Paid salaries to employees totaling 3850 for 1 week

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Purchased $10,660 of additional office supplies on account. Paid salaries to employees totaling $3,850 for 1 week. Dividends of $1,000 were declared and paid. Additional work for customers of $5,980 has been performed during the last week of July but not yet billed One month of interest has accrued on the note payable for the bank loan. Supplies on hand are $4,785. One month of the prepaid rent has been used up One month of the services for SBoard Inc. has been performed (see above). Salaries of $3,850 are paid every Friday (for a 5 day work week). July 30, 2018 was a Tuesday. Depreciation expense for the computer equipment is $140 and for the office furniture is $120 SUGGESTED STEPS FOR COMPLETION OF THE PROJECT: Prepare adjusting entries for the month of July given the information provided. Post the adjusting entries to the Adjusting entries columns on the worksheet Prepare closing entries for the end of the period At the end of July, the following additional information is available to help determine what adjustments are needed: Prepare journal entries to record the July transactions given. Please refer to the Worksheet tab for Account Titles you may need. Add the July journal entry information to the Worksheet in the July columns. You can do this in one of 2 ways - (1) Post the journal entries to ledger accounts using T-accounts to represent ledger accounts and then use those totals to post to the worksheet or (2) use excel to add all entries for a particular account into the correct column in the worksheet (ie., add all cash debits from the journal entries into the cash debit column for July entries). There is a tab to use for T Accounts if you want but the T Accounts are NOT required Prepare an unadjusted trial balance as of July 31, 2018. This will be part of the Worksheet you prepare. There is a tab in this file that you will use for this. Excel formulas must be used throughout the project to obtain full credit. Prepare an adjusted trial balance as of July 31, 2018. This will be part of the Worksheet you prepare. There is a tab in this file that you will use for this. Prepare financial statements for the month ending July 31, 2018. (Income Statement, Statement of Retained Earnings, Classified Balance Sheet ). Formatting is important and will be graded so be sure you use dollar signs and underlines as appropriate. Also be sure you have headings and proper column usage for all statements. There is a tab for these statements. Heading are PARTIALLY completed for the 3 statements.
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  • Spring '14
  • Deborah
  • Generally Accepted Accounting Principles, office furniture, KTZFIG Consulting Inc

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