Q#1 A business was started on March 1, 2020 with the investment of cash Rs. 50,000 and office equipment worth Rs. 50,000 and the following transactions were completed during the month: March 2 : Purchased merchandise for cash Rs. 25,000 and on account Rs. 15,000. March 3 : Purchased office supplies for cash Rs. 2,000 and on account Rs. 7,000 March 12: Purchased furniture on account Rs. 5,000. March 18: Sold merchandise for cash Rs. 20,000 and on account Rs. 15,000 March 20: Paid to suppliers Rs. 10,000 after discount Rs. 1,000 March 30: Paid rent for the month Rs. 1,500. REQUIRED: a) Record the above transactions in the General Journal. b) Post the transactions to "T" accounts. c) Balance the accounts and prepare a trial balance
Q: QUESTION 1 PART A Hajaratul Trading sells apparel for Hajj and umrah. The following transactions…
A: As per rules of debit and credit, for recording of jourrnal entries atleast one account is debited…
Q: Activity 1.1 Friendly Trucking On April 1, 2019, Nels Ferrer organized a business called Friendly…
A: SOLUTION- JOURNAL IS A COMPANY'S OFFICIAL BOOK IN WHICH TRANSACTIONS ARE RECORDED IN CHRONOLOGICAL…
Q: Problem 1. Mr. Amer started his Car Repair Business in Muscat in June 2020. During the month of…
A: The financial statements of the business including income statement and balance sheet are prepared…
Q: Lesson 6: On July 1, 2021, Emilia Clarke opened a small paint shop called "Emilia Clarke Paint…
A: The question is based on the concept of Financial Accounting.
Q: Q.1: Journalize the following Transaction into journal post them into ledger and Prepare Trail…
A: Financial Statement:- These are statements prepared at the end of the financial year to know the…
Q: Problem 2-4 Assume that you are the owner of Aurora Café, a specialty coffee shop in Baler. At the…
A: Profit is the amount of income earned by business after deducting expenses to run the operations of…
Q: Q2. Journalize the following transaction in the book of Ghazi's and Sons co. Started business with…
A: Journal entries are passed following the golden rules of accounting Debit all assets and expenses…
Q: QUESTION ONE Juan Cruz began professional practice as a system analyst on July 1. He plans to…
A: Adjusted Trial Balance- The second type of trial balance in the accounting cycle is adjusted trial…
Q: Question 4. Muhammad, Hafiz and Fatima started their own business, Lighthouse for Safety and…
A: Accounting is the complete process of recording and classifying transactions. Transactions are…
Q: Question 13 On December 2020, Miranda Right started Right consulting, a new business, and completed…
A: >Based on revenue recognition principle read along with the accrual basis of accounting, the…
Q: Q2. Peter Nimmer opened a veterinary business in Nashville, Tennessee, on August 1, 2017. On August…
A: Accounting equation is the equation in accounting which means total assets must be equal to total…
Q: MGT 203 Assignment 2 WiFiCom Services completed these transactions during November 2017, its first…
A: Journal Entries - Journal Entries are the recording of transactions of the organization. It is…
Q: Q4: Prepare Income Statement and Balance Sheet from the following Trial Balance of Abc…
A: The income statement is one of the financial statements which shows all incomes and all expenses of…
Q: Tutorial 3 (Part 3) Submission date: 14 December 2020 before 12.00pm 1. Record the following…
A: Journal entry: It is also called as book of original entry. It is used to record a financial…
Q: QUESTION#2& 3 On June 1" 2020 Mr. Tocks started new repair service business. Listed below are the…
A: A journal entry is the recording of financial transactions in books of the business entity. It…
Q: Activity 1-4 Journalizing Transactions The transactions for March 2021 of Lightning Package Delivery…
A: Journal entries (JE) refer to reposting of the transactions into the entity or company books of…
Q: The Following Trail Balance has been extracted from the books of ABC Company on December 31st, 2018:…
A:
Q: 5. On September 1ª 2020 Mr. SAM started new repair service business. Listed below are the…
A: Trial balance is the statement prepared to get the balance of all the accounts at one single place.…
Q: Activity 1: Journalize the following transactions and then post them to the General Ledger. Below…
A: We’ll answer the first question since the exact one wasn’t specified. Please submit a new question…
Q: Question 1 Brian started in business on 1 December 2021. The following is a list of his transactions…
A: Journal Entries - Journal Entries are the recording of transactions of the organization. It is…
Q: g. 1) ABBA made an addit
A: Journal entries are passed for only financial transactions, ie transactions in which inflow or…
Q: Question: Q1 Let Us Assume That Mr. Amir Starts A Business Called Amir Enterprises On 1st…
A: Accounting equation is very important and it says that total assets in the business should be equal…
Q: Q No.1 Use following title of accounts to complete journal entries of given transactions. 1)…
A: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question and…
Q: Question 01:…
A: Journal entries keep a record of day-to-day business transactions.
