july 1st k.samuels, sole shareholder of samuels internet cafe ltd, started his business by investing...

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Accounting

july 1st k.samuels, sole shareholder of samuels internet cafe ltd, started his business by investing by investing his cash saving of $8200 for 100 shares of the business .1st, Recevied a bank loan for $20,0002nd,paid rent for the month of July and august total 2,2003rd,Bought office supplies worth 1,200 cash 3rd ,Bought computer for 10,300paid 3,5005th, Bought office equipment worth $3,100 paid $6006 th,Paid eletrician expense $300 cash 7 th,Paid assembly expense $320 cash 8 th, Revenue of 72,00 cash for surfing internet 10th, Revenue of 35,00 for games customer owed $25,0011 th,Purchases stationery for $150 cash 13th, Ksamuels received a dividend of $10 per share from business for personal use 15 th, Received $100 as prepayment for internet surfing 18 th,Paid salary $15,7020 th,paid of repairs and maintenance $1,00022 nd, Revenue of 12,00 cash for using MS office 24 th,Paid $1,800 for the computers purchased on July 3rd 28 th Revenue of $3,000 cash Received from customer purchase from vending machine. 31st, Tax expensesnto be paid before august 15 th is 250$31 st, Adjusting entry for the rent for july For the month of July 20201.Prepare Generral ledger (T-accounts) note : Asset :Cash accounts Receivable ,Prepaid rent, Unused supplies, computers, office Equpment Liabilities : Accounts payable, unearned Revenue , bank loan , taxes payable . Capital : share capital ,Dividends . Revenue:Revenue from internet, Revenue from Games, Revenue from MS office, and Revenue from vending machine . Expenses:Assembly Expense, Electical Expense, Maintenance Expense, Rent Expense,salaries Expense, Tax Expense. 2. Prepare Journal entries and post the entries to the General ledger 3.Show the trial balance at period end .4.Prepare income statement at period end 5. Create a statement of changes of Equity at the period end 6.Prepare balance sheet at period end
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