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Penn Foster 06168900

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Question;To begin, review the financial statements on pages 122 and 127 of your;textbook (Exhibits 3-4 through 3-7). Then, follow-ing the instructions;below, complete the electronic forms provided at the end of this file.;Submission instructions are given the end of this project.1. Journalize the transactions. Omit explanations.2.;Post the transactions to the general ledger, creating new ledger;accounts as necessary. Calculate the new general ledger account;balances.3. Prepare the unadjusted trial balance for Aqua Elite, Inc., at the end of July.4. Journalize and post the adjusting entries for July based on the following adjustment information:a. Record the expired rent.b. Supplies on hand, $350.c. Depreciation: $400 equipment, $210 furniture, $650 vehicles.d. Services performed but unbilled, $1,900.e. Accrued salaries, $675.f. Unearned service revenue earned as of July 31, $800.5. Prepare an adjusted trial balance for Aqua Elite, Inc., at the end of July.6.;Prepare the Income Statement, Statement of Retained Earnings, and;Balance Sheet for the three-month period May through July 20XX.7. Prepare, journalize, and post closing entries.8. Prepare a Post-Closing Trial Balance for the end of the period.

 

Paper#44986 | Written in 18-Jul-2015

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