Reference no: EM132646254

Question - Manny Gill is an entrepreneur who started West Secure, a business that provides a number of security guard services. West Secure incurred the following transactions during July 2020, its first month of operations:

July 1 The owner, Manny Gill, invested $4,200 cash.

July 10 Purchased $1,700 worth of security equipment on credit.

July 12 Performed security services for a sold-out concert and received $10,000 cash from the client.

July 14 Paid for expenses; $2,700.

July 15 Completed security services for a graduation event and sent the client a bill for $1,100.

July 31 The owner withdrew $170 cash for personal use.

Required -

1. Record the journal entries for the month of July.

2. Post the July journal entries into your general ledger accounts. Include the date next to each number posted. Determine the balances.

3. Create trial balance using the balances in your general ledger accounts.

4. Create income statement, statement of changes in equity, and balance sheet based on your trial balance.

This is the transaction list for the journal entry worksheet

1. Record the investment by owner

2. Record the purchased equipment on credit.

3. Record the performed services for cash.

4. Record the paid expenses.

5. Record the completed services on account.

6. Record the owner withdrew cash.