prepare edwards caddy services balance sheet as of june 30 2017 3730256

Prepare Edwards Caddy services balance sheet as of June 30,2017

ACC1800 -ACCOUNTING PROCEDURES Project # 1: Recording Transactions (Chps 1 & 2) Summer Edwards will manage Edwards Caddy Services at Canyon Lake Golf and Country Club during lune through September 2017 has had no formal training in bookkeeping Summer keeps receipts and notes of all revenues and expenses in a shoe box. Your examination of the Summers shoe box of caddy rents a small maintenance buälding from the country club and offers caddy services, including cart rentals, to golfers. Summer service records for June revealed the following Jun 1 Summer contributed to Edwards Caddy Service, by depositing $8,000 into the business accoum 1 Paid June rental fee of $1,000 for a small building at Canyon Lake Golf and Country Club 2 Paid June rental fee of $1,500 for 40 regular pulling golf carts and 20 gasoline-drive carts 3 Purchased golf supplies (practice balls, gasoline, etc), on account $2,000. 15 Paid wages to part-time employees, $850 20 Paid cash to creditors on account, $1,000 30 A count of all the Pay Later slips from customers for caddy services performed from June 1-30, totalled, $3,000 30 A count of all the Paid Cash slips from customers for caddy services performed from June 1-30, totalled $9,000. 30 Paid the following business expenses: Paid wages to part-time employees, $1,250. Paid telephone and electricity expenses, $300 Paid miscellaneous expenses, $25o 30 Summer withdrew $3,800 for personal use. Summer has asked you several questions concerning his financial affairs to date, and he has asked you to assist with his bookkeeping and reporting of financial data. Requirements: 1. Journalize Edwards Caddy Services lune transactions. 2. Post Edwards Caddy Services June transactions to T-Accounts. 3. Prepare Edwards Caddy Services Trial Balance as of lune 30, 2017. 4. Prepare Edwards Caddy Services Income Statement for the month ended June 30, 2017 5. Prepare Edwards Caddy Services Statement of Owners Equity for the month ended june 30, 2017 6 Prepare Edwards Caddy Services Balance Sheet as of June 30, 2017 COMPLETE ENTIRE PACKET NEATLY USING PENCIL, NO INK 1 of 7

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