Q: Question Mr. Arish opened Arish’s Carpet Cleaners on March 1, 2021. During March, the following…
A: The closing entries are prepared to close the temporary accounts which are not transferred to…
Q: PROBLEMS 1.5L. Mr. Saeed started his business with cash Rs. 65,000, Furniture Rs. 20,000 and…
A: Introduction: Journal: Recording of a business transactions in a chronological order. First step in…
Q: Question No.1 The following transactions were completed by Ronaldo during the month of June 2016. 01…
A: Introduction: Journal: Recording of a business transactions in a chronological order. First step in…
Q: Q#3 Following in the adjusted trial balance of M/s Rizwan for the year 2020 ACCOUNT TITLES DEBIT…
A: Income statement: It refers to a financial statement that presents all the income earned by the…
Q: Problem 5. Mr. Coach started a T-shirts business to be known as "Coach T-shirts". He performed…
A: Journal entries are the primary step to record the transaction in the books of account. The debit…
Q: Journalizing transactions [10-20 min] Principe Technology Solutions completed the following…
A: The journal entry is the primary entry that records the financial transactions initially.
Q: Exercise 1 Direction: Record the following transactions. Use as many records or sheets as you can.…
A: Net income is the amount that remains with the company out of revenue earned after the payment of…
Q: Q No 3: M/s. Khalid Traders started business on March 1, 2006 with a cash investment of Rs.700,000.…
A: Journal means the book of prime entry where all entries are recorded in different pages. Ledger…
Q: Q.3.Consider the below mentioned transactions for showing the accounting equation:…
A: Accounting equation of the business says that total assets in the business must be equal to total…
Q: Q1: Ahmad started his own Computer service on January 1, 2020. The following transactions occurred…
A: Accounting equation: Accounting equation is an accounting tool expressed in the form of equation, by…
Q: Question 01: July 01 Started business with an investment of cash Rs. 40,000, building valued at…
A: Since you have asked multiple questions, we will solve the first question for you. If you want any…
Q: Question 3. Cargo Wings provides the following data for the month. i. Invested in the business;…
A: Journal entries are the entries to be recorded in the accounting books of the business for all the…
Q: QUESTION 2 NUR Nursery started operations on October 1, 2021. The followings are the transactions…
A: Journal entries represent the process of identifying and recording business-related monetary…
Q: Q#1 On February 1, 1991 Aslam started a business with a cash investment of Rs. 100,000.He…
A: Journal and ledger Accounts are to be prepared using given transactions. Further Ledger balances…
Q: Problem 3 APEX Company established its merchandising business in January 2, 2020. The following…
A: Journal entries and ledger are to be made as per the information given in the problem.
Q: Q # 1 The Following Trail Balance has been extracted from the books of ABC Company on December…
A: Cost of goods manufactured statement: The statement which includes the cost of direct materials…
Q: 5. On September 1ª 2020 Mr. SAM started new repair service business. Listed below are the…
A: Three golden rules of accounting that are used in preparing journal entries are: Debit the receiver…
Q: Question # 20 G Revisit A company purchased 50,000 worth of office supplies on January 1st and had…
A: Office supplies expense = Office supplies purchase - Office supplies in hand at the end of the year…
Q: estion # 02 On July 1, Mr. Ahsan established Ahsan's Travel Agency. The following transactions were…
A: The accounting equation states that assets equals to sum of liabilities and shareholders equity.
