Question

The accountant for the firm owned by Randy Guttery prepares financial statements at the end of each month. The following transactions for Randy Guttery, Landscape Consultant took place during the month ended June 30, 2019. Transactions: a. Guttery invested $80,000 in cash to start the business. b. Paid $3,000 for the current month's rent. c. Bought office furniture for $8,360 in cash. d. Performed services for $4,100 in cash. e. Paid $625 for the monthly telephone bill. f. Performed services for $7,000 on credit. g. Purchased a computer and copier for $19,000paid $6,500 in cash immediately with the balance due in 30 days. h. Received $3,500 from credit clients. 1. Paid $2,000 in cash for office cleaning services for the month. j. Purchased additional office chairs for $2.900; received credit terms of 30 days k. Purchased office equipment for $20,000 and paid half of this amount in cash immediately, the balance is due in 30 days. I. Issued a check for $4,700 to pay salaries. m. Performed services for $7.250 in cash n. Performed services for $8.000 on credit o. Collected $4,000 on accounts receivable from charge customers p. Issued a check for $1.450 in partial payment of the amount owed for office chais 4. Paid $350 to a duplicating company for photocopy work performed during the month. r. Paid $610 for the monthly electric bill S. Guttery withdrew $4,500 in cash for personal expenses. Bered

Answer 1

please find solution here

RANDY GUTTREY, LANDSCAPE CONSULTANT
Trail Balance June 30 2109
Account Name	Debit $	Credit   $
Capital		80,000.00
Cash	56,755.00
Account Receivables	7,500.00
Account Payables		23,950.00
Furniture & Fixture	11,260.00
Office Equipment	20,000.00
Electricity	610
Telephone Bill	625
Computer & Accessories	19000
office Cleaning Services	2000
Salary	4700
Prinitng & Stationery	350
Drawing
Sales		26350
Rent	3000
Drawing	4500
Total	1,30,300.00	1,30,300.00

RANDY GUTTREY, LANDSCAPE CONSULTANT
Income Statement June 30 2019
Particulars	Amount $	Amount $
Revenue
Sales		26350
Total Revenue               A		26350
Expenses
Electricity	610
Telephone Bill	625
office Cleaning Services	2000
Salary	4700
Prinitng & Stationery	350
Rent	3000
Total Expenses             B	11285
Gross Profit            A-B		15065

Please find Journalise Entry

	Particulars	Debit	Credit
a	Cash A/c	80000
	To Capital A/c		80000
b	Rent A/c	3000
	To Cash		3000
c	Furniture & Fixture A/c	8360
	To Cash		8360
d	Cash A/c	4100
	To Sales A/c		4100
e	Telephone Bill A/c	625
	To cash A/c		625
f	Account Receivables A/c	7000
	To Sales A/c		7000
g	Computer & accessories A/c	19000
	To Cash		6500
	To Account Payable		12500
h	Cash A/c	3500
	To Account Receivalbes		3500
	Being From 7000
I	Office Cleaning Service A/c	2000
	To Cash		2000
J	Furniture & Fixture A/c	2900
	To Account Payable		2900
k	Office Equipment	20000
	To cash		10000
	To Account Payable		10000
l	Salaries A/c	4700
	To Cash		4700
m	Cash A/c	7250
	To Sales A/c		7250
n	Account Receivabables	8000
	To Sales A/c		8000
o	Cash A/c	4000
	To Account Recivables		4000
p	Acount Payables	1450
	To Cash		1450
q	Priting & stationery	350
	To cash		350
r	Electricity Bill	610
	To cash		610
s	Capital A/c	4500
	To Drawing (cash)		4500