000. There were no liabilities received 1 - paid three months' rent, P60,000 2-paid premium on property & casualty insurance policies, P42,000 4 - received cash from clients as advance payment for services to be provided and recorded it as unearned fees, P94,000 5- purchased additional office equipment on account from Abenson, P80,000 6 received cash from clients on account, P117,000 10-paid cash for newspaper ad, P3,500 12-paid Abenson for part of debt incurred June 5, P64,000 12- recorded services provided on account, P219,000 14 - paid receptionist for 2 weeks' salary, P16,500 17 recorded cash from clients for fees earned, P66,000 18 - paid cash for supplies, P7,250

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q