Q: Q#1 On February 1, 1991 Aslam started a business with a cash investment of Rs. 100,000.He…
A: As posted multiple independent questions we are answering only first question kindly repost the…
Q: 2.0 BUSINESS TRANSACTION The following is the business transaction for August 2020: August 1…
A:
Q: Question 2 The Umbrella Shop has the following trial balance as at 30 September 20X8. Shs Sales…
A: Statement of profit & loss account shows all revenues and expenses of the business during the…
Q: The trial balance for Amy Enterprise for the year ended 31 December 2019 is as follows:…
A: Adjusting entries are prepared at the end of the accounting period to ensure the accrual base…
Q: Activity #4 Direction: Answer the problem below using a 10-column worksheet. Problem Application…
A: An income statement is a financial report that indicates the revenue and expenses of a business. It…
Q: Fundamentals in Accounting, Business and Management1 Journal and T-Account Practice INSTRUCTION:…
A: Journal Entry The purpose of preparing the journal entry to enter the required transaction into…
Q#1 A business was started on March 1, 2020 with the investment of cash Rs. 50,000
and office equipment worth Rs. 50,000 and the following transactions were completed
during the month:
March 2 : Purchased merchandise for cash Rs. 25,000 and on account Rs. 15,000.
March 3 : Purchased office supplies for cash Rs. 2,000 and on account Rs. 7,000
March 12: Purchased furniture on account Rs. 5,000.
March 18: Sold merchandise for cash Rs. 20,000 and on account Rs. 15,000
March 20: Paid to suppliers Rs. 10,000 after discount Rs. 1,000
March 30: Paid rent for the month Rs. 1,500.
REQUIRED:
a) Record the above transactions in the General Journal.
b)
c) Balance the accounts and prepare a
Step by step
Solved in 2 steps
- Brief Exercise 2-30 Transaction Analysis Galle Inc. entered into the following transactions during January. Borrowed $50,000 from First Street Bank by signing a new payable. Purchased $25,000 of equipment for cash. (Continued) Paid $500 to landlord for rent for January. Performed services for customers on account, $10,000. Collected $31000 from customers for services performed in Transaction d. Paid salaries of $2,500 for the current month. Required: Show the effect of each transaction using the following model.Problem 2-62B Comprehensive Problem Mulberry Services sells electronic data processing services to firms too Email to own their own computing equipment. Mulberry had the following amounts and amount balances as of January 1, 2019: During 2019, the following transactions occurred (the events described below are aggregations of many individual events): During 2019, Mulberry sold $690,000 of computing services, all on credit. Mulberry collected $570,000 from the credit sales in Transaction a and an additional $129,000 from the accounts receivable outstanding at the beginning of the year. Mulberry paid the interest payable of $8,000. A Wages of $379,000 were paid in cash. Repairs and maintenance of $9,000 were incurred and paid. The prepaid rent at the beginning of the year was used in 2019. In addition, $28,000 of computer rental costs were incurred and paid. There is no prepaid rent or rent payable at year-end. Mulberry purchased computer paper for $13,000 cash in late December. None of the paper was used by year-end. Advertising expense of $26,000 was incurred and paid. Income tax of $10,300 was incurred and paid in 2019. Interest of $5,000 was paid on the long-term loan. (Continued) Required: Establish a T-account for the accounts listed above and enter the beginning balances. Use a chart of accounts to order the T-accounts. Analyze each transaction; Journalize as appropriate. (Note: Ignore the date because these events are aggregations of individual events.) Post your journal entries to the T-accounts. Add additional T-accounts when needed. Use the ending balances in the T-accounts to prepare a trial balance.Exercise 1-38 Identifying Current Assets and Liabilities Dunn Sporting Goods sells athletic clothing and footwear 10 retail customers. Dunns accountant indicates that the firms operating cycle averages 6 months. At December 31, 2019, Dunn has the following assets and liabilities: Prepaid rent in the amount of 58,500. Dunns rent is $500 per month. A $9,700 account payable due in 45 days. Inventory in the amount of $46,230. Dunn expects to sell $38,000 of the inventory within 3 months. The remainder will be placed in storage until September 2020. The items placed in storage should be sold by November 2020. An investment in marketable securities in the amount of $1,900. Dunn expects to sell $700 of the marketable securities in 6 months. The remainder are not expected to be sold until 2022. Cash in the amount of $1,050. An equipment loan in the amount of $60,000 due in March 2024. Interest of $4,500 is due in March 2020 ($3,750 of the interest relates to 2019. with the remainder relating to the first 3 months of 2020). An account receivable from a local university in the amount of $2,850. The university has promised to pay the full amount in 3 months. Store equipment at a cost of $9,200. Accumulated depreciation has been recorded on the store equipment in the amount of 51,250. Required: Prepare the current asset and current liability portions of Dunns December 31, 20191 balance-sheet. Compute Dunns working capital and current ratio at December 31, 2019. CONCEPTUAL CONNECTION As in investor or creditor. what do these ratios tell you about Dunns liquidity?
