Reference no: EM132437278

INSTRUCTIONS

1 Journal the following entries
2 Post the entries to the General ledger
3 Prepare a Trial Balance
4 Prepare the Financial Statements

1 Janet Younger started a business using $100,000 of her own money. Younger opened a checking accounting and deposited all the funds there.
2 Wells purchased $5,000 of equipment and paid cash
3 Wells purchased $6,000 more equipment on account. Office plus extended her credit for the new computer.
4 Wells hired two new employees at a salary of $48,000 each.
5 Wells purchased supplies for $500 in cash.
6 Wells paid $2,500 in cash to Office Plus for the computer.
7 Wells rented office space paying $8000 in rent for January and February.
8 Received $36,000 in cash for services provided to clients.
9 Performed more services for $11,000 and agreed the customer, Moe, could pay in two weeks.
10 Moe sent in a check for $6,000 on the balance he owned.
11 The firm paid salaries of $8000 for the month.
12 The firm paid utilities of $650
13 Janet Younger took a draw of $5000 for personal use.

Question 1 Journal the Entries use the lines below to complete the journal entries

Question 2 Post the entries to the General ledger

Question 3 Prepare the Trail Balance from the General Ledger ending balances

Question 4 Prepare the financial statements from the trial balance

Attachment:- Accounting Cycle.rar