[ashley_sanchez2]

May

1 Mike invested $15,000 cash and a used truck worth $13,500 in the business in exchange

for company stock.

3 Paid $4,700 cash to purchase office equipment.

7 Purchased $860 of supplies on account.

12 Performed services for cash customers and received $850.

15 Paid salaries of $675 to the office receptionist.

16 Sold the company truck for $13,500.

18 Signed a note payable for $31,000 to purchase a new truck.

21 Performed $3,200 of services on account for a local hotel chain.

27 Paid $500 of the amount owed from the purchase of supplies on May 7.

30 Received $2,000 on account from credit customers.

31 Received the utility bill for the month of May, $480. The bill is not due until the 15th

of June.

31 Paid $1,000 dividends to the shareholder, Mike Hanson.

June

1 Paid receptionist's salary, $675.

2 Paid cash to acquire land for a future office site, $15,000.

3 Moved into a new location for the business and paid the first month's rent, $1,800.

4 Performed service for a customer and received cash, $1,700.

5 Received $500 on account.

8 Purchased $750 of supplies on account.

11 Billed customers for services performed, $3,800.

13 Sold an additional $10,000 of stock to Mike Hanson.

16 Paid receptionist's salary, $675.

17 Received $1,350 cash for services performed.

18 Received $1,500 from customers on account.

19 Paid $325 to be listed in the yellow pages telephone directory.

21 Paid $1,000 on account.

22 Purchased office furniture on account, $3,300.

24 Paid miscellaneous expenses, $275.

26 Billed customers for services provided, $1,000.

28 Received $300 from customers on account.

30 Paid utility bill, $745.

30 Paid receptionist's salary, $675.

30 Paid $1,800 of dividends.

July

1 Paid three months' rent, $4,500.

4 Performed service for a customer and received cash, $2,100.

9 Received $3,600 from customers for services to be performed later.

12 Purchased $750 of supplies on account.

15 Billed customers for services performed, $2,800.

16 Paid receptionist's salary, $675.

22 Received $3,100 on account.

25 Paid $2,800 on account.

28 Received $1,200 cash for services performed.

30 Paid $600 of dividends.

I’ve already done 3.
3. Prepare the unadjusted trial balance for Aqua Elite, Inc. at the end of July.
Cash 17,380
Accounts Receivable 3,500
Supplies 2,360
Prepaid Rent 5,400
Land 15,000
Office Furniture 3,300
Equipment 4,700
Vehicles 31,000
Accounts Payable 1,840
Unearned Service Revenue 3,600
Notes payable 31,000
Common Stock 38,500
Dividends 3,400
Service Revenue 18,100
Salary Expense 3,375
Rent Expense 1,800
Utilities Expense 1,225
Advertising Expense 325
Miscellaneous Expense 275


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.

So far this is what I came up with
A. Rent expense $3,600 is debit, and Prepaid rent $3,600 is credit
5,400/3=1,800 a month, 2*1,800=3,600 rent used
B.Supplies expense $2,010 is debit, annd Supplies $2,010 is credit
2,360-350=2,010
C. I understand completely
D. Account receivable $1,900 is debit, and Service evenue $1,900 is credit
E.Salary expense $675 is debit, and Salary payable $675 is credit
F. Unearned service revenue $800 is debit, and Servicerevenue $800 is credit
If any of my work seems wrong please let me know, Thank you.