So I need to journalize and post entries and then prepare unadjusted trial Balance and prepare and post adjusting entries. Prepare adjust trial balance, prepare financial statements, journalize and post closing entries then prepare post closing trial balance and prepare reversing entries. Now I have up to date been struggling with understanding how this all is working together and what each one would look like.
The scenero is Lee chan opened Lees window washing on July 1 2012, in July the following transaction were completed
July 1 invested 14000 cash in the business
1 purchased a used truck for 26400 paying 6400 cash and signing a note payable for the balance
1 Collected 3000 for XYZ for their cleaning needs for July aug and sept
3 purchased cleaning supplies on account for 850
5 paid 1800 on a one year insurance policy effective 1 jul
12 billed customers 3800 for cleaning services
18 paid 400 of amount owed on cleaning supplies
20 paid 1600 for employees salaries
21 collected 1400 fro customers billed on jul 12
25 billed customers for 3000 for cleaning service
31 paid gas and oil for the month on the truck 350
31 withdrew 1600 to pay personal property taxes

additional information
annual payments of 5000 are required on the note

required
1. journalize and post the jul transactions lees window washing records all prepaid expenses and unearned revenues as assets and liabilities
2 prepare an unadjusted trial balance at jul 31 2012
3. Journalize and post the following adjustments
a. earned and unbilled fees at jul 31, 2012 were 1500
b. the truck has an estimated useful life of four years and no residual value
c. the insurance policy is effective July 1 2012 and expires on jul 30 2013
d. an inventory count shows 375 of cleaning supplies on hand at jul 31 2012
e. at jul 31 2012 1000.00 of the fees collected in advance have been earned
f. accrued but unpaid employees salaries were 400
g. the note payable has a 6 % annual interest rate

4. prepare a adjusted trial balance at jul 31 2012
5 prepare in good form an income statement, statement of changes in equity and a classfied balance sheet for the month ended July 31 2012
6 journalize and post the closing entries
7 prepare a post closing trial balance at July 31 2012
8. lees window cleaning has chosen to prepare reversing entries. Prepare necessary reversing entries in August 2012. They do not need to be posted

the balance in the cash ledger account is 6250 on the debit side
the closing balance in lee chan capital at July 31 212 is $18075. On the credit side.

Ýou journalise transactions in the following manner
Debit account amount, credit account amount
To post a transaction you contruct a ledger account, enter the transaction and derive a balance

I'm doing this exact question right now. What's the answer??

You start with the first transaction, which is on Jul 1 when the owner invested money into the business. You need to journalize the transaction so you need to analyze it to figure out what is going on, what accounts are affected, how they are affected, and by how munch.

So an owner is investing money into the business. This means that the business is receiving money and you are increasing the amount of capital the business has. So your accounts are Cash and Lee, Capital. The amount is given to you, so your journal entry will be:
Debit Cash for the amount received
Credit Lee, Capital for the amount received

After you journalize your transactions you need to post them to your T accounts, then you need to get your individual account balances.

Next you need to do a Trial Balance, then do your adjusting entries, post them to your individual accounts and get your account balances.

Next you need to do an Adjusted Trial Balance, then you will do your financial reports.

After your financial reports are done you need to do your closing entries, which is closing out your temporary accounts to your permanent accounts. Next you will post your closing entries to accounts and get your account balances, and finally you will prepare a post closing Trial Balance.

You should use a Worksheet for your Trial balance, adjusting entries, adjusted trial balance, income statement, balance sheet, closing entries, and post-closing trial balance sheet.

The amount listed in the Capital account on 31 Jul is just a Check Figure. If you posted your transactions correctly and did your math properly you should end up with the figure listed in the Capital account.

The entry on 31 Jul for paying personnal taxes will be a Debit to the Drawing account and a Credit to Cash.