Complete accounting cycle, Part 1Instructions Chart of AccountsInstructionsJul.For the past several years, Samantha Hogan has operated a part-time consulting business from her home. As of July 1, 20Y9, Samantha decided tomove to rented quarters and to operate the business, which was to be known as Arborvite Consulting, on a full-time basis. Arborvite Consulting enteredinto the following transactions during July:1123LO5Purchased additional office equipment on account from Office Necessities Co., $6,900.Received cash from clients on account, $17,300.Paid cash for a newspaper advertisement, $680.12 Paid Office Necessities Co. for part of the debt incurred on July 5, $4,100.6Journal Ledger Unadjusted Trial Balance1012 14The following assets were received from Samantha Hogan: cash, 25,700; accounts receivable,$30,200; supplies, $5,100; and office equipment, $12,100. There were no liabilities received.Paid three months' rent on a lease rental contract, $8,100.Paid the premiums on property and casualty insurance policies, $6,100.Received cash from clients as an advance payment for services to be provided and recorded it asunearned fees, $10,800.ProvidedPaid receptionist for two weeks' salary, $2,000.services on account for the period July 1-12, $19,200.X Complete accounting cycle, Part 1Instructions Chart of Accounts Journal Ledger Unadjusted Trial BalanceInstructionsRecord the following transactions on Page 2 of the journal:Jul.1718202426272931313131Received cash from cash clients for fees earned during the period July 1-17, $14,100.Paid cash for supplies, $1,400.Provided services on account for the period July 13-20, $12,200.Received cash from cash clients for fees earned for the period July 17-24, $11,500.Received cash from clients on account, $16,300.Paid receptionist for two weeks' salary, $2,000.Paid telephone bill for July, $440.Paid electricity bill for July, $910.Received cash from cash clients for fees earned for the period July 25-31, $9,600.Provided services on account for the remainder of July, $7,400.Samantha withdrew $27,100 for personal use.

Answered: Instructions Chart of Accounts Journal…

Business

Accounting

Instructions Chart of Accounts Journal Ledger Unadjusted Trial Balance

Century 21 Accounting General Journal

11th Edition

ISBN:9781337680059

Author:Gilbertson

Publisher:Gilbertson

Chapter21: Accounting For Accruals, Deferrals, And Reversing Entries

Section21.1: Accruals

Problem 1WT

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