Jane Smith founded Premier Pet Spa. Operations started on July 1, 2021.The bookkeeper retired. Jane hires you to record the activity for September and tocomplete the accounting cycle for the quarter ended September 30, 2021.The trial balance as of 8/31/2021 and the detail for the Accounts Receivable accountbalance is on page 2.The September 2021 events are on page 3.Additional Information:• Included in “Other Receivables” is a $750 deposit Jane gave NorthShore GroomingTools (NGT) for a custom grooming machine.• Phoebe Doe is the only employee. She started on August 1st . Phoebe is paid on the5th of each month for the pay period ending on the last day of the prior month andon the 20th of the month for the pay period covering the first fifteen days of thecurrent month.Required1. Enter the balances as of 8/31/2021 in the general ledger.2. Prepare journal entries to record each of the September transactions for PremierPet Spa. Use the accounting concepts and principles you learned this semester.If an event is not a transaction, write the date and “no entry needed” on thejournal page.The explanation on the journal and in the general ledger must include at aminimum the available document reference and a name (for example Check 100;Phoebe Doe).3. Post those entries to the accounts in the ledger.The explanation in the general ledger must include at a minimum the availabledocument reference and a name (for example Check 100; Phoebe Doe).4. Prepare the unadjusted trial balance at 9/30/21.1

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

Jane Smith founded Premier Pet Spa. Operations started on July 1, 2021.
The bookkeeper retired. Jane hires you to record the activity for September and to
complete the accounting cycle for the quarter ended September 30, 2021.
The trial balance as of 8/31/2021 and the detail for the Accounts Receivable account
balance is on page 2.
The September 2021 events are on page 3.
Additional Information:
• Included in “Other Receivables” is a $750 deposit Jane gave NorthShore Grooming
Tools (NGT) for a custom grooming machine.
• Phoebe Doe is the only employee. She started on August 1st . Phoebe is paid on the
5th of each month for the pay period ending on the last day of the prior month and
on the 20th of the month for the pay period covering the first fifteen days of the
current month.
Required
1. Enter the balances as of 8/31/2021 in the general ledger.
2. Prepare journal entries to record each of the September transactions for Premier
Pet Spa. Use the accounting concepts and principles you learned this semester.
If an event is not a transaction, write the date and “no entry needed” on the
journal page.
The explanation on the journal and in the general ledger must include at a
minimum the available document reference and a name (for example Check 100;
Phoebe Doe).
3. Post those entries to the accounts in the ledger.
The explanation in the general ledger must include at a minimum the available
document reference and a name (for example Check 100; Phoebe Doe).
4. Prepare the unadjusted trial balance at 9/30/21.1

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