- Problem 2-593 Journalizing Transactions Monilast Chemicals engaged in the following transactions during December 2019: Dec 2 Paid rent on office furniture, $1,200. 3 Borrowed $25,030 on a 9-month, 3% note. 7 Provided services on credit. $42,600. 10 Purchased supplies on credit, $2,850. 13 Collected accounts receivable, $20,150. 19 Issued common stock, $50000. 22 Paid employee wages for December. $13,825. 23 Paid accounts payable, $1,280. 25 Provided services for cash, $13,500. 30 Paid utility bills for December, $1,975. Required: Prepare a journal entry for each transaction.Brief Exercise 2-32 Journalize Transactions Galle Inc. entered into the following transactions during January. January, 1: Borrowed $50,000 from First Street Bank by signing a note payable. January, 4: Purchased $25,000 of equipment for cash. January, 6: Paid $500 to landlord for rent for January. January, 15: Performed services for customers on account. $10,000. January, 25: Collected $3,000 from customers for services performed in Transaction d. January, 30: Paid salaries of $2,500 for the current month. Required: Prepare journal entries for the transactions.Problem 2-62B Comprehensive Problem Mulberry Services sells electronic data processing services to firms too Email to own their own computing equipment. Mulberry had the following amounts and amount balances as of January 1, 2019: During 2019, the following transactions occurred (the events described below are aggregations of many individual events): During 2019, Mulberry sold $690,000 of computing services, all on credit. Mulberry collected $570,000 from the credit sales in Transaction a and an additional $129,000 from the accounts receivable outstanding at the beginning of the year. Mulberry paid the interest payable of $8,000. A Wages of $379,000 were paid in cash. Repairs and maintenance of $9,000 were incurred and paid. The prepaid rent at the beginning of the year was used in 2019. In addition, $28,000 of computer rental costs were incurred and paid. There is no prepaid rent or rent payable at year-end. Mulberry purchased computer paper for $13,000 cash in late December. None of the paper was used by year-end. Advertising expense of $26,000 was incurred and paid. Income tax of $10,300 was incurred and paid in 2019. Interest of $5,000 was paid on the long-term loan. (Continued) Required: 1. Establish a ledger for the accounts listed above and enter the beginning balances. Use a chart of accounts to order the ledger accounts. 2. Analyze each transaction, Journalize as appropriate. (Note: Ignore the date because these events are aggregations of individual events.) 3. Post your journal entries to T-accounts, Add additional T-accounts when needed. 4. Use the ending balances in the T-accounts to prepare a trial balance
- Comprehensive Problem 1 8 Net income. 31,425 Kelly Pitney began her consulting business. Kelly Consulting, on April 1, 20Y8. The accounting cycle for Kelly Consulting for April, including financial statements, was illustrated in this chapter During May, Kelly Consulting entered into the following transactions: May 3.Received cash from clients as an advance payment for services to be provided and recorded it as unearned tree 4,500 5.Received cash from clients on account 2,450. 9.Paid cash for a newspaper advertisement 225. 13.Raid Office Station Co for part of the debt incurred on April , 640. 15.Recorded services provided on account for the period May 1-15, 9,180. 16 Paid part-time receptionist for two weeks salary including the amount owed on April 30, 750. 17.Recorded cash from cash clients for fees earned during the period May 116, 8,360. Record the following transactions on Page 6 of the Journal 20.Purchased support on account 735. 21.Recorded services provided on account for the period May 1620. 4,820 25.Recorded cash from cash clients for fees earned for the period May 1723, 7,900 27.Received cash from clients on account 9,520. 28.Paid part-time receptionist for two weeks salary. 7S0. 30.Raid telephone bill for May. 260 31.Paid electricity bill for May, 810. 