September 2023 Cindi Lewis decided to expand her business and began selling accounting software as well
2024 Cindi Lewis Assignment Help
Cindi Lewis decided to expand her business and began selling accounting software as well 2023
Cindi Lewis decided to expand her business and began selling accounting software, as well as providing accounting services. During January, 2015, Lewis Accounting Services completed these transactions: Jan 2 Completed a consulting engagement and received cash of $10,000 2 prepaid three months office rent 7 purchased software inventory on account, $4,400, plus freight in, $100 15 withdrew $800 for personal use. 18 sold software on account, $1,100 19 Consulted with a client for a fee of $900 20. Paid $1200 cash in salaries for the month 21. Paid 1500 for the office furniture bill incurred in December 24. Paid utilities, $400 28 Sold software for cash, $700 (cost $400) 31. Recorded these adjusting entries: a. Depreciation of computer equipment and office furniture b. Expiration of prepaid rent c. Expiration of prepaid insurance ( in Dec 2 of 2014 Lewis paid $8,500 cash for a 2 years renters insurance) d. Physical count of inventory, $2800 e. Earned remaining revenue from December 22, 2014 Required: Prepare journal entries for the above transactions and post these entries to the ledger. Prepare adjusting entries on January 31, 2015 and post to the ledger Prepare an adjusted trial balance, an income statement, a statement of owners equity, and a balance sheet as of January 31, 2015 Prepare closing entries at January 31, 2015 and post to the ledger Prepare a post-closing trial balance on January 31, 2015
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