Question

Problem Section: Complete the accounting cycle for the period January 1 to February 28, 2018. We Do Taxes Company started operations as of January 1, 2018 and set up a small office in Edison to prepare tax returns and perform accounting services. Use the information to follow to journalize each transaction on the Journal Sheet. Jan 1 Contributed the following assets for common stock. Cash, $15,000; accounts receivable, $1,000, Supplies, $2,000; and office equipment, $12,000. There were no liabilities contributed Jan 1 Paid six months rent on a lease rental contract, $5,400. Jan 3 Paid premiums on property and casualty insurance policies for the year, $1,800. Jan 5 Received cash from clients as an advance payment for services to be provided and recorded it as unearned fees, $6,000. Jan 10 Received cash from clients on account $500. Jan 20 paid cash for advertising in a local newspaper, $350. Jan 21 Purchased a new computer and other office equipment on account from Staples, $3,500. Jan 21 Paid part-time receptionist for two weeks' salary, $1,000. Jan 29 Recorded services provided on account for the period Jan 1-28, $10,300. Jan 30 Received cash from clients for fees earned during period, Jan 1-20, $5,000. Jan 31 Paid Staples for part of the debt incurred on Jan 21, $1,500. Feb 3 Paid part-time receptionist for two weeks' salary, $1,000. Feb 4 Paid cash for supplies, $800. Feb 6 Received cash from clients on account $4,500. Paid for January month of telephone bill, $150. Feb 8 Feb 8 Pair for January month of utilities, $500. Feb 17 Paid part-time receptionist for two weeks' salary, $1,000. Feb 28 Recorded services provided on account for the period Feb 1-28, $8,500. Feb 28 Recorded cash from cash clients for fees earned for the period Feb 1-28, $4,500. Feb 28 Paid dividends, $8,000.

unadjusted Trial Balance

need this put in cells

**if you write this out on paper. please write neatly**

Answer 1

Below is the answer for Unadjusted Trial balance.

We DO taxes company
Unadjusted Trail Balance
	28-Feb-18
		Debit	Credit
Account
Cash		22000
Account receivables		1000
Supplies		2000
Office equipments		15500
Share Capital			38000
Lease rental Expense		1800
Prepaid Lease rental		3600
Insurance Expense		300
Prepaid Insurance		1500
Unearned Fees			6000
Advances from Debtors			500
Advertisement expense		350
Creditors for PPE			2000
Salary expense		3000
Debtors		4800
Services Sales			18800
Office expenses		800
Telephone expense		150
Utilities expense		500
Dividend expense		8000
		65300	65300