31.Recorded cash from cash clients tor lees earned for the period May 2031. 3,300. 31.Recorded services provided on account for the remainder of May, 2,650. 31.Paid dividends 10,500 Instructions 1.The chart of accounts foe Kelly Consulting is shown us Exhibit 9. and the post-closing trial balance as of April 30, 20Y8, is shown in Exhibit 17. for each account in the post-closing trial balance, enter the balance in the appropriate Balance column of a four-column account. Date the balances May 1. 20Y8. and place a check mark () in the Posting Reference column. Journalize each of the May transactions in a two-column journal starting cm Page of the journal and using Kelly Consultings chart of accounts. (Do not insert the account numbers in the journal at this time.) 2.Post the journal to a ledger of four-column accounts. 5.Prepare an unadjusted trial balance. 4.At the end of May, the following adjustment data were assembled. Analyze and use these data to complete parts (5) and (6). (a)Insurance expired during May is 275. (b)Supplies on hand on May II are 715. (c)Depreciation of office equipment for May is 330. (d)Accrued receptionist salary on May 31 is 325. (e)Rent expired during May is 1600. (f)Unearned fees on May 31 are 3,210 5.(Optional) Enter the unadjusted trial balance on an end-of-period spreadsheet and complete the spreadsheet 6.Journalize and post the adjusting entries. Record the adjusting entries on Page 7 of the journal. 7.Prepare an adjusted trial balance. 8.Prepare an income statement, a statement of stockholders equity, and a balance sheet. 9.Prepare and post the closing entries. Record the closing entries on Page 8 of the journal. Indicate closed accounts by inserting a line in both the Balance columns opposite the closing entry. 10.Prepare a post-closing trial balance.Multiple step income statement and balance sheet The following selected accounts anti their current balances appear in the ledger of Kanpur Co. for the fiscal year ended June 30, 2019: Cash 92,000 Accounts Receivable 450,000 Merchandise Inventory 370,000 Estimated Returns Inventory 5,000 Office Supplies 10,000 Prepaid Insurance 12,000 Office Equipment 220,000 Accumulated DepreciationOffice Equipment 58,000 Store Equipment 650,000 Accumulated DepreciationStore Equipment 87,500 Accounts Payable 38,500 Customer Refunds Payable 10,000 Salaries Payable 4,000 Note Payable (final payment due 2032) 140,000 Gerri Faber. Capital 431,000 Gerri Faber, Drawing 300,000 Sales 8,925,00 Cost of Merchandise Sold 5,620,00 Sales Salaries Expense 850,000 Advertising Expense 420,000 Depreciation Expense Store Equipment 33,000 Miscellaneous Selling Expense 18,000 Office Salaries Expense 540,000 Rent Expense 48,000 Insurance Expense 24,000 Depredation ExpenseOffice Equipment 10,000 Office Supplies Expense 4,000 Miscellaneous Administrative Exp. 6,000 Interest Expense 12,000 Instructions 1.Prepare a multiple-step income statement. 2.Prepare a statement of owners equity. 3.Prepare a balance sheet, assuming that the current portion of the note payable is 7,000. 4.Briefly explain how multiple-step and single-step income statements differ.Transactions; financial statements 2. Net income: 10,850 On April 1, 20Y8, Maria Adams established Custom Realty. Maria completed the following transactions during the month of April: a. Opened a business bank account with a deposit of 24,000 in exchange for common stock. b. Paid rent on office and equipment for the month, 3,600. c. Paid automobile expenses for month, 1,350, and miscellaneous expenses, 600. d. Purchased supplies on account, 1,200. e. Earned sales commissions, receiving cash, 19,800. f. Paid creditor on account, 750. g. Paid office salaries, 2,500. h. Paid dividends, 3,500. i. Determined that the cost of supplies on hand was 300; therefore, the cost of supplies used was 900. Instructions 1. Indicate the effect of each transaction and the balances after each transaction, using the following tabular headings: 2. Prepare an income statement for April, a statement of stockholders equity for April, and a balance sheet as of April 30.
