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Bookkeeping Assesment

The document provides the trial balance for Irene's Coin Laundry as of June 30, 2007. It lists debit and credit balances for various asset, liability, and equity accounts. It also lists transactions that occurred in July, including receiving cash from customers, billing customers, paying expenses, and purchasing supplies. The required tasks are to prepare journal entries for July, post to ledger accounts, and prepare financial statements including the trial balance, income statement, balance sheet, statement of changes in equity, and statement of cash flows.

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1K views2 pages

Bookkeeping Assesment

The document provides the trial balance for Irene's Coin Laundry as of June 30, 2007. It lists debit and credit balances for various asset, liability, and equity accounts. It also lists transactions that occurred in July, including receiving cash from customers, billing customers, paying expenses, and purchasing supplies. The required tasks are to prepare journal entries for July, post to ledger accounts, and prepare financial statements including the trial balance, income statement, balance sheet, statement of changes in equity, and statement of cash flows.

Uploaded by

Smile Smile
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOC, PDF, TXT or read online on Scribd
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IRENES COIN LAUNDRY TRIAL BALANCE June 30, 2007 Acct.

Number Cash Account Receivables Supplies Equipment Account Payable Unearned Revenue Irene Bova, capital Debit Php 8,750.00 Php 2,300.00 Php 1,900.00 Php 9,000.00 Credit

Php 21,970.00 July transactions were as follows: Received Php 850 cash from customers on account Billed customers for services performed, Php 6,300.00 Paid employee salaries, Php 1.400.00 Performed Php 600.00 of services for customers who paid in advance Paid Php 2,000.00 to creditors on account Received Php 250.00 for services rendered on cash basis Purchased supplies on account, at a cost of Php 350.00 Withdrew Php 600.00 for personal use Paid utilities, Php 900.00

Php 5,900.00 Php 800.00 Php 15,270.00 Php 21,970.00

Required: a. Chart of Accounts b. July Journal entries c. General ledger postings for the month d. Trial balance

Not e

The Account Numbers were given & theres also an account entitled Income Summary, Account No. 800.

e. Income Statement f. Balance Sheet

g. Statement of Changes in Equity h. Statement of Cash Flow i. j. Closing Journal Entries Post-closing Trial Balance

Not e

The Account Numbers were given & theres also an account entitled Income Summary, Account No. 800.

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