I need the answer of 8 and 9 no. Don't provide wrong solution. Don't copy others work. Neko Case decides to open a cleaning and laundryservice near the local college campus that will operate asa sole proprietorship. Neko Case incurred the followingtransactions during the month of June 2022.June 1 Neko Case invested $20,000 in cash to start acleaning and laundry business on June 1.June 2 Purchased equipment for $5,000 paying $3,000 incash and the remainder due in 30 days.June 5 Purchased supplies for $1,200 cash.June 10 Received a bill from College News for $300 foradvertising in the campus newspaper. June 12 Cashreceipts from customers for cleaning and laundryamounted to $2,400.June 20 Billed the Lion Soccer Team $450 for cleaning andlaundry services.June 25 Paid $300 to College News for advertising thatwas previously billed in Transaction 4. June 28 NekoCase withdrew $1,500 from the business for livingexpenses.June 30 Incurred utility expenses formonth on account, $500. June 30Paid salaries of $600 to studentworkers.Requirements:1) Make a tabular analysis of the transactions onaccounting equation. Use the following columnheadings: Cash, Supplies, Accounts receivable,Equipment, Accounts Payable, Owner's capital,Withdrawal, Revenues, Expenses2) Journalize the above transactions.3) Prepare necessary T accounts4) Prepare a trial balance on June 30, 2022.Other data:a) The office equipment has an estimated useful life of 50months with zero salvage valueb) The physical count revealed $200 supplies on hand atthe end of the month.Requirements:5) Prepare necessary adjusting entries on June 30, 20226) Enter the trial balance on a worksheet and completethe worksheet.7) Prepare an income statement for the month endedJune 30, 2022, an owner's equity statement onJune 30, 2022 and a balance sheet on June 30,2022.8) Prepare necessary closing entries on June 30, 20229) Prepare a post-closing trial balance on June 30, 2022

Journal Entries: It is process of recording the business transaction in the primary book of accounts…

leko Case decides to open a cleaning and ervice near the local college campus that will ope sole proprietorship. Neko Case incurred the fe ansactions during the month of June 2022. une 1 Neko Case invested $20,000 in cash to star eaning and laundry business on June 1. une 2 Purchased equipment for $5,000 paying $3, cash and the remainder due in 30 days. une 5 Purchased supplies for $1,200 cash.

leko Case decides to open a cleaning and ervice near the local college campus that will ope sole proprietorship. Neko Case incurred the fe ansactions during the month of June 2022. une 1 Neko Case invested $20,000 in cash to star eaning and laundry business on June 1. une 2 Purchased equipment for $5,000 paying $3, cash and the remainder due in 30 days. une 5 Purchased supplies for $1,200 cash.

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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