- Brief Exercise 1-23 Business Activities Marni Restaurant Company engaged in the following transactions during March, its first month of operations. Received $100,000 cash from the sale of stock. Purchased of $20,000 inventory from J&J Wholesale Company. Purchased $30,000 of kitchen equipment for its restaurants. Obtained a $25,000 loan from First State Bank. Sold $18,000 of food to customers. paid employee weekly salaries of $8,500. Repaid S 10,000 of principal relating to the loan in Item d. Required: For each of the above business activities, indicate whether it is an operating, investing, or financing activity.Exercise 3-51 Adjustment for Supplies The downtown location of Chicago Clothiers purchases large quantities Of supplies, including plastic garment bags and paper bags and boxes. At December 31, 2019, the following information is available concerning these supplies: Supplies inventory, 1/1/2019 $4,150 Supplies inventory, 12/31/2019 5,220 Supplies purchased for cash during 2019 12,690 All purchases of supplies during the year are debited to the supplies inventory. Required: What is the expense reported on the income statement associated with the use of supplies during 2019? What is the adjusting entry at December 31, 2019? By how much would assets and income be overstated or understated if the adjusting entry were not recorded?Continuing Problem 4.Total of Debit column: 40,750 The transactions completed by PS Music during June 20Y5 were described .it the end of Chapter 1. The following transactions were completed during July, the second month of businesss operations: July 1. Peyton Smith made an additional investment k PS Music in exchange for common stock by depositing 5,000 in PS Mu wet checking account. 1.Instead of continuing to share office space with a local real estate agency. Peyton decided to rent office space near a local musk store, Paid rent for July, 1,750. 1.Paid a premium of 2,700 for a comprehensive insurance policy covering liability, theft and fire. The policy covers a one year period. 2.Received 1,000 on account 3. On behalf of PS Musk, Peyton signed a contract with a local radio station. KXMD, to provide guest spots for the next three months. The contract requires PS Musk to provide a guest disc jockey for 80 hours per month for a monthly fee of 3,600. Any additional hours beyond 80 will be billed to KXMD at 40 per hour. In accordance with the contract Peyton received 7,200 from KXMD as an advance payment for the first two months. 3.Paid 2SO on account 4.Paid an attorney 900 for reviewing the July 3 contract with KXMD. (Record as Miscellaneous Expense.) 5.Purchased office equipment on account from Office Mart. 7,500. 8.Paid for a newspaper advertisement 200. 11.Received 1.000 for serving as a disc jockey for a party. 13.Paid 700 to a local audio electronics store for rental of digital recording equipment 14.Paid wages of 1,200 to receptionist and part-time assistant. Enter the following transactions on Pane 2 of the two-column journal: 16.Received 2,000 for serving as a disc jockey for a wedding reception. 18.Purchased supplies on account 850 21.Paid 620 to Upload Musk for use of its current musk demos in making various musk sets. 22.Paid 800 to a local radio station to advertise the services of PS Music twice daily for the remainder of July. 23.Served as disc jockey for a party for 2,500 Received 750, with the remainder due August 4.20YS. 27.Paid electric Ml 915. 28.Paid wages of 1,200 to receptionist and part-time assistant. 29.Paid miscellaneous expenses, 540. 30.Served as a disc jockey for a charity ball for 1,500, Received S00 with the remainder due on August 9. 20Y5. 31.Received 3,000 for serving as a disc jockey for a party. 31.Paid 1.400 royalties (musk expense) to National Musk Clearing for use of various artists music during July. 31. Paid dividends, 1,250. PS Musics chart of accounts and the balance of accounts as of July 1, 20Y5 (all normal balances), are as follows: 11 Cash 3,920 12 Accounts Receivable 1,000 14 Supplies 170 15 Prepaid Insurance 17 Office Equipment 21 Accounts Payable 250 23 Unearned Revenue 31 Common Stock 4.000 33 Dividends 500 41 Fees Earned 6,200 50 Wages Expense 400 51 Office Rent Expense 800 52 Equipment Rent Expense 67S 53 Utilities Expense 300 54 Music Expense 1.590 55 Advertising Expense 500 56 Supplies Expense 180 59 Miscellaneous Expense 415 Instructions 1. Enter the July 1, 20Y5, account balances in the appropriate balance column of a four-column account. Write Balance in the Item column, and place a check mark () in the Posting Reference column. (Hint: Verify the equality of the debit and credit balances in the ledger before proceeding with the next instruction.) 2. Analyze and journalize each transaction in a two-column journal beginning on Page 1, omitting journal entry explanations. 3. Post the journal to the ledger, extending the account balance to the appropriate balance column after each posting. 4. Prepare an unadjusted trial balance as of July 31, 20Y5.