Reference no: EM133609327

Question: Adler's Delivery Service completed the following transactions during the month of July: Genesis Adler invested $30,000 in the delivery service from his personal savings account. Bought delivery trucks on account, $14,000. Bought office equipment for cash, $1,500. Paid advertising expense, $500. Collected cash for delivery services rendered, $2,400. Paid drivers' salaries, $900. Paid gas expense for trucks, $1,100. Performed delivery services for a customer on account, $900. Telephone expense due but unpaid, $100. Received $600 as partial payment of Transaction H. Genesis withdrew cash for personal use, $250. As Genesis Adler's newly hired accountant, you must perform the following: Set up T accounts using the chart of accounts. Record transactions in the T accounts. (Place the letter of the transaction next to the entry.) Foot the T accounts where appropriate and determine the ending balances. Prepare a trial balance at the end of July. Prepare from the trial balance, in proper form, (a) an income statement for the month of July, (b) a statement of owner's equity, and (c) a balance sheet as of July 31, 20XX.