July 1 July 3 July 5 July 7 July 10 July 14 July 15 July 19 July 21 July 31 July 31 a Issued 15,000 shares of the company's common stock in exchange for $15,000 Purchased a truck for $8,000 A down payment of $3,000 was made, with the balance on account Paid $1,200 to cover rent from July 1 through September 30 Purchased $2,000 of supplies on account Bed customers for consulting services performed, $3,700 Paid $500 toward the amount owed for the supplies purchased on July 7 Paid $1750 in cash for employee wages Collected $1600 in cash from customers that were billed on July 10 Received $4,200 cash from customers for services performed Paid $350 in cash for truck repairs Declared and Paid $700 in cash dividends lacostensile FRA
July 1 July 3 July 5 July 7 July 10 July 14 July 15 July 19 July 21 July 31 July 31 a Issued 15,000 shares of the company's common stock in exchange for $15,000 Purchased a truck for $8,000 A down payment of $3,000 was made, with the balance on account Paid $1,200 to cover rent from July 1 through September 30 Purchased $2,000 of supplies on account Bed customers for consulting services performed, $3,700 Paid $500 toward the amount owed for the supplies purchased on July 7 Paid $1750 in cash for employee wages Collected $1600 in cash from customers that were billed on July 10 Received $4,200 cash from customers for services performed Paid $350 in cash for truck repairs Declared and Paid $700 in cash dividends lacostensile FRA
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Dd.83.

Transcribed Image Text:5 July 1
July 3
July 5
0
2
July 7
July 10
5 July 14
July 15
July 19
July 21
July 31
July 31
Issued 15,000 shares of the company's common stock in exchange for $15,000
Purchased a truck for $8,000 A down payment of $3,000 was made, with the balance on account
Paid $1,200 to cover rent from July 1 through September 30
Purchased $2,000 of supplies on account
Billed customers for consulting services performed $3,700
Paid $500 toward the amount owed for the supplies purchased on July 7
Paid $1750 in cash for employee wages
Collected $1600 in cash from customers that were billed on July 10
Received $4,200 cash from customers for services performed
Pad $350 in cash for truck repairs
Declared and Paid
Be Jente
Instructions
$700 in cash dividends
tha liki donnanadians in this Cosest tommal kakan
Journal Entries General Ledger Trial Balance.
Adjusting Entries
Het felt fantantiles
Adjusted Trial Balance Financial Statements
0
Closing Entries Post-Closing ***
P

Transcribed Image Text:1 Requirement #8:
6
7
8 Date
9
10
11
3 Prepare the closing entries at July 31 in the General Journal below.
4
5
12
13
14
15
16
7
8
9
10
8
D
General Journal
Description (Account Name)
Service Revenue
Income Summary
3
E
Instructions Journal Entries
Debit
7,900
F
Credit
General Ledger
7,900
G
Trial Balance
H
Adjusting Entries
Adjusted Trial Balance
K
M
Financial Statements
N
Closing Entries
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